The state or local finance is a complex term that entails the state tactics, trend and the capabilities of handling the financial issues that face the United States are analyzed in the article. On similar account, the States financial budget implementation through its economic programs and activities are indicated. Thus, financial statements and reports that are analyzed within the local or national scope within America serves as a turning point since it intends to support the objectives of the State previously outlined (U.S Department of The
Treasury, 2014). Nevertheless, the extensive surveys done by the financial researchers point out the components of the State finance sources such as revenues, taxes, expenditures. In addition, capital investment is worth noting since they give a direction to which the States or government financial positions are heading to. The analysis presented in this paper is helpful in understanding the review of the current articles that analyzes the state and the local financial issues related to taxation, expenditures as well as the capital investments (U.S Department of The Treasury, 2014). On a broad front, the article contents are analyzed in reference to the critical topics of the State finances either as a successful performer or as a failed institution exposed to the financial risks of financial failures or other related financial issues. Lastly, the analysis presented in this paper allows comparison as well as the contrast between the reviewed articles and the knowledge learned in class.
The governments’ financial statistics article review, reveals how the government raises revenues and conducts its expenses while holding its debts. However, the articles explain how the states and the local finances differ in their legislative activity records as well as their accounting systems (United States Census, 2014). The articles indicate how the state assets are shared among the most beneficial and the distribution channels used to allocate, distribute and collect resources. On further analysis, the articles provide both a descriptive analysis of the financial system as well as the frequency at which financial statements are analyzed. In relation to the class knowledge, understanding of the government sources of revenue is made clear, and all the issues that lead to the tax variation among the states and localities are made clear. The article summarizes the financial statistics and the tax collected by the government financial systems and other financial related agencies toward financial program implementations. In addition, the article point out all the public institutions that benefits from the States expenditure such as schools, hospitals, insurance systems and infrastructures are clearly understood (United States Census, 2014).
On a different scope, the article review of the US department of treasury, financial analysis identifies both the financial agreements as well as the inactive agreements that grant treasury institutions to retain their financial agents. The article portrays how the financial agents take the government responsibilities in implementing duties such as saving and banking services. In a broad analysis on the two articles contents in relation to the discussed topics, it is clear that, the financial initiatives, procurements and agents that guide the States in achieving its financial stability are indicated (United States Census, 2014). On a different perspective, all the financial goals that can lead to economic growth and development are described. In simple terms, the differences between the revenues collected and the expenditure determines the States or other local agents’ financial position. The participants or subjects to financial issues influenced by the State can either benefit directly or indirectly as the revenues are collected and later spend of different government programs.
Conclusion The state financial report's analysis through revenue and expenditures can only be understood through collective bargains. All the financial issues covered by the State finances from tax collection challenges to the expenditure is important in analyzing the State finances, as well as the local finances. Further analysis of the state articles should be done by the help of the class acquired knowledge to reveal the benefits, challenges and the success or protecting the State finances as an individual asset.
United States Census (2014). Government Finance Statistics, retrieved on November 11, 2014 from http://www.census.gov/govs/financegen
U.S Department of The Treasury (2014). Doing Business With OFS, Retriedon November 11, 2014 from http://www.treasury.gov/initiatives/financialstability/procurement/faa/Pages/faa.aspx