Financial Planning and Budgeting in the Public Sector

Public Sector Financial Planning & Budgeting Training equips government and non-profit professionals with skills in public finance, accounting standards (like IPSAS), forecasting, performance management, and regulatory compliance, using methods from traditional input-based to modern accrual/output-focused budgeting, crucial for efficient public resource management and accountability.This course in Public Sector Accounting and Budgeting training seminar is designed to provide a comprehensive briefing on the fundamental principles and key functions in the continuously developing sphere of public sector finance. Non-financial public sector employees and managers are regularly required to both provide input to the budget process and respond to information presented in departmental financial reports.

This course provides a practical understanding of financial planning and budgeting processes within the public sector environment. It focuses on how governments and public institutions allocate resources, plan expenditures, and manage public funds in line with policy objectives, accountability requirements, and regulatory frameworks.

Participants will explore key concepts such as budget formulation, forecasting, capital and operational budgeting, performance-based budgeting, and financial control.

This training course will provide a useful practical introduction for the non-financial manager as well as an invaluable refresher and update for finance professionals working in the public sector. This training also incorporates a vital update on International Public Sector Accounting Standards Board (IPSASB) standards as well as recent developments in the field of New Public Management, specifically focusing on the reasons for and approaches to New Public Financial Management

Objective

• Understand the essential role of financial accounting in public sector management.
• Prepare accounts in accordance with the IPSASB framework.
• Analyze and interpret public sector financial reports with confidence.
• Use forecasting techniques to plan for income and expenses.
• Understand and actively participate in the public sector budgeting process.
• Apply capital investment appraisal methods to evaluate financial decisions.