Tuesday, October 27, 2015



Coyoacan, is a sort of the hippie neighbor south of the city—although it's old and upper middle class with straight streets and old churches.  The Frida Kahlo museum and the Leo Trotsky museum shouldn't be missed. There are great cantinas here—which have fabulous traditional Mexican food (not tortillas but real food like meatballs, chiles rellenos and spicy yerbas—which you have to try!)  Dinner is lunch and it's from 3:30-5pm. Most people only eat breakfast and then a large dinner/lunch. So most places are packed at those times and not very much before or afterwards, except for after 8pm which is when folks go for evening strolls.  Late at night Mexicans go to Taco places and eat tacos—so you’ll enviable get some of those too.
Coyoacan is known for Frida Kahlo’s house. She is the feminist painter who married Diego Rivera—the famous muralist. http://www.museofridakahlo.org.mx/  It also has  the Leo Trotsky museum, who came to exile in Mexico City because of the  Rivera-Khalo’s relationship with the socialist party. He was the Head of the People’s Soviet Army in Russia before coming to Mexico where he lived, and was assassinated, when Stalin became jealous of his popularity. http://museocasadeleontrotsky.blogspot.mx/  It´s really amazing history there between Rivera-Khalo and Trostky and the Russians, etc.  If you buy books, I’d suggest a stop to http://www.conaculta.gob.mx/elena-garro/inicio.html which is the modern art book store.
The Centro de Coyoacan has many restaurants, bars, the main church and the municipal building, where we will be married. https://en.wikipedia.org/wiki/Coyoac%C3%A1n  It is known for where Hernan Cortes burn the feet of Montezuma the Mexican indigenous warrior looking for gold. San Juan Bautista Cathedral is a beautiful structure for those interested in colonial churches.
Next to Coyoacan is the flower market in San Angel (open 24/7!) and the Saturday Bazaar within San Angel is a place full of interesting cobblestone made streets and old colonial houses.  This is a high end neighborhood with cobblestone streets and high end shopping, restaurants and bars. San Angel neighborhood also has the Museo Estudio Diego Rivera where the famous muralist isolated himself to work. Also recommend going there. http://www.estudiodiegorivera.bellasartes.gob.mx/
But in Coyoacan there is a nice food market just a few blocks from the center.  Both are nice and historic, full of people and colors and food and stuff that you can only imagine! We now live in front of la Plaza la Conchita (Plaza de la Concepción) which is the block where Hernan Cortez lived and married the Mexican Pocahontas—La Malinche. The church is from the 1520s and was built on top of a pyramid.  It's currently being restored.
Francisco Sosa Street in front of the Coyoacan Plaza, which is historic and also in the tourist guide books. On Francisco Sosa (name of the first Mexican researcher on folk culture) street is where several presidents have lived and they actually wrote part of the 1917 constitution (the portion of the land reform). It has cute cafes and restaurants and there is another church Santa Catarina form the 1880s. Los Viveros is the botanical gardens in our neighborhood established by the first Mexican Ecologist Miguel Angel de Quevedo.  Also a nice place to walk after being in the city for awhile.

