Posted by AndyWynne
The latest issue of the InternationalJournal of Governmental Financial Management was recently published and isnow available for free download.
We begin this issue of our Journal with an examination of key publicfinancial management (PFM) reform measures undertaken in India in the recent past andsuggestions to enhance the effectiveness of the PFM systems involved involved.In recent years the role of sound PFM systems in achieving the objectives offiscal discipline, strategic planning and improved service delivery has beenreceiving increased public attention in India. PFM reforms undertaken intermittently over the years have, however, not deliveredthe anticipated results in these areas. Studies and recommendations of government appointed committees andexpert bodies have identified gaps that need attention to strengthen theinstitutional framework and to improve the efficiency of government spending.
The second paper is also from India, but has a narrower focus on theauthorisation of capital projects in local governments. Different reports and availabledata show that the expenditure and budgetary control systems in Indian urbanlocal bodies is generally poor and needs strengthening. The accountsdepartment, which prepares the budget, should have access to the relevant dataat an early stage and the authors propose that financial concurrence (or earlycommitment approval) should be required from the accounts department for eachproposal that may result in expenditure on capital works.
In the third paper of this issue of the Journal we turn to the legalbasis for PFM in Kenya. The paper examines the provisions of the new Constitution and theorganic budget law and their adequacy in enforcing good practice requirementsfor participation and transparency in public sector budgetary processes. Itcontextualizes the state of budget transparency by evaluating existingparticipatory mechanisms and the extent to which they are entrenched in law.Drawing from international best practices, it is concluded that there is littleprospect that the promise of the Constitution to provide the opportunity forcitizen participation in budgetary processes will be fully realised throughlegislation. The organic Budget Law fails to mandate the State to disclose corebudget documents and guarantee free access to relevant and useful budgetinformation.
The final main paper of this issue looks at the adequacy of funding oftertiary institutions in Nigeria. This study evaluated the financial managementsystems of selected tertiary institutions in Oyo State, Nigeria.The availabledata led to the conclusion that education in general in Nigeria, and tertiaryeducation in particular, is inadequately funded. However, tertiary institutions are alsoinefficiently managed and this inefficiency may be made worse by fraudulentpractices.
We again include a section reviewing recent PFM publications and other resources which we hope will be of interest.
The ICGFM has fairly recently established a Technical Committee and wehave included in this issue the comments the Committee has issued to the IPSASBoard on their exposure drafts. If youwould like to know more about the work of our Committee, please contact theChair, Jesse Hughes at jhughes@odu.edu.
Finally, this is the last issue of our Journal to be edited by me, AndyWynne. Our next issue will have a neweditor and will mark an important step forward in the development of theJournal.
Note: The posts on the IMF PFM Blog should not be reported as representing the views of the IMF. The views expressed are those of the authors and do not necessarily represent those of the IMF or IMF policy.
