Corporate Finance, DeFi, Blockchain, Web3 News
Corporate Finance, DeFi, Blockchain News

Lack of awareness around effective budgeting and forecasting in the public sector remains common

By Dean Dickinson, Managing Director, Advanced Business Solutio

Dean Dickinson
Dean Dickinson
New research carried out among public sector finance directors has revealed worrying truths about fund management and administration, with widespread inefficiencies identified in budgeting and reporting processes.

More than 300 senior finance professionals took part in the poll, which we commissioned recently. The poll gauged how police, fire and ambulance authorities, as well as NHS trusts, local authorities, further education establishments and universities, have responded strategically to funding pressures from central government.

The study which we conducted with iGov Survey, saw almost half (42%) of respondents say they still rely on Excel spreadsheets for budget preparation, monitoring and forecasting. The research also revealed 49% of respondents spent between three and six months a year on budgeting activity, with 13% spending between six to nine months on the process.


Lisez la suite dans finyear magazine d'octobre 2013

Mardi 12 Novembre 2013