An appropriate financial management and budgeting system to support transition in South Africa

[摘要] ENGLISH ABSTRACT: The study is devoted to the determination of an appropriate financialmanagement and budgeting system to support a transforming South Africa.Given the challenges and opportunities presented by the new politicaldispensation, both locally and abroad, the evolution of financial managementand budgeting systems is analysed. Specifically, elements of each budgetarysystem that stood the test of time to the present, are studied.International case studies of countries that have undergone (or areundergoing) the transformation process successfully, or otherwise, are fullydiscussed to serve as invaluable lessons and experience for South Africa onits quest for a smooth and swift transformation, to prevent it from ending upas just another unsuccessful transformation. This then serves as a broadfoundation for an appropriate financial management and budgeting systemwhich is proactive in the transformation process.South Africa will not reinvent the wheel. Unlike other countries that waited fortransformation problems to fall upon them, the South African financialmanagement and budgeting system manipulates the financial managementpolicies. It achieves this by broadly defining the objectives to be achievedthrough prioritisation and reprioritisation, formulate clear strategies for shortterm,medium-term and long-term plans, goals, processes, functions andactivities.It applies all the positive elements of input-orientated systems, activity/performance measuring systems, objective/goal-orientated system, mediumterm expenditure framework and multi-year budgets studied and drawn fromlessons and experience of other countries. South Africa's appropriatefinancial management and budgeting system is a broad crosswalk modelvacillating between all systems from a broad definition of objectives, goals,processes and activities ending up with a strong financial management tool.

[发布机构] Stellenbosch University