Here is a map of Coyoacan


Other things to see in Mexico City: include the Teotihuacan pyramids. Like the ones in Yucatan but larger, less tropical, and where more people visit each year.  That is at least a half a day or more, because you have to take a bus to the North part of the city.
The National Archeological museum (http://www.mna.inah.gob.mx/index.html) at one end of the Reforma Street is an amazing world class museum for archeology. Nearby is the new Sotamayor museum that has great AUGUSTE RODIN sculptures and the building is a work of art. (It's located in Polanco.) Carlos Slim, the world's richest man, funded the construction and art. Lastly there is the Chapultepec castle which is nice and located near the Archeological museum and near the bosques de Chapultepec (woods-a large park also in the center of the city) where there is lots of entertainment for tourist (boats, zoo, sculpture gardens, modern art museum, walkways, etc). It was built by the French when they invaded Mexico in the 1870s and looks a lot like you were in Europe seeing their castles. https://en.wikipedia.org/wiki/Chapultepec_Castle
There is the Zocalo which is the city center with the government buildings. This is a must see!!! Every main plaza in Mexico like most of Latin America has a church, government building and some of the most historic restaurants and buildings.  The Templo Mayor (pre-AZtec city center) which is located there and has a great museum on pre-hispanic art and culture. (http://www.templomayor.inah.gob.mx/english_) This is where Gabriel use to work— at the National Palace). There are several bars that look over the Zocalo, which create a nice atmosphere in the evenings.  “Hotel de Mexico,” is a classic where several movies have been produced. There is also  Historico Central and a new Best Western next door has a place called the Majestic. These are also hotels that you might like to stay at, but it's not the safest area of the city at night.

Map of Centro Histórico, Centro, Ciudad de México, D.F.

In the Centro, there are lots of museums related to Mexican history and specialty museums for kids such as the  Museo de Arte Popular (know as "MAP")  is fun to see pop Mexican Art. Here is the full list here: http://www.guiadelcentrohistorico.mx/museos The best place to eat/see near the Centro is the Sanborns, which is just in front of Bellas Artes.  It's the place where Pancho Villa and Emiliano Zapata met during the revolution and have their picture in a cafe.  Also in the Palacio National there is a big Diego Rivera mural which shouldn’t be missed.
The other neighborhoods worth your time include the Condesa (sort of upscale, young folks live in neighborhood like Palermo in Buenos Aires, with lots of cafes and restaurants, etc.)  Otherwise there is Polanco, which has lots of upper scale bars shopping, movies, restaurants (sort of like Georgetown).  I’d suggest you try to stay either near those neighborhoods or better yet near Reforma (center of the city main street). These are 30 min drive with moderate traffic from coyoacan. Polanco has a bunch of high rise hotels major chains, but the neighborhood is so boring but safe!
Other things to see is the Plaza Garibaldi, which is known for bands of mariachi who sit there to get work. You hire them and they go to your party or wherever and sing for the group.  The government  fixed up the plaza with a Tequila museum which is nice for visitors.
Also if you come south go to Xochimilco, which is where you can rent boats and drink on them for fun… they play mariachi and have flowers to give to your loved ones.
Unfortunately (for some and an advantage to others) Mexico City is a bit chaotic and no one really (or at least I haven't seen) a place where there are clear directions to anything. Neither to visit one place over another or one way to drive to a location over another. It's often difficult to find what you are looking for and there are many alternative routes.  Rather, life here is much more about going and finding the place and the experience doing so.  It's not a city/culture that is about setting the plan and going exactly to the address that you have on a map. It's much more about feelings and intuition of the city than the anything else. 
Here is a good web site with tourist info:  http://www.turismo.df.gob.mx

Free download of Micro-Incentives and Municipal Behavior

Micro-Incentives and Municipal Behavior: Political Decentralization and Fiscal Federalism in Argentina and Mexico


The fiscal practices of six cities in Argentina and Mexico were analyzed.
The causal mechanisms of political and fiscal decentralization theory are flawed.
Micro-incentives shape the behavior of subnational public officials.
Vertical fiscal imbalances serve the interests of many subnational actors.
Decentralization theory underestimates the preference for redistributive policy.


This article analyzes the mixed results of political and fiscal decentralization in Latin America by comparing taxing and spending policies in six cities in Argentina and Mexico. Consistent with previous studies, we find that decentralization has been frustrated by overconcentration of power at the provincial level and large vertical fiscal imbalances, though we characterize these as functional elements in a system of redistributive policy-making that benefits a wide array of provincial and municipal actors. We seek to add a new dimension to the literature by arguing that micro-level incentives (conditions and circumstances particular to specific places) are more important determinants of municipal behavior than macro-level structures (those policy and institutional changes intended to make officials more responsive to local conditions – federalism, local elections, intergovernmental transfers, and own-source revenues). We conclude that the theory of decentralization relies on a flawed conception of the causal mechanisms that are hypothesized to create responsiveness in local officials.

