Tag Archives: #budgeting

Budget on Track

| March 31, 2025

Keep budgets under control and meet financial targets Budget on Track is our service to support budget holders, managers, and financial decision makers in the public and non-profit sector. If controlling budgets is important for your organisation, it requires all budget holders at every level to meet their targets, whether that be savings, or just not overspending. Sometimes they will need help. Budget on track is more flexible than a training course, but more cost effective than a personal consultant. It provides bespoke answers to questions when they are needed. Subscribers to Budget on Track are able to email their personal budget mentor (PBM), who is there to support them. It can be any kind of budget, revenue or capital or income. Our subscribers can ask simple or more difficult questions and receive some assistance. It may be help with financial planning, budget setting, variance analysis, budgetary control, more for less, statistical analysis, management reports, or something else. We are experts in delivering financial training courses, but often participants have

Robust Financial Management (RFM) for the Public Sector

| April 26, 2023

Robust Financial Management in the Public Sector (RFM) A necessity not a choice  What is robust financial management ? Firstly, we can define “robust” as follows: “Robustness is a characteristic describing a system’s ability to perform effectively while its variables or assumptions are altered. In general, a system is robust if it can handle variability and remain effective” (Investopedia) Public financial management refers to “the collection, management, and expenditure of public finances throughout an economy. The core objective of public financial management is to improve citizens’ lives through better management of public money.” (International Federation of Accounting) Combining these definitions, we can state that robust financial management in the public sector should be focusing on achieving the 4Es – Economy, Efficiency, Effectiveness and Equity in the use of public funds. This is in line with New Public Management (NPM) theories. NPM seeks to improve public sector management generally, including increased flexibility and transparency. This can be a challenging objective when public funds are limited, and the demands are high. Therefore,