barrett farm food
GROUP ASSIGNMENT TASK
Title:
Develop guidelines for a developing/emerging country (like Kenya) Public Financial sector
Due date:
Tuesday 22nd October 2013
Details of task:
The task is to develop a set of guidelines to deal with a financial management problem. The primary objective of the (fictitious) Unity and Prosperity Development Bank (UPDB) is to assist in the development of its member developing / emerging countries. The bank has approached your consulting firm as renowned experts in public sector financial management) to develop a set of practical guidelines intended for use as a non-mandatory reference tool by member countries seeking to improve their public sector financial management performance.
The terms of reference for this task require an overall public sector financial management framework that is consistent with (but not necessarily limited to) the principles of:
1. Long term benefit of proper financial management in the public sector;
2. Community-wide focus in financial management in public sector;
3. Performance basis with measurable outcomes for financial managers in public sector;
4. The need for strong governance and accountability mechanisms in financial management of public sector
5. The key challenges facing emerging nations like Kenya in managing public finances;
6. Fragmented service provision in the public sector (Fragmentation refers to the existence of a large number of separate funding mechanisms);
7. Lack of public sector performance culture;
8. Narrow revenue bases and lack of tax collection systems;
9. Lack of resources for provision of essential infrastructure by governments of emerging nations like Kenya; and
10. Need for unsophisticated budgeting and reporting systems in the public sector
The UPDB has requested that the guidelines be presented in a report format, with special consideration to be given to:
(i) The need for the advice to be meaningful in a wide range of member country
Title:
Develop guidelines for a developing/emerging country (like Kenya) Public Financial sector
Due date:
Tuesday 22nd October 2013
Details of task:
The task is to develop a set of guidelines to deal with a financial management problem. The primary objective of the (fictitious) Unity and Prosperity Development Bank (UPDB) is to assist in the development of its member developing / emerging countries. The bank has approached your consulting firm as renowned experts in public sector financial management) to develop a set of practical guidelines intended for use as a non-mandatory reference tool by member countries seeking to improve their public sector financial management performance.
The terms of reference for this task require an overall public sector financial management framework that is consistent with (but not necessarily limited to) the principles of:
1. Long term benefit of proper financial management in the public sector;
2. Community-wide focus in financial management in public sector;
3. Performance basis with measurable outcomes for financial managers in public sector;
4. The need for strong governance and accountability mechanisms in financial management of public sector
5. The key challenges facing emerging nations like Kenya in managing public finances;
6. Fragmented service provision in the public sector (Fragmentation refers to the existence of a large number of separate funding mechanisms);
7. Lack of public sector performance culture;
8. Narrow revenue bases and lack of tax collection systems;
9. Lack of resources for provision of essential infrastructure by governments of emerging nations like Kenya; and
10. Need for unsophisticated budgeting and reporting systems in the public sector
The UPDB has requested that the guidelines be presented in a report format, with special consideration to be given to:
(i) The need for the advice to be meaningful in a wide range of member country