Public sector budgeting is the means by which public resources are allocated and, as such, are central to the role of government. Public financial management concerns the mobilization of resources on the one hand and the management of expenditures on the other hand. For these reasons, budgeting and financial management are core to the economic and public sector reform programs in most countries. With growing pressures for enhanced service delivery and the challenges of budgetary crises and fiscal shocks, improved budget processes and innovative financial management techniques are especially critical in developing and emerging economies. This course provides participants with the fundamentals of public sector budgeting and financial management and equips them with the requisite practical skills for understanding, analyzing and preparing budgets. It covers management of expenditures, the budget cycle, the budget process including players and the strategies they employ, planning, drafting budgets, execution, taxation, accounting, auditing and evaluation to complete a cycle.
Who Should Attend this Course?
- Public Financial Management professionals
- Budget analysts
- Administrators and officials in ministries of finance and planning
- Managers of public enterprises
- Development officers
- Senior managers in government
- Anybody who seeks to broaden their knowledge and improve their skills in Public Sector Budgeting and Financial Management
Learning Outcomes At the end of the training participants will be able to:
- Understand the principles of financial management for donor/grant funded projects.
- Appreciate how financial management and budgeting are interrelated.
- Understand project finance and budgeting.
- Understand the fundamentals of public sector budgeting and financial management
- Interpret and reflect on simple public sector financial statements
- Understand how governments raise finance through various means
- Gain comprehensive insight into the budget preparation: from decentralized responsibility to autonomous institutions
- Comprehend how auditing is conducted in public sector organizations
- Understand how public sector organizations are held accountable to the public
- Understand and discuss the inspection of state finances on best-practices in monitoring, reporting and spending reviews of the budget
- Familiarize with several other important financial management activities