Elucidating finance and empowering non- financial public sector professionals to become more self-confident in making decisions.

Overview

The public sector, in its quest for efficiency, must allocate its financial resources in the most productive way possible and optimize the use of public funds, while respecting the objectives of the government policies.

This seminar focuses on the processes of preparing budgets and evaluating the profitability of public investments, drawing on good practices in budgetary monitoring and internal control, which are necessary conditions for good governance.

Course Objectives

1. To understand the concepts and principles necessary for sound public financial management.
2. To evaluate different types & design custom key performance measurement systems
3. To improve capital budgeting decisions in the public institutions and state owned enterprises
4. To acquire the relevant skills to enhance internal controls to prevent fraud and corruption

Who should attend?

1. Reporting Officers
2. Administrative Assistants & Coordinators who work with budgetary tasks
3. Officers involved in the procurement of goods & services
4. Project coordinators in various public programs

NB: Prior knowledge of accounting/ finance is NOT required.

COURSE OUTLINE

INTRODUCTION

• Trends in public financial management.
• Achievements, challenges and opportunities.

BUDGET MANAGEMENT

• Expenditure framework and budget process.
• Performance monitoring and reporting.
• Financial and non-financial indicators.
• Scorecards.

INTERNAL CONTROL

• Internal control integrated framework (COSO).
• Implementation and assessment of the internal control system.
• Consequences of an inadequate internal control system.
• Fraud prevention.

CAPITAL BUDGETING, INVESTMENT DECISION AND ECONOMIC ANALYSIS

• Setting priorities according to policies.
• Monetary and non-monetary tools: Multi-criteria, Cost-Effectiveness and Cost-Benefit Analysis.
• Capital and interest, cash flows, decision-making criteria: internal rate of return (IRR) and net present value (NPV).
• Cost of public capital and external financing.
• Risk analysis and critical variables.
• Economic analysis, distortions and shadow prices.

PLANNING OF CAPITAL PROJECTS

• Detailed work/resource allocation.
• Multi-annual and annual budget by products.
• Product-oriented annual cashflow forecasts.

MONITORING AND EVALUATION OF CAPITAL PROJECTS

• Budget execution rate.
• Performance-expenditure continuum.
• Cost-benefit review.