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Apr 17th, 2015
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Wasteful Spending week 3 discussion 2

Identify costs which illustrate wasteful spending from either your personal budget or your organizations budget.  Articulate why these costs were never eliminated.

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(Mar)Reducing waste full spending is not easy.  Even the most useless programs are passionately supported by the armies of recipients, administrators, and lobbyists that benefit from their existence (Riedl, 2009). One cost that illustrates waste full spending from an organization could be programs that could be better performed by the private sector.  A good example of outsourcing would be prisoner transportation. It is easier to pay a professional company to transport prisoners from court to their detention facilities than it would for the agency to start a program and have to worry about equipment and personnel.  Wasteful spending can also come in the form of fraud or mismanagement. This can be by purchasing because low-quality supplies and materials can generally be delivered at lower cost than can higher-quality supplies and materials, government contract specifications require delivery of quality material. A contractor who provides lower than specified quality (shoddy material) can thus profit at public expense (Mikesell, 2011).  In the law enforcement field shoddy material can cost someone their life or produce additional waste in form of law suits or paying more money to repair r repair the equipment.

In my opinion many of these costs are never eliminated because the lack of oversight.  Internal controls need to be in place to regulate waste full spending. Financial managers are simultaneously concerned with maintaining internal control, defined as the methods and procedures within the agency established to safeguard assets, check the accuracy and reliability of financial and other data, promote operational efficiency, and encourage adherence to the prescribed policies and procedures of the agency (Mikesell, 2011). In order to eliminate waist full costs in an agency the decision makers need to incorporate the people who will be using the equipment or material to ensure that it will be functional and practical.

 Mikesell, John. Fiscal Administration, 8e, 8th Edition. Wadsworth, 01/2014. VitalBook file.

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