Jamaica : Country Financial Accountability Assessment

The Bank conducts Country Financial Accountability Assessments (CFAA) in all borrower countries. The specific objectives of the CFAA are to review the key aspects of public financial management at the national level: a) flow of funds to government...

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Main Author:	World Bank
Format:	Country Financial Accountability Assessment
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	ACCOUNT ACCOUNTABILITY ACCOUNTING ACCOUNTING & REPORTING ACCOUNTING MANUALS ACCOUNTING PROCEDURES ACCRUAL ACCOUNTING ACTUAL COST ADMINISTRATIVE REFORM APPROPRIATIONS ASSET MANAGEMENT AUDITING AUDITS AUTHORITY AUTHORIZATION BANK ACCOUNTS BANK OF JAMAICA BORROWING BUDGET ESTIMATES BUDGET FORMULATION BUDGET IMPLEMENTATION BUDGET MONITORING BUDGET PROCESS BUDGETARY SUPPORT BUDGETING BUSINESS PROCESSES CAPITAL EXPENDITURES CAPITAL PROJECTS CASH FLOWS CASH MANAGEMENT CENTRAL GOVERNMENT CENTRALIZATION CHECKING COMMERCIAL BANKS CONSOLIDATED FINANCIAL STATEMENTS CONSTITUTION COST ACCOUNTING COST OF CAPITAL CUSTOMER SERVICE DEBT MANAGEMENT DEBT SERVICING DECISION MAKING EXECUTION EXECUTIVE AGENCIES EXPENDITURE PATTERNS EXPENDITURES FINANCIAL ACCOUNTABILITY FINANCIAL ADMINISTRATION FINANCIAL ANALYSIS FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT SYSTEMS FINANCIAL REPORTING FINANCIAL REPORTS FINANCIAL RESULTS FINANCIAL REVIEW FINANCIAL SECTOR FISCAL FISCAL POLICY FISCAL SITUATION FISCAL STANCE FISCAL YEAR GOVERNMENT ACCOUNTING GOVERNMENT AGENCIES GOVERNMENT COMPANY GOVERNMENT ENTITIES GOVERNMENT INTERVENTION GOVERNMENT RESOURCES HUMAN RESOURCE HUMAN RESOURCE MANAGEMENT HUMAN RESOURCES INSTITUTIONAL FRAMEWORK KEY PERFORMANCE INDICATORS LACK OF TRANSPARENCY LAWS LEGAL AUTHORITY LEGAL FRAMEWORK LEGISLATION LEVEL OF REPAYMENT MANAGERIAL AUTONOMY MINISTRY OF FINANCE NATIONAL BUDGET NATIONAL LEVEL PAYROLL PENSIONS PRIVATE SECTOR PROCEDURES PROCESS PROGRAM BUDGETING PROVISIONS PUBLIC DEBT PUBLIC ENTERPRISES PUBLIC EXPENDITURE PUBLIC FUNDS PUBLIC RESOURCES PUBLIC SECTOR PUBLIC SECTOR REFORM PUBLIC SERVICE PUBLIC SERVICES RATIONALIZATION RECURRENT EXPENDITURES REGULATORY FRAMEWORK REPORTING PROCEDURES REPORTING SYSTEMS REPRESENTATIVES REVENUE STRUCTURE OF GOVERNMENT TAX TRANSPARENCY TREASURY FINANCIAL ANALYSIS PUBLIC FINANCE COMPUTER SYSTEMS BUDGET ANALYSIS ACCOUNTING AUTOMATION
Online Access:	http://documents.worldbank.org/curated/en/2001/04/1121221/jamaica-country-financial-accountability-assessment-cfaa http://hdl.handle.net/10986/15674

id	okr-10986-15674
recordtype	oai_dc
spelling	okr-10986-156742021-04-23T14:03:13Z Jamaica : Country Financial Accountability Assessment World Bank ACCOUNT ACCOUNTABILITY ACCOUNTING ACCOUNTING ACCOUNTING & REPORTING ACCOUNTING MANUALS ACCOUNTING PROCEDURES ACCRUAL ACCOUNTING ACTUAL COST ADMINISTRATIVE REFORM APPROPRIATIONS ASSET MANAGEMENT AUDITING AUDITS AUTHORITY AUTHORIZATION BANK ACCOUNTS BANK OF JAMAICA BORROWING BUDGET ESTIMATES BUDGET FORMULATION BUDGET IMPLEMENTATION BUDGET MONITORING BUDGET PROCESS BUDGETARY SUPPORT BUDGETING BUSINESS PROCESSES CAPITAL EXPENDITURES CAPITAL PROJECTS CASH FLOWS CASH MANAGEMENT CENTRAL GOVERNMENT CENTRALIZATION CHECKING COMMERCIAL BANKS CONSOLIDATED FINANCIAL STATEMENTS CONSTITUTION COST