This book is one of a series of books entitled Essential Skills for the Public Sector. It’s target readership is any person in the public sector who manages a budget. It covers the process of devolvement; preparing budgets; controlling and monitoring budgets; understanding financial information; and the link between management and financial responsibility. The style of the book encourages self-development and continuous improvement with the inclusion of skill based exercises, and practical self-assessment activities. The style is simple, easy to read, and accessible to staff at all levels within an organisation. Managing and being responsible for public funds is one of the most important tasks of a public sector manager, particularly in the current environment where budgets are constrained and in many cases reducing. This is an area of skill and knowledge that cannot be taken for granted, as many public sector managers will have had no formal training in this area. It is an ideal text to assist managers become more effective and efficient in the way in which they undertake budget management. The outcome being improved value for money services which benefit the whole community.
DEVOLVING THE BUDGET
What is Devolvement?
Why Devolve Budgets?
The Devolvement Process
Commonly Devolved Budgets
Level of Devolvement
Being Responsible for a Devolved Budget
SummarySETTING THE BUDGET
What is a Budget?
Budget Setting Cycle
Key Elements of a Budget
Budget Setting Techniques
Application of Budget Setting Techniques
Common Budget Setting Practices
Monitoring and Managing the Budget
Budgetary Control Process
Reasons for Variances
Projecting the Outturn
Taking Corrective Action
Controllable and Uncontrollable Budgets
Controlling Income Budgets
FINANCIAL MANAGEMENT INFORMATION
Using the Financial Management Information
MANAGEMENT AND FINANCIAL RESPONSIBILITY
Linking Management and Financial Responsibilities
COMMON PROBLEMS IN MANAGING A DEVOLVED BUDGET ANSWERED
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