- 6 Marks
PSAF – Nov 2016 – L2 – Q2b – The context of public financial management.
Explaining key financial management provisions in the 1992 Constitution.
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Topic: Public sector financing initiatives
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+ past questions and counting.
- 4 Marks
PSAF – Nov 2016 – L2 – Q2c – The context of public financial management.
Explaining modalities for making payments out of the Consolidated Fund.
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- Tags: Consolidated Fund, Payment Modalities, Public Expenditure, Public Funds
- Level: Level 2
- Topic: Public sector financing initiatives
- Series: NOV 2016
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- 8 Marks
PSAF – Nov 2016 – L2 – Q2a – Public Procurement.
Explain the stages involved in the national competitive tendering process for public procurement.
Question
Competitive tendering is a method of public procurement that seeks tenders from all potential suppliers or contractors to achieve value for money in public procurement. Competitive tendering is carried out in accordance with the competitive tendering procedures under the public procurement law.
Required: Explain FOUR procedures involved in carrying out national competitive tendering for the procurement of goods, services, and works. (6 marks)
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- 5 Marks
PSAF – Nov 2016 – L2 – Q5d – Public sector fiscal planning and budgeting
Discuss five benefits of integrating Ghana's tax revenue agencies.
Question
In December 2009, the three tax revenue agencies, the Customs, Excise and Preventive Service (CEPS), the Internal Revenue Service (IRS), and the Value Added Tax Service (VATS) were merged in accordance with Ghana Revenue Authority Act 2009, Act 791 to become the Ghana Revenue Agency.
Required:
Discuss five benefits of the integration to Tax Payers and the Tax Administration in Ghana.
(5 marks)
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- Tags: ICAG, Integration, Revenue Agency, Tax Administration
- Level: Level 2
- Topic: Public sector financing initiatives
- Series: NOV 2016
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- 5 Marks
PSAF – July 2023 – L2 – Q5c – Public sector financing initiatives
Outline the sources of income for the District Assembly Common Fund (DACF) and the Petroleum Holding Fund (PHF).
Question
In accordance with Article 175 of the Constitution of the Republic of Ghana, the Public Funds of Ghana consist of the Consolidated Fund, Contingency Fund, and such Other Funds as may be established by or under the authority of an Act of Parliament. Other Funds established by or under the authority of an Act of Parliament include the District Assembly Common Fund (DACF) and the Petroleum Holding Fund (PHF).
Required:
With respect to each fund (DACF and PHF), outline THREE (3) sources of income.
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- Tags: DACF, PHF, Public Finance, Public Funds, Revenue Sources
- Level: Level 2
- Topic: Public sector financing initiatives
- Series: JULY 2023
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- 6 Marks
PSAF – Nov 2020 – L2 – Q5b – Public sector financing initiatives
State and explain three measures the Finance Minister shall take when recognizing illegally occupied government land or building.
Question
In accordance with Section 4 (2) (d) of the Public Financial Management Act 2016 (Act 921), the Minister of Finance shall manage Government property, Financial assets, Government debts, Government guarantees, and other contingent liabilities specified under Act 921. Paragraph 160 (2) of Public Financial Management Regulations, L.I 2378 of 2019 sets out measures the Finance Minister shall take upon recognizing that Government land or building is illegally occupied by an unauthorized person.
Required:
State and explain THREE (3) measures the Finance Minister shall take, upon recognizing that Government land or building of a covered entity is illegally occupied by an unauthorized person. (6 marks)
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- Tags: Government property, PFM Act, property management, Public Sector Accounting
- Level: Level 2
- Topic: Public sector financing initiatives
- Series: NOV 2020
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- 5 Marks
PSAF – July 2023 – L2 – Q5b – Public sector financing initiatives
Explain the challenges that the Ghana Integrated Financial Management Information System (GIFMIS) promises to address in public financial management.
Question
The Ghana Integrated Financial Management Information System (GIFMIS) was launched to eradicate or reduce the endemic challenges in the public financial management system. Many experts hailed it as the panacea for the developmental challenges of Ghana.
Required:
In reference to the above, explain FIVE (5) challenges that the GIFMIS promises to address in public financial management in Ghana.
