L. R. JONES is Professor of Financial Management and Budgeting, Department of Administrative Sciences, the Naval Postgraduate School at Monterey, California, and President of Management and Policy Associates, Inc., a research and management consulting firm. He is the author of University Budgeting for Critical Mass and Competition, coauthor of Regulatory Policy and Practices, and has written numerous articles and monographs in the areas of public financial management and regulatory policy.JERRY L. McCAFFERY is Professor of Financial Management and Budgeting, Department of Administrative Sciences, the Naval Postgraduate School at Monterey, California. He is the author of Budgetmaster, a guide to budgeting with computers, as well as a number of articles on budgeting in the public sector.