Public Finance Budgetary Control
Wednesday, 16 – Thursday, 17 August 2023 | 10:30 AM – 2:30 PM AEST | Online
Maximising ﬁnancial resources through responsible budgeting
Welcome to the Public Finance and Budgetary Control Training Session for Australian Government Employees! This training provides government employees involved in budget preparation, execution, monitoring, or reporting with a comprehensive understanding of budgetary control principles, concepts, and techniques in public finance. You will delve into budget formulation, review, and approval, budget monitoring and reporting, and how budgetary control applies to public service delivery to ensure that public funds are utilised efficiently, effectively, and equitably to meet the needs of citizens and achieve the goals of government and establish the effect of budgetary control on financial performance.
Led by an experienced trainer with expertise in public finance and budgetary control, this training empowers attendees with skills and knowledge to excel in managing budgets, monitoring performance, and achieving financial accountability. By the end of the training, attendees will be equipped to navigate the budgetary control process and contribute to the financial management capability of the Australian government.
Get ready to unlock the key principles of budgetary control and enhance your understanding of public finance management. Let’s embark on this learning journey together to drive fiscal responsibility and maximise the use of public funds for the betterment of the Australian government and its constituents.
Who Should Attend
This course is designed for:
Financial Managers and Analysts
Budget Officers, Analysts, Coordinators and Administrators
Government Accountants and Auditors
Gain understanding about budgetary control principles and concepts in public finance, including budget formulation, review, approval, monitoring, and reporting
Acquire practical skills in budget control, including budget development, financial performance analysis, and identifying and mitigating risks
Enhance decision-making skills by using budgetary control techniques to assess budget proposals, prioritise spending, and align budget priorities with organisational goals
Create a proactive approach to budgetary control by monitoring financial data, identifying variances, and implementing corrective actions to optimise public funds usage and ensure financial accountability
Meet Your Facilitator
Founder, Director, and Senior Consultant
Michael Palmer Consulting
Mike Palmer is a business coach, strategist, mentor, and consultant, specializing in business financial management and financial control. Mike has over 40 years’ experience in transforming agribusinesses, large and small businesses, and Federal, NSW, and Queensland Government funded projects. He is and has been a director of several companies, is an Advisory Board member, and has traded as a sole trader, in partnerships, and now in a discretionary trust. Mike’s focus is on planning, strategy, corporate structuring, financial management and control.
He has a keen talent for taking a “helicopter view’ or “strategic view” of an enterprise, which talent has been recognized by client companies’ senior management, and two Queen’s Counsel who were clients as well.
Mike works with clients to introduce financial systems and policies which can ease the burden of financial management and minimise this stress or anxiety. His experience includes agribusiness, manufacturing, exporting, real estate and service businesses. He has also been contracted to implement state and federal government initiatives. He is a qualified Agricultural Scientist and has a Graduate Diploma in Financial Management.
Introduction to Public Finance Control
- Introduction to Public Finance Control
- Government, Public Service, and Industry statistics
- Why bother and who cares?
- Semantics: budgets, projections, forecasts
- Continuing self-development program – a different
Understanding the Budgetary Process
- Understanding the Budgetary Process
- Budget objectives and target
- Principles of budgetary control
- Budget preparation and approval
- Budget execution and monitoring
- Budget evaluation and audit
- Reflections and Closing Remarks
Budgetary Control Systems
- Budgetary Control Systems
- Overview of budgetary control systems
- Types of budgetary control systems
- For and against different systems
- What to consider when choosing a system
- Taking the organisation from HERE to THERE
- Budgetary control systems
- Setting KPIs
- Setting standards
- Action plan
- Systems Implementation
- Communicating the budget and principles behind it
- Developing the team by training
- Reporting progress
- Key learnings for the day
- Key learnings for the overall training
- What are your takeaways?