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Covered in this article is every penny spent in every operation and process of government at any level, as reported from the 99% unaudited annual financial statements and operational reports of the governments of the world.
Prevent waste Today, one goal of a government owned corporation is usually to attempt to avoid the perceived worst excesses of centralised governmental planning and control (compare nationalisation, command economy) by placing such an entity at "arm's length" and adopting/adapting some of the perceived efficiencies/democratisation of corporate structure and governance such as separate Boards of Directors with independent (external) members.
External review Some governments let external analysts review the operations and financials just like Wall Street analysts review public companies. An import element of that review is to hold regular, perhaps quarterly, public conference calls between management and analysts. Which are recorded for anyone to hear. This is however so far (2004) a rare occurance.
Government-owned corporations
Services Government subsidiaries may produce services like:
Goods Government subsidiaries may produce goods like:
Local government At the level of local government, territorial or other authorities may set up government corporations such as "Local Authority Trading Enterprises" (LATEs).
Commonwealth of Nations See also: crown corporation, state-owned enterprises of New Zealand
In monarchical commonwealth countries country-wide government corporations often use the style "crown corporation". Notable exceptions include both the state-owned enterprises and the crown entities in New Zealand. Examples of crown corporations include the Canadian Broadcasting Corporation (CBC) in Canada and Air Canada before it underwent privatisation. Cabinet ministers (ministers of the crown) often control the shares in such public corporations.
United States Main article: United States government operations
In the United States, businesses that are government owned include Amtrak and the United States Postal Service. Many states have government owned businesses for operations as well. Generally speaking, a statute passed by a legislature specifically sets up a government owned company in order to undertake a specific public purpose with public funds or public property.
By business From the US Treasury Financial Statements for the year ended September 30, 2004
Department of Agriculture The Department of Agriculture ... - Expenditures: 84.1 billion
Department of Defense The Department of Defense ... - Expenditures: $672.1 billion
Department of Education The Department of Education operates ... - Expenditures: $63.9 billion
Department of Health & Human Services See also: social security (United States)
The Department of Health & Human Services ...
- Expenditures: $583.9 billion
Department of Justice The Department of Justice ... - Expenditures: $35.4 billion
Office of Personnel Management The Office of Personnel Management ... - Expenditures: $22.3 billion
Social Security Administration The Social Security Administration (SSA) manages the United States' social insurance program, consisting of retirement, disability, and survivors benefits. - Expenditures: $534.9 billion
U.S. Postal Service The U.S. Postal Service (USPS) ... - Expenditures: $54.0 billion
By level During 2003. From [1] (http://www.bea.doc.gov/bea/dn/nipaweb/SelectTable.asp) - All
- Expenditures: $3,399.7 billion
- Federal
- Expenditures: $2,241.6 billion
- State and local
- Expenditures: $1,498.1 billion
Privatization Main article: privatization
In Japan, Japan Post is partially owned by the government, but is about to get sold to the public during the following years (following 2004). Japan Railway (JR), NTT and Japan Tobacco was formally owned by the government.
See also
External links
United States
All levels - Current Report: Financial Report of the United States: Publications & Guidance: Financial Management Service (http://www.fms.treas.gov/fr/)
Federal level - Current Report: Combined Statement of Receipts, Outlays, and Balances of the United States Government (Combined Statement): Publications & Guidance: Financial Management Service (http://fms.treas.gov/annualreport/)
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