Estimating capital requirements : The company must estimate its capital requirements (needs) very carefully. This course is almost entirely about the expenditure side of public financial management: issues of taxation, borrowing, debt and aid are dealt with in Public Financial Management: Revenue, while issues concerning the financial relationships between tiers of government are covered in Decentralization and Local Governance.
Consequently, reasonable governance is required to establish a sound public financial management system that is responsible for planning, budgeting, implementation and follow-up of government financed projects in the rural areas so as to create better conditions for sustainable development (Hallgerd, D. 2005:8).
Whether you like it or not, accounting finance is one thing you cannot dispense with in the world of business. Financial managers work closely with top managers and with departments that develop the data that financial managers need. Go beyond the basics of accounting with real-time business insights and fully auditable process management. This implies that the public financial management system should be designed in such a way as to deliver quality services to the rural dwellers in local government areas, most especially in Bayelsa state.
Assessment of public financial management performance Linpico Timor-Leste (2007), explained that public financial management system includes a budgeting system which is very ambitious on aggregate projections when compared to actual cash expenditure outcomes.
This includes the impact of financial management in Local government administration on effective and judicious use of public financial resources in Bayelsa State; the influence of financial planning and control on quality delivery of public services in local government areas of Bayelsa state; and the practice of public financial management in local government administration enhance transparency and accountability in the use of public financial resources of Bayelsa state.