ASSESSMENT OF THE QUALITY OF PUBLIC FINANCIAL MANAGEMENT IN THE MUNICIPALITY OF AERODROM USING THE PEFA METHODOLOGY
Journal
Economic Development
Date Issued
2025-05-22
Author(s)
Zafirova, Angela
DOI
10.55302/ed251-2152z
Abstract
<jats:p>Effective institutions and systems of public finance management (PFM) play a
key role in the implementation of national development policies. Therefore, the
aim of this paper is to evaluate public expenditures and financial accountability,
that is, to evaluate the current results of the public financial management
system in the Municipality of Aerodrom. For this purpose, an adjustment was
made to the PEFA framework and six indicators were selected to be evaluated
in the selected municipality. The analysis in this paper is based on the
guidelines issued by the PEFA secretariat for the functioning of the framework
and provides a ranking for all indicators and their dimensions for the period
2021-2023. From the conducted analysis, it can be concluded that the areas
of public financial management that are regulated by law are respected at a
solid level and the scores are quite high when it comes to the Municipality
of Aerodrom. However, there is still room for improvement, especially in the
area of realization of transfers from higher levels of government and dedicated
transfers, realization of expenditures and the budget preparation process.
Therefore, this paper can also serve as a proposal for further legal regulations
in some of the areas of public financial management.</jats:p>
key role in the implementation of national development policies. Therefore, the
aim of this paper is to evaluate public expenditures and financial accountability,
that is, to evaluate the current results of the public financial management
system in the Municipality of Aerodrom. For this purpose, an adjustment was
made to the PEFA framework and six indicators were selected to be evaluated
in the selected municipality. The analysis in this paper is based on the
guidelines issued by the PEFA secretariat for the functioning of the framework
and provides a ranking for all indicators and their dimensions for the period
2021-2023. From the conducted analysis, it can be concluded that the areas
of public financial management that are regulated by law are respected at a
solid level and the scores are quite high when it comes to the Municipality
of Aerodrom. However, there is still room for improvement, especially in the
area of realization of transfers from higher levels of government and dedicated
transfers, realization of expenditures and the budget preparation process.
Therefore, this paper can also serve as a proposal for further legal regulations
in some of the areas of public financial management.</jats:p>
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