Budget and Budgetary Control: Key to Planning and Control in Public Sector
Posted: 22 Apr 2019
Date Written: September 5, 2009
With the increasing wave of uncertainties, socio-political instabilities and ever changing conditions of business environment, organizations are bound to realize the integrity and rationality of a budget which must be upheld at all cost possible to avoid failure in Planning. The ultimate survival of organizations is dictated by how proficiently funds are acquired and managed. Such issues as whether necessary resources are being wasted, how can available resources be more efficiently used are just a few of the many questions answered by Budget and Budgetary control. Thus, it is the purpose of this paper to examine Budget and Budgetary control as a device designed by Management to ensure the efficient use of resources. Particular emphasis is on Budget and Budgetary control as a key to planning and control in Public Sector. In examining the issue, the general matter of study is introduced alongside with the statement of purpose and significance of the work. The concept and objective of Budget and Budgetary control and Public Sector are highlighted. Furthermore, the paper went ahead to analyze Budget and Budgetary control as a key to planning in Public Sector, the importance of active participation to ensure effective budget and other conditions that must exist for Budget to be effective. Finally, suggestions were proffered and conclusion drawn.
Keywords: Budgetary Control, Planning and Control
Suggested Citation: Suggested Citation