Training on Managing Public Money

Course Overview

Managing public money is crucial for governments, as it involves generating revenue through taxes, fines, and fees to fund essential services like police, fire departments, emergency medical services, and military operations during disasters. This course on managing public money is designed to educate individuals on how governments handle these funds, allocate expenditures, and understand the impact on economic development and citizen welfare. By focusing on public interest, effective management of public funds ensures that resources are used wisely to benefit society. 

Target Audience

This course is open to anyone interested in public finances and will be particularly beneficial for:

• Managers of public sectors
• Non-executive board members
• Senior managers
• Auditors and auditing managers
• Accounting executives and managers
• Financial reporting managers
• Financial executives, managers, controllers, and directors
• Budgeting officers, executives, and managers
• Government officials, staff from development agencies, and civil society organizations

If you are involved in managing public funds or interested in budget transparency and government accountability, this course is for you. 

Course Objectives

By the end of this managing public money training course, participants will be able to:

• Understand Public Money Principles: Grasp the basics of managing public funds and their importance.
• Recognize Key Requirements: Identify essential requirements for managing public resources effectively.
• Explain Market Failures: Understand the causes of market failures and identify solutions for public goods issues.
• Enhance Public Sector Outcomes: Improve public sector performance in dealing with externalities.
• Lead Global Change: Prepare to lead change in managing public funds anywhere in the world.

Key Outcomes

• Effective Fund Management: Ensure public funds are managed efficiently to support societal needs.
• Strategic Resource Allocation: Allocate resources wisely to maximize public benefit.
• Improved Governance: Strengthen governance through clear understanding and implementation of public money principles.

Course Outline

Module 1: Overview of Managing Public Money 

• What is public money and its components?
• The importance of managing public funds.
• Major issues and risks in handling public money.
• Principles for managing public resources effectively.

Module 2: Utilization of Public Funds 

• Understanding the utilization of public funds.
• Requirements and restrictions on public funding use.
• Identifying and addressing misuse of public funds.

Module 3: Government Accounts 

• Categorization of government accounts and public account management.
• Responsibilities and assessments of accounting officers.
• Collaborating with other organizations for effective fund management.

Module 4: Governance and Management 

• Conceptual framework for public fund governance.
• Records management and financial management efficacy.
• Governance responsibilities and internal monitoring controls.
• Conducting value for money audits.

Module 5: Best Practices in Using Public Funds 

• Sources of funding and cash management techniques.
• Public dividend capital and best practices for government boards.
• Techniques to ensure efficient use of public funds.