Download or read book DfID financial management written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2011-10-20 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report examines the Department for International Development's financial management capability, its increasing focus on value for money, and the challenges it faces in managing its increasing programme budget while reducing its overall running costs. DFID is protected from overall expenditure reductions as the Government has committed to increasing the UK's aid spending to 0.7% of gross national income by 2013. The Department faces a substantial challenge to improve its financial management while reducing its administration costs by a third over the next four years. The Committee welcomes the planned introduction, in 2011, of a finance improvement plan. DFID must now keep up the focus on better financial management. There is concern that the Department does not quantify the likely level of leakage through fraud and corruption. And DFID is only considering fraud risk at the level of delivery method rather than at a country level. Management of fraud risk will require a stronger framework for ensuring money is properly spent on the ground, with effective monitoring and pro-active anti-fraud work. The likely increase in funding via multilateral organisations (which then determine how to distribute the aid worldwide) might not ensure value for money as DFID does not have the same visibility over the cost and performance of multilaterals' programmes as it does over its own bilateral programmes. Finally, the Committee is concerned that the Department still has insufficient data to make informed investment decisions based on value for money.

Download or read book Financial management report written by Great Britain: National Audit Office and published by The Stationery Office. This book was released on 2011-04-06 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sound financial management will be essential at the Department for International Development as its spending increases by a third over the next four years. The Department has put important building blocks in place; however its financial management is not yet mature. The Department cannot yet assess important aspects of the value for money of the aid it has delivered, at an aggregated level. The Department's programme budget will grow by £3.3 billion from 2010-11 to 2014-15 (34 per cent in real terms). At the same time, its administration budget is going to reduce by a third. The Department has increased the number of finance professionals it employs, but this expertise needs to be used more effectively across the business. In addition, new financial information systems do not yet provide the data needed to support well-founded decisions and forecasts are still an area of weakness. After a thorough review the Department now has a high level plan. Along with actions to strengthen measurement of aid projects, this has the potential to help strengthen the focus on aid results and value for money. But key risks need to be managed and a single strategy for doing so is needed. With greater spending in higher risk locations and more fragile states more must be done to assure that fraud and corruption risks are minimised. Although the level of reported fraud is low, it is likely to be under-reported. The NAO has found that the investigation of fraud is reactive and the Department does not attempt to quantify its estimated likely fraud losses

Download or read book Assessing and Reforming Public Financial Management written by Richard Allen and published by World Bank Publications. This book was released on 2004 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study compares the various instruments and approaches used by the World Bank, the European Commission, the International Monetary Fund, the Strategic Partnership for Africa and several bilateral donor agencies to assess and reform public expenditure management systems in developing and transitional countries. It identifies weaknesses in the current system and recommends a new medium-term, country-led, multidonor approach which is focused on better budgetary management supplemented by donor aid funds, as a key mechanism to reduce poverty and attain other policy goals.

Download or read book PEFA Public Financial Management and Good Governance written by Jens Kromann Kristensen and published by World Bank Publications. This book was released on 2019-11-24 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: This project, based on the Public Expenditure and Financial Accountability (PEFA) data set, researched how PEFA can be used to shape policy development in public financial management (PFM) and other major relevant policy areas such as anticorruption, revenue mobilization, political economy analysis, and fragile states. The report explores what shapes the PFM system in low- and middle-income countries by examining the relationship between political institutions and the quality of the PFM system. Although the report finds some evidence that multiple political parties in control of the legislature is associated with better PFM performance, the report finds the need to further refine and test the theories on the relationship between political institutions and PFM. The report addresses the question of the outcomes of PFM systems, distinguishing between fragile and nonfragile states. It finds that better PFM performance is associated with more reliable budgets in terms of expenditure composition in fragile states, but not aggregate budget credibility. Moreover, in contrast to existing studies, it finds no evidence that PFM quality matters for deficit and debt ratios, irrespective of whether a country is fragile or not. The report also explores the relationship between perceptions of corruption and PFM performance. It finds strong evidence of a relationship between better PFM performance and improvements in perceptions of corruption. It also finds that PFM reforms associated with better controls have a stronger relationship with improvements in perceptions of corruption compared to PFM reforms associated with more transparency. The last chapter looks at the relationship between PEFA indicators for revenue administration and domestic resource mobilization. It focuses on the credible use of penalties for noncompliance as a proxy for the type of political commitment required to improve tax performance. The analysis shows that countries that credibly enforce penalties for noncompliance collect more taxes on average.

