Assessment of Financial Management Processes and Performance in the Public Sector: A Case Study of Accra Metropolitan Assembly (AMA)
Edward Attah-Botchwey

The main objective of the study was to assess the financial management processes and performance in public sector. The study adopted the descriptive cross-sectional approach which involved the use of questionnaires to gather data from the respondents. The respondents consisted of the directors, budget officers, planners, finance officers, revenue collectors, the internal auditors and staff of Accra Metropolitan Assembly (A.M.A) and Assembly members. Samples of one hundred and twenty (120) respondents were selected for the study using the purposive sampling method. The findings of the study revealed that the assembly has adequate sources of revenue and makes use of both internally and externally generated funds to meet the financial obligations of the assembly. Also, the stable sources of revenue of the assembly includes; basic rate, property rate, special rate and rate payable by public corporation and organization owning properties in the area of jurisdiction of the district assembly, revenue generated from land through concessions and royalties, fees and fines, revenue generated from issuing licenses, rent from market stores, assembly property, bill boards, advertise areas, etc., investment income and also miscellaneous income. The effective and efficient financial management practices of the Metropolitan, Municipal and District Assemblies (MMDAs) which includes; strategic planning and preparation of the budget, resource management, auditing, accounting processes and reporting for expenditure and performance, etc. Thus, the study recommended that financial management training should be organised for revenue collectors, budget officers and the management of the MMDAs to help them keep up with new developments in the budgeting of government projects and programmes, to help minimize cost and maximize the revenue.

Full Text: PDF

Copyright © 2014: The Brooklyn Research and Publishing Institute. All Rights Reserved.
Brooklyn, NY 11210, United States