Budgetary & Financial Management

This sub-indicator assesses the extent to which there is: (i) a comprehensive and credible budget, linked to policy priorities, which in turn are linked to a poverty reduction strategy, (ii) effective financial management systems to ensure that incurred expenditures are consistent with the approved budget, that budgeted revenues are achieved, and that aggregate fiscal control is maintained, (iii) timely and accurate fiscal reporting, including timely and audited public accounts and effective arrangements for follow up and (iv) clear and balanced assignment of expenditures and revenues to each level of government.