Download or read book Providing budget support to developing countries written by Great Britain: National Audit Office and published by The Stationery Office. This book was released on 2008-02-08 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: Budget support is aid provided directly to a partner government's central exchequer, and aims to reduce poverty through helping to fund the poverty reduction strategy of the beneficiary country. DFID's use of budget support has risen to £461 million, representing nearly twenty per cent of bilateral expenditure. This study examines the aims of budget support, what it is achieving, how DFID manages the risks of using it and how DFID takes individual funding decisions. The report finds that budget support has: often enabled partner governments to increase expenditure on priority areas; resulted in partner governments providing more services, particularly in health and education; helped increase the capacity of partner governments to plan and deliver services effectively and to develop better poverty-focused policies; helped partner governments to strengthen their financial management systems and encouraged other donors to support such reforms; facilitated donor alignment to, and support for, the developing nation's own strategies; and reinforced existing economic stability and good economic management. But evidence on whether budget support has yielded better value for money than other forms of aid is not conclusive. While budget support has some advantages compared to other forms of aid, it also carries significant risks which need to be better managed. Monitoring achievement is challenging, and DFID does not always set out what it expects to achieve or by when. Formal monitoring frameworks do not always track progress in remedying weaknesses in financial systems. And monitoring of human rights - one of the key criteria for giving budget support - is not yet systematic. Weaknesses in available statistics continue to limit the ability to monitor results. Developing country governments may not be capable of using UK funds efficiently and effectively or may misuse them for political reasons or through corruption.

Download or read book Federal Financial Management Report written by and published by . This book was released on 2004 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book UK Aid written by Great Britain: H.M. Treasury and published by . This book was released on 2015-11-24 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Government recognises that aid spending has sometimes been controversial at home because people want to know that it is squarely in the UK's national interest. Recent crises have proved, though, why aid is so important for us as well as for the countries we assist. The 2015 Spending Review is therefore being used to fundamentally review how this budget is spent. Spending will be shaped according to four strategic objectives. The strategy sets out how, as a result of the new approach, we will: allocate 50% of all DFID's spending to fragile states and regions; increase aid spending for the Syrian crisis and the related region; end all traditional general budget support - so we can better target spending; use an expanded cross-government Conflict, Stability and Security Fund (CSSF) to underpin our security objectives by supporting the international work of the National Security Council (NSC); create a £500 million ODA crisis reserve to allow still greater flexibility to respond to emerging crises such as the displacement of Syrian refugees; fund a new £1 billion commitment to global public health (the "Ross Fund") which will fund work to tackle the most dangerous infectious diseases, including malaria. The fund will also support work to fight diseases of epidemic potential, such as Ebola, neglected tropical diseases, and drug resistant infections; and use a new cross-government Prosperity Fund, led by the NSC, to drive forward our aim of promoting global prosperity.

Download or read book DFID in 2009 10 written by Great Britain: Department for International Development and published by The Stationery Office. This book was released on 2010-09-06 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report provides a summary of the recent contribution of the Department for International Development to delivering the Millenium Development Goals. It includes details by country describing progress made and DFID's contribution. It discusses aims for bilateral and multilateral aid and the statistical information on monies spent

Download or read book Accounting for Governments written by Jesse Hughes and published by Independently Published. This book was released on 2019-04-08 with total page 806 pages. Available in PDF, EPUB and Kindle. Book excerpt: Michael Parry and Jesse Hughes have written the only book that comprehensively examines government financial management addressing the conceptual issues, challenges and detailed techniques in countries in every region of the world. "Accounting for Governments: from Budget to Audit" is essential reading for anyone interested in governance and the management of public resources by countries across the world - whether as a politician, official, adviser, practitioner or student.Cem Dener from the World Bank stated "the authors are not only providing a clear and candid view of all important aspects of Government Financial Management (GFM), but also discussing several fundamental issues and the potential impact of disruptive technologies in GFM domain".Citizens have a right to know how their government raises, manages and spends their money - making government accountable. Yet despite modern technology and ever more sophisticated techniques of financial management, achieving effective accountability remains an elusive goal. THE BOOK-comprehensively examines government financial management, from planning and budgeting through the practical implementation of the budget to delivering services, reporting, control and audit-surveys the historical development of government financial management through to modern techniques and the potential disruptive impact of future technology-considers technical approaches in detail and with examples and case studies from around the world -identifies the many challenges to achieving effective government financial management CONTENTS Chapters 1 and 2 - background, legal and institutional frameworkChapter 3 - historical development of government financial managementChapters 4 and 5 - planning and budgetingChapters 6 to 8 - budget execution, accounting and accounting baseChapters 9 and 10 - financial transparency, reporting and International Public Sector Accounting StandardsChapters 11 and 12 - classification and consolidationChapters 13 and 14 - transparency, accountability, control and auditChapter 15 - education, certification, and ethics of accountants and auditorsChapter 16 - managing the modernization of government financial managementChapter 17 - key issues and the future of government financial managementBibliographyTHE AUTHORSDr. Michael Parry (Ph.D., B.Sc. (Econ), FCA, CGMA, ACMA, ATII) principal of PFM Training Ltd and Michael Parry Consulting LLP. Formerly chairman of a major international consulting firm, has provided advice to governments in Europe, Asia, Africa, the Pacific and the Caribbean working for the UN, IMF, World Bank, ADB, DfID and other organisations. Extensive finance and management experience in the public and private sectors in countries across the world.Dr. Jesse Hughes (Ph.D., CPA, CIA, CGFM) Professor Emeritus of Accounting at Old Dominion University, Virginia, USA. Author of numerous articles. Worked in government for 20 years as an auditor, accountant, and comptroller, and in academe for another 20 years. During the past 20 years, worked as a consultant for each of the big four accounting firms, IMF, World Bank and UN on government financial management issues in 22 countries.

