INTRODUCTION

Public money is the money coming from the government, often through taxes, and also from fines and fees. This fund is used to help the public through goods and services, to financially support fire departments, the police, and Emergency Medical Technicians and to pay for the military and rescue organizations that help in the event of a disaster. The money is also used to protect the country as a whole. So, all the countries focus on how to manage public money with public interest at the forefront.

Objectives

At the end of this Managing Public Money training course, you will learn to:

Understand the principles and basics in managing public money

Recognize the key requirements of public funds and how required  to manage such resources.

Explain the main reasons of market failure

Identify the problem of public goods and its solutions

Improve outcomes of the public sector in the face of externalities

Preparing yourself and staff to lead change anywhere in the world

Course Outline

DAY 1

Overview of Managing Public Money

What is public money? And its components.

The importance of public money

The major issues in managing public money

Managing the risk of public funds

The principles for managing public resources

DAY 2

Utilization of Public Funds

What are the Utilisations of Public Funds?

Requirements for use of public funds

The major restrictions on the use of public funding

Misuse of Public Fund

Problems concerning the use of public funds

DAY 3

Government Accounts

The categorization of government’s accounts

Public Account

Responsibilities of accounting officers

Accounting officer assessments

Dealing with other organizations

DAY 4

Governance and Management

Conceptual Framework

Records Management and Effective Financial Management

Governance and responsibilities of board

Internal Monitoring and Controls

Value for Money Audit

DAY 5

Best Practices in Using Public Fund

Sources of funding

Cash management & Other financing techniques

Public dividend capital

Best practice for boards in central government departments

Techniques to ensure efficient use of public funds