ACCOUNTING COST OF CAPITAL CUSTOMER SERVICE DEBT MANAGEMENT DEBT SERVICING DECISION MAKING DECISION MAKING EXECUTION EXECUTIVE AGENCIES EXPENDITURE PATTERNS EXPENDITURES FINANCIAL ACCOUNTABILITY FINANCIAL ADMINISTRATION FINANCIAL ANALYSIS FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT SYSTEMS FINANCIAL REPORTING FINANCIAL REPORTS FINANCIAL RESULTS FINANCIAL REVIEW FINANCIAL SECTOR FISCAL FISCAL POLICY FISCAL SITUATION FISCAL STANCE FISCAL YEAR GOVERNMENT ACCOUNTING GOVERNMENT AGENCIES GOVERNMENT COMPANY GOVERNMENT ENTITIES GOVERNMENT INTERVENTION GOVERNMENT RESOURCES HUMAN RESOURCE HUMAN RESOURCE MANAGEMENT HUMAN RESOURCES INSTITUTIONAL FRAMEWORK KEY PERFORMANCE INDICATORS LACK OF TRANSPARENCY LAWS LEGAL AUTHORITY LEGAL FRAMEWORK LEGISLATION LEVEL OF REPAYMENT MANAGERIAL AUTONOMY MINISTRY OF FINANCE NATIONAL BUDGET NATIONAL LEVEL PAYROLL PENSIONS PRIVATE SECTOR PROCEDURES PROCESS PROGRAM BUDGETING PROVISIONS PUBLIC DEBT PUBLIC ENTERPRISES PUBLIC EXPENDITURE PUBLIC FUNDS PUBLIC RESOURCES PUBLIC SECTOR PUBLIC SECTOR REFORM PUBLIC SERVICE PUBLIC SERVICES RATIONALIZATION RECURRENT EXPENDITURES REGULATORY FRAMEWORK REPORTING PROCEDURES REPORTING SYSTEMS REPRESENTATIVES REVENUE STRUCTURE OF GOVERNMENT TAX TRANSPARENCY TREASURY FINANCIAL ANALYSIS CASH MANAGEMENT ACCOUNTING & REPORTING AUDITING PUBLIC FINANCE FINANCIAL REPORTS FINANCIAL MANAGEMENT COMPUTER SYSTEMS BUDGET ANALYSIS ACCOUNTING AUTOMATION BUDGET PROCESS The Bank conducts Country Financial Accountability Assessments (CFAA) in all borrower countries. The specific objectives of the CFAA are to review the key aspects of public financial management at the national level: a) flow of funds to government entities and Bank projects, including planning, cash management, and budgeting; b) accounting and financial reporting; and c) auditing of public sector activities. The Bank carried out field work for a CFAA in Jamaica in May 2000. This CFAA makes the following recommendations: 1) Inefficient in the government's planning process and its subsequent integration into the budget process result in an inefficient execution of the budget, monitored mainly by cash flows rather than outputs. 2) Current budget formulation formats need to be simplified in order to increase their usefulness and assure more accurate estimates. 3) The government's decentralized cash management arrangements should be tightened to allow for greater central control over the amount of outstanding cash balances. 4) The government accounting function is more advanced than many Caribbean countries. However, there are still aspects to be improved. 5) The government's detailed financial reports on the budget and public sector expenditures should be more timely and focus more on actual expenditures rather than only the budgeted amounts. 6) As of 2000, the hardware and software of the Financial Management Information System (FMIS) needs to be upgraded. 2013-09-05T18:42:48Z 2013-09-05T18:42:48Z 2001-04-25 http://documents.worldbank.org/curated/en/2001/04/1121221/jamaica-country-financial-accountability-assessment-cfaa http://hdl.handle.net/10986/15674 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Country Financial Accountability Assessment Economic & Sector Work Latin America & Caribbean Jamaica
