Strategic Financial Management Of The Defence Budget
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Strategic Financial Management Of The Defence Budget
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Author : Great Britain: National Audit Office
language : en
Publisher: The Stationery Office
Release Date : 2010-07-21
Strategic Financial Management Of The Defence Budget written by Great Britain: National Audit Office and has been published by The Stationery Office this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-07-21 with Technology & Engineering categories.
The Ministry of Defence does not place sufficient emphasis on financial management in its decision making and the finance function at the MOD does not have as central role in strategic planning as it should have. Annual financial plans at the MOD have been over-committed. By the end of July 2009, the budget for the Department was exceeded by its forecast for the rest of that year by £700 million. When the assumptions underlying the plan for 2010-11 were reassessed, the forecast deficit grew from £185 million to over £500 million. The Department should make choices in setting its budgets and priorities and could use financial management more effectively to address those factors which are within its control. The shortfalls in financial management have significant consequences. The over-commitment in future spending plans has led to additional savings being necessary. During 2009-10, the Department had to find additional savings of £800 million to bring its planned expenditure back into line with its budgets. Finding these reductions mid-year is a time-consuming and destabilising exercise. Many areas have to revisit or adjust their plans leading to delays, material changes to project specifications and costly renegotiation of contracts with industry. Delaying projects also leads to significant increases in the project cost. The forthcoming Strategic Defence and Security Review will provide an opportunity for the Department to rebalance its future spending plans in the short term. Over the longer term, however, the challenge for the MOD will be to ensure that these plans remain in balance.
Ministry Of Defence
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Author : Great Britain. National Audit Office
language : en
Publisher:
Release Date : 2010
Ministry Of Defence written by Great Britain. National Audit Office and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Great Britain categories.
Hc 391 Incorporating Hc 392 Strategic Financial Management Of The Ministry Of Defence And Military Flying Training
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Author : Great Britain. Parliament. House of Commons. Committee of Public Accounts
language : en
Publisher: The Stationery Office
Release Date : 2015
Hc 391 Incorporating Hc 392 Strategic Financial Management Of The Ministry Of Defence And Military Flying Training written by Great Britain. Parliament. House of Commons. Committee of Public Accounts and has been published by The Stationery Office this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with History categories.
The Department has addressed the £38 billion funding gap that emerged prior to 2010 between the funding it expected and the forecast cost of Defence over the following ten years. It has also cut its costs to live within a reduced budget. However, this has been achieved not just by delivering financial savings, but also by deferring some costs into future years, at the risk that these costs could increase because of the delay. The stability of the Department's financial position depends on the accuracy of a large number of assumptions it has to make, many of which have proved over-optimistic in the past, and its ability to: control its costs, achieve the significant savings anticipated in the equipment and infrastructure budgets, and manage the cost of the Department's portfolio of nuclear-related programmes.
Budgeting And Financial Management For National Defense
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Author : Jerry L. McCaffery
language : en
Publisher: IAP
Release Date : 2004-02-01
Budgeting And Financial Management For National Defense written by Jerry L. McCaffery and has been published by IAP this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-02-01 with Technology & Engineering categories.
Most of the literature on public sector budgeting ignores defense budgeting, even though aircraft, ships, tanks, smart weaponry, skilled crews, electronically boosted infantry, and other facets of national defense represent a large part of the federal government's discretionary spending. The budget
National Defense Budgeting And Financial Management
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Author : Philip J. Candreva
language : en
Publisher: IAP
Release Date : 2017-05-01
National Defense Budgeting And Financial Management written by Philip J. Candreva and has been published by IAP this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-05-01 with Business & Economics categories.
The U.S. Department of Defense accounts for over half of federal government discretionary spending and over 3% of GDP. Half of all federal employees work for the Department. The annual budget for the military not only provides for those salaries, it covers the baseline and wartime operating expenses of the force, and hundreds of billions of dollars of investment in new capabilities and technologies. Given the materiality of the defense function and amount of resources it consumes, the processes for budgeting for defense and managing the funds is important to understand. This text provides a fully integrated view of defense budgeting. It takes the position that defense budgeting is a specific instance of public budgeting, and public budgeting is a specific instance of public policy. In order to fully understand how the nation budgets for defense, it first lays a theoretical and conceptual foundation for public policy and public budgeting. That is followed by an assessment of the political and policy context for defense, including the overarching federal budget process and role of Congress in setting defense policy. Only then does the text explore the specifics of defense budgeting: how, by whom, and why the budget is crafted. Beyond the topic of budgeting – formulating, requesting, and legitimating the request for funds – the book tackles financial management topics. Included are discussions of federal appropriations law, funds management, accounting requirements, intragovernmental business transactions, and contemporary topics of defense policy such as funding overseas contingency operations in an era of deficit control legislation. This book is an appropriate reference for both students and practitioners of defense budgeting and financial management. It would also be appropriate in a general public budgeting course. Most public budgeting texts focus on state and municipal governments and there are few that address the federal system. This book fills that gap and provides a specific example of federal budgeting.
