FINANCIAL MANAGEMENT FOR LOCAL GOVERNMENT ACCOUNT OFFICERS (PS/2019/BOAZ /02)

Accounting is the process by which financial transactions of an organization (be it public or private) are recorded, classified, analyzed, summarized and reported with a view to generating financial information for making good decision. The Local Government accounting systems aims at providing evidence of compliance with Government regulations while demonstrating accountability for the stewardship of the Local Government resources. It is a universally acknowledged fact that no meaningful economic planning and development can be made without sound Financial Management Practices. As a body that deals with public finance management, the Local Government’s development outcomes in its area of jurisdictions are contingent upon how efficient the fund entrusted to it is largely managed. It is against this backdrop that this 3-day course on FINANCIAL MANAGEMENT FOR ACCOUNT OFFICERS was designed. Participants and their Local Government Areas will benefit from enhanced knowledge and skills of modern Public Financial Management Practices which this course promises. With the Knowledge and skills, participants will be able to review the resource allocation and generation mechanisms, budgetary and financial controls within the Local Government Area. They will also ensure that resources are better planned, sourced and controlled.

COURSE OBJECTIVES

At the end of this 3-day workshop on Financial Management, Participants should be able to:

• Apply specialized Local Government account Classifications and financial reporting terms.
• Enhance their knowledge of Accounting concepts and conventions
• Prepare, monitor and implement Local Government Budgets
• Prepare and analyze Annual Financial Statement
• Identify Sources of Local Government Revenue:
• External Revenue
• Internally Generated Revenue
• Debt/Loans
• Demonstrate knowledge of Revenue Collection and Control Framework
• Enhance their knowledge of the meaning and functions of the Local Government Treasurer and Treasury Department.
• Adopt cost control measures in their areas of operation.
• Familiarize themselves with the Local Government BOOKS OF ACCOUNT

Identify Challenges of Financial management in the Local