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ACCOUNT ACCOUNTABILITY ACCOUNTING ACCOUNTING ACCOUNTING & REPORTING ACCOUNTING MANUALS ACCOUNTING PROCEDURES ACCRUAL ACCOUNTING ACTUAL COST ADMINISTRATIVE REFORM APPROPRIATIONS ASSET MANAGEMENT AUDITING AUDITS AUTHORITY AUTHORIZATION BANK ACCOUNTS BANK OF JAMAICA BORROWING BUDGET ESTIMATES BUDGET FORMULATION BUDGET IMPLEMENTATION BUDGET MONITORING BUDGET PROCESS BUDGETARY SUPPORT BUDGETING BUSINESS PROCESSES CAPITAL EXPENDITURES CAPITAL PROJECTS CASH FLOWS CASH MANAGEMENT CENTRAL GOVERNMENT CENTRALIZATION CHECKING COMMERCIAL BANKS CONSOLIDATED FINANCIAL STATEMENTS CONSTITUTION COST ACCOUNTING COST OF CAPITAL CUSTOMER SERVICE DEBT MANAGEMENT DEBT SERVICING DECISION MAKING DECISION MAKING EXECUTION EXECUTIVE AGENCIES EXPENDITURE PATTERNS EXPENDITURES FINANCIAL ACCOUNTABILITY FINANCIAL ADMINISTRATION FINANCIAL ANALYSIS FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT SYSTEMS FINANCIAL REPORTING FINANCIAL REPORTS FINANCIAL RESULTS FINANCIAL REVIEW FINANCIAL SECTOR FISCAL FISCAL POLICY FISCAL SITUATION FISCAL STANCE FISCAL YEAR GOVERNMENT ACCOUNTING GOVERNMENT AGENCIES GOVERNMENT COMPANY GOVERNMENT ENTITIES GOVERNMENT INTERVENTION GOVERNMENT RESOURCES HUMAN RESOURCE HUMAN RESOURCE MANAGEMENT HUMAN RESOURCES INSTITUTIONAL FRAMEWORK KEY PERFORMANCE INDICATORS LACK OF TRANSPARENCY LAWS LEGAL AUTHORITY LEGAL FRAMEWORK LEGISLATION LEVEL OF REPAYMENT MANAGERIAL AUTONOMY MINISTRY OF FINANCE NATIONAL BUDGET NATIONAL LEVEL PAYROLL PENSIONS PRIVATE SECTOR PROCEDURES PROCESS PROGRAM BUDGETING PROVISIONS PUBLIC DEBT PUBLIC ENTERPRISES PUBLIC EXPENDITURE PUBLIC FUNDS PUBLIC RESOURCES PUBLIC SECTOR PUBLIC SECTOR REFORM PUBLIC SERVICE PUBLIC SERVICES RATIONALIZATION RECURRENT EXPENDITURES REGULATORY FRAMEWORK REPORTING PROCEDURES REPORTING SYSTEMS REPRESENTATIVES REVENUE STRUCTURE OF GOVERNMENT TAX TRANSPARENCY TREASURY FINANCIAL ANALYSIS CASH MANAGEMENT ACCOUNTING & REPORTING AUDITING PUBLIC FINANCE FINANCIAL REPORTS FINANCIAL MANAGEMENT COMPUTER SYSTEMS BUDGET ANALYSIS ACCOUNTING AUTOMATION BUDGET PROCESS
spellingShingle	ACCOUNT ACCOUNTABILITY ACCOUNTING ACCOUNTING ACCOUNTING & REPORTING ACCOUNTING MANUALS ACCOUNTING PROCEDURES ACCRUAL ACCOUNTING ACTUAL COST ADMINISTRATIVE REFORM APPROPRIATIONS ASSET MANAGEMENT AUDITING AUDITS AUTHORITY AUTHORIZATION BANK ACCOUNTS BANK OF JAMAICA BORROWING BUDGET ESTIMATES BUDGET FORMULATION BUDGET IMPLEMENTATION BUDGET MONITORING BUDGET PROCESS BUDGETARY SUPPORT BUDGETING BUSINESS PROCESSES CAPITAL EXPENDITURES CAPITAL PROJECTS CASH FLOWS CASH MANAGEMENT CENTRAL GOVERNMENT CENTRALIZATION CHECKING COMMERCIAL BANKS CONSOLIDATED FINANCIAL STATEMENTS CONSTITUTION COST ACCOUNTING COST OF CAPITAL CUSTOMER SERVICE DEBT MANAGEMENT DEBT SERVICING DECISION MAKING DECISION MAKING EXECUTION EXECUTIVE AGENCIES EXPENDITURE PATTERNS EXPENDITURES FINANCIAL ACCOUNTABILITY FINANCIAL ADMINISTRATION FINANCIAL ANALYSIS FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT SYSTEMS FINANCIAL REPORTING FINANCIAL REPORTS FINANCIAL RESULTS FINANCIAL REVIEW FINANCIAL SECTOR FISCAL FISCAL POLICY FISCAL SITUATION FISCAL STANCE FISCAL YEAR GOVERNMENT ACCOUNTING GOVERNMENT AGENCIES GOVERNMENT COMPANY GOVERNMENT ENTITIES GOVERNMENT INTERVENTION GOVERNMENT RESOURCES HUMAN RESOURCE HUMAN RESOURCE