Public finance

The economic influence of the government, and the workings of government revenue and expenditures.

public revenues
government money
government income
public taxations
public income
government taxations
public money
government revenues

knowledge

cross-sector

Public finance is an essential knowledge of the following occupations:

Public finance accountant: Public finance accountants head the treasury department of a governmental institution. They manage the institution’s financial administration, expenditure and income generation, and compliance with taxation and other financial legislation. They perform administrative duties to ensure record keeping, develop plans for budget management and perform financial forecasts.
Economic development coordinator: Economic development coordinators outline and implement policies for the improvement of a community’s, government’s or institution’s economic growth and stability. They research economic trends and coordinate cooperation between institutions working in economic development. They analyse potential economic risks and conflicts and develop plans to resolve them. Economic development coordinators advise on the economic sustainability of institutions and economic growth.
Consul: Consuls represent governments in foreign institutions such as embassies in order to facilitate economic and political cooperation between the two nations. They protect the interests of their home nation and provide bureaucratic assistance to citizens living as expatriates or travelling in the host country.
Tax policy analyst: Tax policy analysts research and develop taxation policies and legislation in order to improve and develop tax policies. They advise official bodies on policy implementation and financial operations, as well as forecast financial influence of changes in tax policies.
Tax inspector: Tax inspectors are responsible for the calculation of taxation and the ensurance of its timely payment by individuals and organisations. They provide information and guidance concerning taxation legislation and examine financial documents and accounts to ensure compliance with legislation. They also examine records to investigate fraud.
Civil service administrative officer: Civil service administrative officers perform administrative duties in civil service organisations and government departments. They ensure record maintenance, handle enquiries and provide information to the public, either in person, through emails or phone calls. They support senior staff, and ensure a fluent internal flow of information.

Public finance is optional for these occupations. This means knowing this knowledge may be an asset for career advancement if you are in one of these occupations.

Accounting manager: Accounting managers assume responsibility for all accounting activities relating to financial reporting. They develop and maintain accounting principles and procedures to ensure timely and accurate financial statements issued, supervise accounting staff and manage the accounting activities within the appropriate time frame and budget.
Public administration manager: Public administration managers direct, monitor and evaluate the implementation of government policies. They supervise staff and manage resources used for implementation, and write reports on the implementation process. They also communicate with government officials and the public to inform them on the policies. Public administration managers may also participate in the design and creation of public policies.
Secretary of state: Secretaries of state assist heads of government departments, such as ministers, and aid in the supervision of proceedings in the department. They assist in the direction of policies, operations, and department staff, and perform planning, resource allocation, and decision-making duties.
Financial manager: Financial managers handle all the matters in reference to the finance and investments of a company. They manage financial operations of companies such as the assets, liabilities, equity and cash flow aiming to maintain the financial health of the company and operative viability. Financial managers evaluate the strategic plans of the company in financial terms, maintain transparent financial operations for taxation and auditing bodies, and create the financial statements of the company at the end of the fiscal year.
Community development officer: Community development officers develop plans to improve quality of life in local communities. They investigate and assess the community’s issues and needs, manage resources, and develop implementation strategies. They communicate with the community for investigation purposes, and to inform the community on development plans.
Business administration vocational teacher: Business administration vocational teachers for business administration instruct students in their specialised field of study, business administration, which is predominantly practical in nature. They provide theoretical instruction in service of the practical skills and techniques the students must subsequently master for a business administration-related profession, such as accountant or banker. Business administration vocational teachers monitor the students’ progress, assist individually when necessary, and evaluate their knowledge and performance on the subject of business administration through assignments, tests and examinations.
Government minister: Government ministers function as decision-makers in national or regional governments, and head government ministries. They perform legislative duties and supervise the operation of their department.
Budget manager: Budget managers assess financial proposals of different departments before granting financial resources to projects. They monitor the implementation of budget policies and procedures. They work closely with other departments in the evaluation of programs, their impact in the organisation, the revenue that they can yield, and the financial efforts required.
Tax compliance officer: Tax compliance officers collect fees, debt, and taxes on behalf of government institutions in cities, municipalities and other jurisdictions. They perform administrative duties and communicate with other officials and institutions to ensure operations are correct and compliant with policies.
Budget analyst: Budget analysts monitor the spending activities of public and private institutions and companies. They prepare budget reports, review the budget model used in the company and ensure compliance with the budgeting policies and other legal regulations.
Economic adviser: Economic advisers research economic developments and advise on economic problems. They forecast trends and behaviour in economics, and advise on finance, trade, fiscal and other related matters. They advise companies and organisations on techniques to gain economic profit.
Secretary general: Secretaries general head international governmental or nongovernmental organisations. They supervise staff, direct policy and strategy development, and function as main representative of the organisation.
Mayor: Mayors chair their jurisdiction’s council meetings and act as main supervisor of the local government’s administrative and operational policies. They also represent their jurisdiction in ceremonial and official events and promote activities and events. They, together with the council, hold the local or regional legislative power and oversee development and implementation of policies. They also supervise staff and perform administrative duties.
City councillor: City councillors represent residents of a city in the city’s council and perform local legislative duties. They examine the concerns of the residents and respond to them in an appropriate manner, and represent their political party’s policies and programs in the city council as well. They communicate with governmental officials to ensure the city and its agenda are represented and supervise all operations which fall under the city council’s responsibility.
Senator: Senators perform legislative duties on a central government level, such as working on constitutional reforms, negotiating on bills of law, and settling conflicts between other governmental institutions.
Central bank governor: Central bank governors set the monetary and regulatory policy, determine interest rates, maintain price stability, control the national money supply and issuance and foreign exchange currency rates and gold reserves. They oversee and control the banking industry.
Provincial governor: Governors are the main legislators of a nation’s unit such as a state or province. They supervise staff, perform administrative and ceremonial duties, and function as the main representative for their governed region. They regulate local governments in their region.

References

1. Public finance – ESCO