Key words

  • decentralization;
  • fiscal federalism;
  • Latin America;
  • Mexico;
  • Argentina

Friday, September 25, 2015

Mexico's New Law Financial Discipline of the States and Municipalities (translated into English)

Of the Interior Ministry, with which forwards the initiative of decree Law Financial Discipline of the States and Municipalities is issued, and the Laws of Fiscal Coordination, General Public Debt are amended, and General Accounting governmental

Mexico City, August 17, 2015.

Board members of the Permanent Commission of the Congress of the Union


On instructions from the President of the Republic and in exercise of the power conferred by Article 71, Section I of the Constitution of the United Mexican States, based on the provisions of Article 27, Section II, of the Organic Law the Federal Government, I would refer the initiative to decree the Law of Financial Discipline of the States and Municipalities is issued, and laws are reformed Fiscal Coordination, General Public Debt and General Government Accounting, in order that for your kind conduit, is sent to the Chamber of Deputies of the Mexican Congress.

Also, based on the provisions of Article 18 of the Federal Budget and Fiscal Responsibility, I accompany the present copies of trades numbers 312.-A-002 859 and 353.A.-0430, the Ministry of Finance and Credit public, by which sends the opinion of budgetary impact.Without further ado, I take this opportunity to reiterate the assurances of my highest consideration.

Mr. Felipe Solis Acero (heading)UndersecretaryChairman of the Board of the Chamber of Deputies of the Mexican CongressPresent


Based on the Article 71, Section I of the Constitution of the United Mexican States, I would submit its worth through, before this honorable assembly, the initiative to decree the Law of Financial Discipline is issued of the States and Municipalities, and the Law of Fiscal Coordination, General Public Debt and General Government Accounting are reformed.

This initiative is submitted for consideration of that sovereignty to regulate the recent constitutional reform in financial discipline of the states and municipalities, which was published in the Official Gazette on 26 May this year.

According to the aforementioned constitutional reform, in terms of Article 73, Sections VIII, and XXIX-W, the Congress has the power to establish laws, the general rules for states, the Federal District and municipalities to incurring indebtedness; the limits and conditions under which such orders may affect government shares allocated to them to cover the loans and payment obligations that contract; the obligation to register them and publish all of their loans and payment obligations in a timely and transparent manner, in a single public record; an alert system to rate the level of indebtedness of such authorities; the possibility of granting the federal guarantee on the debt of states and municipalities; as well as the sanctions applicable to public servants who do not comply.Therefore, one of the main objectives of this initiative is to establish a regulation on fiscal responsibility to allow the states and municipalities conducted under criteria and rules to ensure a responsible and balanced management of public finances, creating favorable conditions for economic growth and stability of the financial system. Specifically, determines provisions for sustainable management of local governments for the recruitment and registration of public debt and other obligations, as well as transparency and accountability, applicable to the states and municipalities.Notably, although not present a systemic risk and the rate of growth of debt in the last two years have been contained, it has been observed that some states and municipalities have a high level of debt. In response, the Permanent Constituent considered urgent address the problem with a comprehensive approach; that is, not only taking into account the situation of these entities, but making a substantive reform definitively promote the sustainability of state and municipal finances.

Thus, it is not only necessary to establish new rules for contracting of public debt, but a new legal framework to standardize the management of public finances as a whole and the responsible use of debt as a tool to finance development. Therefore, the basis for this initiative is rooted in the principles of the Federal Budget and Fiscal Responsibility, recognizing the positive effects generated, but assuming that it may not be applicable to the states and municipalities, given the differences in competition and structure of public finances. This is consistent with the provisions of the XXIX-W infringement of Article 73 of the Constitution, which empowers the Congress to issue different laws on fiscal responsibility for all three levels of government. Therefore, the Federal Budget and Fiscal Responsibility in this area continue to govern for the Federation, while for states and municipalities govern the Law of Financial Discipline of the States and Municipalities which is subject to consideration of that sovereignty.

