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Cash forecasting and financial mgt controls

This document focuses on the importance of cash forecasting and financial management controls in the Ministry of Finance and Development Planning, Botswana. It highlights the necessity of accurately forecasting cash flows to ensure the government can meet its obligations. Key aspects include the impact of seasonal inflows and outflows, the reliance on cash forecasts for planning, and the importance of improved cash collection and expenditure controls. Transparency and effective reporting play a crucial role in ensuring financial stability and accountability in government operations.

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Cash forecasting and financial mgt controls

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

  2. 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

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

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

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

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

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