Download or read book Managing Financial Resources to Deliver Better Public Services 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 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Annually, central government spends some £558 billion, and this is forecast to increase to £678 billion by 2010-11. Strong and competent financial resources management is central to departments meeting their objectives cost effectively and delivering public services which represent value for money. Since the Committee's last report on this topic (HC 181, 25th report of session 2003-04, ISBN 9780215023636) the number of qualified finance directors with a seat on the departmental board has increased, enhancing the focus on financial performance at senior management level, but the lack of financial skills and awareness amongst non-finance staff remains a barrier to improving financial management more generally across government. Accruals-based accounting and budgeting systems are helping some departments identify under-utilised assets and dispose of those no longer required. Departments need to improve their forecasting capabilities to strengthen budgetary control and to avoid underspends not being identified early enough to reallocate resources to other priorities. Departments are continuing to spend less money than they forecast, particularly on capital projects, increasing the risk that resources are not being allocated across government in the most effective way. Few departmental boards are presented with accurate, timely and integrated financial and operational performance information to enable them to take sufficiently informed decisions on the use of resources and to review performance. Although the Treasury and Cabinet Office have a number of initiative to improve resource management, there is some way to go before financial management is fully embedded within departmental cultures.

Download or read book Managing financial resources to deliver public services written by Great Britain: National Audit Office and published by The Stationery Office. This book was released on 2008-02-20 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report examines the management of financial resources to deliver better public services effectively. Divided into four parts, with appendices, it looks at the following areas: Part 1: The importance of managing financial resources; Part 2: Developing the skills and awareness necessary for effective financial resource management; Part 3: Improving departments' use of techniques and practices for managing financial resources; Part 4: The impact of improved management and financial resources. Financial rsource management is relevant to every aspect of a Government department's business. By 2010-11, central government spending is forecast to grow to £678 billion, which represents £11,000 for every person in the UK. The NAO has set out a number of findings and recommendations, including: that the lack of financial skills and awareness amongst non-finance staff remains a significant barrier to improving the management of financial resources across government; that some departments lack a qualified Finance Director at Board level; that senior managers in many departments are not provided with incentives to promote sound management of financial resources; that Departments could do more to improve their forecasting capabilities; that some Departments are not sufficiently well placed to integrate financial and operational performance information; that many Departments do not always ensure the full assessment of the financial implications of policy proposals.

Download or read book Financial Planning and Management in Public Organizations written by Alan W. Steiss and published by CRC Press. This book was released on 2001-08-17 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work focuses on the theory and practice of financial management in public organizations and local government, highlighting the planning, analysis, and control skills necessary to navigate a future of change in technology, society, politics and economics. It details three fundamental areas of responsibility in the annual financial management cycle - cash management, financial planning, and management control. The authors discuss the financial planning-control continuum, cash management and investment strategies, and techniques of financial and managerial cost accounting to assist financial managers and public administrators in their daily efforts to promote more efficient and effective use of financial resources.

Download or read book Financial Policies written by Shayne Kavanagh and published by Gfoa. This book was released on 2004 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Public Financial Management and Its Emerging Architecture written by Mr. M. Cangiano and published by International Monetary Fund. This book was released on 2013-04-05 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first two decades of the twenty-first century have witnessed an influx of innovations and reforms in public financial management. The current wave of reforms is markedly different from those in the past, owing to the sheer number of innovations, their widespread adoption, and the sense that they add up to a fundamental change in the way governments manage public money. This book takes stock of the most important innovations that have emerged over the past two decades, including fiscal responsibility legislation, fiscal rules, medium-term budget frameworks, fiscal councils, fiscal risk management techniques, performance budgeting, and accrual reporting and accounting. Not merely a handbook or manual describing practices in the field, the volume instead poses critical questions about innovations; the issues and challenges that have appeared along the way, including those associated with the global economic crisis; and how the ground can be prepared for the next generation of public financial management reforms. Watch Video of Book Launch

