Why do state and local governments prepare capital budgets? Discuss the steps in the capital budgeting process. What issues should government budget officials be mindful of in the preparation and execution of capital budgeting?

Capital budgeting process

Responses to the questions should be in essay format. Your answers must show originality, be straight to the point and not be more than 3 double-spaced pages to a question.

Why do state and local governments prepare capital budgets? Discuss the steps in the capital budgeting process. What issues should government budget officials be mindful of in the preparation and execution of capital budgeting?