Abstract:
Budgetary accounting in operation was inherited from the colonial
administration over fifty years ago, with little or no modifications or
improvements. This was despite the growing sophistication of
environment, including vital elements of the environment such as the
general public and employee in the public service. This study was
undertaken to reveal existing loopholes, which need to be addressed for
better management of financial resources of the public sector. The study
started with discussion of budgets and budgetary control aspects of
budgetary accounting. These involved historical development of
budgetary control prior to 1930 and the incentive budget movement,
budgetary control in an organization, budgetary control administration
and budgetary control of Nigeria. Research methodology discussed
these factors, different methods of collecting data including mailing,
telephone and persona l contact. It also shed light in questionnaire
administration and choice of the respondents. The individual responses
were grouped into percentages. They were presented and analyzed as
such, to discover their hidden meanings. This was then related to the
Enugu State Public Utilities Board. The findings of the research included
the following: emphasis was mainly on financial accountability, financial
regulations inherited from the Eastern Regional Government not
reviewed to suit the present day problems, appointments made not
purely on merit and chief executives not interested in budgetary control
and performance not accounted for. In the light of the findings, the
following recommendations were made: establishment of budget
department or unit; policies of the government to be expressly stated;
trainings, seminars and workshops on budgets; establishment of goals,
standards, efficient use of materials and review of rules and regulations
governing financial matters on regular basis.