Download or read book Ministry of Justice financial management written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2012-03-20 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Ministry has improved its financial management since the Committee's last report in January 2011 (HC 574, ISBN 9780215556042). Many of the Ministry's processes have improved, including modelling and forecasting, but the Ministry has not achieved significant improvements in the delivery of key financial outcomes and therefore has much still to do. The most serious issue is the Ministry's inability to report its financial affairs on a timely and accurate basis. The Ministry's own resource accounts for 2010-11 were delivered late and there were significant problems with the accounts produced by two of its major arm's length bodies, the Legal Services Commission and HM Courts Service's Trust Statement. The Ministry faces significant accounting challenges for the 2011-12 financial year, due to the required earlier publication of the accounts. The Ministry needs to break the cycle of continuing failure to produce accurate and timely accounts. It also faces considerable challenges in meeting its tough spending review commitments, but without a full understanding of its costs, the Ministry risks unnecessarily cutting frontline services, which are critical to the poorest in the community, rather than ensuring savings are achieved through genuine efficiencies. Maximising the income it obtains will help the Ministry and fine collection is improving, but it is being outpaced by the growth in fines outstanding. Excellent financial management is critical to the Ministry's future success as it seeks to achieve significant efficiency gains while coping with workload pressures, such as increases in the prison population, that are largely outside its control.

Download or read book Applied Economics Public Financial Management and Development written by John Short and published by Austin Macauley Publishers. This book was released on 2022-04-29 with total page 149 pages. Available in PDF, EPUB and Kindle. Book excerpt: Applied Economics: Public Financial Management and Development is focused on economics applied to public financial management and development. It charts over 50 years of the author’s practical experience of economics and public policy in 60 countries on five continents, from Afghanistan to Zimbabwe. The book’s main focal point is on central and local government budgeting, tracing the progress of revenue aspects and expenditure allocation over time from inputs alone to matching these inputs to achieving and measuring service delivery in programmes. It also presents the assessment instruments that measure public financial management strength and weakness, with real-life illustrations of their application. All of these instruments use examples from the countries that the author has worked in, demonstrating the conditions faced – mostly stable economic environments, but at times during periods of conflict and insecurity, as well as neighbouring geopolitical tension.These experiences have been gained from the author’s resident assignments and short-term visits (mainly multiple over many years) as a consultant for the IMF, World Bank, and bilateral development programmes as well as academic research.

Download or read book Managing Public Money written by and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Department for International Development written by Great Britain. Parliament. House of Commons. Committee of Public Accounts and published by The Stationery Office. This book was released on 2008 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Budget support is aid provided directly to a partner government's central exchequer, and aims to reduce poverty through helping to fund the poverty reduction strategy of the beneficiary country. DFID's use of budget support has risen to £461 million, representing nearly twenty per cent of bilateral expenditure. Budget support has been designed to improve aid effectiveness by reinforcing developing country policies and systems, and reducing transaction costs. Despite having provided budget support in some countries for many years, however, the Department has not established whether it is in practice cost-effective. DFID's main criterion for providing budget support is that benefits must outweigh the risks, a judgement which is assessed subjectively by country teams. DFID assesses weaknesses in financial systems but rarely estimates the associated risks of corruption or waste of UK funds. DFID's monitoring has basic weaknesses in specifying suitable indicators and tracking progress against objectives. Bodies such as Parliaments, State Audit Offices and civil society organisations can provide effective challenge to governments and ensure that the poor benefit from budget support funding. DFID has not historically paid sufficient attention to strengthening domestic accountability. DFID also has a responsibility to UK stakeholders to demonstrate that funds have been spent effectively.

