EFFICIENT PUBLIC FINANCIAL MANAGEMENT FOR EFFECTIVE GOVERNANCE AND SUSTAINABLE URBAN DEVELOPMENT
DOI:
https://doi.org/10.47604/jppa.1459Keywords:
Financial Governance, Public Finance Management, Sustainable DevelopmentAbstract
Purpose: This paper looked at the principles of good financial governance that including: Financial planning practices, Revenue mobilization strategies, monitoring and evaluation units and assessed how they affect sustainable urban development.
Methodology: Through a situational analysis, this report comes up with a conceptual literature which evaluates existence of correlation between efficient governance, monetary management as well as sustainable urban development.
Findings: The paper established that the fundamental reason for public financial management is logical, efficient and time-time evaluation of financial practices employed by the urban councils to promote institutional learning on one hand as well as improving future performance and therefore, enhance the standard of their financial decision making. And thus, it concludes that effective and efficient use of public funds depends on the level of Accountability. Also, good financial governance and good institutional structures are crucial in attaining sustainable development.
Unique Contribution to Theory, Practice and Policy: The paper recommends that, public institutions should strive to attain good financial governance which enhances management decisions, accountability and organization learning in attaining sustainable development. This paper also recommends that M&E should support evidence-based decision making as well as nominal compliance. In order to enhance planning, service delivery and policy process M&E should be properly institutionalized, funded and located.
Downloads
References
Abd Aziz, M. A., Ab Rahman, H., Alam, M. M., & Said, J. (2015). Enhancement of the accountability of public sectors through integrity system, internal control system and leadership practices: A review study. Procedia Economics and Finance, 28, 163-169.
Baumann, P. (2013). Sustainable livelihoods and political capital: Arguments and evidence from decentralization and natural resource management in India. London: Overseas Development Institute.
Fan, Y. (2015). The centre decides and the local pays: Mandates and politics in local government financial management in China. Local Government Studies, 41(4), 516-533.
Fiador. V, (2013). Determinants of Financial Governance Practices-Evidence from NGOs in Ghana. International Journal of Sociology and Social Policy, Emerald Vol. 33 Issue 1/2.. Availablefrom: https://www.researchgate.net/publication/236842217_Determinants_of_Financial_Governance_Practices-Evidence_from_NGOs_in_Ghana_International_Journal_of_Sociology_and_Social_Policy_Emerald_Vol_33_Issue_12 [accessed Jun 11 2021].
Gituma, H. K. (2017). Determinants of effective revenue collection by Embu County, Kenya (Doctoral dissertation, University of Embu).
Kung, F., Huang, C., & Cheng, C. (2013). An Examination of the Relationships among Budget Emphasis, Budget Planning Models and Performance. Management Decision, 51, 120-140
Lamdany, R., & Martinez-Diaz, L. (2009). Studies of IMF governance: a compendium. International Monetary Fund.
Motubatse, K. N., Ngwakwe, C. C., &Sebola, M. P. (2017). The effect of governance on clean audits in South African municipalities. African Journal of Public Affairs, 9(5), 90-102.
Noore Alam, S., Dian Nastiti, and Nur Ana Sejati (2012). Regional Autonomy and Local Resource Mobilization in Eastern Indonesia: Problems and Pitfalls of Fiscal Decentralization. Asian Affairs: An American Review Vol. 39, Issue. 1, 2012
Oates, L. R. (2011). Fiscal decentralization and intergovernmental fiscal relations: a crosscountry analysis. World Development, 28(2), 365 - 380.
Ojok, J., &Basheka, B. C. (2016). Measuring the effective role of public sector monitoring and evaluation in promoting good governance in Uganda: Implications from the Ministry of Local Government. Africa's Public Service Delivery & Performance Review, 4(3), 410-439.
Scott, G. K. (2016). Influence of Revenue Mobilization Practices on Service Delivery in Decentralized Governments: The Case of District Assemblies in Ghana.
Shah, A. (2009). Budgeting and budgetary institutions. World Bank Publications
Wanjara, S. (2015). Influence of Internal Control System on the Financial Performance of Kenya Power. KCA University
World Bank, (2004). Public financial management in World Bank operations: a strengthened approach to enhance development and fiduciary objectives. World Bank
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2022 Salome Musau
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution (CC-BY) 4.0 License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
