Cash forecasting and financial mgt controls

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Cash forecasting and financial mgt controls Pauline K Mpofu Mompati D Nwako Division of Budget Administration Ministry of Finance & Development Planning, Botswana

Cash forecasting and financial mgt controls Cash forecasts The receipts and expenditures as outlined in the Governments Budget Any shortfall has to financed in some way – cash (loans or drawing down reserves) Botswana does not in the strict sense have cash forecasting

Needs for cash forecasting Smoothening of seasonality of inflows against outflows Ensure cash is available to meet Government obligations

Forecasting considerations Factors peculiar to the revenue item The base of the previous year Capacity for growth

Management Controls Cash flow reporting Monthly, weekly, daily Cash inflow control Improved collection plans Cash outflow control Control of Cash balances

Other mgt controls considerations Transparency In account lines e.g subsidies Foreign payments Personal Emoluments/allowances