Advanced Public Sector Financial Management London Business Training & Consulting

This course will provide the knowledge and tools to understand the financial management of resources in the public sector. It also provides an understanding of the concepts and strategy relating to the effective management of public sector finances. You will learn:

• the fundamentals of managing funds in the public interest.
• that budgetary control provides a formal basis for achieving specific plans.
• Project financial management is the methodology of managing resources effectively to achieve a project's objectives.
• that Strategic financial planning assists organizations to achieve value for money.
• that Financial management is the process of using funds effectively, efficiently and transparently by a combination of procedures, methods, rules of conduct and standards.
• the key challenges in the financial management of the public sector.

The course will wrap with a summary of the key learning points, followed by an action planning exercise with a view to apply the acquired knowledge and skills immediately upon your return to work. Post-course support is also available in relation to the implementation of your action plan, up to six (6) months following course completion.

Agenda

Managing Public Money

• Key requirements and concepts
• Fiscal and spending framework
• The virtuous financial management cycle
• Annual report

Public Sector Finance – Budgetary Control

• Objectives of budgeting
• Types of budgets
• Cost definitions and behaviour
• Budgetary control

Financial Management of Public Projects

• Building a case for a project
• Investment appraisal techniques
• Financing a project
• Phases of managing a project

Building Public Trust in Corporate Reporting

• What are users looking for?
• The key areas of reporting
• Fact checking

Public Sector Finance Strategy

• Linking organizational strategy to financial strategy
• Interaction between short-term and long-term strategy
• Stakeholder analysis
• Corporate governance

Public Sector Financial Management

• Effective financial management
• Regulatory framework for financial accounting
• Assessing financial performance
• The role of treasury management

Challenges in Public Sector Financial Management

• Improving financial management
• Pressures on public finances
• Cost reduction
• Allocating resources

Putting Finance at the heart of Decision-Making

• The structure of financial leadership
• Enablers of improvement in financial information
• A model – The UK Financial Management Reform Programme

Course Review

• Summary and recap of key learning objectives
• Action Planning

Target Audience

This course is suitable for:

• New entrants to the public sector.
• Staff with some practical experience but with no financial qualifications.
• Non-financial staff in the public sector who need to understand the basics of financial management.

Learning Outcomes

Upon completion of this course, you will understand:

• Understand the basics of public financial management.
• Analyse the strengths and weaknesses of budget methodologies.
• How public sector organizations are accountable to their stakeholders.
• Why it is more important to show how well public money has been spent rather than just how it is spent.
• Implement an Action Plan at your workplace using the knowledge and skills acquired through the course.