Download or read book Guidance Manual on Water Supply and Sanitation Programmes written by WELL. and published by WEDC, Loughborough University. This book was released on 1998 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Department for International Development DFID commissioned this Guidance Manual from the WELL Resource Centre to assist staff and partners to develop effective and sustainable water supply and sanitation programmes. It represents collaboration across a range of professions within the Department and from key UK professionals in the sector. It details inter-disciplinary approaches to planning and implementation of partnership-based programmes. The Manual comprises three chapters and appendices. These take the reader from an overview of the sector, through specific development perspectives, to detailed recommendations for each stage of the project cycle. Chapter 1 is an introduction to water supply and sanitation projects and sets the scene. It describes the WS&S sector with particular focus on the development of services for the poor in both urban and rural areas. Emphasis is placed on the importance of co-operation and partnership and the chapter also introduces the DFID programme and project process. Chapter 2 Principles and practice starts with an inter-disciplinary analysis of key issues and then sets out recommended approaches under seven perspectives: social development; health; environmental sustainability; economic and financial perspectives; institutional perspectives; technical aspects; and hygiene promotion and sanitation promotion. These are explored in some detail so that professional staff in DFID and its partners will gain a better understanding of all the aspects and not just their own speciality. Chapter 3 Water supply and sanitation in the DFID programme and project cycle is the 'how to' part of the manual which brings together the disciplinary perspectives at each stage of the project cycle. The key issues to be taken into account are set out in a helpful 'question and recommendation' format. Appendices include examples of logical frameworks for water supply and sanitation projects.

Download or read book DFID s contribution to the Global Fund to Fight AIDS Tuberculosis and Malaria written by Great Britain: Parliament: House of Commons: International Development Committee and published by The Stationery Office. This book was released on 2012-05-22 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Global Fund to Fight AIDS, Tuberculosis and Malaria was created in 2001 to increase funding to tackle three of the world's most devastating diseases. It has approved £14.1 billion for programmes in 150 countries, provided AIDS treatment for 3.3 million people, anti-tuberculosis treatment for 8.6 million people and 230 million insecticide-treated nets for the prevention of malaria. The UK is the Global Fund's third highest donor and Ministers had committed over a year ago to increase funds to it but this money has not yet been delivered nor the amount of the increase confirmed. The Committee is concerned by the delay in delivering funds and is calling for the UK to increase its contribution to the Global Fund significantly - over and above the current £384m pledge for 2012 to 2015 - subject to reform. The Committee says that the G20 meeting in Mexico provides a good opportunity for the UK to announce new funds, but only if conditions are met and UK taxpayers' money is adequately safeguarded. The Global Fund has had a difficult year, with financial problems, corruption scandals and the resignation of its director. Confidence in the Fund was affected with some countries temporarily suspending payments and the Global Fund had to cancel a round of grants totalling some £930m. However, the MPs say that the Global Fund has made good progress under its new management to reform the organisation's structures and financial risk monitoring. In May 2012 the Global Fund announced some £630 million in new funds

Download or read book Governance Development and Democratic Politics written by and published by . This book was released on 2007 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Department for International Development annual report and resource accounts 2010 11 and business plan 2011 15 written by Great Britain: Parliament: House of Commons: International Development Committee and published by The Stationery Office. This book was released on 2012-03-09 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: While DFID's total budget is increasing, the Department will both restrict operating costs to 2% by 2014-15 and reduce its administrative costs by a third in real terms, from £128 million in 2010-11 to £94 million by 2014-15. This report warns that capping operational costs and staff numbers may not reduce overall costs or improve effective delivery of development assistance. The International Development Committee also raises concerns that cost pressures are driving DFID to use consultants to deliver its programmes, rather than in-house expertise. The Department spends £450 million on technical cooperation per year. Much of this is good work, yet it was unclear exactly what this money was spent on, or how effective it was and the extent to which external providers were used. DFID needs to improve its assessment of which projects and services it should use consultants for; and assess more carefully the use of consultants to manage the Department's own delivery programmes. In its efforts to reduce administrative spending DFID might be 'exporting' these costs to other organisations, including NGOs and multilateral aid organisations, with higher real administration costs. The Department should assess the best and most effective way to deliver development assistance as it may be able to do it more cheaply and effectively than external organisations. The report recommends that the Department improves its tracking of and reporting on the total cost of administering its aid programme with the aim of quantifying how much aid actually ends up reaching recipients.