Best Performance Practices in Public Financial Management

TBD


What is this about?

Public Financial Management denotes good governance. This is implemented by making sure that (internal and external) stakeholders, that is the public, understand that resources are well taken care off.

Public Financial Management will make you understand and control how well the government Budgets for and uses financial resources.

To achieve this prudently the right information must be provided at the right time to the right people. That’s where we come in!

This Public Financial Management Program will assist you to develop a personal understanding of PFM and its role in development.

Who should attend?

This Public Financial Management Course is Designed For Staff from:

  • Public Utility organizations
  • Local Governments
  • Parastatals
  • Government Ministries
  • Government Commissions

Who are:

  • Internal Audit Managers/Directors
  • Risk and Compliance Managers/Directors
  • Financial Directors
  • Financial Advisors
  • Auditors
  • Chief Financial Officers
  • Chief Accountants
  • Management Accountants
  • Heads of Budgeting
  • Budgeting Personnel
  • Planning Professionals
  • Finance Managers
  • Others interested in understanding Public Financial Management
This 4-day course will develop competencies in financial management providing the knowledge and practical application skills to enable you to:
  • Integrate the strategic planning with budgets and processes of cost control, Identify the budgeting/financial skills required for better decision-making to Understand and analyze financial activity reports
  • Identify sources of financial and business data that provide insights into business and financial strategies when converted to budgets
  • Explore traditional versus innovative budgetary techniques Interpret budget variances and devise appropriate strategies to respond to them
  • Explore traditional versus innovative cost analysis techniques
  • Get to know activity-based budgeting (and costing) Explore capital budgeting techniques Plan, set and manage a budget
  • Question the problems and limitations of budgets control and look for alternative tools
  • Understand the importance of balancing financial and non-financial aspects to Explore key financial controls
  • Improve the value for money for delivery to the stakeholders delivered by your service
  • Understand the key functions of Public Financial Management;
  • Acquire a conceptual basis for looking at and assessing PFM systems;
  • Understand role and importance of PFM in the development process.

Objectives

  • Successfully build an integrated planning, budgeting to manage the Public finances Prudently
  • Understand costs behaviour and revenues more accurately
  • Deliver more timely and useful information to decision makers
  • Ensure that processes used allocate budgeting prudently
  • Link benchmarking and Budgeting processes together in your organization
  • Know what is benchmarking? Why do we need to do it?
  • Understand difference between Public VS Private Financial Management
  • Enhance cost awareness & performance analysis
  • Differences between a Plan, Budget and Forecasting
  • Describe specific cost analysis and performance measurement techniques
  • Explore the financial controls set and why are they set as they are?
    • Personal Impact
    • You will Integrate strategy, budgeting and cost control
    • Permits testing of financial impact of strategic direction
    • Managing different types of cost and their relevance to decision making
    • Master techniques for cost benefit analysis
    • Understand the problems of overheads and how Activity Based budgeting may aid decision-making and pricing strategies
    • Select the costing measurement system that works
    • Select the systems of performance measurement that works
    • Discuss real case studies
    • From cost to strategy to performance measurement
    • Looking beyond budgeting
    Dr. Kiema Mwandia
    Dr. Kiema Mwandia

    A highly self-motivated, result oriented and hardworking Public Sector Management professional with over 20 years of ‚hands-on‛, eye-on‛ expertise majorly gained from working with government ministries, semi-autonomous government agencies, donor agencies, NGO’s and private companies within the East and Central Africa region.

    Professionally, I possess strong presentation, written communications and negotiation skills (both English and Kiswahili) which enable me to proactively incorporate the reality of managing opportunities in different contexts. In addition, I have excellent analytical skills combined with strong grasps and hands-on experience particularly in area of Regional trade facilitation, trade expansion and investment, regional integration, policy analysis, design and management of social enterprises, training of trainers, risk analysis and risk management.

    Day 1; Opening and Welcome
    Public Financial Management and its relationship with the Budget-Introduction to Financial Management that is Effective Introduction to PFM and the key concepts: Financial concepts
    • The annual financial cycle of activities
    • Sources of funding for the public sector
    • Financial regulations and financial processes
    • How transactions get reflected in financial management reports
    • The connection between cash, revenue expenditure and assets
    • Revenue expenditure vs. capital
    • Understanding and interpreting financial management reports
    • What is the Budget Cycle and an Exercise
    • Macroeconomics and the Budget and a case study/exercise from the participant
    Day 2; Budget preparation and execution
    • The Budget, budget preparation and Medium-Term Expenditure Framework and Exercise: Budget management
    • The role of budget management within the financial control framework
    • Connecting strategic planning with annual budgeting
    • The annual budget cycle
    • Budget setting, incremental vs. zero based budgets
    • Features of a successful business case
    • Identifying revenue and cost drivers for budget setting and management
    • Analyzing in year budget reports and identifying variances
    • Developing tactics to respond to budget variances
    • Forecasting budget outturn
    • Budget planning & performance and Different Case Studies from Different Countries
    • Budget Implementation
    • Internal control: Financial risks and controls
    • Identifying operational risks and their financial consequences
    • Risk and control frameworks used by the public sector
    • The role of service managers in creating a strong control environment
    • Specific control types and their uses
    • Typical controls found in financial processes persons responsibilities over their operation
    • Learning from real world issues in the application of financial controls
    Day 3; Budget Implementation and Execution; Treasury management and a simulation exercise on Treasury Single Account
    Master Salary and Payroll, Procurement Implementation and importance of IT
    • Revenue and Administration; Achieving value for money
    • Economy, efficiency and effectiveness
    • Delivering services in a way which gives value for money to tax payers
    • Prioritization of services
    • The role of benchmarking
    • Measuring value for money
    • Accounting & Reporting
    • Codes & Classification of Expenses
    • Accounting, recording, reporting and Exercise
    • Auditing & External Scrutiny from Auditors and Public at large; The Link with Budget support, be it Donor or Internal Support
    • Internal Audit
    • External Audit and Oversight
    • Diagnostic tools
    • Introduction to Public Financial Management reforms
    Day 4; Conclusion
    The final day concludes in synthesis of what we learned over the last 4 days. It is a vital session to analyze what we learned and what can be adopted to fit the participant’s organization
    • Conclusion of Program
    • Synthesis of what we have learned
    • Tying up the loose ends – what will work/not work
    • Final case analysis AND Recap
    • Certificates of participation and a photo session will be held to commemorate the wonderful experience of learning, interacting and networking.