Find Related Questions by Tags, levels, etc.
- Tags: Budgeting, Financial Reporting, GIFMIS, Public Financial Management, Revenue management
- Level: Level 2
- Topic: Public sector financing initiatives
- Series: JULY 2023
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- 10 Marks
PSAF – May 2017 – L2 – Q5b – Public sector financing initiatives
This question evaluates the feasibility of a public-private partnership (PPP) for constructing and managing libraries in rural areas and identifies associated risks.
Question
The Ministry of Education is currently considering public-private partnership as a means of improving educational infrastructure in the rural areas. The Ministry intends to use Public-Private Partnership to construct and manage modern libraries in rural areas to increase access to quality reading materials in a serene environment. The project would be fully financed by the private sector and will be built on lands secured by the government from the chiefs of the communities.
The private sector requires government guarantee to borrow externally to execute the project. Currently, public library services are free; however, the new project when executed through Public-Private Partnership would be on a “user-pay” basis. The average fees payable per user are estimated at GH¢20 per week and will be subject to an upward review from time to time. In order to stimulate private sector interest in the project, the Ministry intends to immunize the private sector against risks associated with the project. Meanwhile, the Ministry would insist that local materials and skills are employed in the construction and management of the library project. The project is also environmentally friendly as there will be little or no destruction of the forest vegetation. The project when completed will be of great benefit to the country as a whole.
Required:
i) Based on FOUR guiding principles of Public-Private Partnership under the national Public-Private Partnership policy, explain the feasibility or otherwise of the proposed library project by the Ministry of Education. (6 marks)
ii) Explain TWO sources of risks associated with the library project that should be allocated between the public sector and the private sector in the Public-Private Partnership arrangement. (4 marks)
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- 8 Marks
PSAF – May 2016 – L2 – Q4c – Public sector financing initiatives
This question explores the objectives and guiding principles of Public Private Partnership (PPP) agreements in Ghana.
Question
i) State ONE objective of a public private partnership agreement?
ii) Explain THREE factors that the Government would consider before entering into a public private partnership agreement?
iii) Explain the following terms used as guiding principles in IPSAS 13 and 32 – Accounting for Public Private Partnership:
- Service Concession Arrangement
- Lease
- Recognition of Revenue
- Economic Life of an Asset
Find Related Questions by Tags, levels, etc.
- Tags: Asset Life, Financial management, Ghana, IPSAS, Lease, PPP, Public-Private Partnership, Revenue Recognition, Service Concession
- Level: Level 2
- Topic: Public sector financing initiatives
- Series: MAY 2016
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- 10 Marks
PSAF – Nov 2023 – L2 – Q4c -Public sector financing initiatives
Discuss PPP investment models and benefits for MTU in the context of developing university infrastructure under fiscal constraints.
Question
Musko Technical University (MTU) is a public University in Ghana. The University has a student population of about Twelve Thousand (12,000). It relies on Government subvention and Internally Generated Fund in running its operations and developing public infrastructure. As a result of the fiscal challenges the Government is experiencing, it has reduced its funding support to the University. This problem together with low Internally Generated Fund has resulted in the University expending greater proportion of its Internally Generated Fund on Goods and Services which reduces spending on infrastructure development. Currently, the University needs a good Library, Lecture Theatre and Hostel facility for the smooth running of its operations. The University is aware of the new Public Funding Initiative called Public Private Partnership (PPP). Fortunately, it has been approached by a South African investor who wishes to enter into a PPP contract with the University to build 8,400-unit capacity hostel facility in the University within two years. This arrangement is expected to reduce students’ internal accommodation deficit from 90% to 20%. Currently, the University’s challenge is how to maintain their control on the Hostel Facility after the construction under PPP.
Required: i) Explain THREE (3) PPP investment models suitable for addressing the needs of MTU. (6 marks)
ii) Discuss FOUR (4) benefits MTU may obtain from such initiatives. (4 marks)
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- 6 Marks
PSAF – Nov 2016 – L2 – Q2b – The context of public financial management.
Explaining key financial management provisions in the 1992 Constitution.
Find Related Questions by Tags, levels, etc.
Report an error
- 4 Marks
PSAF – Nov 2016 – L2 – Q2c – The context of public financial management.
