World Bank2014-09-102014-09-102014-05-01https://hdl.handle.net/10986/20036The main report comprises the following chapters: executive summary provides the overall view of the reform action plan. Chapter one outlines the background, scope and methodology for the study; chapter two outlines the overview of the state finances; chapter three describe the accomplishments made against the 2004 agreed PFMA action plan; chapter four provides an overview of the analysis, gaps and recommendations made in the study; chapter five describes the way forward for implementation of the action plan; annex one: PFM reform action plan - 2014 contains a thematic-wise plan outlining the actions to be taken, the responsible department for the actions, and the expected timeframe for completing the actions. The detailed analysis of the issues and the logic for the action plan are provided in the respective sections of the appendix; annex two: 2004 PFMA action plan, outlines the current status of action taken on 2004 PFMA action plan: this contains the action plan as proposed in the 2004 report, updated with the current status of actions in the identified areas. In case where the actions have been taken and completed by the Government of Karnataka, the impact has been documented. The appendix comprises the following sections: section one: theme one: strengthening PFM legal and institutional framework; section two: theme two: enhancing comprehensiveness and credibility of the budget; section three: theme three: strengthening accounting, reporting, controls, and transparency; section four: theme four: improving fiscal assets and liability management system; section five: theme five: strengthening audit and legislative oversight; section six: theme six: improving PFM in local self-governments; section seven: theme six: improving PFM in public sector undertakings (state owned); each section describes the various areas of public financial management in the Government of Karnataka grouped into thematic reform areas. Each reform area has a discussion of the background, the reform actions proposed in the 2004 PFMA action plan, the progress of reforms over the last decade, the issues presently identified, and the rationale for the reform actions proposed; and section eight: 2014 action plan: this section describes the action plan with next steps to be followed under each activity of the action plan.en-USCC BY 3.0 IGOACCOUNTABILITYACCOUNTABILITY FRAMEWORKACCOUNTABILITY MECHANISMACCOUNTANTACCOUNTINGACCOUNTING SYSTEMACCOUNTING TREATMENTACCRUAL ACCOUNTINGACCRUAL ACCOUNTING SYSTEMACCRUAL BASISAGGREGATE FISCALAGGREGATE FISCAL MANAGEMENTANNUAL BUDGETANNUAL FINANCIAL STATEMENTSAPPROPRIATIONAPPROPRIATIONSARREARSASSET LIABILITY MANAGEMENTASSET PORTFOLIOASSET-LIABILITY MANAGEMENTAUDIT FINDINGSAUDIT SYSTEMAUDITINGAUDITORSAUDITSBANK ACCOUNTSBANKSBENEFICIARIESBUDGET ALLOCATIONBUDGET ALLOCATIONSBUDGET