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Clark County Budget Analysis
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Clark Budget Analysis
Privatization is a process by which the accountability of producing services and goods is moved from the public sector, which is the government to the private sector. Privatization is essential in the economy as it scales up a healthy competition in addition to the creation of many jobs in the market. It can also minimize the prices of the products by eliminating monopolies. The shifting into privatization may take place directly by contracting out the services to the private sector by either making arrangements, like partnership with private sector entities regardless of whether it is non-profit or for profit. In this case, the aim is to shift to the private sector. Because of the various benefits that accrue from privatization, there are various privatization efforts that Clark County, Washington, to be in a joint partnership with the private and non-profit companies and organizations.
Some of the privatization efforts that have been made by Clark County include public sales of the shares. This is where the shares of the public companies owned by the government are sold to private individuals. The shares can, therefore, be advertised in the stock exchange market, after which the rules regulating the activities in the stock market will apply during the purchase by the private organizations. Another effort that has been made by the Clark County government in an attempt to be in a joint partnership with the private companies is by outsourcing typical sector services to the private companies (Chapter 1. The Political Economy Of Privatization And Public-Private Partnerships, 2015). In this case, the Clark county government entered into a contract with a private business to provide public service to the citizens. As part of the efforts of privatization, Clark County has limited the amount of control or regulation of the activities of the private companies and let it to the market to do it. The county government also does public negotiations on the properties which have unique features, which may limit the number of private bodies who may be interested in purchasing the property. In this case, the government has to target strategic investors who have the potentiality of buying the product.
Other efforts that have been made by the Clark County include the public auction in which the government can target at the highest sale price. In this case, the long term material assets are sold by public auction to private organizations. Selling of the government-run industries to the private organization and companies have as well been made as an effort towards privatization by the Clark County. This can be done by just selling off industry to the private company.
The government of Clark county financial policy trends towards the alternative taxes are hard and thus ensuring timely payments of tax charges. Moreover, the ability to cut back incidents of residents destroying the by-laws of the Clark County government (Fedorowicz, 2007). The county government of Clark has ensured that their financial policies remain ethical by diversifying the sources of revenues from charges and taxes to fees by building a public recreation center. This, therefore, makes the residents not to seem to be loaded by taxes. The residents have as well been safeguarded from exploitation by the county officers though the introduction of a legal cap on some of the tax licenses and permits.
The relevant state and federal tax policy related to legislation that could affect the streams or outlays of revenues include the modification of the existing tax policy by either eliminating the myriad tax breaks in the present code or even making changes on the tax rates that applies to personal and also corporate income (Heim Abbas, 2015). Other policies may include enacting new taxes as well as boosting economic activities.
Chapter 1. The Political Economy Of Privatization And Public-Private Partnerships. (2015).Purchase for Profit, 16-32. doi10.3138/9781442624634-004
Fedorowicz, Z. (2007). Financial planning. Warsaw Central School of Planning and Statistics in Warsaw, Research Institute for Developing Countries.
Heim,B.T., Abbas,Y. (2015). Does Federal Deductibility Affect State and Local Revenue SourcesNational Tax Journal,68(1), 33-58. doi10.17310/ntj.2015.1.02
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