Running head: THE BUDGET EVALUATION OF THE CITY COUNCIL OF COLUMBIA 1
THE BUDGET EVALUATION OF THE CITY OF COLUMBIA 3
The Budget Evaluation of the City of Columbia
The Budget Evaluation of the City Council of Columbia Comment by Oril Demas: No bold
Before the year 1990 came to a close, a concession was reached that saw major reforms as the way to go. A law put in place in 1991 of January had an objective of privatizing regional port. It took the government three years for it to finally acquire the general cargo port terminals. During this period, reforms and keen evaluation of the assets in regards to the port was conducted. Each port had a totally independent concession with an aim of setting up tariffs within the stipulations and obliged to work closely with the government on future plans investment. An agreement was finally reached with a 70/30 share of ownership being shared to both the private and public sectors. The government still retained ownership over port infrastructure. The government was in charge of the public sector with the national government getting 3%, state government 12% and the municipal government 15%. Subsequent years proved that the concessionary was more than successful and have brought in competition to the business. Comment by Oril Demas: Be cautious of figurative language in academic writing; It is best to use objective, direct wording. Comment by Oril Demas: This section is confusing. Consider discussing these points in new sentences to clarify meaning Comment by Oril Demas: Where did you get the information for this paragraph? Remember to insert citations.
Privatization in manufacturing was aimed at selling the shares of the Instituto de Fomento industrial (IFI). Provision of long-term credit facilities to private enterprises and minimizing capital risks in industrial projects were among the institute’s objectives (Carlos et al, 2001). The privatization program touched on natural gas transportation and distribution, the power sector and water sanitization. Integration in enterprises led the private sector investments into a new direction. Foreign investments acquired stability. Privatization in natural gas and gasoline distribution targeted the Columbian Petroleum Company. The sale price of the shares surpassed the initial bid price. Privatization acted as a channel for fostering market competition and an instrument for industrial restructuring. Comment by Oril Demas: The comma before “and” or “or” in a list is necessary in academic writing. This has not always been the case; however, it is now a requirement. This particular comma is called the Oxford comma. The Oxford comma adds clarity. Leaving it out can cause confusion. Without: “I’d like to thank my parents, Lisa and John.” This could mean that my parents are Lisa and John or that I am thanking Lisa and John in addition to my parents. With: “I’d like to thank my parents, Lisa, and John.” This makes it clear that Lisa and John are not my parents. While that confusion does not always happen with lists, it is important in academic writing to be consistent. So, because the confusion can happen, the Oxford comma should be used in all lists.
Recommendation Comment by Oril Demas: Because the title is not a level heading, this is the first heading of the paper; therefore, it is a level one heading. Here is a review: http://columbiasouthern.adobeconnect.com/levelheadings/
Using 1980s data on productivity in private firms, there was a significant slowdown which was a major blow to the enterprise in the private sector. The situation was further aggravated as a result of these enterprises being primary capital-intensive plants. The 1990s presented a sigh of relief with a series of adjustments in terms of processes, labor productivity and size of plant. Privatization should be used as a complementary mechanism to catalyze the restructuring of industrial plants. Privatization has proved to have positive results on plant efficiency but should be done systematically. Comment by Oril Demas: This is figurative
An Analysis of Financial Policy Trends towards Alternative Taxes
In most developing nations, taxation acts as a way of rectifying the system of pricing and also a means of effective income redistribution. For tax to be considered as an alternative in Columbia, the distribution of income should be evaluated. This information will assist in the government decision on tax distribution to be increased (John et al, 2011). It is without doubt that local revenues have proven to have vast influence on state and regional changes. It becomes a dilemma for the government in power to choose the most effective revenue structure for individual control. Revolution in technology and communication have offset changes in taxation system. For instance, E-commerce on sales taxes. State government policies have an impact on local revenues. Enough support should be accorded to the state or they will end up choosing between making taxation flexible on residents or lowering expenditure mandates. Comment by Oril Demas: Review your citations. The et al. abbreviation cannot be used first for your sources. See the slides on 3-5 authors: http://columbiasouthern.adobeconnect.com/intextcitations /
Tax Policies that could affect Revenue Streams or Outlays
National and local government acquires loans majorly by issue of bonds. Investors on the other hand purchase these bonds and hold them until they mature or may opt to sell them on a higher market. These bonds are used by both national and local government to incur for expensive and long-term capital projects for example, infrastructure and water treatment services. Despite the state and local authorities being able to pay for some of their capital investments with current revenues, acquisition of loans permits them to spread the cost to subsequent generations. This may result to higher taxation in future as way of paying back. Tax incentives affect equality between taxpayers in same bracket and individual income belonging to different levels (William, 2010).
References Comment by Oril Demas: Please compare the entries to the examples in the references tutorial. I have sent the link in previous reviews, but it is included below for convenience: http://columbiasouthern.adobeconnect.com/references2014/
Carlos, P, Manuel, R. (2001). Privatization in Columbia: A Plant Performance Analysis. Department of Economics.
John, B, Kenneth, K, Boris, M. (2011). Local Government Revenue Structure: Trends and Challenges. Public Administration Faculty Publication. Vol 23, Issue 2.