Briefly, this initiative seeks to achieve its objective through 5 main components:1. Rules on financial discipline, to promote the healthy development of public finances by early landowner liability;

2. Alert System, linked to nivelas debt, debt service and liquidity conditions, allowing for early detection of risk in the debt of public bodies;

3. Recruitment of funding and obligations under the principles of transparency and efficiency, so that their procurement is conducted to lower financial costs and allocating the proceeds to public investment;

4. State guaranteed debt, through which the federation, according to the constitutional authorization, granted its endorsement with the intention of supporting the states and municipalities to reduce the interest rate of its credits. This, in return for agreements generate financial discipline; Y, 

5. Unique Public Registry to register and make transparent all the obligations of local governments.In addition, as envisaged in the recent constitutional reform, there is a need to undertake a reform that not only focuses on the use and allocation of bonds and loans as a mechanism to finance development as the ultimate goal; but in the establishment of principles, criteria and standards leading to a responsible, balanced and efficient use of public resources collected by the states and municipalities exercise.

Therefore, the constitutional reform on financial discipline of the states and municipalities, and this bill are fundamental elements for building a stronger institutional framework for compliance with their responsibilities to the states and municipalities of Mexico. Also, arrange and align budgetary and financial instruments available to these levels of government, they are necessary conditions to ensure proper use and thereby achieving the objectives of the local development planning.Additionally, this initiative provides for adjusting existing provisions of the legal framework in this area. In particular, it aims to amend Article 9 of the Law of Fiscal Coordination, and the name and various provisions of the General Law on Public Debt, to harmonize the various provisions that are linked to the constitutional reform approved on financial discipline the states and municipalities.Based on the general objectives outlined above, the content of this initiative is detailed.

Act I. Financial Discipline of the States and Municipalities

The aim of this new law to ensure sustainable management of public finances of the states, the Federal District and the municipalities of the Republic. In this regard, proposed general principles in budgetary matters, debt, transparency, monitoring and accountability of the use of revenues and the exercise of public spending by states and municipalities, recognizing the difference in managing their public finances and the level of institutional development of these levels of government.The provisions include the proposed new law are as follows:

Title One: Scope and Definitions of the Law

Chapter One: General Provisions

• The law, being regulatory fractions VIII, paragraph 3o. and XXIX-W Article 73 of the Constitution in regard to the states, municipalities and public entities, is to establish the general criteria of financial discipline and fiscal responsibility for sustainable management of public finances (Article 1) .On the other hand, it specifies that public bodies of the states and municipalities must comply with the rules of financial discipline, in line with the accounting standards that apply to them.• definitions applicable under the new law are incorporated. Within the definitions, it highlights the concept of Public Investment Productive. This, considering the legal debate that has occurred in this area and today, under this law (Article 2) specific.

The April 21, 1981, was published in the Official Gazette an amendment to the Constitution through which the Permanent Constitution first introduced the term "Productive Public Investment" to refer to the purpose for which They should be earmarked bonds or loans contracted by states and municipalities.

Elucidating the concept of Public Investment Productive proved challenging in terms of legal interpretation. Although various criteria have been issued on the matter, it is considered necessary to limit this term in the legislation with a view not only to establish greater order in the public finances, but also for the public good.

To limit the scope of this concept, it is made clear that the aim is that the obligations and loans contracted by public bodies are aimed at collective interest generated, directly or indirectly, benefits for society that can boost economic growth of the respective public bodies and, where appropriate, allow the generation of revenue with which to repay the loans taken within the agreed deadlines.Based on the above, and by virtue of a teleological interpretation of the constitutional amendment referred and thesis issued by the plenum of the Supreme Court of Justice of the Nation, Productive Public Investment is defined as all expenditure for which are generated directly or indirectly, a social benefit, and intended: (i) the construction, improvement, rehabilitation and / or replacement of public property; (Ii) the acquisition of assets associated with the equipment of such public property, or (iii) the acquisition of assets for the provision of a specific public service.

