Business Admin. and Management | THE RELEVANCE OF BUDGET AND PLANNING PROCEDURE IN PUBLIC SECTOR

THE RELEVANCE OF BUDGET AND PLANNING PROCEDURE IN PUBLIC SECTOR

65 pages | 1-5 chapters | ₦3,000 - price | 124 people found this post useful.

  ABSTRACT

The research was critically carried out to examine the budget and planning procedure in the public sector centered particular in the Ministry of health, Lokoja. It introduces and makes analysis on financial provision relating to term of budgeting and planning; such as forecasting of income and expenditure, their relationship as well as authenticated authority to rise and increase the appropriate fund for their appropriate programs. Thereby promote basic budgeting principals so as to clear the barriers capable of causing certain things to the system. It Also attempt to broaden the knowledge of those undergoing courses in accounting, financial studies as well as banking and fiancé in Polytechnic, University and College of education. It will also aid the student of business administration and the Local government. The financial memoranda as revised in this work, made elaborate management on the procedure existing in the ministry of health, Lokoja; such as careful adherence to those appropriations in the memoranda with respect to those warrants released, which is very important and compulsory as it formed the basis of ensuring probity, honesty and accountability in the ministry. It follows that the activities were handled only by those who knew them and with specified knowledge; the public funds should be disbursed within the available financial institutions. A thorough overview of this project work brings to mind the doubtless conclusion that the ministry of health does not adapt appropriate budgeting principles and conventions in a manner required by law.

CHAPTER ONE 1.1  BACKGROUND OF THE STUDY

Planning and budgeting are closely related terms which constitute the grassroots of resources management and control in public sector that is a situation where an advance estimate of expected income and expenditure is summarized to meet the later programmers to be undertaken, it also entails planning evaluating as well as controlling procedures.

In the government setting, the history of budget has been with the ideas of development planning. The need for development planning arose as a result of the scarcity of productive resources relating to the demand for them. The first nation embarked on a proper development planning was Sir Gordon’s Guggisberg in 1909 when he was the governor of gold coast in Ghana. His first five years development planning was the building of a hospital at Kalibar, a part of Tako Radi and Achimota Secondary School.

Nigeria began development exercise in 1946-1955 because of the unstable native of the economic development of the government was faced to break this long planning period into shorter period hence the yearly budget of today by the government.

It is in recognition of the crucial role that budget and planning play in public sector that the budget screening by different body at the highest authority during the yearly review to facilitate and provide smooth and expected budget control system. The accounting system provides related heads and subheads enable proper disbursement of expenditure or other payment.

It also helps the even distribution of limited resources to all the sector of the economy.

1.2  STATEMENT OF THE PROBLEM

The plan of things to be done in future in all organization which when evaluated in monetary terms becomes a budget, budget came into being in view of the fact that the resources needed to achieve organizational goals are scarce and limited, this calls for a forecast of income at disposal in relation to the expected program to be executed and the available resources.

The importance of budget and planning is substantial in public sector, when it is defective in organization to give rise to one or all the following abnormalities:

  1. Bankruptcy or insolvency
  2. Failure to meet the organizational goals and objectives
  3. General lack of direction and
  4. Administrative and managerial bottle neck.

1.3  OBJECTIVE OF THE STUDY

The objective of the study is to justify and quantify the extent to which budget and planning adopted in the ministry of health especially for the decision making with a particular reference to health the following are the objective of the study which the researchers would make inquires unto.

  1. Find out how fast and systematic the budget is being implemented by the managing directors within the ministry.
  2. To investigate law, effective and efficient budget and planning is operating.
  3. Verify the processes the budget undergo before final approval is obtained
  4. To enlighten the ministry on the relevant and the needs for budget and planning.

 1.4 SCOPE OF THE STUDY

The scope of this project would be centered on judging the performance standard of budgeting and planning in public sector and it covers a particular organization which is the ministry of health Lokoja in Kogi State.

1.5  RESEARCH QUESTYIONS

This following research question will be aid in gathering of data for this project work:

  1. Does budget and planning have a positive impact in the ministry of health?
  2. Is the planning procedure currently in the justified in relation to the output required?
  3. Is the budget and planning system of ministry of health effectively monitored and controlled?
  4. Is the planning procedure currently in the justified in relation to the output required?
  5. Is the budget and planning system of the ministry of health effectively monitored and controlled?

1.6  SIGNIFICANCE OF THE STUDY

This study will be of great assistance as well as guidance to the management of the public sector in order to enhance their efficiency in organization.

The data collected from the questionnaire administered shall serve or proffer implementation of budget and planning in public sector.

Therefore, the researcher aims at promoting basic budgeting principles so as to clear the barriers capable of causing constraints and it also designed to assist students who are likely to undergo courses in accounting and financial studies as well as banking in future to improve upon it.

1.7 LIMITATION OF THE STUDY

This research is undertaken with certain limitations:

  1. Time factors: the researcher is encountered with the problem of time lack of enough time constraints constitute in the pursuits of the program. The project of this nature requires enough time to evaluate every aspect of the system but the duration of the study, progr5amme would not allow it.
  2. Lack of funds: the researcher finds it difficult to raise funds to pay transport fare going to the organization i.e.: ministry of health, Lokoja, Kogi State to collect information necessary for this project work and funds for typing and bindings.

 1.8 DEFINATIONS OF TERMS

  1. BUDGETING: annual forecast to the expected income and expenditure attributed to the administration of the ministry of health.
  2. BUDGET DISCIPLINE: comprises of the financial discipline financial circular
  3. CALL CIRCULAR: administrative instrument or medium of communication used to notify the relevant authorities concern to commence budget preparation.
  4. EVALUATION: is the investigation of the value of judgment of budgeting, course of action.
  5. PLANNING: setting the organizational goals and ascertaining the future course of action to achieve their goals.
  6. TREASURY: the department in the ministry if health where finance are duly managed as appropriated
  7. PPBS: planning program me budgeting system.
Share on social media:

Get Complete Project Material(s) Now! »


Not what you were looking for? Perform a search

Quick Project Search


Drop a comment: