This course is an overview of public financial administration inclusive of an examination of governmental revenues and expenditures. Reference will be made to fiscal and monetary policy relations, debt management, and administrative decision-making. By way of example, significant reference will be made to public financial administration in Jamaica.

This course aims:

• To develop an understanding for the public administrator of the relevance of
  public financial administration.
  
• To develop an understanding of the legal framework and arrangements associated
  with public financial administration.
  
• To show relationships between public financial arrangements and the wider
  economy.
  
• To improve the student understands of the Budget process and the essentials of
  budget preparation for central and line ministries.

Part 1

1. Course overview and introduction.
   
2. Background, framework and context of public financial administration
        2.1 Legal/constitutional framework for Public Financial Administration
        2.2 The Accountability Process and the role and function of selected officials
   
3. Policy, Planning and Budgeting
   The Budget Process
        3.1 Medium Term Expenditure Framework
        3.2 Expenditure component of the Budget
             - Recurrent Expenditure
             - Capital Expenditure (Public Sector Investment Programme)
        3.4 Resource component of the Budget
             - Tax Revenues
             - Non-tax revenues
             - Capital Revenues
             - Loans and Grants
        3.5 Analyzing the Budget - Simple tools.

Part 2 - Budget Preparation and Implementation

4. Budget preparation and budget implementation process
        a) Preparation of Public Estimates/Budget
        b) Linking expenditure (inputs) with planned objectives (outputs)
        c) Budget execution
        d) The monitoring and review process
        e) Programme/performance evaluation
        f) Government accounting system
        g) Importance and features of Financial Reports
        h) Auditing and programme evaluation
        i) The integrated results-oriented Financial Management Information System

Part 2 - The Economic Context and Selected Issues

5. Harmonizing Budgeting and Macro-economic challenges
   
6. Cash Management
   
7. Debt Management

Grading ¹

The overall grade for the course will be based on
     Midterm grading      - 20%
     Tutorial presentation, attendance and participation      - 10%
     End of term exam      - 70%

COURSE MATERIALS
It is assumed that all students have completed the equivalent of a first year course in
economics and thus will refer to a Macroeconomics Textbook as required.
Material for the course will be presented via lecture notes and or handouts delivered
through email. Some material may be delivered in class.

Other information and material for the course is as listed below:

• Knowledge of Section 114 to 121 of the Constitution of Jamaica is essential.
• Familiarity with the Financial Administration and Audit Act is an asset.

Note to Students:
Observation: Students that attended lectures and tutorials regularly tended to perform better. Please note that preparation for discussions in tutorials is expexted and essential.