Financial Management in Public Administration Sector

December 7, 2022

Financial Management in Public Administration Sector

Order Number	636738393092
Type of Project	ESSAY
Writer Level	PHD VERIFIED
Format	APA
Academic Sources	10
Page Count	3-12 PAGES

Instructions/Descriptions

Financial Management in Public Administration Sector

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Financial management is paramount in public administration. Misappropriation of funds or poor tracking of funds can lead to a cascade of issues and scrutiny from the public. As stated in Proverbs 13:11 “Dishonest money dwindles away, but whoever gathers money little by little makes it grow” (NIV). This passage from proverbs holds true in the concept that at times, individuals in power misappropriate government funds and get caught up in financial scandals.

Whether the public funds are being used for personal gain or to aid political agendas, misappropriation of public funds is criminal and by no means in line with the statesmanship model. “The funds you manage as a public administrator are not the government’s money. It is not yours either.

The money is the public’s; the taxpayer” (Liberty, 2020, p.4). Financial management practices are always the main topics of conversation amongst the public. Adhering to the statesmanship model, a government’s best practices should include a checks and balance system and full transparency to the public in which they serve.

“The greater demand for transparency, accountability, and efficiency forces governments all over the world to adopt new accounting, auditing, and budgeting techniques and to improve the scrutiny and timeliness of their reporting” (Marti & Kasperskaya, 2015, p.165).

Having full participation from individuals within the agency and input from stakeholders is a strong start to face challenges for a would-be statesman dealing with financial management in public administration. Practicing participatory budgeting allows stakeholders participation in the preparation of a public budget and at the same time addresses budget dysfunction (Smith & Bempah, 2017).

Allowing full transparency when any public funds are involved is the best practice to avoid any type of misconduct allegations. In 1998, the World Bank provided a list of items for assessing the best public budget practices. Items on that list included: evidence-based planning and budgeting, an equitable resource allocation criteria, transparent plans and budgets, effective spending control, efficient cash management and accountability for expenditure (Smith & Bempah, 2017).

All of the items on the list provided by the World Bank follow the art of statecraft, showing transparency when dealing with public funds to those who you dedicated your life to serving. A misappropriation of funds or poor financial management may lead to hardship for future generations.

“Higher levels of debt may represent a burden of future interest costs and principal repayments that would reduce a governmental agency’s ability to meet demand for services and thus increase the fiscal pressure on future generations of taxpayers” (Alcaide Munoz, Rodriguez Bolivar, & Lopez Hernandez, 2017, p.555).

Best practices for a Christian statesman when diluted to their simplest terms are not that complicated, do the right things even when no one is looking. A Christian public administration is a servant to the public and practices selfless serve. Doing what is best for the public with public funding despite personal opinion is how a statesman would succeed in the financial management of public funds. Proverbs 21:3 “To do what is right and just is more acceptable to the Lord than sacrifice” (NIV).

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References:

Alcaide Munoz, L., Rodriguez Bolivar, M. P., & Lopez Hernandez, A. M. (2017). Transparency in Government: A Meta-Analytic Review of Incentives for Digital Versus Hard-Copy Public Financial Disclosures. American Review of Public Administration, 47(5), 550–573. doi: 10.1177/0275074016629008

Liberty University (2020) Budgeting Theories in Public Organizations. retrieved from https://learn.liberty.edu/bbcswebdav/pid-36372703-dt-content-rid- 439928258_1/courses/PADM610_B02_202020/PADM610_LUO_8WK_MASTER_Imp ortedContent_20180723025359/Presentations/Module%206/html5.html

Marti, C., & Kasperskaya, Y. (2015). Public Financial Management Systems and Countries’ Governance: A Cross Country Study. Public Administration and Development, 35, 165–178. doi: 10.1002/pad.1711

Smith, B., & Bempah, O. (2017). Determinants of sound budgeting and financial management practices at the decentralised level of public administration. OECD Journal on Budgeting, 16(2), 109-128. doi:http://dx.doi.org.ezproxy.liberty.edu/10.1787/budget-16-5jg19mnf3vr1

Financial Management in Public Administration Sector

RUBRIC

Excellent Quality

95-100%

Introduction

45-41 points

The context and relevance of the issue, as well as a clear description of the study aim, are presented. The history of searches is discussed.

Literature Support

91-84 points

The context and relevance of the issue, as well as a clear description of the study aim, are presented. The history of searches is discussed.

Methodology

58-53 points

With titles for each slide as well as bulleted sections to group relevant information as required, the content is well-organized. Excellent use of typeface, color, images, effects, and so on to improve readability and presenting content. The minimum length criterion of 10 slides/pages is reached.

Average Score

50-85%

40-38 points

More depth/information is required for the context and importance, otherwise the study detail will be unclear. There is no search history information supplied.

83-76 points

There is a review of important theoretical literature, however there is limited integration of research into problem-related ideas. The review is just partly focused and arranged. There is research that both supports and opposes. A summary of the material given is provided. The conclusion may or may not include a biblical integration.

52-49 points

The content is somewhat ordered, but there is no discernible organization. The use of typeface, color, graphics, effects, and so on may sometimes distract from the presenting substance. It is possible that the length criteria will not be reached.

Poor Quality

0-45%

37-1 points

The context and/or importance are lacking. There is no search history information supplied.

75-1 points

There has been an examination of relevant theoretical literature, but still no research concerning problem-related concepts has been synthesized. The review is just somewhat focused and organized. The provided overview of content does not include any supporting or opposing research. The conclusion has no scriptural references.

48-1 points

There is no logical or apparent organizational structure. There is no discernible logical sequence. The use of typeface, color, graphics, effects, and so on often detracts from the presenting substance. It is possible that the length criteria will not be reached.