Download or read book Value Based Management in Government written by Douglas W. Webster and published by John Wiley & Sons. This book was released on 2020-01-22 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides step-by-step guidance on implementing and using a value-based management system within the government Countless books on proposed management practices have been written and published over the past century. Some of these have focused on specific management practices for government. In more recent decades, the topics of strategic planning, performance management, cost management and risk management have been extensively covered. However, little has been offered as an approach to integrate these and numerous other management methods and practices in a manner that maximizes the delivery of value to the organization’s key stakeholders. A general management framework is presented in this book in a manner particularly applicable to government organizations. Value-Based Management in Government introduces a new, integrating framework for management practices that optimizes the balancing of results sought; resources supplied and allocated; and risks accepted. These considerations are all balanced for the purpose of delivering maximum stakeholder value. The book offers guidance on how strategic planning, performance management, cost/resource management, and risk management must all be integrated as part of a portfolio management framework across the organization. The book also discusses the role of information technology (IT) in providing data for insights and decision-making, and the importance of organizational change management to implement the needed organizational and behavioral changes. Beginning by explaining the concept of Value-Based Management for the public sector and government, the text goes on to explore topics such as the evolutionary stages of maturity of management accounting, the benefit of attributes (e.g., value-add versus nonvalue-add) in cost data, predictive planning with expense projections, risk management, and various performance measurements (e.g., key performance indicators [KPIs] ). This authoritative book: Discusses a framework for balancing and integrating cost, performance, and risk Explains IT systems integration issues related to activity-based cost management (ABC/M) Addresses why some ABC/M implementation projects fail to meet expectations Describes how quality management efforts can be measured in financial terms Explores the wider uses of predictive accounting (e.g., driver-based budgeting, what-if scenario analysis) Provides organizational change management insights and recommendations needed to achieve the required changes in management decision-making. Value-Based Management in Government is an important source of information for leaders, executives, managers, and employee teams working within or with government organizations.

Download or read book Good government written by Great Britain: Parliament: House of Commons: Public Administration Select Committee and published by The Stationery Office. This book was released on 2009-06-18 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Incorporating HC 983-i-iv, session 2007-08

Download or read book Transformation in Action written by Iraj Abedian and published by Juta and Company Ltd. This book was released on 1998 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: The health services in South Africa have undergone a major reorientation in an attempt to provide the poorest and most vulnerable segments of society with increased access to affordable, quality health care. Unfortunately, the new policies and health plans have not translated into a commensurate improvement of actual health service delivery and health status. A key missing element has been the lack of an appropriate financial planning and budgeting system. This book, Transformation in Action, attempts to fill the void that exists between planning, budgeting and implementation in the public health sector. Drawing on local and international research and policy experiments, it outlines an alternative system called the Performance Budgeting System (PBS). Unlike the current budgeting system, the PBS system integrates financial planning and management with strategic, operational, performance and quality management objectives to ensure that, within budget constraints, service delivery outputs have the greatest possible impact on health outcomes. In so doing, this system can contribute substantially to achieving the objectives of recent public sector reform initiatives and the ideals of the Constitution.

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 Financial Management and Accounting in the Public Sector written by Gary Bandy and published by Taylor & Francis. This book was released on 2023-03-14 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: The importance of public financial management for the health and wellbeing of citizens became dramatically apparent as governments sought to respond to the coronavirus pandemic in 2020. Now, governments and other public sector organizations face the challenge of recovering from the pandemic whilst also seeking to achieve Sustainable Development Goals, with squeezed budgets and ever-increasing demands for public services. Public sector managers are confronted daily with targets and demands that are often set in confusing accounting and financial language. In Financial Management and Accounting in the Public Sector, Gary Bandy employs a clear and concise narrative to introduce the core concepts of public financial management to help those managers to deliver programmes, projects and services that are value for money. As the author puts it, managing public money is an art, not a science. This third edition has been revised and updated throughout, offering: a structure that is more clearly linked to the stages of the public financial management cycle greater coverage of transparency and accountability issues a broader view of public procurement to include goods, works and services and effective contract management; and an increased focus on public spending in the context of a post-COVID environment. With a glossary of terms to help managers understand and be understood by accountants, as well as learning objectives, discussion questions and exercises, this practical textbook will help students of public management and administration to understand the financial and accounting aspects of managing public services.

