REVENUE PLANNING IN PUBLIC FINANCE
Planning for Revenue in Public Finance Management A key element of good Public Finance Management (PFM) is efficient revenue planning, which guarantees that governments can fulfill their spending commitments while preserving fiscal sustainability. It starts with a thorough analysis of every possible source of public funding, including grants, taxes, fees, and non-tax income like dividends […]
ANNUAL BUDGET PLANNING
Planning and Preparation of the Annual Budget A thorough evaluation of national priorities, macroeconomic forecasts, and income forecasts should be the first step in the annual budgeting process. Budget recommendations by ministries, departments, and agencies (MDAs) must be in line with the Medium-Term Expenditure Framework (MTEF) and the government’s strategic goals. Early communication of clear […]
YOUTH EMPLOYMENT
The term “youth employment” describes young people’s involvement in the workforce, usually between the ages of 15 and 24. It encompasses both full-time and part-time employment, as well as self-employment, apprenticeships, internships, formal employment, and informal employment.Here is a summary of the main elements of youth employment:The Value of Employment for YouthGrowth of the Economy: […]
Development of educational programs or curricula?
To make sure the program satisfies the needs of the students, educational standards, and the objectives of the institution or organization, developing educational programs or curricula requires a systematic approach. Here is a detailed guide explaining the procedure:1. Needs AnalysisDetermine the intended audience: needs, history, age, and degree of education.Identify any gaps or learning needs: […]
MEDIUM TERM EXPENDITURE OF PUBLIC FINANCE
organized way while ensuring that economic policies continue to be viable. MTEFs are crucial instruments in public financial management that help close the gap between budgeting and policy making. They offer a clear foundation for establishing expenditure caps, boosting accountability, and making budgets more predictable. Medium-term frameworks encourage the more effective use of public funds […]
BUDGET PLANNING FOR (PFM)
Planning a Budget in Public Financial Management A key element of public financial management is budget planning, which is a strategic instrument for the efficient and open distribution of public funds. It entails projecting income, establishing spending priorities, and coordinating financial resources with the goals of policy. The procedure guarantees the effective use of public […]
OBJECTIVE PUBLIC FINANCE
purpose of managing public finances Ensuring the effective and efficient use of public resources in order to promote fiscal sustainability, economic stability, and equitable development is the main goal of public finance management, or PFM. This entails allocating government funds, budgeting, and strategic planning in a manner consistent with public policy objectives and national priorities. […]
LEGAL AND INSTITUTIONAL CONTEXT
The laws, rules, procedures, and systems that control the collection, handling, and expenditure of public monies are collectively referred to as public financial management, or PFM. Constitutional clauses, public finance acts, procurement regulations, budgeting legislation, and audit requirements are commonly included in PFM’s legal framework. These rules guarantee that public institutions’ financial operations are accountable, […]
PURPOSE OF PUBLIC FINANCIAL MANAGEMENT
PURPOSE OF PUBLIC FINANCIAL MANAGEMENT GOAL The vital function of public financial management (PFM) is to guarantee that public resources are organized, distributed, and utilized effectively and openly in order to accomplish national development objectives. It includes systems for accounting, auditing, tax collection, spending management, and budgeting that facilitate the efficient provision of public services. […]
INTRODUCTION OF PUBLIC FINANCIAL MANAGEMENT
Overview of Public Financial Management The term “public financial management” (PFM) describes the procedures, guidelines, and organizations that governments and other public sector organizations employ to manage public funds. In order to guarantee that public monies are raised and spent in a way that is open, accountable, and consistent with policy aims, it covers the […]