Lec 4 Government Accounting (2) PDF

# The Stages of Preparing the State's General Budget in Egypt ## Circle of Preparing the State's General Budget ### 1. Preparing Stage - First: Setting the general policies and objectives The State's general budget sector at MOF prepare its proposal and recommendation, which should control the dra...

# The Stages of Preparing the State's General Budget in Egypt ## Circle of Preparing the State's General Budget ### 1. Preparing Stage - First: Setting the general policies and objectives The State's general budget sector at MOF prepare its proposal and recommendation, which should control the draft budget for the next fiscal year. - Second: Issuance of budget circular - Third: The issuance of draft budgets - Fourth: Preparation of the draft budget at the state level ### 2. Ratification of State's General Budget ### 3. Implementation Stage ### 4. The final accounts stage (the actual implementation outcomes) The image shows a timeline of the budget process over the fiscal year. - **September/October**: The Ministry of Finance (MOF) issues a budget circular. - **October - December**: Ministries submit estimated budgets to MOF. - **December - March**: The Executive submits its budget proposal to the legislature. - **July:** The fiscal year begins. - **June:** Books are closed and final accounts are sent to the Central Audit Agency. - **October - December:** The audit report is submitted to the legislature. ## Efficient Entities in the State's General Budget ### Ministry of Finance - The preparation of the draft general budget and presented to parliament to issue the budget laws. - The preparation of the final accounts laws. - Issuing quarterly reports to follow up on the financial performance. ### The Ministry of Planning - It prepares the investment draft budget for state entities in coordination with the Ministry of Finance in preparation for the issuance of original budget laws. ## Other Entities ### Parliament - Ratification of the draft general budget and make adjustments on the appropriations of some entities. - The right to ratify the financial appropriations during the fiscal year. - Follow-up results of the implementation of the budget and approve the final accounts. ### CAA (central audit agency) - Examination and auditing of the financial results of the implementation of the budgets of various entities. - Preparation of accounting reports on the results of the implementation of the budgets. ## Citizen Participation - The Ministry of Finance relies on implementing The concept of participatory budgeting to raise awareness of the most important government plans and financial policies of the Ministry of Finance. - This makes the citizen a partner in the process of sustainable development and decision making through participation in preparing the budget at the local level, which enhances transparency and raises the level of citizen satisfaction.