Author(s): Radovan Klincov, Mladen Radivojević, Davor Radivojević
Published in: International Journal of Engineering Research & Technology
License: This work is licensed under a Creative Commons Attribution 4.0 International License.
Volume/Issue: Vol. 3 - Issue 8 (August - 2014)
In this paper we examine ontologies and new tools that can help municipalities and cities in The Republic of Srpska create and adopt their budgets faster and more efficiently. We show that using knowledge bases, ontologies and the latest tools for updating knowledge can improve the process of creating and adopting budgets. The model that we propose is simpler than the exisiting procedures in the local self-government units (cities and municipalities). The new model will provide a more accurate projection of revenues and expenditures based on the knowledge bases while they will also provide trend monitoring and better understanding of of the budget structure.
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