Download or read book Transforming Government and Public Services written by Mr Stephen Jenner and published by Gower Publishing, Ltd.. This book was released on 2012-09-28 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'This book distills the learning from practical experience and academic research…and represents a significant contribution to the challenges we face in transforming government and public services in an environment of ever-tighter finances' — John Suffolk, UK Government Chief Information Officer Major public sector IT-enabled business change programmes are designed to realize benefits in terms of more efficient services, services tailored to the need of citizens, and improved outcomes, but in practice such benefits often fail to materialize or we are unable to demonstrate their delivery - Transforming Government and Public Services provides proven tools, techniques and processes to reverse this trend. Stephen Jenner explores a number of key themes that are fundamental to an approach to project portfolio management built on value. He explains how to: develop a business case to achieve a desired intent rather than justify a particular solution; create project documentation that is both technically rigorous and gives users a clear understanding of where you are going; treat projects as investments rather than costs; include stage gates with teeth that are closely linked to real performance; plan for success rather than holding people to account for failure; use a single version of the truth principle so there are no arguments about different data. In a complex, confusing and often highly politicized environment, Stephen Jenner's Transforming Government and Public Services provides a clear, definitive and highly applied guide for all involved in selecting the right projects and doing them right so that they achieve the intended investment objectives.

Download or read book Progress in improving financial management in Government written by Great Britain: National Audit Office and published by The Stationery Office. This book was released on 2011-03-03 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite good progress in improving the professional capability and capacity of government finance departments since the National Audit Office last reported in 2008, good financial management is still not embedded in the civil service culture, and financial matters do not have sufficient influence over departments' strategic decision making. The NAO concludes that departments have achieved a core level of competence in financial management, but further improvement in financial management capacity and capability throughout their organisations is required to enable them to meet the challenge of delivering the savings set out in the Spending Review 2010. There has been important progress - all departments now have a professionally qualified Finance Director, supported by an increased number of qualified finance staff. The Treasury is also implementing accounting changes to bring greater transparency to government financial reporting. Whitehall's central finance functions competently capture and report the transactions and financial position of the departments. Annual accounts are delivered before the July Parliamentary recess. The number of overall overspends against the amounts approved by Parliament is low. However, departments are generally weak at monitoring their balance sheets and at forecasting cash flow in the medium term. Departments do not fully understand the costs of their activities, and it is rare for them to have good information on the unit costs of outputs, levels of productivity or the value of outcomes. Departments generally focus on monitoring against the agreed one-year budget, with a few looking as far ahead as the current spending review period of four years.

Download or read book Guidelines for Public Expenditure Management written by Mr.Jack Diamond and published by International Monetary Fund. This book was released on 1999-07-01 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditionally, economics training in public finances has focused more on tax than public expenditure issues, and within expenditure, more on policy considerations than the more mundane matters of public expenditure management. For many years, the IMF's Public Expenditure Management Division has answered specific questions raised by fiscal economists on such missions. Based on this experience, these guidelines arose from the need to provide a general overview of the principles and practices observed in three key aspects of public expenditure management: budget preparation, budget execution, and cash planning. For each aspect of public expenditure management, the guidelines identify separately the differing practices in four groups of countries - the francophone systems, the Commonwealth systems, Latin America, and those in the transition economies. Edited by Barry H. Potter and Jack Diamond, this publication is intended for a general fiscal, or a general budget, advisor interested in the macroeconomic dimension of public expenditure management.