MANAGEMENT HUMAN RESOURCES INSTITUTIONAL FRAMEWORK KEY PERFORMANCE INDICATORS LACK OF TRANSPARENCY LAWS LEGAL AUTHORITY LEGAL FRAMEWORK LEGISLATION LEVEL OF REPAYMENT MANAGERIAL AUTONOMY MINISTRY OF FINANCE NATIONAL BUDGET NATIONAL LEVEL PAYROLL PENSIONS PRIVATE SECTOR PROCEDURES PROCESS PROGRAM BUDGETING PROVISIONS PUBLIC DEBT PUBLIC ENTERPRISES PUBLIC EXPENDITURE PUBLIC FUNDS PUBLIC RESOURCES PUBLIC SECTOR PUBLIC SECTOR REFORM PUBLIC SERVICE PUBLIC SERVICES RATIONALIZATION RECURRENT EXPENDITURES REGULATORY FRAMEWORK REPORTING PROCEDURES REPORTING SYSTEMS REPRESENTATIVES REVENUE STRUCTURE OF GOVERNMENT TAX TRANSPARENCY TREASURY FINANCIAL ANALYSIS CASH MANAGEMENT ACCOUNTING & REPORTING AUDITING PUBLIC FINANCE FINANCIAL REPORTS FINANCIAL MANAGEMENT COMPUTER SYSTEMS BUDGET ANALYSIS ACCOUNTING AUTOMATION BUDGET PROCESS World Bank Jamaica : Country Financial Accountability Assessment
geographic_facet	Latin America & Caribbean Jamaica
description	The Bank conducts Country Financial Accountability Assessments (CFAA) in all borrower countries. The specific objectives of the CFAA are to review the key aspects of public financial management at the national level: a) flow of funds to government entities and Bank projects, including planning, cash management, and budgeting; b) accounting and financial reporting; and c) auditing of public sector activities. The Bank carried out field work for a CFAA in Jamaica in May 2000. This CFAA makes the following recommendations: 1) Inefficient in the government's planning process and its subsequent integration into the budget process result in an inefficient execution of the budget, monitored mainly by cash flows rather than outputs. 2) Current budget formulation formats need to be simplified in order to increase their usefulness and assure more accurate estimates. 3) The government's decentralized cash management arrangements should be tightened to allow for greater central control over the amount of outstanding cash balances. 4) The government accounting function is more advanced than many Caribbean countries. However, there are still aspects to be improved. 5) The government's detailed financial reports on the budget and public sector expenditures should be more timely and focus more on actual expenditures rather than only the budgeted amounts. 6) As of 2000, the hardware and software of the Financial Management Information System (FMIS) needs to be upgraded.
format	Economic & Sector Work :: Country Financial Accountability Assessment
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Jamaica : Country Financial Accountability Assessment
title_short	Jamaica : Country Financial Accountability Assessment
title_full	Jamaica : Country Financial Accountability Assessment
title_fullStr	Jamaica : Country Financial Accountability Assessment
title_full_unstemmed	Jamaica : Country Financial Accountability Assessment
title_sort	jamaica : country financial accountability assessment
publisher	Washington, DC
publishDate	2013
url	http://documents.worldbank.org/curated/en/2001/04/1121221/jamaica-country-financial-accountability-assessment-cfaa http://hdl.handle.net/10986/15674
_version_	1764426612437155840

Jamaica : Country Financial Accountability Assessment

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