| Effective Term: | 2025/05 |
| Institute / School : | Institute of Innovation, Science & Sustainability |
| Unit Title: | Public Finance and Budgeting |
| Unit ID: | DLGLM1003 |
| Credit Points: | 15.00 |
| Prerequisite(s): | (DLGLM1000) |
| Co-requisite(s): | Nil |
| Exclusion(s): | Nil |
| ASCED: | 080300 |
| Other Change: | |
| Brief description of the Unit |
This unit examines the importance of public finance and the use of budgeting techniques as a means of controlling revenue and expenses in local government, aiming to discover the most economic, efficient and effective way to allocate resources to accomplish objectives. Students will gain an understanding of key theoretical frameworks, concepts and practical approaches of modern public sector finance and budgeting; identify sources of funding, prioritising expenditures; and assess what financial concepts can be used to evaluate and manage projects. |
| Grade Scheme: | Graded (HD, D, C, P, MF, F, XF) |
| Work Experience Indicator: |
| No work experience |
| Placement Component: | |
| Supplementary Assessment:Yes |
| Where supplementary assessment is available a student must have failed overall in the Unit but gained a final mark of 45 per cent or above, has completed all major assessment tasks (including all sub-components where a task has multiple parts) as specified in the Unit Description and is not eligible for any other form of supplementary assessment |
| Course Level: |
| Level of Unit in Course | AQF Level(s) of Course | | 5 | 6 | 7 | 8 | 9 | 10 | | Introductory | | | | | | | | Intermediate | | | |  | | | | Advanced | | | | | | |
|
| Learning Outcomes: |
| Knowledge: |
| K1. | Describe the foundations of public sector finance, including cost concepts, cost classifications, cost allocation, and accumulation for local government planning and control. |
|
| K2. | Describe the financial tools and techniques to analyse and evaluate financial decisions accurately. |
|
| K3. | Assess the financial sustainability of local government while achieving operational objectives, including the review of the finance and treasury functions in local government; financial policies; and analysis of local government income and expenditure; and drafting and managing budgets. |
|
| K4. | Assess how financial concepts can be used to evaluate the feasibility and support the management of projects in local government. |
|
| Skills: |
| S1. | Demonstrate theoretical and practical knowledge of the finance function to evaluate the effects of alternative economic and financial policies. |
|
| S2. | Conduct financial analysis and reporting |
|
| S3. | Demonstrate skills in planning, developing, and implementing budgets, through the preparation of reports, draft budgets, forecasts, and analysis of financial information. |
|
| Application of knowledge and skills: |
| A1. | Appraise and communicate financial information and concepts to key stakeholders for controlling, and decision-making purposes. |
|
| A2. | Assess options for ensuring financial sustainability in local government through management of income and expenditure. |
|
| Unit Content: |
Topics may include: - Introduction to modern public sector financial management practices
- Tools for public financial planning
- Cost and incremental cost analysis
- Public investment appraisal techniques
- Cost-benefit analysis
- Financial performance analysis
- Public budgeting
- Public debt capacity analysis
- Financial risk assessment
|
| Graduate Attributes: |
| Federation University recognises that students require key transferable employability skills to prepare them for their future workplace and society. FEDTASKS (Transferable Attributes Skills and Knowledge) provide a targeted focus on five key transferable Attributes, Skills, and Knowledge that are be embedded within curriculum, developed gradually towards successful measures and interlinked with cross-discipline and Co-operative Learning opportunities. One or more FEDTASK, transferable Attributes, Skills or Knowledge must be evident in the specified learning outcomes and assessment for each FedUni Unit, and all must be directly assessed in each Course.
|
| FED TASK and descriptor | Development and acquisition of FEDTASKS in the Unit | | Level | FEDTASK 1
Interpersonal | Students will demonstrate high-level skills to effectively communicate, interact and work with others both individually and in groups Students will be required to display (in person and/or online) high-level skills in-person and/or online in: • Effective verbal and non-verbal communication via a range of synchronous and asynchronous methods • Active listening for meaning and influencing • High-level empathy for others • Negotiating and demonstrating extended conflict resolution skills • Working respectfully in cross-cultural and diverse teams | 1 - Yes | FEDTASK 2
Leadership | Students will demonstrate the ability to apply leadership skills and behaviours Students will be required to display skills in: • Creating, contributing to, and enabling collegial environments • Showing self-awareness and the ability to self-reflect for personal growth • Inspiring and enabling others • Making informed and evidence-based decisions through consultation with others • Displaying initiative and ability to solve problems | 1 - Yes | FEDTASK 3
Critical Thinking and Creativity | Students will demonstrate an ability to work in complex and ambiguous environments, using their imagination to create new ideas Students will be required to display skills in: • Reflecting critically on complex problems • Synthesising, evaluating ideas, concepts and information • Proposing alternative perspectives to refine ideas • Challenging conventional thinking to clarify concepts through deep inquiry • Proposing creative solutions in problem solving | 1 - Yes | FEDTASK 4
Digital Literacy | Students will demonstrate the ability to work proficiently across a range of tools, platforms and applications to achieve a range of tasks Students will be required to display high-level skills in: • Finding, accessing, collating, evaluating, managing, curating, organising and appropriately and securely sharing complex digital information at a high-level • Receiving and responding to messages in a range of digital media • Using digital tools appropriately to conduct research • Contributing proficiently to digital teams and working groups • Participating in and utilising digital learning opportunities | 1 - Yes | FEDTASK 5
Sustainable and Ethical Mindset | Students will demonstrate the ability to think ethically and sustainably. Students will be required to display skills in: • The responsible conduct of research • Making informed judgments that consider the impact of devising solutions in multiple global economic environmental and societal contexts • Demonstrating commitment to social responsibility as a professional and a citizen • Generating research solutions which are sustainable,ethical, socially responsible and/or sustainable • Extending lifelong, life-wide and life-deep learning to be open to diverse others • Demonstrate extended actions to foster sustainability in their professional and personal life. | 1 - Yes |
|
| | Learning Outcomes Assessed | Assessment Tasks | Assessment Type | Weighting | | 1. | K1, K2, K4, S1, S2, A1, A2 | Group/individual presentation and or task | Presentation | 20 - 40% | | 2. | K2, K3, K4, S1, S2, S3, A1, A2 | Final report on public finance & budgeting | Written Report | 60 - 80% |
|