Managing Budgetary Virements PDF Download

Author: Mr.Sandeep Saxena
Publisher: International Monetary Fund
ISBN: 148433535X
Category : Business & Economics
Languages : en
Pages : 24

View

Book Description
Virements are useful instruments of budget flexibility. If carried out transparently and within accepted limits, virements can promote expenditure efficiency. Large, unregulated virements can undermine budget credibility and the budget’s relevance as principal policy and financial planning instrument. This note defines virements, clarifies their purpose, and specifies what general and country-specific considerations should guide the design of a virement framework. The note argues that countries should design virement policies maintaining balance between their budget flexibility and accountability needs, and keeping in view the legal-cultural environment and the state of development of their public financial management.

Author: Sailendra Pattanayak
Publisher: International Monetary Fund
ISBN: 1475510217
Category : Business & Economics
Languages : en
Pages : 27

View

Book Description
This technical note and manual (TNM) addresses the following main issues: • Discusses the purpose of a chart of accounts and its importance in public financial management • Discusses stakeholder needs in a typical public financial management framework that need to be reflected in a chart of accounts • Discusses the role of chart of accounts in budgetary and financial accounting • Discusses the relation between the chart of accounts and IFMIS • Explains key steps for identifying data requirements and structures for developing a chart of accounts

Author: Gary Bandy
Publisher: Routledge
ISBN: 1351128280
Category : Business & Economics
Languages : en
Pages : 268

View

Book Description
Running public sector organizations requires specialist accounting and finance skills to overcome the unique challenges of the sector. Citizens rely on their governments to provide a wide range of public services from an inevitably limited budget and therefore the better that the public money is managed the more services that can be delivered. Just as there is no single best way to manage a business there is no single best way to manage public finances. Co-published by the Chartered Institute of Public Finance and Accountancy (CIPFA), the world's leading professional public finance accountancy body, International Public Financial Management: Essentials of Public Sector Accounting provides an expert introduction to public sector accounting and finance. This book was conceived to accompany CIPFA’s International Public Financial Management (IPFM) qualifications as a resource for students that seeks to capture the essential elements of the modules they study, and reflects good practice as put forward by CIPFA in its examination syllabuses. Students of public management and public sector accounting will find this a useful text. Practitioners working in the public sector will also find this concise book vital reading in seeking value for money in providing public services.

Author: OECD
Publisher: OECD Publishing
ISBN: 9264801197
Category :
Languages : en
Pages : 135

View

Book Description
Governments are facing significant climate-related risks from the expected increase in frequency and intensity of cyclones, floods, fires, and other climate-related extreme events. The report Building Financial Resilience to Climate Impacts: A Framework for Governments to Manage the Risks of Losses and Damages provides a strategic framework to help governments, particularly those in emerging market and developing economies, strengthen their capacity to manage the financial implications of climate-related risks.

Author: Richard Allen
Publisher: Springer
ISBN: 113731530X
Category : Business & Economics
Languages : en
Pages : 881

View

Book Description
The Handbook is a virtual encyclopedia of public financial management, written by topmost experts, many with a background in the IMF and World Bank. It provides the first comprehensive guide to the subject that has been published in more than ten years. The book is aimed at a broad audience of academics/students, government officials, development agencies and practitioners. It covers both bread-and-butter topics such as the macroeconomic and legal framework for budgeting, budget preparation and execution, procurement, accounting, reporting, audit and oversight, as well as specialist subjects such as government payroll systems, local government finance, fiscal transparency, the management of fiscal risks, sovereign wealth funds, the management of state-owned enterprises, and political economy aspects of budgeting. The book sets out numerous examples and case studies describing good practice in public financial management, and is highly relevant for use in both advanced and developing countries.