An important element of this definition is that it expressly provides that the Public Investment Productive also includes the acquisition of capital goods that will be used to provide a public service, such as patrols, garbage trucks, ambulances, among others.

• the supplementary application of the Federal Law of Budget and Fiscal Responsibility Law of Fiscal Coordination and General Government Accounting Act, empowering for her performance in the administrative sphere to the Secretariat of Finance and Public Credit (Article 3) is established.Regarding the power of interpretation for administrative, by the Secretariat of Finance and Public Credit effects, it is considered necessary that the dependence of the Federal Government may issue interpretive criteria for proper implementation of the Act, taking into consideration the purpose of it, in terms of fractions VIII and XXIX-W Article 73 of the Constitution, is to establish a regulation to be implemented consistently across the states and municipalities in terms of fiscal responsibility and management of public debt.

This is even more relevant in the case of the provisions on extra law (Article 3); the regulation of federal transfers (Articles 2, section XXXVI, 5, 13, section VIII, 17 and 18); General Criteria for Economic Policy (Articles 5 and 18); procurement regulation of public-private partnerships or nullifies federal resources (articles 3, 11, 22, 27, 48 and 51) charge; the hiring of funding from the Federal District (Article 33); granting the federal government guarantee the debt obligations of the states and municipalities (Articles 34-42); System Alerts on the levels of indebtedness of states and municipalities (Articles 43-47); the Single Public Registry of Bonds and Financing (Articles 48-56); the obligations of information and transparency in the framework of the General Law on Government Accounting and in the case of federal transfers in terms of other federal laws (Articles 4, 57 and 58) and on sanctions when referring to federal resources ( Articles 59 to 63).

• On the other hand, is expected to ensure consistency between the proposed law and its obligations under the General Government Accounting Act with regard to the generation of financial information required in the three levels of government, the National Council for Harmonization Accounting shall issue the necessary accounting standards (Article 4).

Title II: Financial Discipline Rules

Chapter I: Sustainable Balance Budget and Fiscal Responsibility states

• It is established as a basic principle of financial discipline, the revenue laws initiatives and projects expenditure budgets of the states are in line with development plans and observe the following (Article 5):

a) which are prepared based on objectives, strategies, goals and performance indicators;

b) To take into account the General Criteria for Economic Policy defined by the Federation; keep consistency with national public finances and transfers and federal contributions that states will receive during the year in question;

c) projections covering a period of five years, in addition to the tax year in question, based on the forms issued by the National Council of Accounting Harmonization take place;

d) identify significant risks for public finances, accompanied by proposals for action to address them, and

e) To include the results of the public finances in the past 5 years and the fiscal year in question.This will strengthen the planning and programming of the budget of the states and their agencies and serve in the decision-making process, both the local Executive to prepare the draft budget (income-expenditure), Legislative during analysis, discussion and approval of the amendment.

It will also provide transparency and encourage accountability of the government budget of the states, and that such information should be made public.

• Recognizing that responsible lending is a tool that supports the development of institutions, the term "sustainable budget balance", both total and resources freely set. To this end, states may not contract financing from paying income source freely available beyond the ceiling of financing that results according to measurement Warning System (Articles 6 and 7).

However, it is recognized that departures may register to that balance, that is, record negative budgetary balances of resources available when the following cases occur:

a) A decrease in federal contributions regarding what was approved in the Budget of Expenditures of the Federation for the fall in Gross Domestic Product in real terms, and that fails to offset the resources of the Stabilization Fund Income Federal States;

b) Cost of reconstruction in order to cope with expenditure pressures resulting from natural disasters;

c) Costs associated with administrative improvements that generate local growth, or that contribute to reducing future spending income. In that case, you need to quantify the amount of imbalance, expose the sources of financing, actions to eliminate it, and the number of years in which the imbalance is reversed.

