public fiscal management
/pʌblik ˈfiskəl mænɪdʒmənt/ · pub·lic ·fis·cal ·man·age·ment
noun
- The process of overseeing and managing the financial resources of a government or public organization. The city's public fiscal management team worked closely with the mayor to balance the budget and allocate funds for infrastructure projects.
- A system or approach to managing public finances that emphasizes transparency, accountability, and efficiency. The new public fiscal management system implemented by the state government reduced waste and improved financial reporting.
verb
- To oversee and manage the financial resources of a government or public organization. The city council will public fiscal management the budget to ensure that funds are allocated effectively.
- To implement a system or approach to managing public finances that emphasizes transparency, accountability, and efficiency. The state government will public fiscal management the new system to reduce waste and improve financial reporting.
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Did you know? The concept of public fiscal management has been influenced by the work of economists such as Adam Smith, who emphasized the importance of transparency and accountability in government finance.