Ms Suzanne Myada, the Public Financial Management Specialist, USAID State2State activity in Adamawa, has presented the second 2023 budget profile and cash plan for the state.
Myada stated this at the end of three-day workshop for developing the 2023 budget profile and cash plan in Yola on Thursday.
She said the first one was in 2022 and its objectives were to ensure that expenditures are smoothly financed during the year, so as to minimise borrowing costs.
Myada said that this would also enable the initial budget policy targets, especially the surplus or deficit, to be met and to contribute to the smooth implementation of both fiscal and monetary policy.
According to her, Budget Profiling simply involves an analysis of the recurrent and capital budget of each MDA to determine their monthly funding requirements.
This would help each MDA to break down budget into specific times that funds are needed, so as to allow funds to be given and used at the right times, said the specialist.
Hajiya Maryam Dikko, State2State team lead in Adamawa, said that the exercise would enhance accountability, transparency and effectiveness for the citizens.
“It is also expected to improve cash planning and management in the State with improved and timely releases especially for MDAs in the public sectors of basic education, primary healthcare and Water, Sanitation and Hygiene (WASH),” she said.
Dikko said the Adamawa 2023 Budget Profile and Cash Plan are expected to be managed and implemented by the State Cash Management Committee and reviewed on a regular basis.
According to her, good cash planning and management helps to keep government within budgeted expenditure, prevents unanticipated borrowing and enables negotiations for more favourable loan conditions.
She appreciated the support and contribution of the participants who were from the Ministry of Finance, Planning Commission, office of the Accountant General, Board of Internal Revenue and Development Partners Coordination Office.
Dr Mary Paninga, the Chairman, Adamawa Planning Commission, appreciated the effort of USAID for providing technical assistance toward ensuring successful implementation of the budget in the state.
Paninga, who was represented by Mr Isa Mustapha, the Director Treasury, Office of the Accountant General, called on the participants to apply the knowledge acquired in to practice for successful implementation of the 2023 budget for effective service delivery.