THE CONTROL AND ACCOUNTABILITY IN THE MANAGEMENT OF PUBLIC FUND A TOOL FOPR BUSINESS TRANSPARENCY AND HONESTY (A CASE STUDY OF UDI LOCAL GOVERNMENT AREA)
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THE
CONTROL AND ACCOUNTABILITY IN THE MANAGEMENT OF PUBLIC FUND A TOOL FOPR
BUSINESS TRANSPARENCY AND HONESTY
(A
CASE STUDY OF UDI LOCAL
GOVERNMENT
AREA)
ABSTRACT
This study focused on
control and accountability in the management of public fund: a tool for
business transparency and honesty. Practically, almost all the local government
in Nigeria is characterized by inefficient and ineffective management of public
resource. The activities of government at all levels are threatening to
undermine the essence of the country at various local governments have turned
into place of embezzlement of public fund, corruption and mindful of contracts.
In chapter one of this study, the statement of problems in this study is that
the countries assumed strength by the volume of resource they harness developed
iver time and much more by the efficient allocation and management of these
resources. For the purpose of clarity and appraisal, the source of data used in
this work is primary and secondary data, the primary data comprised of the
responses gathered from the workers of the local government while the secondary
source of data involved textbooks, magazines, newspapers and articles. The
summary of this work is after analyzing the data collected for the study, the
result shown that all the services provided by government general
administration is the most prominent service it provides. The study reveals
that the major characteristics of public fund is that it is centered on public
interest. In conclusion, it is hoped that if the recommendation of this study
is religiously applied, the financial problem of Udi Local government will
become a thing of the past and management of public fund will achieve greater
success.
TABLE OF CONTENTS
CHAPTER ONE:
INTRODUCTION
1.1 Background
of the
Study
1.2 Statement
of the Problem
1.3 Objective
of the Study
1.4 Research
Questions
1.5 Significant
of the Study
1.6 Scope
of
study
1.7 Limitation
of the Study
Reference
CHAPTER TWO: REVIEW
OF RELATED LITERATURE
2.1 Feature of
Public Financial Management
2.2 Control,
Accountability and Transparency
2.3 Weakness on
the Management of Public Fund
2.4 Way of Improving Financial Control and
Accountability in Government
Reference
CHAPTER THREE: DATA
RESEARCH DESIGN AND METHODOLOGY
3.1 Source of
Data
3.2 Population
of the Study
3.3
Determination of Sample Size
3.4 Sample
Technique
3.5 Selection
and Construction of Research Instrument
3.6 Instrument
Return Rate
References
CHAPTER FOUR:DATA
PRESENTATION AND ANALYSIS
4.1 Data
Presentation and Analysis
CHAPTER FIVE: SUMMARY
OF FINDINGS, RECOMMENDATION
5.1 Summary of
Findings
5.2
Recommendation
5.3
Conclusion
Bibliography
Appendix
CHAPTER
ONE
1.1 BACKGROUND
OF THE STUDY
Management of the public fund requires that resources entrusted to the case of
government by her citizens be prudent managed and duly accounted for public
funds are collectively owner be members of a defined society or policy. These
funds are collectively managed either directly or indirectly, that is through
their representative.
According to Chikeleze (2004) “public financial management, financial
management takes critical consideration of groups that inter play in the
policy, their various roles and the implication of intervening variables for
resources distribution among contending group”. Government supposes to build on
some form of accountability to the public that instituted it. It requires that
surrender of certain parts of the rights of members of a society and their
common resources to the government, which acts as common agent in order to provide
services that are considered most appropriate to be provided by a common agent.
Accountability has different dimensions as can be viewed in political
administration and financial perspective, which ever angle on considers it, the
main rational for accountability is to ensure effectiveness and real value for
money spent by government. In other words, the government is expected to be
accountable to the public in the management and utilization of public funds,
entrusted to their care for the purpose of presuming their common good.
Public financial management therefore deals essential with and utilizes it in
the process of providing the society with some of these desirable goods and
services.
The responsibility of government at national, state and local levels often have
multi-dimensional implication, touching on the social, economic and political
lives of the society. The discharge of these responsibility often involves
financial activities in raising and spending public funds.
