PROPOSAL
The motive of this study
“the Overview of local government finance in the New millennium is to know the
extent of finance management at the local level.
At the local government level, finance
have not been sufficiently provided for. Even the little funds at their
disposal are not adequately used.
The chapter one of this work gives an
introductory aspect of the work. The
chapter two shows in details the need for local government, local government
source of fund, local government organizational structure and the concept of
financial administration. While the
chapter three shows the summary of
findings, conclusion and recommendation.
TABLE OF
CONTENTS
Title page
Approval page
Dedication
Acknowledgement
Proposal
CHAPTER
ONE: INTRODUTION
1.1
Background of the study
1.2
Statement of problem
1.3
Objective of the study
1.4
Significance of the study
1.5
Scope and limitations of the
study
1.6
References
CHAPTER
TWO: LITERATURE REVIEW
2.1
Need for local government
2.2
Local government source of
fund
2.3
Local government
organizational structure
2.4
The concept of financial
administration
2.5
Definition of terms
2.6
References
CHAPTER
THREE: SUMMARY
3.1
Summary of findings
3.2
Conclusion
3.3
Recommendation
Bibliography
CHAPTER ONE
1.1
BACKGROUND OF THE STUDY
Finance has been a problem facing the
government. The government of Nigeria
is made up of the federal, state and local government which is preferably
called the three tiers of government.
But however, this work is only limited to the local government.
Local government forms the third tier
of government in Nigeria. The aim of creating local government is to
decentralize government so that local government which is nearest to the people
will enable the people to participate in development process of their area.
Local government is also referred to as government at this grassroots level.
To carry out its function, the local
government must have readily available finances. This is because the need for finance is very
important in any establishment.
In defining what finance is various
perspectives from different aspects are recognized?
1.
The layman understands finance as the volume of money
held as cash and cash balances at bank.
2.
The investor sees finance as the possession of funds
when it is needed for investments.
3.
The academics sees finance as the discipline that studies
the science of funds management, which includes the institutions that are
involved in sourcing funds such as the money market institutions, insurance
market institutions and mortgage market institutions etc.
These
guidelines help in generating funds and funds management.
1.2
STATEMENT OF PROBLEM
One of the problems facing the local government is
that they have limited source of revenue.
Apart from revenue accruing from the federation accounts all other
source of revenue do not yield much fund.
This federation accounts services as the federal government budget
estimates.
In 1996 the vertical sharing from the
federation accounts placed the local government on 20.0%. The federating
government of Nigeria
is empowered with the responsibility of generating and distributing revenue
accruing from oil and non-oil revenue.
1.3
OBJECTIVE OF THE STUDY
The objective of the work is to explore into the
hindrance against effective measures undertaken to curtail the low rate of
finance in local government.
It will help in ensuring that adequate
controls exist over the receipt custody and disbursement of funds, that all its
transactions are promptly and properly accounted for and all documents and
records relating to the financial transaction are accurate and complete.
1.4
SIGNIFICANCE OF THE STUDY
This study
helps in policy making and investment.
It also serves as a guide to authorities on how to control finance.
After identifying the problems, it
would also help in allocating fund to local government by checking its expenditures. This, in effect will also help the local
government in funds management.
The people at the grassroots will also
benefit from the study in solving their needs, thereby increasing the standard
of living.
1.5
SCOPE AND LIMITATIONS OF THE STUDY
The study will
ascertain the source of funds of local government administration.
It would also look into the concepts
of financial administration of the local government and its expenditure
relating to inadequate funds.
REFERENCES
1.
Joseph Iloh 2004
Business Finance
Rockhill Associaties P 1 and 2
2.
Odoh Nick N. 2004
Introduction
to Public Finance
J.T.C.
Publisher P 53
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