PEFA | Improving public financial management Question

Read the text and then assign scores to the PEFA indicators in the table provided. Use simplified scores of A—very good, B—satisfactory, and D—not satisfactory and only enter scores for indicators on which the text provides information. “Actual revenue and expenditure are very close to forecasted revenue and expenditure, but there are major differences in the composition of expenditures between planned and actual figures. Budget documentation is considered satisfactory but could be improved by a better elaboration of the underlying fiscal strategy. Fiscal risk reporting is very rudimentary, and the operations of the pension fund are not included in the budget. Expenditure arrears have been fully eliminated due to a strong monitoring system. Controls on payroll and non-salary expenditures are strong. A medium-term budget framework (MTBF) exists, but it is prepared in parallel to the annual budget and differences between the first year of the MTBF and the annual budget are common. Public investment management has been strengthened in recent years but could be improved further. A number of significant weaknesses exist in procurement—most notably the fact that the majority of contracts are not awarded using a competitive process. Annual financial reports are comprehensive and reliable, while the frequency of in-year reporting could be improved. The work of the Auditor General is of high quality, but the reports are not submitted to the legislature and executive follow-up on recommendations is very limited.” Number Indicator Score PI-1 Aggregate expenditure outturn PI-2 Expenditure composition outturn PI-3 Revenue outturn PI-4 Budget classification PI-5 Budget documentation PI-6 Central government reporting outside financial reports PI-7 Transfers to subnational governments PI-8 Performance information for service delivery PI-9 Public access to fiscal information PI-10 Fiscal risk reporting PI-11 Public investment management PI-12 Public asset management PI-13 Debt management PI-14 Macroeconomic and fiscal forecasting PI-15 Fiscal strategy PI-16 Medium-term perspective in expenditure budgeting PI-17 Budget preparation process PI-18 Legislative scrutiny of budget PI-19 Revenue administration PI-20 Accounting for revenue PI-21 Predictability of in-year resource allocation PI-22 Expenditure arrears PI-23 Payroll controls PI-24 Procurement PI-25 Internal controls on non-salary expenditure PI-26 Internal audit PI-27 Financial data integrity PI-28 In-year budget reports PI-29 Annual financial reports PI-30 External audit PI-31 Legislative scrutiny of audit reports

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