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May 10, 2013

Latest Issue of International Journal of Governmental Financial Management Published

Posted by Andy Wynne

The latest issue of the International Journal of Governmental Financial Management was recently published and is now available for free download

We begin this issue of our Journal with an examination of key public financial management (PFM) reform measures undertaken in India in the recent past and suggestions to enhance the effectiveness of the PFM systems involved involved. In recent years the role of sound PFM systems in achieving the objectives of fiscal discipline, strategic planning and improved service delivery has been receiving increased public attention in India. PFM reforms undertaken intermittently over the years have, however, not delivered the anticipated results in these areas. Studies and recommendations of government appointed committees and expert bodies have identified gaps that need attention to strengthen the institutional framework and to improve the efficiency of government spending.

The second paper is also from India, but has a narrower focus on the authorisation of capital projects in local governments. Different reports and available data show that the expenditure and budgetary control systems in Indian urban local bodies is generally poor and needs strengthening. The accounts department, which prepares the budget, should have access to the relevant data at an early stage and the authors propose that financial concurrence (or early commitment approval) should be required from the accounts department for each proposal that may result in expenditure on capital works.

In the third paper of this issue of the Journal we turn to the legal basis for PFM in Kenya. The paper examines the provisions of the new Constitution and the organic budget law and their adequacy in enforcing good practice requirements for participation and transparency in public sector budgetary processes. It contextualizes the state of budget transparency by evaluating existing participatory mechanisms and the extent to which they are entrenched in law. Drawing from international best practices, it is concluded that there is little prospect that the promise of the Constitution to provide the opportunity for citizen participation in budgetary processes will be fully realised through legislation. The organic Budget Law fails to mandate the State to disclose core budget documents and guarantee free access to relevant and useful budget information.

The final main paper of this issue looks at the adequacy of funding of tertiary institutions in Nigeria. This study evaluated the financial management systems of selected tertiary institutions in Oyo State, Nigeria.The available data led to the conclusion that education in general in Nigeria, and tertiary education in particular, is inadequately funded. However, tertiary institutions are also inefficiently managed and this inefficiency may be made worse by fraudulent practices.

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 we have included in this issue the comments the Committee has issued to the IPSAS Board on their exposure drafts.  If you would like to know more about the work of our Committee, please contact the Chair, Jesse Hughes at jhughes@odu.edu.

Finally, this is the last issue of our Journal to be edited by me, Andy Wynne. Our next issue will have a new editor and will mark an important step forward in the development of the Journal.

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. 


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