The budget planning process is a crucial part of the budget cycle that helps to balance the government’s limited resources with its competing policy priorities. A well-functioning budget planning process promotes fiscal discipline and facilitates the attainment of strategic goals. In addition, budget laws mandate the aggregation and publication of budget plans for submission to the legislature for authorization.
This course will introduce you to the budget planning process, including the concepts of Medium-Term Expenditure Frameworks and budget ceilings. You will learn how to improve budget planning through iteration with the use of budget versions and scenarios. And you will understand how to maximize fiscal discipline through the use of binding ceilings.
- Introduce the Budget Planning process
- Understand Medium-Term Expenditure Frameworks and budget ceilings
- Learn how to improve budget planning
- Explore the various functionalities of a Budget Book Builder
- Learn the various functionalities of the following FreeBalance Accountability Suite™ modules:
- (GPBB) Budget Book Builder
- (GPPB) Government Performance Budgeting
- (GPPM) Government Performance Management
- Preparing budget scenarios and versions
- Preparing budget plans in accordance with a Medium-Term Budgeting Framework
- Setting and distributing binding and non-binding ceilings
- Crafting iterative budgets through budget versions
- Publishing a Budget Book
- PFM Consultants
- GRP Consultants
- Business Analysts
- Civil Servants
- Policy Makers
Expenditure refers to the payment of a sum of money by an organization, arising from a valid commitment or obligation.
Government Treasury Management helps the spending units set payment priorities. The Treasury updates bank balances through the bank statement, which includes daily revenue collections. Based on the liquidity available, the Treasury can decide which payments to release and which payments to delay.
Purchasing encompasses all activities related to the acquisition of goods, services, and works. A good purchasing and public procurement system ensures that the needs of the end-users in organizations are met while maximizing value-for-money. Because most organizations implement its mandate through contracting third-party providers, an efficient purchasing system that enforces sufficient internal controls and that promotes transparency and ease of audit is key to government operations.