AN EVALUATION OF THE PERFORMANCE OF BUDGETING AND BUDGETARY CONTROL IN IMO STATE PUBLIC SECTOR A CASE STUDY OF SELECTED MINISTRIES IN IMO STATE.
This project is designed to give insight into the use of
budget and budgetary control as a tool for evaluation of the performance of
government ministries in Imo State public sector.
It must be remembered that budgeting in government
ministries encompasses two phases of the financial management cycle. The first
consist of the expression in monetary terms of the short term plans and the
second consist of execution, accounting and internal control in which all plans
are expected to be executed and internally controlled.
The researcher approached this project in the first chapter.
Chapter two and three constitutes the preliminary search which includes
comprehensive literature and review and research methodology. In chapter four,
data was collected with the help of questionnaire, interviews and extraction
from budget estimates and were used in making an empirical analysis and simple
percentage. Chapter five present the findings, recommendations and conclusion
of all the work done, it established that an effective budgetary system has a
position co-relating with enhancing system has positive re-relation with
enhancing performance of government ministries.
This research project is dedicated to almighty god, for his
love, care and mercies throughout this project. Also to my beloved parents, Mr.
and Mrs. Jude Okoro, my lovely sisters for their encouragement both financially
and morally including successfully instruction given to me during the
production of this work.
TABLE OF CONTENTS
Table of contents
List of tables
1.1 Background of the study
1.2 Statement of the problem
1.3 Objectives of the study
1.4 Research questions
1.5 Significance of the study
1.6 Scope of the study
1.7 Limitation of the study
1.8 Definition of terms
Review of related Literature
2.1 Definition of the budget
2.2 Purpose of the budget
2.3 Preparation of budget manual.
2.4 Planning and control process.
2.5 Types of budget for planning and control
2.6 Budget and budgeting control
2.7 Budgeting as a tool of control
2.8 The present budget system in Imo State.
2.9 Establishment of budget committee.
2.10 Causes of ineffectiveness of a budgeting system
2.11 Budget structure and documentation, the three should
3.0 Research methodology
3.1 Research design
3.2 Source of data
3.3 Data collection procedure
3.4 population and Sampling size of the study
3.5 Instrument for data collection
3.6 validity and reliability of measuring instrument
3.7 Data analysis technique
4.0 Presentation and analysis of data
4.2 Presentation of data
4.3 Data Analysis
4.4 Interpretation of result
5.0 Summary, conclusion and recommendation
5.1 Summary of findings
1.1 BACKGROUND OF THE STUDY
The concept of budgeting is as old man in history. We learnt
that the early man had to determine whatever he needed in advance before it
Ojaide (2002:3) this is very obvious in the present days in
the lives of individuals, a state or nation. For one to succeed in this world,
one has to plan ahead and map out how to uses limited resources to achieve
As a nation plans ahead in terms of revenue and expenditure
within specific period of time so also an individual, local or state government
conceptualizes anticipated revenue and disbursement within a period of time.
This is called budget.
Oparaeke C.N defined budget as a “plan of financial
operation stating an estimate of proposes means of financing it. The term
budget of government which is presented to the legislative body for approval. A
government budget may involve billions of naira, but all budgets resemble one
another in certain ways”
Budgets help individual or group achieve certain goals in
making them use what ever resources available wisely. Every establishment be it
public or private finds necessary to prepare budgets and institute budgetary
control for the purpose of translating policies coordinating activities as well
as instituting financial control in order to achieve the best possible result.
This as budgeting is made both in public and private sector, it can therefore
be seen that budget and budgetary control if effectively planned and
implemented can be used as an effective management techniques for achieving
proper financial management.
1.2 STATEMENT OF THE PROBLEM
There is general awareness all over the world of the need to
pay greater attention to the development of government budgeting and control.
The reason is obvious government in all nations constitutes the largest single
entity and in many places the core of the economy.
Its pattern of expenditure or manner of resources allocation
determines the extent to which accountability, economic efficiency and
effectiveness can be achieved. The budget system which is very complex should
aim at attaining greater efficiency in the use of scarce government resources
as well as establishing priorities among completing goals.