Finance Control Mechanism, Budget Monitoring and Implementation

Description

Introduction

Comprehensive and timely monitoring of budget transactions could be ensured with adequate information systems recording transactions at each stage of the expenditure cycle and appropriate electronic connections between the “Ministry of Finance” and line ministries. Basic financial controls can be automated and made when registering transactions. To some extent, differences between budget execution systems based on external ex-ante control and system based on internal controls are dimming with modern technologies. Nevertheless, implementing an information system is not a panacea. It is costly, but overall, it requires appropriate budget accounting procedures that do not exist in many developing countries.

Learning Outcomes

• Be exposed to the mandate and scope of operations of Budget Control
• Understand the capacity of Managers to carry out oversight functions more effectively concerning Finance, Budget Monitoring and Implementation;
• Be able to Improve the Implementation of project processes, particularly for finance and Budget.
• Building synergy between budget control and Implementation.
• Develop and introduce modern communication tools for timely communication between legislators and stakeholders.
• Develop strategies for Policies, Managing and monitoring budget implementation
• Be able to control and monitor expenditure, management of Procurement activities