Govt finance depts struggle to meet demands

Governments around the world are severely constrained in finance, according
to the latest
study, Mastering Finance in Government: Transforming the Government Enterprise
Through Better Financial Management, one of the biggest global surveys ever
conducted of government finance officials.

‘Despite progress in streamlining transactional efficiency over the past
decade, 48% of the public officials surveyed believe that their organisations
lack adequate financial management capabilities,’ the report says.

The survey shows government finance officials must cross a number of
significant, but achievable, hurdles to reach a level which would satisfy their
place at the executive-decision making table.

‘Governments often relegate the finance function to back room tasks such as
paying bills, tracking money and generating standard reports,’ said Greg
Pellegrino, Deloitte Touche Tohmatsu managing director, global public sector.
‘However, many government finance units fail to perform even these basic
scorekeeping tasks. Raising the level of finance capabilities is vital to
ensuring effective and efficient government.’

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