Traditionally, the literature has focused on the annual budgetary process. Much less attention has been paid to rebudgeting, that is, what governments do to revise and update their budgets during the financial year. Because of its potentially large impact on appropriations, we feel that rebudgeting deserves more attention than it has been granted so far. Our paper uses data from a sample of Italian Municipalities to test some hypotheses on the main drivers for budget revisions. According to our results, rebudgeting is strongly affected by the degree of incrementalism in the initial budgeting process, as well as by several internal and external determinants such as political variables, organisational features, financial conditions, and the local socio-economic environment, appearing to be an important complement of the initial budget
Rebudgeting in Italian local governments: magnitude, processes, and drivers
ANESSI PESSINA, EUGENIO;SICILIA, MARIA FRANCESCA;STECCOLINI, ILEANA
2011
Abstract
Traditionally, the literature has focused on the annual budgetary process. Much less attention has been paid to rebudgeting, that is, what governments do to revise and update their budgets during the financial year. Because of its potentially large impact on appropriations, we feel that rebudgeting deserves more attention than it has been granted so far. Our paper uses data from a sample of Italian Municipalities to test some hypotheses on the main drivers for budget revisions. According to our results, rebudgeting is strongly affected by the degree of incrementalism in the initial budgeting process, as well as by several internal and external determinants such as political variables, organisational features, financial conditions, and the local socio-economic environment, appearing to be an important complement of the initial budget
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