ANSWER BOTH QUESTIONS

QUESTION $1$

Various Acts and Regulations contribute towards sound public financial management in a variety of ways. Bearing this in mind, write explanatory notes on each of the following Acts and Regulations:

$($a$)$ Public Finance Management Act $(1$ of $1999)$;

$($b$)$ Appropriation Act;

$($c$)$ Treasury Regulations;

$($d$)$ Public Audit Act $(25$ of $2004)$;

$($e$)$ Medium$-$Term Expenditure Framework.

$[$Marks to be allocated as follows: $($a$)$ to $(e)=(10)$ marks each$].$

$50$

QUESTION $2$

$2\mathrm{.}1$ Write detailed notes on cash flow management and illustrate with the use of relevant public service examples.

$2\mathrm{.}2$ Briefly explain virement and rollovers as mechanisms used to deal with budget deficits$/$shortages and surpluses. Illustrate with the use of public service examples.

$(25)$

$50$

TOTAL: $100$