Download or read book Managing Local Governments written by Emanuele Padovani and published by Routledge. This book was released on 2013-06-17 with total page 359 pages. Available in PDF, EPUB and Kindle. Book excerpt: Local Government is an area where management skills are tested to the extreme. With political considerations evident both locally and nationally, managing resources can be complex and subject to change. This book introduces new concepts and new ways of doing business that can greatly enhance the value of the services a local government provides to its citizens, without putting a greater financial burden on taxpayers. Padovani and Young present out-of-the-box thinking based on solid research and experience to discuss topics such as: Incorporating outcome indicators into strategic planning and budgeting Building a LG’s budget with ‘cost drivers’ Expanding the concept of ‘enterprise funds’ Assessing and better managing the risk associated with outsourcing Using the concept of ‘shadow pricing’ to compare public with private sector costs for services This book is a must-read for students of public administration and management, senior and middle managers in local governments around the world, and citizens who are concerned with more effective management of their local government’s programs and services. A list of suggested extra case studies for each chapter, and a description of the process to follow for ordering them, may be obtained by sending an email to [email protected]. You should request the document "Case Study Suggestions for Managing Local Governments".

Download or read book Managing Financial Resources written by Mick Broadbent and published by Routledge. This book was released on 2012-05-04 with total page 441 pages. Available in PDF, EPUB and Kindle. Book excerpt: Managing Financial Resources addresses the complicated issues of financial planning and control. These include performance measures and cost analysis, methods of improving profitability and techniques of financial monitoring and control. Real examples and case studies are used throughout to illustrate points in a practical context. All chapters have been updated and new material has been added to extend the original text in areas such as public sector management issues, audit commission, capital investment decisions, stakeholder analysis for published reports and accounts, performance measurement, outsourcing, new developments in the public sector and transfer pricing. This book is based on the Management Charter Initiative's Occupational Standards for Management NVQs and SVQs at level 4. It is particularly suitable for managers on the Diploma in Management or part 1 of the Postgraduate Diploma, especially those accredited by the Chartered Management Institute and Edexcel but this also a useful text for practicing managers and those individuals studying for a MBA.

Download or read book Financial Management in the Department for Children Schools and Families written by Great Britain. National Audit Office and published by The Stationery Office. This book was released on 2009 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Department for Children, Schools and Families has made progress in improving its financial management, with strong commitment at senior management and board level. The Department's ability to reach a high standard of financial management depends partly on successful working with local authorities, other partner organisations, and the schools themselves. It does, however, face specific challenges, including the need for better strategic management of its large capital programme, and to encourage better financial management in schools. The Department has built up a large capital underspend, which increased from £1.9 billion at 31 March 2008 to around £2.4 billion at the end of March 2009. Its capital expenditure programme will need to be carefully managed given the history of underspending and the challenge of bringing forward £924 million of expenditure from 2010-11 to 2009-10 as part of the Government's fiscal stimulus. At March 2008, schools in England had a net cumulative surplus of £1.9 billion. Only 1 in 5 local authorities reduced their total net school surplus in 2007-08. Local authorities are accountable for school spending and the Department should encourage them to redistribute excessive uncommitted surpluses in line with local needs. The Department was, in 2007, one of three departments which had not implemented in-year accruals accounting systems, which would help to improve the accuracy of financial forecasting and reporting. The planned introduction of a shared services arrangement for finance with procurement and personnel support should also help improve financial management and lead to efficiencies.

Download or read book Management Accounting in Public Service Decision Making written by Malcolm J. Prowle and published by Routledge. This book was released on 2020-12-28 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: Radical changes to public service delivery have swept across many regions of the world. Management accounting methods are vital to support operational and strategic decision making in public services internationally. This book provides a comprehensive and “leading-edge” guide to the topic. Written by an expert scholar with practical experience of public service delivery, the book takes account of key trends such as increased demand for public services, financial austerity, technological change and enhanced performance management. A globally relevant book, informed by cutting edge academic research and benefitting from integrated case studies, this is essential reading for both students and practitioners involved with the financial aspects of public services management.