This course will provide you with a broad overview of the key governance processes used in the Public Sector when formulating budgets. It will also assist you to understand the linkages between the whole-of-government budget processes and organisational budgets.

Key topics:

  • Public Sector context -The whole-of-government governance principles (including examples of rules, legislation and accountability mechanisms) 
  • Budgeting framework - The approach used in setting Public Sector budgets (including the external whole-of-government contexts and key outputs)
  • Organisational budgeting - The purpose of organisational budgeting and various accountability and transparency mechanisms; how the internal organisation budget links to the whole-of-government process; the approach, systems and techniques of internal budgeting; common issues in the budgeting process and how these might be overcome
  • Budget estimation and forecasting - How the set budget is managed over time, aligning the financials with future expectations
  • Performance reporting - A typical reporting framework, and how budgets are analysed to provide insight as well as information
  • Budget modelling practice - Preparing detailed budgets
  • Glossary and abbreviations - The common language used by the Public Sector in managing budgets

Learning objectives

  • Explain the context, framework and governance elements of Public Sector budgeting
  • Assess the appropriateness of the principle budgeting techniques for Public Sector organisations
  • Implement budgeting techniques using basic scenarios
  • Outline the forecasting and performance reporting elements
  • Analyse your own organisation’s budgeting processes and identify opportunities for implementation of improvements
  • Communicate budgets and budgeting processes to relevant stakeholders

Audience

This course has been specifically designed for finance and accounting professionals working in the Public Sector.

365 Days

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