Understanding MBS
This book examines the principles, objectives and features of the federal government budgeting system – the Modified Budgeting System (MBS). This book describes MBS as the Treasury first conceived it. The practice has deviated from the true spirit of budgeting envisaged by MBS when it was first implemented. MBS is in danger of going the way PPBS did. It is in danger of being overwhelmed by the line item budgeting. And, it is in danger of losing its edge in performance measurement and evaluation. This book hopes to revive interest and knowledge in MBS.