The activities of government in managing her resources are neither exclusively
in nature not exclusively political. Rather it rates some where in between and
balances the pure economic principles of free economic and the welfare
responsibility of government to ensure equity and fairness in the distribution
of the communally owned public funds.
Ozo (2002), said “public financial management therefore deals
with government’s
economic behavior covering its techniques, guiding principles, rules and
policies which influence government mobilization and deployment of public
resources”. This is because individual in the society have certain needs which
needs to be meet in the process of their meaningful existence, but which if
pursued as individual members of the society may counter productive to the
overall interest of the society.
The generation and expenditure of public resources occur at all the tiers of
government and the numerous government agencies scattered all over. These
include the federal, state and local government and all the agencies operating
both within and outside their government boundaries.
In the words of Chikeleze (2004), the functions of these government and their
agencies in public resources management involves a wide spectrum of activities
that have implications for the local economy and the international community
economically socially and politically. In carrying out these functions,
government remains conscious of public interest, since it is both responsible
and accountable to them. The public on the other hand keeps watch over the
activates of government to ensure that they act in perceived of public
interest.
Obviously, involvement of government and their agencies in the management of
public funds will without doubts depends on the basis that they are going to
ensure that there is prudent and efficient in the management of these resources
through taxes which they pay or expects that utilization of their funds well,
without any conscious guide meet up with their wishes and aspirations and will
ensure fair play and equity for all.
1.2 STATEMENT
OF THE PROBLEM
Countries assume strength by the volume of resources they harness, develop
overtime and much more by the efficient allocation and management of these resources.
The government in many resources has assumed the function of entrepreneurs and
taken over the managerial functions. Instances abound to convince everyone that
the government has not faired as good manager of the public funds and has been
performing worse than private entrepreneurs.
Public ownership of funds connotes a rightful claim by members of that society
to them either directly or indirectly. In other words, individuals and groups
within the society posses some right to the use of such funds either directly
or indirectly.
However, the government has failed the public hence the management of these
public finance does not bring on public interest. This is as result of the
following. The nature of how the government came to power sometimes, it assumes
power through selection and consequently gives obligations to body responsible
for that selection while the public takes second place. At other time
politicians enter government positions through fraud and corrupt practices of
financed by personal interest and that of their political sponsors.
Also, pervasive and institutionalized corruption has promoted personal interest
and gains over public interest. The long standing ethnicity in Nigeria in
particular has influenced public expenditure management.
In addition, the overriding of the contributions of the legislature by the
executive arm of the government portends neglect of the view of the public as
well as taking a narrow and unexamined view on important national matter. This
trend has taken over public expenditure in favour of a select few to the
detriment of the larger public.
Against this backdrop, the question therefore is how can the government enhance
the prudent and efficient utilization of public funds.
1.3 OBJECTIVE
OF THE STUDY
This study if targeted at revealing the role of the public financial managers.
To discover the ways by which the public can claim ownership of their funds as
well as participants directly or indirectly in their management.
To ascertain the main features of the public management that makes it wholly
public interest oriented.
To determined responsibility and accountability in the management of the public
funds by the government.
To discover the factors that are militating against accountability in the
management of public funds. At the end to device ways of ensuring prudent and
efficient generation and utilization of the public funds.
1.4 RESEARCH
QUESTION
This study is going to provide answers to the following question:
1. What
are services provide by government in the management of the public funds?
2. What
impact do accountability and transparency have on the socio-economic
development of Nigeria?
3. What
are the main characteristics of public finance and
4. What
will be done to prudence and efficiency in the management of the public funds.
1.5
SIGNIFICANCE OF THE STUDY
The study will in the following ways help to reveal the role of the government
and her agencies as the public financial managers.
The study will enlighten the public on the need to choose the right
representatives to management of their funds. The study is aimed at aiding the
government to understand how to source revenue for socio-economic development
of the nation.
The study will enable the public to participate fully and effectively in
generation of the public funds and in their management to ensure that it is
centered on public interest.
This study is going to contribute immensely to the award of Higher National
Diploma (HND) certificate to the researchers as well as serve as reference
materials to further research in the department of public administration.
1.6 SCOPE OF
THE STUDY
This deals with the role of accountability in the management of the public
funds with particular reference to Udi Local Government area in Enugu state.
Though the focus in on Udi local government area the result of the study may be
applicable to other local government councils in the state.
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