The management of public funds, including budget, accounting, and audit.
Budgeting and Planning: The process of allocating resources to achieve specific objectives, and forecasting the financial requirements for future operations.
Accounting and Financial Reporting: The recording, classifying, and summarizing of financial transactions in accordance with generally accepted accounting principles, and generating reports that provide insight into the financial status and performance of an entity.
Revenue Generation: The process of identifying and implementing strategies to increase the income earned by an entity, such as increasing taxes or fees, implementing new revenue streams, or pursuing grant opportunities.
Debt Management: The process of managing the amount and structure of debt owed by an entity, including developing policies and procedures for borrowing, determining appropriate levels of debt, and monitoring interest rates and repayment schedules.
Risk Management: The process of identifying and managing potential risks to an entity, including financial risks such as loss of revenue or unexpected expenses, and developing strategies to mitigate those risks.
Financial Analysis and Modeling: The process of analyzing financial data to assess the financial health of an entity and using that data to develop financial models that provide insight into future operations and performance.
Internal Controls and Auditing: The process of establishing policies and procedures to ensure the accuracy and reliability of financial information, and conducting internal and external audits to review compliance with those policies and identify areas for improvement.
Ethics and Accountability: The principles and practices that promote transparency, fairness, and responsibility in financial management, including the development of ethical standards, the establishment of effective risk management practices, and the creation of mechanisms for accountability and oversight.