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Public Finance terms
Budgets, tax receipts, procurement and grants, by the numbers.
Budget variance (government) The difference between a government agency's budgeted and actual spending or revenue over a reporting period. Cost-benefit analysis (CBA) Comparing a policy or project's monetized benefits against its costs to judge whether it is worth doing. Fiscal transparency The degree to which a government publicly discloses how it raises, spends, and manages public money. Participatory budgeting (PB) A process where community members directly decide how to spend a defined portion of a public budget. Performance budgeting Allocating public funds based on measured program outcomes and performance targets rather than prior spending levels. Performance management in government Setting measurable goals for public agencies and tracking results against them to guide budgeting and accountability. Procurement analytics (government) Analyzing public purchasing data to control spend, detect irregularities, and evaluate vendor and contract performance.