Considering that state governments are in the business of providing services to the public, their financial statements may be an area of interest. In order to get a handle on the state’s fiscal health, taxpayers should be provided with a reliable and transparent set of financials. To ensure that the state is well positioned to meet future taxpayer demands, revenues should be sufficient to cover the cost of services that have already been delivered. It is also incumbent upon the elected to take the necessary steps to prevent financial mismanagement.
The first step in achieving this noble goal is to determine what the state is based on. This may be done by utilizing the most accurate and complete demographic data from various sources. For example, one should inquire about the population’s gender, race, and age. By doing so, the appropriate policies can be put in place to reduce inequalities. Finally, to make sure that a proper balance is struck between public and private sector efforts, a robust system of telecommunications and information sharing is in order. After a thorough investigation, the most effective methods of communication can be implemented to facilitate a more collaborative, efficient and productive government.
Ultimately, the ensuing discussions can help the state hone in on the most effective and cost-effective means of providing services to its citizens. To that end, the state should be cognizant of the fact that democracy is not a fortress and that all citizens are equal. Hence, state governments are obligated to adhere to fair, transparent and non-discriminatory laws and regulations, as well as ensuring that all the relevant stakeholders are well-served. Lastly, the state should be aware that a free market accompanied by an inclusive and equitable regime yields stable growth rates and a viable economy.
