Lec 4 Government Accounting (2) PDF

Summary

This document details the stages of preparing the state's general budget in Egypt, the roles of different entities like the Ministry of Finance and Ministry of Planning, and how citizens can participate in the process. It also covers the concept of participatory budgeting to enhance transparency and citizen satisfaction.

Full Transcript

# 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.

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