Note that the states and municipalities, as members of the National System of Fiscal Coordination, receive transfers from the Federation. Such transfers shall constitute revenue for the states, which in the case of shares, may be used freely or, in the case of contributions should be earmarked for specific purposes, such as education, health, infrastructure and other services public order. The proper use of these resources, ie the use thereof according to the assigned destination, it is a central part of financial discipline. In this sense, the states and municipalities must exercise freely, only the resources in respect of shares and, according to the predetermined order, the resource that has a specific destination.

In addition to the aggregated balance sheet included in the public accounts of entities and municipalities, including the concept of budget balance available resources, contributes to a better understanding of spending pressures faced by local governments. This balance is made up of disposable incomes, which can be used by the federal entity to own decision and financing, less the expenses whose financing source are such income, except Similarly, the payment of capital. The separation of the financial balance of resources is essential to specify and understand the specific spending pressures that records a local public body.

In terms of this initiative, this balance can not be negative, except for the existence of the aforementioned exceptional cases. Importantly, considering the resource earmarked by law it should only be exercised in certain areas, your balance at all times must be sustainable.

• In line with Article 126 of the Constitution, the law incorporates the principles of unity and universality of the budget, provided that only expenditures under the same or later approved by law (Article 8) may be made.

It follows from that, the increase or new spending that is approved, both in the budget discussion, and during the fiscal year, must be previously funded; ie is expressly required before approving a revenue or expenditure cuts which will cover the new expenditure.

• In our country faces recurrent contingent events generated by nature or accidental causes of damage to people and property as well as public infrastructure. Therefore, it is contemplated that the states included in its Budget of Expenditures, reserves for such damage and to take actions to prevent and mitigate its impact on state finances. Budgeted resources should be provided to a public trust, which will provide total transparency to their management (Article 9).

This does not imply, in any way, changes to the procedures established in the General Law of Civil Protection. Financial mechanisms for risk management will continue to operate according to their respective rules, serving as appropriate for the financing of such obligations not covered by local governments complement.

The resources provided must be designed, first, to finance the reconstruction works and actions of state infrastructure approved under the General Rules of the Fund for Natural Disasters, as a counterpart to the federal entity to the agreed programs of reconstruction with the Federation.To avoid excessive accumulation of resources in the trust, is expected if the balance accumulates an amount that exceeds the average cost of rebuilding the state's infrastructure over the past five years, the federal entity can use the remnant that appropriate for prevention and mitigation.

• Within local government finances, the payroll is one of the chapters of spending more pressure and more growth. That is why, as a prudent budgetary approach, it is proposed to implement a growth ceiling compute fully to this chapter of expenditure (Article 10).

Additionally, it is considered appropriate to generate a policy of greater transparency in this chapter of expenditure, through the inclusion of a specific section of the draft budget that details the concepts of spending, wage provisions to cover salary increases and the creation of places, among others elements.

• schemes of public-private partnerships are another option for Public Investment Productive and provide public services by public bodies. The financial structures of these schemes contemplated as the primary source of repayment of the public entity contracting budget. That is why the Financial Discipline Act regulates that public entities that hire or structures are to hire public-private partnerships are required to consider in their budget forecasts expenditures necessary to meet such commitments. This measure gives legal certainty to the investor supplier and therefore, helps to create better conditions to the public body (Article 11).

• Debts limit for the preceding fiscal year (Adefas), which may be up to two percent of total revenues of the public entity, since it involves the use of Adefas financing through suppliers of the entity is established federal or municipality (Article 12).

