ABSTRACT
This project therefore, shows past and present development in the system of financing the Local Government. It exposes the problems and prospects of planning at the Local Government level. It also shows how there financial and fiscal relations affect the fiancé and performance of the Local Government. This study shows the major element in the financing of Local Government like the sources of internally generated revenue system of budgeting and planning cost and control as well as execution of policies. A case study of Ihete-Uboma Local Government is considered the method used in the study of the research design in secondary and primary data structure and it reduced to the accounting determent of the Local Government, which was collected from the accounting department of the Local Government
TABLE OF CONTENT
Title Page
Approval Page
Dedication acknowledgement
Abstract
Table of content
CHAPTER ONE
1.0 Introduction
1.1 Background of the Study
1.2 Statement of the Problem
1.3 Objectives of the Study
1.4 Research Question
1.5 Significance of the Study
1.6. Scope of the Study
1.7 Limitation of the Study
1.8 Definition of Terms
CHAPTER TWO
2.0 Literature Review
2.1 Introduction
2.2 Local Government Finance and Planning
2.3 Sources of Local Government Finance
2.4 Patterns of Local Government Expenditure
2.5 Problem of Revenue in Local Government
2.6 Absence of Reasonable Tenement Worthy of Valuation and Rating
2.7 Problem of Poor Finance Management and Accountability in Local Government
CHAPTER THREE
3.0 Research Design and Methodology
3.1 Introduction
3.2 Research Design
3.3 Sources/Method of Data Collection
3.4 Population and Sample Size
3.5 Sample Mechnique
3.6 Validity and Reliability of Measuring Instrument
3.7 Method of Data Analysis
CHAPTER FOUR
4.0 Presentation and Analysis of Data
4.1 Introduction
4.2 Presentation of Data
4.3 Analysis of Data
4.4 Interpretation of Result
CHAPTER FIVE
5.0 Summary, Conclusion and Recommendation
5.1 Introduction
5.2 Summary of Findings
5.3 Conclusion
5.4 Recommendations
Reverences
Appendix
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Right from time immoral man was faced with the problem of managing himself and the environment surrounding him. He was faced with problems like providing security for himself and how acquired resources that were not within his reach to improve his standard of living. The c0-existence of men on earth necessitate the combination of scale resources, which were used t o achieve better development process.
These benefit of amalgamated resources and idea must reach to the nook and cronies of a defined area of jurisdiction, managed by credible hands must be accountable to the people that sent them to local government administration. These is a third tier of government that was charge by law or constitution to administer the function of government and see the welfare and interest of the local dwellers under the local government system.
During the colonial era, local administration was rested on officers appointed by the colonial masters. The appointees had executive, legislature and sometime judicial functions. Characterizing Nigeria local government system during and after colonial period till 1976 was non-uniformity of the system, each state operated its own local government unique to it while propelled the federal military government to reform local government administration in 1976, during Mohamade Obasanjo regime. This 1976 local government reform marked the inception of the modern local government administration in Nigeria.
This reform was timely because Nigerians needed a local government system that will serve as machinery forever and accelerated development. We need a local government administration that will serve as a vehicle for increased democratic processes at the grass-root and provide the foundation for stability of the national political system. The local government has the financial powers to initiated and direct the provision of services stated, briefly local government perform proprietary developmental and other functions that may be assigned to them from time to time by the authority that established them.
It is to this effect that the local government are usually empowered to sources for revenue independently in addition to the periodic statement allocation from other superior bodies like the federation specific function aid responsible were assigned to them will powers to raise revenue through taxation and other sources such as property rates, fines, fees on license etc. with the guideline prescribed by legislation.
To guarantee the effectiveness and efficiency of local governments, the 1979 constitution granted the local government the status of a third tier system of government to make them function effectively and efficiently as agents of local democracy aid local development. It also granted them power to strengthen their revenue base through independent taxation. Again, the revenue allocation act of 1981 provided for the federal and state government to contribute ten percent (10%) of their actual revenue to the local government.
According to Okoli M.U (2005) the Dasuki committee on local government reforms, the statuary allocation of local government was increased to 15% on addition to contribute 5% of their total revenue. Besides, the 1979 constitution also provided for a joint account with local government which the federal and state government paid their shares of hares of statutory allocation of local government from where finds are supposed to be disbursed to local government by the national assembly.
