European Journals of Business Management

EFFECT OF PUBLIC FINANCIAL MANAGEMENT REFORMS IN THE EFFECTIVE MANAGEMENT OF PUBLIC FUNDS IN KENYA: A CASE STUDY OF THE NATIONAL TREASURY

Raphael Mbilika Kiilu
Jomo Kenyatta University of Agriculture and Technology
KENYA
Dr. Karanja Ngugi
Jomo Kenyatta University of Agriculture and Technology
KENYA

CITATION: Kiilu, M. R & Ngugi, K (2014). Effect of Public Financial Management Reforms in the Effective Management of Public Funds in Kenya: A Case Study of the National Treasury European Journal of Business Management, 2(1), 161-169.

ABSTRACT

Public sector was rampant with corruption and inefficiencies and therefore poor management of public fund; this therefore called for reforms in the public sector. PFM reforms introduced not just a different way of managing public services, but also the need for different financial management tools and techniques. Introduced initially in response to widespread public criticism of the public service, the overall ethos of the reforms is greater public sector efficiency and has two key tenets: allowing managers to manage and making managers accountable and therefore ensuring better management of public funds. The goal of financial management in government is to ensure that safeguard and use available funds and other scarce resources in the best interest of the people. This study sought to establish the effect of reforms in budgeting, enhanced revenue collection, revision of procurement laws, and IFMIS reform in the management of public funds in Kenya National Treasury. The study used descriptive research design. The study targeted employees in top managers, middle level managers and lower level managers. The study adopted a stratified random sampling approach to get a study sample of 30% from within each stratum. A semi-structured questionnaire was used to collect data. Pilot test was conducted to enhance the instrument validity and reliability. Data collected was analyzed through SPSS and Microsoft Excel and presented in tables and charts to summarize responses for further analysis and to facilitate comparison. The study also employed a regression model and correlation to study the relationship between factors. The study found that procurement reforms had the greatest effect on the effective public fund management followed by budgeting reforms, then mentoring adoption of IFMIS while tax revenue administration had the least effect to the effective public fund management. The study recommended that recommends that the government should work together with all the stakeholders in ensuring that the procurement laws are implemented and followed effectively. The study also recommends that the government should work with all the relevant ministries to ensure successful adoption of IFMIS.


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