The sources of revenue, budget preparation, expenditure control, and financial reporting in local administration.
Government budgeting: To understand the budgeting process, budget cycle, budget formulation, budget execution, budget evaluation, and budget implementation.
Public finance management: To understand the concepts of taxation, public expenditure, revenue generation, and how they impact the local administration.
Financial statements: To learn how to read, interpret, and analyze financial statements such as balance sheets, income statements, and cash flow statements.
Accounting principles: To get a good grip on accounting principles such as double-entry bookkeeping, ledger accounts, trial balance, and financial reporting.
Local government funding: To understand the different sources of funding available to local governments, such as grants, loans, and other financing mechanisms.
Public-private partnerships: To learn how public and private sectors can work together to finance and manage infrastructure projects.
Cash management: To learn how to manage cash flow, prepare cash flow statements and projections, and identify cash management issues.
Financial planning: To learn how to develop financial plans, set financial goals, and create financial reports that help track progress.
Budgeting tools: To learn how to use budgeting tools such as spreadsheets, budgeting software, and other financial management tools.
Procurement and contract management: To learn how to negotiate contracts, manage procurement processes, and protect the interests of the local government in procurement agreements.
Risk management: To learn how to identify and manage financial risks, such as market risks, credit risks, and operational risks.
Compliance and laws: To learn about the legal framework that governs local government finance and how to comply with laws and regulations.
Performance management: To learn how to measure and improve financial performance using performance management systems, performance indicators, and other tools.
Debt management: To understand the different types of debt and how to manage debt effectively, including issuing bonds, managing repayments, and understanding the impact of debt on the local government.
Asset management: To learn how to manage assets, such as infrastructure assets, inventory, and land, and how to account for their value and depreciation.
Financial analysis: To learn how to analyze financial data, interpret results, and use financial analysis to make better decisions.
Financial reporting: To learn how to prepare financial reports, including annual reports, budget performance reports, and other critical financial documents.
Financial regulations and standards: To stay up to date on changing financial regulations, standards and best practices, and ensure that local administration complies with standard financial practices.
Leadership and management skills: To develop leadership and management skills that enable effective decision-making, communication, and teamwork among finance and budgeting teams.
Data analysis and management: To learn how to organize, analyze and effectively communicate budget and financial data, using data visualization and dashboard tools.
Property Taxes: A tax levied on real property such as land, buildings, and other improvements.
Sales Taxes: A tax levied on the sale of goods and services in a particular area.
Income Taxes: A tax levied on the income earned by individuals and businesses.
Grants: Funds provided by a government agency or private organization to support specific projects or activities.
Bonds: A financial instrument issued by a local government to raise funds for specific capital projects.
Fees and Charges: Fees and charges for services rendered by the local government such as parking fees, utility fees, and building permit fees.
Transfers: Funds transferred from other levels of government to support local projects and activities.
Reserves and Surpluses: Funds accumulated by a local government for use in future projects or to cover unexpected expenses.
Debt: Funds borrowed by a local government to finance capital projects that will be paid back over time.
Budgets: A plan of how a local government will allocate its resources and funds for specific activities and services.