Table 1. Top 10 Topics Covered in Core/Required Courses

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4 (See Table 1.)

5 Table 1. Top 10 Topics Covered in Core/Required Courses All Schools Schools with Public Budget/Finance Schools without Public Budget/Finance % Specialization % Specialization % Budget Execution 67 Budget Execution 76 Budget Analysis 63 Budget Analysis 66 Budget Reform 76 Budget Preparation/ 63 Budget Preparation/ 66 Budget Analysis 69 Performance Budgeting 63 Performance Budgeting 66 Budget Preparation/ 69 Capital Budgeting/Planning 63 Budget Reform 64 Performance Budgeting 69 Budget Execution 61 Capital Budgeting/Planning 64 Capital Budgeting/Planning 66 Fund Accounting 61 Politics of Public Budgeting 60 Market Failure 66 Politics of Public Budgeting 58 Fund Accounting 58 Politics of Public Budgeting 62 Fiscal Federalism 58 Intergovernmental Grants 55 Break-even Analysis 62 Budget Reform 55 Sales Taxation 55 Cost-Benefit Analysis 62 Sales Taxation 55 Table based on responses from 67 institutions; 29 of responding institutions are categorized as having a specialization in public financial management, while the remaining 38 do not.

6 (See Table 2.) Table 2. Top 10 Topics by Time Spent A lot (3-plus hours) or Quite a bit (1-3 hours) % Specialization % Non-specialization % Capital Budgeting/Planning 49 Budget Analysis 52 Capital Budgeting/Planning 53 Budget Analysis 48 Budget Execution 52 Politics of Public Budgeting 50 Budget Execution 46 Capital Budgeting/Planning 45 Performance Budgeting 50 Budget Preparation/ 43 Cost-Benefit Analysis 45 Budget Analysis 45 Politics of Public Budgeting 43 Debt Management 45 Budget Preparation/ 45 Property Taxation 42 Financial Condition Analysis 45 Budget Execution 42 Performance Budgeting 42 Budget Preparation/ 41 Property Taxation 42 Cost-Benefit Analysis 40 Property Taxation 41 Cost-Benefit Analysis 37 Debt Management 39 Balance Sheet 41 Income Taxation 34 Balance Sheet 36 Politics of Public Budgeting 34 Debt Management 34 Table based on responses from 67 institutions; 29 of responding institutions are categorized as having a specialization in public financial management, while the remaining 38 do not.

7 Table 3. Top 10 Topics by Importance Extremely or Very Important % Specialization % Non-specialization % Budget Analysis 45 Budget Analysis 45 Politics of Public Budgeting 50 Budget Preparation/ 43 Budget Preparation/ 45 Budget Analysis 45 Budget Execution 42 Budget Execution 45 Budget Preparation/ 42 Politics of Public Budgeting 42 Performance Budgeting 38 Performance Budgeting 42 Performance Budgeting 40 Capital Budgeting/Planning 38 Budget Execution 39 Capital Budgeting/Planning 37 User Fees and Charges 38 Balance Sheet 39 Balance Sheet 36 Debt Management 34 Property Taxation 39 Property Taxation 36 Cost-Benefit Analysis 34 Fund Accounting 39 Fund Accounting 34 Intergovernmental Grants 34 Revenue Forecasting 37 User Fees and Charges 34 Politics of Public Budgeting 31 Capital Budgeting/Planning 37 Table based on responses from 67 institutions; 29 of responding institutions are categorized as having a specialization in public financial management, while the remaining 38 do not. (See Table 3.) (See Appendix 1.) (See Appendices 2 & 3.)

