Question

The Basics of Public Budgeting and Financial Management - Charles Manifield Chapter 1

1. Why should public administrators, who are not finance and budget directors, study budgeting and finance? What skill do they need to develop?

Answer 1

The public administrators who are not finance and budget directors, study budgeting and finance to understand the importance of the public finance management, the tax collected and the revenue generated can be used in the development and welfare of the society, etc. This helps them to prioritize the public resources allocation, accomplishment of policy goals, establish accountability to make use of the tax payer finance, ensure the compliance of the financial controls and most importantly the public administrators are approval and reviewing authority so the understanding is essential for the entire process. The skills which need to develop by them is critical thinking, data analysis and generate insights. Some of the other skills are, such as strategic thinking and planning, revenue management and its reporting and provide oversight as an when required.