A Financial Expert, from the Office of the Accountant General, Adamawa State, Ambrose Framer says Budget profile and cash plan is an integral element of public expenditure management, that helps in identifying the need for in-year remedial fiscal action.
Framer gave the assertion in an interview with Radio Nigeria Fombina News in Yola Adamawa State.
Ambrose Framer, who is also a member of the technical committee on budget profile and cash plan stressed the need for individuals, business owners and government to develop cash planning and management to keep within budgeted expenditure in cash terms to prevent unanticipated borrowing that might disrupt monetary policies to help identify the need for in-year remedial fiscal action.
Framer added that even if the total limit on borrowing were not exceeded over a fiscal year, higher-than-planned expenditures within a short period may lead to a surge in borrowing and can disrupt the achievement of monetary policy objectives.
Program Manager, Pro health International, Sani Mohammed, acknowledged that knowledge on budget profile and cash plan will enable one recognize the time value and the opportunity cost of cash to plan expenditure effectively.
State2State, Public Financial Management Specialist, Suzanne Myada says Budget profile and cash plan is of strategic importance in any budget system and encouraged members of the priority Ministries Departments and Agencies, MDAs, in Adamawa State which are education, health, water sanitation and hygiene, WASH, to make use of the document for effective and efficient management of available resources.
Myada added that State2State, a USAID funded project aims to ensure transparency and accountability in government policies and therefore charged stakeholders in the priority MDAs to sustain its effort in other to ensure that expenditures are smoothly financed during the year, so as to minimize borrowing costs, enable the initial budget policy targets, especially the surplus or deficit to be met and contribute to the smooth implementation of both fiscal and monetary policy.