Financial Management in Public Offices
Public offices are occupied by statemen who are often made in charge of public funds and the offices they are in. In many instances, statemen have been assumed to be similar to politicians, but that is not the truth. Statemen are different from politicians in the sense that the latter are in office for the power, public attention, personal gain, and in some instances, the thrill accompanying being in a powerful position. Statemen, on the other hand, have earned their position since they seek to serve the people. The statemen approach to financial management is, therefore, one that is very precise and one that is guided by a vision and discipline.
Statemen are good managers of the money entrusted to them. “Statemen need to be good managers of public funds which have been entrusted to them in order to achieve organizational objectives” (Rivenbark, 2017). Statemen understand that the finances they are entrusted with are in the custody of the government, but they actually belong to the taxpayers hence the need for accountability. In many nations, “the largest revenue source for the government is from the individual income tax, and the largest source for most local governments is property tax, which is also paid from individual taxpayers” (Denhardt et al., 2014). Most state men understand that the taxpayers are able to meet their obligations from the work that God has granted them with and are therefore keen and accountable for the resources they have been handed.
While being in the public eye might be intimidating for some to make the tough decisions when it comes to finances, statemen work from the point of priority. It is important to make sound financial decisions, even in public space (Smith & Bempah, 2017). Statemen are keen on hard decisions and hence depend on the system of prioritization when needed to make a tough call. In most instances, statemen do not seek to please anyone when it comes to making tough financial decisions and is therefore quick to cut down on expenses when need be. In times of emergencies, they pay attention to pressing concerns even though they rub off the wrong way on the wealthy people. 1 Timothy 6:17 “Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment.”
Public budgets have no room for a person’s self-interest or preferences; they have to be made from the point of equality. Being the lead budget planner, a statesman should be ready for challenges and keen to prepare for tough times in the future (Kasdan, 2014). Coming up with a budget will require the statemen to be tough and showcase their leadership skills. This will be seen in their guidance in budget planning and their ability to separate self-interest from what is necessary for the planning process. Statemen should be able to cut down funds where they deem necessary as well as adequately plan for a disaster without favors. Proverbs 21:20 states that the wise store up choice foods and olive oil for rainy days, but the fools gulp down whatever they get. Statemen need to work from the point of wisdom and plan for rainy days during their flourishing economic years. Their wisdom will be manifested during tough times and how easy a nation will recover based on the financial allocation done by statemen.
A statesman takes up a public office in order to be of service to the people and not to grow their personal interest. In so doing, they need to be guided by personal virtues and discipline. For many people, their virtues are derived from a religious book such as the Bible. The teachings in the religious books not only apply to personal lives but can also cut across to professional lives and, in the case of statemen, to their financial obligations. Being a statesman is a high responsibility, and one needs to be well rooted in their virtues to best perform in their position and serve the people well.
Références
RIVENBARK, W. (2017). PERFORMANCE AND FINANCIAL MANAGEMENT IN LOCAL GOVERNMENT: SYMPOSIUM INTRODUCTION. Public Administration Quarterly, 41(1), 4-6. Retrieved July 30, 2020, from www.jstor.org/stable/26383381
Kasdan, David. (2014). A Tale of Two Hatchet Men: Emergency Financial Management in Michigan. Administration & Society. 46. 1092-1108. 10.1177/0095399714554679.
Smith, B., & Bempah, O. (2017). Determinants of sound budgeting and financial management practices at the decentralized level of public administration. OECD Journal on Budgeting, 2016(2), 109–128. doi: 10.1787/budget-16-5jg19mnf3vr1
Denhardt, R., Denhardt, J., & Blanc, T. (2014). Public Administration: An Action Orientation (7th ed.).