The service of providing funds or capital for commercial or private reasons comes under the umbrella term – Finance. These resources include pamphlets and online resources outlining the benefits of receiving a college education, loan calculators for students, and loan education resources for lenders, borrowers, schools, and counselors and financial aid professionals.
While the format of regular reports and information disseminated on revenues and expenditure should be adequate to enable good decision-making, enforcement of transaction controls for management and reporting purposes, they do not achieve these objectives.
Also, there must be an existence of a transparent procurement system as an integral part of the overall public financial management system which is supported by a clear regulatory framework that provides for competition, value for money and effective controls.
As far as local government authorities receive monthly allocations, collect revenue and incur expenditures, there is need to practice sound public financial management to plan and control available fund for carrying out development goals among other things.
In a situation that proper public financial management is not observed, there is always poor implementation of development projects in the rural areas which jeopardize the effort of government good intentions to reach the rural dwellers in various local government areas.