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Fund accounting and capital budgeting: european experiences

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  • M. Peter van der Hoek

Abstract

Budgets have to meet a number of principles in order to fulfil their functions properly. This paper focuses on two of these budget principles. First, it addresses the principle of unity and universalism. More in particular, it discusses the issue of earmarking receipts. It is concluded that most of the perceived benefits of special fund accounting do not occur in practice. Second, the paper deals with the principle of an efficient division of the budget. It is concluded that the credibility of the main argument for a capital budget, being that it reinforces the allocation function of the budget, is questionable.
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  • M. Peter van der Hoek, 1996. "Fund accounting and capital budgeting: european experiences," Journal of Public Budgeting, Accounting & Financial Management, Emerald Group Publishing Limited, vol. 8(1), pages 26-46, March.
    • Handle: RePEc:eme:jpbafm:jpbafm-08-01-1996-b002
    DOI: 10.1108/JPBAFM-08-01-1996-B002
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    References listed on IDEAS

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    1. James M. Buchanan, 1963. "The Economics of Earmarked Taxes," Journal of Political Economy, University of Chicago Press, vol. 71(5), pages 457-457.
    2. Brennan,Geoffrey & Buchanan,James M., 2006. "The Power to Tax," Cambridge Books, Cambridge University Press, number 9780521027922, September.
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    JEL classification:

    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems

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