• principles of financial discipline to be observed by the states and public bodies in the exercise of public expenditure (Article 13) are set: 

a) One may commit resources against the approved budget, having previously budgetary sufficiency, by reserving resources in the specific budget programs and identifying the source of income; 
b) They may make additional to those adopted in the Expenditure Budget, only under surplus revenues, provided they have the authorization of the Ministry of Finance or equivalent expenditure; 
c) As a way of standardizing the means of evaluating projects at the local level, when they exceed more than 10 million investment units (UDI) amount, must have a cost-benefit analysis and generate a net social benefit, under reasonable assumptions. This shall not apply where such projects are intended for priority and immediate response to natural disasters.

It also foresees that each state should have an area responsible for assessing this analysis; and to integrate and manage the registration of productive public investment projects of the corresponding state. The creation of a specialized area, encourage the timely generation of state banks projects that meet a minimum standard requirements, generating a virtuous circle in the fulfillment and execution of the works.

Additionally, in the case of productive public investment projects that aim to employ under a scheme of public-private partnership, public authorities must prove, at least, an analysis of convenience to carry out the project through this scheme compared to traditional public works mechanism and an analysis of risk transfer to the private sector. Above, to ensure that the scheme used is the most efficient.

Remarkably, as do several of the transparency measures implemented through this Act, assessments should be made public through the websites of the ministries of finance or equivalent;d) Only proceed to make payments for accrued concepts effectively, provided the rates have been registered and recorded in the Expenditure Budget approved;

e) The personal service overall allocation originally approved in the Expenditure Budget may not be increased during the fiscal year. Additionally, the Ministry of Finance shall keep a record and control of expenditures made under this chapter of expenditure, in order to integrate a complete list by the Executive that allows you to better plan this category;

f) They shall take steps to rationalize current spending. Savings and savings generated by these measures, as well as those resulting from the concept of a financial cost of public debt under budget, will target first, correct the negative budget balance of available resources and subsequently to the priority programs;

g) In terms of subsidies, should identify the target population, purpose or main destination and timing of grant. The mechanics of distribution should ensure that resources are delivered to this population, and that administrative costs are reduced. Such information should be made public, via the Internet, and

h) Once the validity of the Expenditure Budget, only proceed to make payments based on the budget for the items actually accrued in the corresponding year and that has been registered in the report of accounts payable or integrating current liabilities at year-end.

• Another reasonable measure included in this law, is the fate of surplus disposable incomes. It establishes that the states should be allocated at least fifty percent to the amortization of the public debt, payment of debts from previous fiscal years, current liabilities and obligations, in which case the balance represents a decrease registered in your Public Account at the end of the immediately preceding fiscal year, as well as fund management of natural disasters and pensions.

The remainder would be earmarked for public investment projects through a fund to be set up for this purpose, so that the appropriate resources are exercised later than the immediately following year or the creation of a fund to supplement a possible declining revenue in the future (Article 14).This principle seeks to improve the sustainability of public finances and at the same time, avoid new spending with revenue not generated regularly funded.

• If during the fiscal year decrease expected income for the fiscal year, the adjustment shall perform the states (Article 15) are set.

In this regard, an order of priority is determined to make adjustments to expenditures, beginning with media spending and operating expenses, before affecting the priority programs of the government. In the latter case, there will always be taken not affect social programs.

• the obligation for the local Executive, making the estimated budgetary impact of proposed laws or decrees submitted to the local legislature, as well as provisions involving administrative costs for implementation (Article 16) is expected.

This, in order that the cost of implementing a regulation submitted to the local legislature, is identified and undoubtedly a factor for decision-making in the approval process.

Similarly, it is proposed that any bill or decree to be put to the vote in plenary of the local legislature, in its opinion should include an estimate of corresponding budgetary impact of the project.

• Finally, this chapter regulation on federal resources with specific destination, the end of the fiscal year have not been disbursed by the states and municipalities (Article 17) is expected.

Registro de Revistas sobre Administración Pública, Gestión y Política Pública en Latinoamérica

Aqui esta un Registro de revistas que trabaja los temas de administración pública, gestión y política pública en Latinoamérica .  Falta ...