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9 Appendix 1. Ranking of topics covered in core courses, overall and by specialization Topic Specialization Budget Execution Budget Analysis Budget Preparation/ Performance Budgeting Budget Reform Capital Budgeting/Planning Politics of Public Budgeting Fund Accounting Non-specialization Intergovernmental Grants Sales Taxation User Fees and Charges Bases of Accounting Fiscal Federalism Market Failure Debt Management Fiscal Policy Income Taxation Property Taxation Public Expenditures Revenue Forecasting Theories of Budgeting Break-even Analysis Cost-Benefit Analysis Expenditure Forecasting Tax Expenditures Time Value of Money Cash Management Auditing Balance Sheet Cash Flow Statement Financial Statement Analysis Intergenerational Equity Topic Revenue Administration Unemployment, Inflation, GDP Cost Measurement Financial Condition Analysis Government Financial Accounting Demand & Supply/Equilibrium Operating Statements Perfect Competition Personnel Budgeting The Federal Reserve Aggregate Demand & Supply Monetary Policy Political Economy Public Choice Social Welfare Pension Funding Social Insurance Consumer Theory Optimal Taxation Uncertainty/Risk Aversion Financial Information Systems Procurement Risk Management Asymmetric Information Producer Theory Labor Markets Theory of the Firm Asset Markets FIFO vs. LIFO Investment Analysis Nonprofit accounting Public School Finance Table based on responses from 67 institutions; 29 of responding institutions are categorized as having a specialization in public financial management, while the remaining 38 do not. Specialization Non-specialization

10 Appendix 2. Topics ranked by time spent teaching, overall and by specialization Topic Specialization Capital Budgeting/Planning Budget Analysis Budget Execution Budget Preparation/ Politics of Public Budgeting Property Taxation Performance Budgeting Cost-Benefit Analysis Non-specialization Debt Management Balance Sheet Financial Condition Analysis Income Taxation Government Financial Accounting Revenue Forecasting Theories of Budgeting Financial Statement Analysis Budget Reform Time Value of Money Public Expenditures Nonprofit accounting Cash Flow Statement Cost Measurement Auditing Sales Taxation Revenue Administration Fund Accounting Cash Management User Fees and Charges Bases of Accounting Expenditure Forecasting Operating Statements Market Failure Topic Intergovernmental Grants Tax Expenditures Fiscal Federalism Fiscal Policy Demand & Supply/Equilibrium Unemployment, Inflation, GDP Break-even Analysis Investment Analysis Aggregate Demand & Supply Risk Management Public Choice Political Economy Public School Finance Monetary Policy Asset Markets Social Welfare Perfect Competition Consumer Theory Personnel Budgeting Theory of the Firm The Federal Reserve Social Insurance Procurement Producer Theory Optimal Taxation Pension Funding Labor Markets Financial Information Systems Uncertainty/Risk Aversion Intergenerational Equity Asymmetric Information FIFO vs. LIFO Table based on responses from 67 institutions; 29 of responding institutions are categorized as having a specialization in public financial management, while the remaining 38 do not. Specialization Non-specialization

11 Appendix 3. Topics ranked by importance, overall and by specialization Topic Specialization Budget Analysis Budget Preparation/ Budget Execution Politics of Public Budgeting Performance Budgeting Non-specialization Capital Budgeting/Planning Balance Sheet Property Taxation Fund Accounting User Fees and Charges Revenue Forecasting Debt Management Operating Statements Expenditure Forecasting Public Expenditures Time Value of Money Bases of Accounting Cost Measurement Cost-Benefit Analysis Intergovernmental Grants Market Failure Nonprofit accounting Financial Statement Analysis Cash Management Financial Condition Analysis Cash Flow Statement Fiscal Federalism Break-even Analysis Auditing Income Taxation Sales Taxation Procurement Topic Revenue Administration Theories of Budgeting Government Financial Accounting Pension Funding Personnel Budgeting Risk Management Budget Reform Demand & Supply/Equilibrium Investment Analysis Uncertainty/Risk Aversion Tax Expenditures Unemployment, Inflation, GDP Fiscal Policy Public School Finance Aggregate Demand & Supply Political Economy Asset Markets Intergenerational Equity Monetary Policy Public Choice The Federal Reserve Optimal Taxation Perfect Competition Producer Theory Financial Information Systems Social Welfare Theory of the Firm Consumer Theory Labor Markets Asymmetric Information Social Insurance FIFO vs. LIFO Table based on responses from 67 institutions; 29 of responding institutions are categorized as having a specialization in public financial management, while the remaining 38 do not. Specialization Non-specialization

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