This short course for middle and senior managers in the public sector aims to create an awareness and understanding of the Public Finance Management. It will assist delegates to understand the basic concepts and principles necessary for sound financial management; to comply with the Treasury Regulations; to apply the performance requirements for financial management; and to apply the principles of effective reporting.
Virtually every level of government faces unprecedented pressure for improved accountability while striving to provide high levels of service at low cost. This growing challenge requires a keen understanding of complex financial mechanisms, management and leadership theories and practices, and the ability of government to work with the private and nonprofit sectors.
- Understand the basic concepts and principles necessary for sound financial management;
- Comply with the requirements of the Public Financial Management Act;
- Comply with the Treasury Regulations;
- Apply the principals of financial management approach to managing for results;
- Apply the performance requirements for financial management; and
- Apply the principles of effective reporting.
Governance and Development
- This module looks at the political and technical issues and role players involved in public financial management. Delegates examine accountability and governance in the structure of government, and the principles and practices of intergovernmental fiscal relations, including revenue assignments, expenditure responsibilities, and intergovernmental transfers. It introduces the accountability cycle, and the mandates, functions, roles and responsibilities that apply in the area of public finance.
Revenue and Funding
- The revenue module acquaints delegates with public sector revenue sources, including principles of taxation, public sector borrowing, systems of intergovernmental transfers and revenue administration.
Strategy, Plan and Budget
- This module introduces participants to government sector budgeting with an emphasis on developing service strategies, plans and budgets. The module looks at the budget cycle, ensuring that the budget reflects the strategy and plan, preparing and defending budget submissions, managing budget tensions and reconciling plans to final budget allocations.
- This module looks at the management of public sector expenditures, including programme and project financial management, cost centre management, and accountability and the delegation of financial responsibilities. Specific topics include supply chain management, managing the compensation of employees, capital expenditure management and cash and debt management.
Reporting and Accounting
- This module looks at the reporting cycles, their purposes, and their processes and contexts. It includes management reporting, reporting to governance and political committees, and annual and public reporting, as well as the discourses and meanings of public financial accountability, closing the books, engaging with the auditor and the audit committee. This module also looks at risk management and risk management reporting systems.
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- 1-2 Weeks Classes