National Defense Budgeting And Financial Management
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Author : Philip J. Candreva
language : en
Publisher: IAP
Release Date : 2024-01-01
National Defense Budgeting And Financial Management written by Philip J. Candreva and has been published by IAP this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-01-01 with Business & Economics categories.
Budgeting for national defense is a complex endeavor, particularly for a nation like the U.S. that assumes global responsibility and strives to have the most advanced and lethal force on earth. It is necessary – and challenging – to balance the myriad requirements between current and future readiness, across warfare areas and military services, between having state of the art capability with sufficient capacity, and among people, hardware, and the activities people do with that hardware. As analytically difficult as that problem is, it is embedded in the political budgeting processes and national security must be balanced with every other function of government and there must also be cooperation across branches of government. This text explores that complex endeavor. It takes the position that budgeting for defense is a particular instance of public budgeting which is a particular instance of public policy. Thus, this text starts with a conceptual, empirical, and process foundation before discussing the participants and processes that build the annual defense budget. It then covers the execution of that budget and the ultimate accounting. Compared to the first edition, this text is updated with current figures and examples. There is a new chapter on determinants of military spending in society and burden sharing within alliances. The chapter on budget execution has been disaggregated and a new chapter is devoted to fiscal law. The final chapter seeks to integrate all that came before it by discussing matters that integrate the stages of budgeting and which cross branches of government. Following in the tradition of the first edition, this is intended to be both a textbook for a course in budgeting, but also a desktop reference for defense budgeting practitioners.
Budgeting Financial Management And Acquisition Reform In The U S Department Of Defense
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Author : Lawrence R. Jones
language : en
Publisher: IAP
Release Date : 2008-03-01
Budgeting Financial Management And Acquisition Reform In The U S Department Of Defense written by Lawrence R. Jones and has been published by IAP this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-03-01 with Technology & Engineering categories.
In this book we introduce the basics of the federal budget process, provide an historical background on the foundation and development of the budget process, indicate how defense spending may be measured and how it impacts the economy, describe and analyze how Planning, Programming, Budgeting, and Execution System (PPBES) operates and should function to produce the annual defense budget proposal to Congress, analyze the role of Congress in debating and deciding on defense appropriations and the politics of the budgetary process including the use of supplemental appropriations to fund national defense, analyze budget execution dynamics, identify the principal participants in the defense budget process in the Pentagon and military commands, assess federal and Department of Defense (DoD) financial management and business process challenges and issues, and describe the processes used to resource acquisition of defense war fighting assets, including reforms in acquisition and linkages between PPBES and the defense acquisition process.
Managing The Defence Budget And Estate
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Author : Great Britain: Parliament: House of Commons: Committee of Public Accounts
language : en
Publisher: The Stationery Office
Release Date : 2010-12-14
Managing The Defence Budget And Estate written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and has been published by The Stationery Office this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-12-14 with Technology & Engineering categories.
The Ministry of Defence (the Department) is responsible for over £42 billion of annual expenditure. It has failed to exercise the robust financial management necessary to control its resources effectively in the long term, and there is a shortfall in planned expenditure against likely funding of up to £36 billion over the next ten years. The Department's consistent pattern of planned overspend demonstrates serious organisational failings and a dangerous culture of optimism. There are systemic failings: a tendency towards financial over-commitment, weaknesses in the financial planning processes and a division in responsibilities and accountability for financial stewardship. The Accounting Officer has not discharged his responsibility to ensure that expenditure represents value for money, and there is no explicit financial strategy linking funding to priorities. When financial savings have to be found there is then no clear basis for determining where cuts should be made. The appointment of a professionally qualified Finance Director is welcomed. The defence estate is valued at over £20 billion, and costs an estimated £2.9 billion per year to run. The built estate in the UK has been reduced by 4.3% between 1998 and 2008, achieving £3.4 billion in sale receipts. But more of the estate should have been released. The Department does not assess its estate against clear objective criteria. The Department does not collect centrally the information and data that would allow it to manage its estate in an effective way. It appears to lack urgency in its plans to improve its information base.
Budgeting For The Military Sector In Africa
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Author : Wuyi Omitoogun
language : en
Publisher:
Release Date : 2006
Budgeting For The Military Sector In Africa written by Wuyi Omitoogun and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Business & Economics categories.
In this comprehensive study, 15 African experts describe and analyse the military budgetary processes and degree of parliamentary oversight and control in nine countries of Africa, spanning across all the continent's sub-regions. Each case study addresses a wide range of questions, such as the roles of the ministries of finance, budget offices, audit departments and external actors in the military budgetary processes, the extent of compliance with standard public expenditure management procedures, and how well official military expenditure figures reflect the true economic resources devoted to military activities in these countries.
Strategic Financial Management In The Ministry Of Defence
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Author :
language : en
Publisher:
Release Date : 2015
Strategic Financial Management In The Ministry Of Defence written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.