World Bank2013-07-012013-07-012003-06https://hdl.handle.net/10986/14343In the Gambia, effective public financial management is promoted through a reasonably sound budget framework. However, there are a number of serious weaknesses, which create a high level of fiduciary risk. (Appendix 1 of this report.) Fiduciary risk means here that there is a risk that resources are not accounted for properly, that they are not used for intended purposes and that expenditure does not represent value for money. There are also risks associated with the governance environment. These weaknesses include poor resource allocation, non-compliance, limited execution, inadequate monitoring and scrutiny, insufficient capacity, lack of enforcement, non-transparency, and poor parliamentary oversight. The Government's pledge to strengthen governance needs to be translated into measures to address these weaknesses. This report recommends the following recommendations for providing evidence that significant progress has been made towards the fundamental benchmarks in public financial management: 1) Strengthen linkages between policies and budget expenditures through updating sectoral public expenditure reviews (PERs) for education, health, and agriculture & natural resources, and completing two new PERs in the infrastructure (transportation) and local government sectors. 2) Provide spending departments with indicative resource envelopes beyond the coming month/quarter to facilitate their planning and management. 3) Update the accounting records (including bank reconciliations), immediate address concerns with information technology systems (OMICRON, WANG) and urgently close the annual accounts. 4) Issue audit opinions on financial statements for 1991-1999.en-USCC BY 3.0 IGOACCOUNTACCOUNTABILITYACCOUNTANCYACCOUNTANTSACCOUNTING DOCUMENTSACCOUNTING RECORDSACCOUNTING STANDARDSADJUSTMENT LENDINGAGGREGATE FISCAL DISCIPLINEALLOCATION OF RESOURCESANTI-CORRUPTIONAUDITINGAUDITING PROFESSIONAUDITING STANDARDSAUDITORSAUDITSAUTHORITYAUTHORIZATIONBANK ACCOUNTSBUDGET CLASSIFICATIONBUDGET ESTIMATESBUDGET EXECUTIONBUDGET EXPENDITURESBUDGET FORMULATIONBUDGET MANAGEMENTBUDGET PROCESSBUDGET SYSTEMBUDGETARY PROCESSBUDGETINGCENTRAL GOVERNMENTCIVIL SERVICECONSTITUENCIESCONSTITUTIONCOUNCILSCREDIT CONTROLDEBTDEBT RELIEFDEBT SERVICEDECISION-MAKINGDECISION-MAKING PROCESSEXECUTIONEXPENDITUREFINANCIAL ACCOUNTABILITYFINANCIAL MANAGEMENTFINANCIAL PLANNINGFINANCIAL REPORTINGFINANCIAL STATEMENTSFINANCIAL STATISTICSFINANCIAL SUPPORTFISCALGOVERNMENT ACCOUNTINGGOVERNMENT AGENCIESGOVERNMENT FINANCEGOVERNMENT INFORMATIONGOVERNMENT SALARIESGOVERNMENT SYSTEMSHOUSINGHOUSING FINANCEHUMAN RESOURCEHUMAN RESOURCE MANAGEMENTINSTITUTIONAL FRAMEWORKINTERNAL AUDITINTERNAL AUDIT FUNCTIONLAWSLEGISLATIONLEGISLATIVE FRAMEWORKLEGISLATIVE OVERSIGHTLEGISLATURELOCAL GOVERNMENTNATIONAL ACCOUNTSNATIONAL BUDGETNATIONALSNATURAL RESOURCESPAYROLLPORTSPRIVATE SECTORPROCUREMENTPROVISIONSPUBLIC ACCOUNTABILITYPUBLIC ADMINISTRATIONPUBLIC ENTERPRISESPUBLIC EXPENDITUREPUBLIC EXPENDITURE MANAGEMENTPUBLIC EXPENDITURE REVIEWPUBLIC EXPENDITURE REVIEWSPUBLIC EXPENDITURESPUBLIC FINANCEPUBLIC FUNDSPUBLIC RESOURCESPUBLIC SECTORPUBLIC SECTOR ACCOUNTINGPUBLIC TRANSPORTATIONQUALITY CONTROLRESOURCE ALLOCATIONRESOURCE ALLOCATIONSSOCIAL WELFARESUBSIDIARYTECHNICAL ASSISTANCETRANSPARENCY ALLOCATION OF RESOURCESCOMPLIANCEINSTITUTIONAL CAPACITYENFORCEMENT POWERSPARLIAMENTARY SYSTEMLEGISLATIVE OVERSIGHTPUBLIC FINANCEFINANCIAL PLANNINGBUDGET MONITORINGBUDGET IMPLEMENTATIONAID COORDINATIONFINANCIAL REPORTING STANDARDSGOVERNMENT ACCOUNTINGINFORMATION TECHNOLOGYRECORDS MANAGEMENTHUMAN RESOURCES DEVELOPMENTAUDITINGACCESS TO INFORMATIONCORRUPTIONNONGOVERNMENTAL ORGANIZATIONSPUBLIC EXPENDITURES FOR EDUCATIONPUBLIC EXPENDITURES FOR HEALTHGOVERNMENT SPENDING POLICYWorld Bank10.1596/14343