Financial Management in Public Administration Sector Solution

Financial Management in Public Administration Sector

Order ID	53563633773
Type	Essay
Writer Level	Masters
Style	APA
Sources/References	4
Perfect Number of Pages to Order	5-10 Pages

Description/Paper Instructions

Financial Management in Public Administration Sector

Financial management is paramount in public administration. Misappropriation of funds or poor tracking of funds can lead to a cascade of issues and

scrutiny from the public. As stated in Proverbs 13:11 “Dishonest money dwindles away, but whoever gathers money little by little makes it grow” (NIV). This

passage from proverbs holds true in the concept that at times, individuals in power misappropriate government funds and get caught up in financial scandals.

Whether the public funds are being used for personal gain or to aid political agendas, misappropriation of public funds is criminal and by no means in line with

the statesmanship model. “The funds you manage as a public administrator are not the government’s money. It is not yours either.

The money is the public’s; the taxpayer” (Liberty, 2020, p.4). Financial management practices are always the main topics of conversation amongst the public.

Adhering to the statesmanship model, a government’s best practices should include a checks and balance system and full transparency to the public in which

they serve.

“The greater demand for transparency, accountability, and efficiency forces governments all over the world to adopt new accounting, auditing, and budgeting

techniques and to improve the scrutiny and timeliness of their reporting” (Marti & Kasperskaya, 2015, p.165).

Having full participation from individuals within the agency and input from stakeholders is a strong start to face challenges for a would-be statesman dealing

with financial management in public administration. Practicing participatory budgeting allows stakeholders participation in the preparation of a public budget

and at the same time addresses budget dysfunction (Smith & Bempah, 2017).

Allowing full transparency when any public funds are involved is the best practice to avoid any type of misconduct allegations. In 1998, the World Bank

provided a list of items for assessing the best public budget practices. Items on that list included: evidence-based planning and budgeting, an equitable

resource allocation criteria, transparent plans and budgets, effective spending control, efficient cash management and accountability for expenditure (Smith &

Bempah, 2017).

All of the items on the list provided by the World Bank follow the art of statecraft, showing transparency when dealing with public funds to those who you

dedicated your life to serving. A misappropriation of funds or poor financial management may lead to hardship for future generations.

“Higher levels of debt may represent a burden of future interest costs and principal repayments that would reduce a governmental agency’s ability to meet

demand for services and thus increase the fiscal pressure on future generations of taxpayers” (Alcaide Munoz, Rodriguez Bolivar, & Lopez Hernandez, 2017,

p.555).

Best practices for a Christian statesman when diluted to their simplest terms are not that complicated, do the right things even when no one is looking. A

Christian public administration is a servant to the public and practices selfless serve. Doing what is best for the public with public funding despite personal

opinion is how a statesman would succeed in the financial management of public funds. Proverbs 21:3 “To do what is right and just is more acceptable to the

Lord than sacrifice” (NIV).

References:

Alcaide Munoz, L., Rodriguez Bolivar, M. P., & Lopez Hernandez, A. M. (2017). Transparency in Government: A Meta-Analytic Review of Incentives for Digital

Versus Hard-Copy Public Financial Disclosures. American Review of Public Administration, 47(5), 550–573. doi: 10.1177/0275074016629008

Liberty University (2020) Budgeting Theories in Public Organizations. retrieved from     https://learn.liberty.edu/bbcswebdav/pid-36372703-dt-content-rid-

439928258_1/courses/PADM610_B02_202020/PADM610_LUO_8WK_MASTER_Imp ortedContent_20180723025359/Presentations/Module%206/html5.html

Marti, C., & Kasperskaya, Y. (2015). Public Financial Management Systems and Countries’ Governance: A Cross Country Study. Public Administration and

Development, 35, 165–178. doi: 10.1002/pad.1711

Smith, B., & Bempah, O. (2017). Determinants of sound budgeting and financial management practices at the  decentralised level of public administration.

OECD Journal on Budgeting, 16(2), 109-128. doi:http://dx.doi.org.ezproxy.liberty.edu/10.1787/budget-16-5jg19mnf3vr1

Financial Management in Public Administration Sector

RUBRIC QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points:  Student failed to submit the final paper. 20 points out of 50:  The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50:  The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately.  Elements of the required response may also be lacking. 40 points out of 50:  The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples.  The answer is complete. 50 points:  The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples.  No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points:  Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points:  Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points:  References to scholarly sources are occasionally given; many statements seem unsubstantiated.  Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points:  Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented.  APA 6th Edition is used with only a few minor errors.  There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points:  Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented.  APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points:  Student failed to submit the final paper. 5 points out of 20:  The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors  10 points out 20:  The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20:  The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points:  The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points:  Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements.  The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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