Develop guidelines for a developing/emerging country (like Kenya) Public Financial sector Essay

Develop guidelines for a developing/emerging country (like Kenya) Public Financial sector

Details of task:
The task is to develop a set of guidelines to deal with a financial management problem. The primary objective of the (fictitious) Unity and Prosperity Development Bank (UPDB) is to assist in the development of its member developing / emerging countries. The bank has approached your consulting firm as renowned experts in public sector financial management) to develop a set of practical guidelines intended for use as a non-mandatory reference tool by member countries seeking to improve their public sector financial management performance.

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The terms of reference for this task require an overall public sector financial management framework that is consistent with (but not necessarily limited to) the principles of:

1. Long term benefit of proper financial management in the public sector;

2. Community-wide focus in financial management in public sector;

3. Performance basis with measurable outcomes for financial managers in public sector;

4. The need for strong governance and accountability mechanisms in financial management of public sector

5. The key challenges facing emerging nations like Kenya in managing public finances;

6. Fragmented service provision in the public sector (Fragmentation refers to the existence of a large number of separate funding mechanisms);

7. Lack of public sector performance culture;

8. Narrow revenue bases and lack of tax collection systems;

9. Lack of resources for provision of essential infrastructure by governments of emerging nations like Kenya; and 10. Need for unsophisticated budgeting and reporting systems in the public sector

The UPDB has requested that the guidelines be presented in a report format, with special consideration to be given to: (i) The need for the advice to be meaningful in a wide range of member country circumstances (look at Kenyan issues and widen the scope to other similar countries); (ii) Explaining and prioritizing recommended measures so as to provide an achievable ‘roadmap’ for reform

Limit:
Each group (maximum 10 groups equally distributed as much as possible including gender distribution) will pick one of the items above (1-10), develop guidelines on the area identified and present a hard copy maximum 3 Pages (Strictly handwritten) for marking.

Presentation requirements:
The assignment should be in the form of a report (rather than an essay) and may make use of numbering, dot points, graphical or table information etc. It must include a list of sources consulted, referenced is a must Due date:

To be completed on Tuesday the 15th October and handed in on Tuesday 22nd October