From small law offices to federal agencies, all entities within the justice system are governed by complicated economic factors and face daily financial decision-making. A complement to Strategic Finance for Criminal Justice Organizations, this volume considers the justice system from a variety of economic and financial perspectives and introduces

From small law offices to federal agencies, all entities within the justice system are governed by complicated economic factors and face daily financial decision-making. A complement to Strategic Finance for Criminal Justice Organizations, this volume considers the justice system from a variety of economic and financial perspectives and introduces quantitative methods designed to improve the efficiency and effectiveness of organizations in both the non-profit and for-profit sectors. Using only a minimum of theory, Economic and Financial Analysis for Criminal Justice Organizations demonstrates how to make decisions in the justice system using multiple financial and economic models. Designed for readers with little knowledge of advanced mathematics, quantitative analysis, or spreadsheets, the book presents examples using straightforward, step-by-step processes with Excel and Linux Calc spreadsheet software. A variety of different types of decisions are considered, ranging from municipal bond issuance and valuation necessary for public revenues, pension planning, capital investment, determining the best use of monies toward construction projects, and other resource planning, allocation, and forecasting issues. From municipalities and police departments to for-profit prisons and security firms, the quantitative methods presented are designed to improve the efficiency and effectiveness of all organizations in the justice domain.

Traditionally, the study of financial decision making in law enforcement and criminal justice entities has been approached from the perspective of tax revenues and budgeting that focus only on the past and present. Capital investments of cash flow provide future benefits to all organizations, and among courses in business administration, these noti

What are the cost savings from preventing a typical burglary, robbery, assault, or even a criminal career? Who benefits from these savings? How often do the benefits from preventing crime or criminal behavior exceed the resources spent on preventing or controlling crime? Is it more cost-effective to invest in early childhood programs or juvenile boot camps to reduce criminal offending? These are some of the important questions that face policymakers in crime and justice today. Answering them is no easy task. Nevertheless, it is important to provide answers in order to ensure that the dollars devoted to crime reduction are spent as efficiently as possible. The principle aim of Costs and Benefits of Preventing Crime is to report on and assess the present state of knowledge on the monetary costs and benefits of crime prevention programs. Remarkably, this crucial topic has rarely been studied up to the present time. This book examines key methodological issues, reports on the most up-to-date research findings, discusses international policy perspectives, and presents an agenda for future research and policy development on the economic analysis of crime prevention. Throughout, it addresses the important question of how governments should be allocating scarce resources to make crime prevention policy and practice more effective and to produce the greatest economic benefits to society. The book brings together research and perspectives from across North America, Europe, and Australia.

Although evidence-based crime prevention has been identified as a priority in Canada's political and policy settings, very little is known about the economic efficiency of crime prevention programs in the Canadian context. This is an important issue given current fiscal constraints in this country and around the world. To that end, the objective of the following report is to provide an overview of two of the most widely-used economic approaches to assessing the costs and/or financial benefits of crime prevention programs. Cost-effectiveness analysis links program outcomes (e.g., crime reduction) to investment costs in order to estimate the per-outcome expense of a crime prevention project. Cost-benefit analysis takes this a step further and attaches monetary values to program outcomes, which are then compared to program costs in order to provide an estimate of the financial return on investment. Issues and challenges associated with each type of economic analysis approach are discussed, as well as recommendations for next steps.

This book represents the manifestation of a new presentation of old perspectives within the discipline of criminal justice. It contains practical considerations of rendering such decisions, it is expected to be an appropriate reference among practitioner personnel.