CIRCULARSBUDGET CONTROLBUDGET CREDIBILITYBUDGET CYCLEBUDGET DATABUDGET DEVELOPMENTBUDGET DOCUMENTATIONBUDGET DOCUMENTSBUDGET ENVELOPEBUDGET ESTIMATESBUDGET EXECUTIONBUDGET FORMULATIONBUDGET IMPLEMENTATIONBUDGET OUTTURNBUDGET OUTTURNSBUDGET PASSAGEBUDGET PREPARATIONBUDGET PROCESSBUDGET PROPOSALSBUDGET REQUIREMENTSBUDGETARY EXPENDITUREBUDGETARY PROCESSESBUDGETINGBUDGETING PROCESSCAPACITY BUILDINGCAPACITY CONSTRAINTSCAPACITY ENHANCEMENTSCAPITAL EXPENDITURECAPITAL EXPENDITURESCAPITAL SPENDINGCASH FLOWCASH MANAGEMENTCASH PLANNINGCASH RATIONINGCENTRAL GOVERNMENTCHART OF ACCOUNTSCHECKSCONTINGENT LIABILITIESCORPORATE GOVERNANCECREDIT SYSTEMDATA COLLECTIONDEBT MANAGEMENTDEBT SERVICINGDECISION-MAKINGDECISION-MAKING PROCESSDEPOSITDEPOSIT ACCOUNTSDISBURSEMENTSDISCLOSURE GUIDELINESDONOR AGENCIESEFFECTIVENESS OF SERVICE DELIVERYEXPENDITUREEXPENDITURE COMMITMENTSEXPENDITURE DATAEXPENDITURE MANAGEMENTEXPENDITURE REQUIREMENTSEXPENDITURESEXTERNAL AUDITFIDUCIARY RESPONSIBILITIESFINANCE STAFFFINANCIAL ACCOUNTABILITYFINANCIAL ASSETSFINANCIAL INFORMATIONFINANCIAL MANAGEMENT INFORMATIONFINANCIAL MANAGEMENT INFORMATION SYSTEMFINANCIAL STATEMENTSFISCAL CONSOLIDATIONFISCAL CONSTRAINTSFISCAL DEFICITFISCAL DEFICITSFISCAL DISCIPLINEFISCAL INFORMATIONFISCAL MANAGEMENTFISCAL POLICYFISCAL POLICY FRAMEWORKFISCAL POSITIONFISCAL REFORMSFISCAL RISKSFISCAL RULESFISCAL SUSTAINABILITYFISCAL TARGETSFISCAL TRANSPARENCYGOVERNMENT FINANCESGOVERNMENT GUARANTEEGOVERNMENT SPENDINGGROSS PUBLIC DEBTHUMAN RESOURCEHUMAN RESOURCE MANAGEMENTINDEPENDENT AUDITORINFORMATION SYSTEMSINSTRUMENTINTEREST COSTSINTERNAL AUDITINTERNAL AUDIT FUNCTIONINTERNAL CONTROLINTERNAL CONTROLSLEGAL FRAMEWORKLEGISLATIONLEGISLATIVE REVIEW OF BUDGET EXECUTIONLEGISLATIVE SCRUTINYLETTER OF CREDITLIABILITYLIABILITY MANAGEMENTLOCAL GOVERNMENTLOCAL GOVERNMENTSLOCAL SELF GOVERNMENTSMANDATESMEDIUM-TERM EXPENDITUREMEDIUM-TERM FISCAL PLANMIGRATIONMISAPPROPRIATIONMODEL CODENATURAL DISASTERSORGANIZATIONAL STRUCTUREOWN SOURCE REVENUEPAYMENT SYSTEMPAYMENT SYSTEMSPENSIONPENSIONSPERFORMANCE ORIENTATIONPERIODIC REVIEWPORTFOLIOPROCUREMENT FUNCTIONPRUDENT FISCAL MANAGEMENTPUBLIC ACCOUNTPUBLIC ACCOUNTSPUBLIC COMPANIESPUBLIC ENTERPRISESPUBLIC EXPENDITUREPUBLIC EXPENDITURE REVIEWPUBLIC FINANCIAL MANAGEMENTPUBLIC FINANCIAL MANAGEMENT SYSTEMPUBLIC FUNDINGPUBLIC FUNDSPUBLIC INVESTMENTPUBLIC INVESTMENT SPENDINGPUBLIC PROCUREMENTPUBLIC SECTORPUBLIC SECTOR ENTITIESPUBLIC WORKSREFORM ACTIONSREFORM AGENDAREFORM OBJECTIVESREFORM PROCESSREFORM STRATEGYREPAYMENTRESERVERESERVE FUNDSRESOURCE MANAGEMENTRETURNSREVENUE EXPENDITURESREVENUE FORECASTINGSAVINGSSERVICE DELIVERYSTATE BUDGETSTATE GOVERNMENTSTATE TREASURYSTOCKSSUPREME AUDIT INSTITUTIONTAXTAX REVENUETAX REVENUESTAX STRUCTURETECHNICAL ASSISTANCETIMELY PAYMENTTOTAL EXPENDITURETRANSACTIONTRANSPARENCYTREASURIESTREASURY BILLTREASURY FUNCTIONTREASURY MANAGEMENTTREASURY SYSTEMTREASURY SYSTEMSURBAN DEVELOPMENT10.1596/20036