Pad final | Human Resource Management homework help
- Performance-Based Contracting: Ascertains the satisfaction of vendors in advance.
B(c). Recommendations · Implement a centralized e-procurement system · Strengthen cooperative purchasing participation · Adopt a Treasury Management System (TMS) · Update reserve policies to strengthen liquidity · Produce quarterly variance reports · Increase oversight for high-value contracts
Conclusion
Budget cuts also offer strategic buying and effective cash management which offer critical avenues in boosting financial performance. The agency can remain financially stable and at the same time maintain its service quality through better procurement procedures, use of technology, cash flow optimization, and use of cost-containment measures. The forecast and cost analysis provided shows that financial sustainability can be attained through strategic reforms, strict management, and information-based decision-making.
References
Bandy, G. (2023). Financial management and accounting in the public sector. Routledge. https://www.taylorfrancis.com/books/mono/10.4324/9781003250838/financial-management-accounting-public-sector-gary-bandyLinks to an external site. Innovative Approaches to Optimizing Government Revenue Brande Tate Durham Tech Community College Public Finance and Budgeting Professor Ashley Fletcher November 2, 2025 Innovative Approaches to Optimizing Government Revenue Interpreting Fiscal Data Proper fiscal data interpretation is one of the pillars of good managerial relations between the public and financial sectors and national economies in the long run. Governments must therefore embrace holistic data-mining procedures that will facilitate the process of identifying revenue trends, spending behavior and performance flaws. The major modes of analysis include trend analysis, variance analysis and ratio analysis. Trend analysis will follow the pattern of revenue changes over several fiscal years and enable the policymakers to identify deficits or peaks in revenue especially during seasons. Variance analysis measures the distance between the budgeted and actual values and thus reflects the inefficiency or unexpected loss of revenue. Liquidity and debt ratios are two ratio analysis techniques that offer a brief overview of the fiscal health and sustainability. The interpretative process is supplemented by modern tools like predictive analytics and data-visualization dashboards. For example, the inclusion of fiscal information in dynamic tools (e.g., Tableau or Power BI) allows analysts to visualize the current trends in tax collection, expenditure and compliance (see Figure 1). It is an evidence-based practice because the information allows governments to establish what areas will add the greatest contribution to revenue growth and where interventions are necessary. Further, the connection of expenditure- efficiency measurements with the inflows of revenues can allow authorities to determine the effectiveness of fiscal policies to achieve economic and social goals. The Organization for Economic Co-Operation and Development (OECD, 2023) states that tax administrations are expanding by a good percentage to using digital identity, pre-filling of returns and advanced analytics; more than 95 per cent report on using electronic data of third parties, and more than 80 per cent are using AIs/ML to assess higher-level risk. This fact demonstrates a dramatic change in the way fiscal-data is interpreted of manual audits toward the real-time, predictive, and automated understanding. Figure 1: Power BI Source: (Thomas, 2020) Identifying Key Revenue Streams The government bodies depend on various forms of income such as levies, service charges, inter-governmental grants and the public investments. Fluctuation, equity and elasticity of major streams require consideration in the identification and prioritization of streams. The taxes, especially income, property and value-added taxes are still the staple of government revenue. However, a dependency on a small base of taxation can lead the state to a fiscal shock; hence, it is vital to diversify. These decisions need to be made based on economic and demographic changes. As an example, a growing population and urbanization create pressure on infrastructure, and this offers the prospects of land-use fees and congestion charges. Similarly, the growth of the digital economy is conducive to thinking about the taxation of digital activities, streaming services and online markets, and, thus, making sure that an emerging industry contributes fairly. This will increase the sustainability of grants and foreign aid since they should only be used to meet the national development objectives and not recurrently. Moreover, energy, transportation and telecommunications are public investments that can have long-term returns in case they are properly managed according to public-private partnership (PPP) models. As mentioned by the International Monetary Fund (IMF, 2023), the implementation of digital-tax-administration technologies is positively linked with an increase in the performance in tax collection; the benefits, however, depend on the implementation of complementary administrative and legal adjustments, digital connectivity and qualified personnel. On the diversification front, the analysis of fuel-tax loss in the shift to electric mobility by using research modelling shows that governments need to create alternative sources of revenue (e.g., congestion pricing) to compensate for reductions in the traditional consumption-or fuel-taxes (Nguyen and Muesgens, 2024). Proposing Innovative Approaches Innovation is mandatory to the maximization of revenue collection by government and accountability. Among the potential solutions is tax administration through digital transformation. Evasion can be minimized with the introduction of electronic filing systems (e- filing), mobile tax-payment applications and blockchain-based transaction monitoring to improve compliance. Artificial intelligence will also be able to identify tax record-related anomalies to identify possible fraud and enhance the accuracy of audit. The OECD (2025) ascertained that nearly 72% of tax administrations utilize AI/ML in big-data evaluation to examine compliance and risk profiling (see figure 2); nearly 40% pre-fill VAT stamps, and almost 30% pre-fill corporate-income-tax stamps. This supports the statement of the growing centrality of digital tools. The IMF (2023) also highlights that digital-tax-reform significantly enhances collection in case of administrative reforms with digital-tax-reform. The other approach entails the implementation of behavioral-economics methods to increase compliance by the taxpayer. Indeed, reminders and streamlined filing procedures tailored to individual participants have been found to boost payments on time by a significant margin. The governments can also take up open-data projects, as in this case the citizens can have trust in the government and where they are encouraged to comply on a voluntary basis by the availability of fiscal information to them. Moreover, it is possible to diversify revenue through broadening non-conventional sources of revenue like sin tax (on liquor and tobacco) and eco-taxes and digital-service taxes without saturating current taxes. Capacity-building programs on financial officers are worth investing on since it will lead to higher fiscal discipline and efficiency in the control of expenditures. Figure 2: Use of big data for analytical purposes Source: (OECD, 2025)
Conclusion
To optimize government revenue, fiscal-data analysis, forward-looking revenue source prioritization and innovative thinking must be integrated in a balanced manner. Information based decision making ensures precision whereas diversification and digitalization enhance financial stability.
References
International Monetary Fund. (2023, December 11). Exploring the Adoption of Selected Digital Technologies in Tax Administration: A Cross-Country Perspective. IMF Notes No. 2023/008. https://doi.org/10.5089/9798400258183.068 Nguyen, T. N., & Muesgens, F. (2024). Fuel tax loss in a world of electric mobility: A window of opportunity for congestion pricing. arXiv. https://arxiv.org/abs/2409.20033 Organization for Economic Co-operation and Development. (2023, September 27). Tax Administration 2023: Comparative Information on OECD and other Advanced and Emerging Economies. OECD Publishing. https://doi.org/10.1787/900b6382-en Organization for Economic Co-operation and Development. (2025, June 17). Tax Administration Digitalization and Digital Transformation Initiatives. OECD Publishing. https://doi.org/10.1787/c076d776-en Thomas, W. S. (2020, March 1). Power BI: An analytical view. Journal of Accountancy. https://www.journalofaccountancy.com/issues/2020/mar/microsoft-power-bi-data-excel/
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