Author: Sailendra Pattanayak
Publisher: International Monetary Fund
ISBN: 1475567073
Category : Business & Economics
Languages : en
Pages : 32

View

Book Description
This paper defines and explains key stages of the government expenditure chain and describes the controls applied at each stage, including their objectives and key features as well as centralized vs. decentralized approaches in application of those controls. The paper also examines the influence of different administrative traditions on types of expenditure controls, including the authority and responsibility of various institutional actors. Finally, it discusses typical weaknesses/problems associated with different traditions of expenditure control and suggests specific measures for strengthening the control framework. While providing examples of expenditure control practices from more than 32 countries, the paper points out that more than two-thirds of the 85 low and middle income countries covered by the publicly available Public Expenditure and Financial Accountability (PEFA) assessments have weak systems of expenditure control that are also associated with higher levels of expenditure arrears and a lack of budget credibility. This paper will help public financial management practitioners to evaluate budget execution systems and identify priorities for strengthening expenditure controls. It will also usefully guide technical assistance work related to modernization of government budget execution and expenditure control systems, including the design and implementation of IT-based financial management information systems.

Author: Mr.Jack Diamond
Publisher: International Monetary Fund
ISBN: 9781557757876
Category : Business & Economics
Languages : en
Pages : 84

View

Book Description
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.

Author: Mr.Serhan Cevik
Publisher: International Monetary Fund
ISBN: 1484359453
Category : Nature
Languages : en
Pages : 18

View

Book Description
This how-to note focuses on the management of the fiscal costs associated with natural disaster risks. Unlike other types of fiscal risks (for example, unexpected macroeconomic changes or materialization of contingent liabilities), a natural disaster presents a unique challenge to fiscal risk-management and budget processes because of its exogenous nature and potentially overwhelming scale. This note discusses how governments can build fiscal resilience against natural hazards and strengthen fiscal management after a disaster, including through budgeting frameworks and other fiscal policies. The note aims to answer three central questions: How large should fiscal buffers be? How should fiscal buffers be built up? How should fiscal buffers be used efficiently and transparently once a natural disaster has struck? These three questions directly relate to fiscal policy, fiscal risk management, and the budget process—all core areas of IMF expertise. To address them, the note focuses on fiscal strategies for financing recovery efforts and considers approaches to mitigate disaster impact. The note also provides guidance on how to conduct regular risk analyses of natural disasters’ potential fiscal consequences and outlines best practices for defining and accounting for the contingent liabilities associated with natural disasters in budgeting frameworks. Finally, the note touches on approaches for risk reduction, disaster risk financing strategies, and risk transfer mechanisms, such as various insurance instruments.

Author: Jennifer Bean
Publisher: HB Publications
ISBN: 1899448497
Category : Business & Economics
Languages : en
Pages : 117

View

Book Description
Managing and being responsible for public funds is one of the most important tasks of a public sector manager, particularly in the current environment where budgets are constrained and in many cases reducing. This is an area of skill and knowledge that cannot be taken for granted, as many public sector managers will have had no formal training in this area. It is an ideal practical text to assist managers become more effective and efficient in the way in which they undertake budget management. The outcome being improved value for money services which benefit the whole community. This book is one of a series of books entitled Essential Skills for the Public Sector. Its target readership is any person in the public sector who manages a budget. It covers the process of devolvement; preparing budgets, controlling and monitoring budgets, understanding financial information, and the link between management and financial responsibility

Author: International Monetary Fund. Communications Department
Publisher: International Monetary Fund
ISBN: 1513507303
Category :
Languages : en
Pages : 37

View

Book Description
This paper provides policymakers, academics, and the public with valuable information about policies and institutions in China today, the road ahead, and key principles that can help in navigating it. The paper focuses on crucial issues in the country’s transformation, such as tax policy and administration, social security, state-owned enterprise reform, medium-term expenditure frameworks, the role of local government finances, Renminbi internationalization, and macroeconomic statistics. Women make up a little over half of the world’s population, but their contribution to measured economic activity and growth is far below its potential. Despite significant progress in recent decades, labor markets across the world remain divided along gender lines, and progress toward gender equality seems to have stalled. Women’s economic empowerment is critical for the overall economy. As research conducted both inside and outside the IMF shows, empowering women can boost economic growth, reduce income inequality, support export diversification, and strengthen corporate performance.