Abstract

This project is the Role Of Budgeting And Budgeting Control In Public Sector. That is to evaluate the role of budgeting in the public sector. How the public sector prepares its to budget and controls it affairs with minimum waste of financial resources so as to realize municipal project realization. And the significance of budgeting in the public sector. How budgeting helps in project realization in the public sector.

The purpose of the study is to determine the effect of budgeting on the economic development of the public sector. The study is aimed at improving budgeting as an effective tool for financial planning in the public sector.

Some of the problems associated with this study include, ascertain whether the budget is usually prepared aimed at realizing the state objective or if the budget makes them look ambitious, why are budgets bigger or small over the year.

The implication of these findings for budget preparations revenue control and budgeting techniques measurement and assessment are discussed. Some recommendations are made regarding how budgeting can be improved to help check the recurrent activities and improving the internally generated revenue.

CHAPTER ONE

INTRODUCTION

1.1   Background of the study

A government budget can be defined as a political and administrative instrument by which the executive and legislative bodies endeavor to allocate scarce resources among the various organs of the government at levels of regions or sub-division it is basically a tool for selecting a particular mix of public and private goods and services in the mechanism performs of the private sector.

The role of budget and budgetary control has become a very important financial control and accountability device in the public sector and provides a formal basis for monitoring the progress of the entire economy. The organization must economize resources and discover the means of achieving a specific plan.

A budget can be defined as a financial statement prepared and approved to define the period of time for the purpose of attaining a given objective it may include; income, expenditure, and employment capital. Often, when these plans are put into operation, conditions prevail which tends to course deviation from the plan and corrective measures are always taken to steer the organization back on the right track.

Also budget and budgetary control deals with the issue of making a good potential plan based on the revenue, expenditures, assets, liabilities, and cash flow for a definition of time, which is necessary in the governmental unit at every level to make a financial plan in order to carry out routine expenditures which help in making a financial decision,

The efficiency and effectiveness of the operation of any public or private enterprise depend on the control available in management in almost every organization, Therefore. the number of activities going on must be recorded for the attainment of the organization’s goals.

1.2 Problem Statement

The challenges faced by the most public sector in managing the fund is due to poor budget forecast and poor control of fund which result in the indiscriminate use of fund meant for more viable activities, again the inability of government parastatals to plan and accomplish budget goals is traceable to their inability to control their budget. The success of any government establishment base on the role of budget and budgetary control which is considered a very important tool for control.

Therefore, the research shall evaluate the role of budget and budgetary control in the public sector and operational estimate and actual collection of both revenue and expenditure.

1.3 Research Questions

1. Is there any significant effect on the budget and budgetary control in the public sector and it operational efficiency in terms of recurrent estimate and actual collection of both revenue and expenditure?
2. Do the working challenges negatively affect the preparation, implementation, and control of the budget in the public sector?
3. Is budgeting planning and control a necessary tool for the growth of the public sector?

 1.4   Research Objective

1. The purpose of the study is to examine the significance of budget and budgetary control in the public sector and operational efficiency in terms of recurrent and actual collection of both revenue and expenditure.
2. To analyze the impact of budget and budgetary control on operational efficiency in the public sector
3. To estimate the problem that negatively affected the preparation, implementation, and control of budget in the public sector. The importance of budget and budgetary control techniques in the public sector to identify the way forward in solving the problem…..

 

Significant Of The Study

Budget and budgetary control is very important and of great significance to any government parastatal but also necessary to manufacturing organizations and private sector

The study zeal contributes towards enhancing the importance of budget and budgetary control in the public sector.

It will also be useful to the general public in order to educate them on the role of budget and budgetary control.

Finally, this study will be a guide to scholars, researchers or writers who may wish to carry further study on budget and budgetary control. Budget implementation in the public sector.

 

Further Readings 

BUDGETING AS A TOOL FOR EFFECTIVE MANAGERIAL DECISION IN AN ORGANISATION: CASE STUDY SOWEDA