Accounting and Financial Management in Local Councils: Training Module

From the year 2012, Local Councils will be managing their own budgets, and the staffs working in council secretariats require training on local finance and accounting. The training module " Accounting and Financial Management in Local Councils" is compiled on request from CSTI (Civil Service Training Institute) and is in the final reviewing stage. It is intended to complete the module by mid-October and conduct its first training program on the last week of the month. The Module is based on illustrations and instructions for application by account officers in their day-to-day duties processing accounting information for decision making at various levels in Local Councils and related Institutions. Procedures covered in the module are related to budgeting, collecting revenue, expenditure, recording, summarizing, and preparing financial statements and reports. All instructions will be in accord with Public Finance Law 3/2006 and Law on Decentralized Administrations in Maldives 7/2010.

Training Materials consist of PowerPoint presentation (brief), Tutorial Text, and Working Papers. The contents of the module are developed for two levels of training;

• Level 1 - introductory level - duration 26 hours with 20% practical works.
• Level 2 - working level - duration 40 hours with 50% practical works.

The Module consists as below;

Accounting and Financial Management in Local Councils

Contents

1. Fiscal Responsibilities

1.1 Public Finance Law 3/2006

1.2 Law on Decentralized Administrations in Maldives 7/2010

2. Local Public Finance

2.1 Legal framework on Local Public Finance

2.2 Technical Approach to Local Public Finance

3. Accounting and Finance Management in Fiscal Decentralization

3.1 Revenue and Income

3.2 Local Budgeting

3.3 Public Expenditure

3.4 Asset Management

3.5 Fund Accounts

3.6 Debt Management

3.7 Payroll

3.8 Financial Statements and Reporting