Budget solvency is the government's ability to provide services at the level and quality that are required for the health,safety,and welfare of the community and that its citizens desire.

Question

Quizplus · Accepted Answer

The definition provided is that of service-level solvency, not budget solvency. Budget solvency is a government's ability to generate enough revenue over its normal budgetary period to meet its expenditures and not incur deficits.

Budget Solvency Is the Government's Ability to Provide Services at the Level