TABLE OF CONTENTS
Table of contents
- Problem of the study
- Purpose of the study
- Scope of the study
- Research methodology
- Scope of the study
- Plan of the study
- Definition of terms
- Local Government finance
- Term Financial Management
- Financial Management Problems
- Source of Government Revenue
- Function of Local Government
- Objective and Role of a Local Government
- Financial Control of Local Government
- Accounting System in Local Government
- Historical Profile of Ilorin South Local Government
- Organization of Local Government Structure
- The Role Call Past Chairman and Sole Administration
4.1 Data Presentation and Analysis
4.2 Position of Internal Auditor
4.3 Audit and Review
4.4 Budget Execition Comparison with Actual Budget
SUMMARY, CONCLUSION AND RECOMMENDATIONS
Financial Management is primarily concerned with management process of planning the provision and effective utilization of fund. In the context of this study, financial management is more than mere receipt and disbursement of funds. It entails the proper use of available resources which are usually limited financial resources for the accomplishment of set goals and objective which would have been arrived at through and arduous and painful process of choosing among various competing and deserving alternative. In taking decision, especially those that have financial implication, local government functionaries are expected to have in very responsible manners, realizing that the are holding fiduciary responsibility on behalf of the public to whom they are accountable. Local government is the lowest tier of government anywhere in the world. It is very important because of its closeness to the people. As a result, it is multipurpose in terms of carrying out social economic services.
In the local society stimulating and encouraging local initiative in community work, promoting the democratic service as training ground for national political leaders, servicing as a medium of communication between the people and the higher tier of government.
The main purpose of local government system the reform, is to ensure effective administration at the grassroots level local government aims to ensure adequate mobilization of human and financial resources for local development. In the light of the foregoing, local government can e defined as administrative entity with a sovereign nation or aquasi sovereign state with distinct geographical boundaries she is vested with administrative and loyal power to make bye laws within her area of jurisdiction. Local government in Nigeria have undergoes a lot of vicissitudes and reforms the most popular which has been the 1976 reforms which inform the frame work of operation today, before 1978, it has been a situation of confusion, traditionalism and in some case neglect from 1976 to date a lot of committee had be set up and minor reform took place as a result but the spirit of 1976 reform is still living.
In sprite of the fact that the 1976 of local government reform had established a unified systems, there is a lot to be learned from the mistakes and achievement regarding the operation of the system. It s principally against the background professional administrators, councilors, supervisors and individuals in part of the country may find it useful to understand the operative system of local government finance in Nigeria. The general public will also like to know the councils obtain revenue and how such revenue accounted for and spent.