Explaining modalities for making payments out of the Consolidated Fund.
Find Related Questions by Tags, levels, etc.
- Tags: Consolidated Fund, Payment Modalities, Public Expenditure, Public Funds
- Level: Level 2
- Topic: Public sector financing initiatives
- Series: NOV 2016
Report an error
- 8 Marks
PSAF – Nov 2016 – L2 – Q2a – Public Procurement.
Explain the stages involved in the national competitive tendering process for public procurement.
Question
Competitive tendering is a method of public procurement that seeks tenders from all potential suppliers or contractors to achieve value for money in public procurement. Competitive tendering is carried out in accordance with the competitive tendering procedures under the public procurement law.
Required: Explain FOUR procedures involved in carrying out national competitive tendering for the procurement of goods, services, and works. (6 marks)
Find Related Questions by Tags, levels, etc.
Report an error
- 5 Marks
PSAF – Nov 2016 – L2 – Q5d – Public sector fiscal planning and budgeting
Discuss five benefits of integrating Ghana's tax revenue agencies.
Question
In December 2009, the three tax revenue agencies, the Customs, Excise and Preventive Service (CEPS), the Internal Revenue Service (IRS), and the Value Added Tax Service (VATS) were merged in accordance with Ghana Revenue Authority Act 2009, Act 791 to become the Ghana Revenue Agency.
Required:
Discuss five benefits of the integration to Tax Payers and the Tax Administration in Ghana.
(5 marks)
Find Related Questions by Tags, levels, etc.
- Tags: ICAG, Integration, Revenue Agency, Tax Administration
- Level: Level 2
- Topic: Public sector financing initiatives
- Series: NOV 2016
Report an error
- 5 Marks
PSAF – July 2023 – L2 – Q5c – Public sector financing initiatives
Outline the sources of income for the District Assembly Common Fund (DACF) and the Petroleum Holding Fund (PHF).
Question
In accordance with Article 175 of the Constitution of the Republic of Ghana, the Public Funds of Ghana consist of the Consolidated Fund, Contingency Fund, and such Other Funds as may be established by or under the authority of an Act of Parliament. Other Funds established by or under the authority of an Act of Parliament include the District Assembly Common Fund (DACF) and the Petroleum Holding Fund (PHF).
Required:
With respect to each fund (DACF and PHF), outline THREE (3) sources of income.
Find Related Questions by Tags, levels, etc.
- Tags: DACF, PHF, Public Finance, Public Funds, Revenue Sources
- Level: Level 2
- Topic: Public sector financing initiatives
- Series: JULY 2023
Report an error
- 6 Marks
PSAF – Nov 2020 – L2 – Q5b – Public sector financing initiatives
State and explain three measures the Finance Minister shall take when recognizing illegally occupied government land or building.
Question
In accordance with Section 4 (2) (d) of the Public Financial Management Act 2016 (Act 921), the Minister of Finance shall manage Government property, Financial assets, Government debts, Government guarantees, and other contingent liabilities specified under Act 921. Paragraph 160 (2) of Public Financial Management Regulations, L.I 2378 of 2019 sets out measures the Finance Minister shall take upon recognizing that Government land or building is illegally occupied by an unauthorized person.
Required:
State and explain THREE (3) measures the Finance Minister shall take, upon recognizing that Government land or building of a covered entity is illegally occupied by an unauthorized person. (6 marks)
Find Related Questions by Tags, levels, etc.
- Tags: Government property, PFM Act, property management, Public Sector Accounting
- Level: Level 2
- Topic: Public sector financing initiatives
- Series: NOV 2020
Report an error
- 5 Marks
PSAF – July 2023 – L2 – Q5b – Public sector financing initiatives
Explain the challenges that the Ghana Integrated Financial Management Information System (GIFMIS) promises to address in public financial management.
Question
The Ghana Integrated Financial Management Information System (GIFMIS) was launched to eradicate or reduce the endemic challenges in the public financial management system. Many experts hailed it as the panacea for the developmental challenges of Ghana.
Required:
In reference to the above, explain FIVE (5) challenges that the GIFMIS promises to address in public financial management in Ghana.
Find Related Questions by Tags, levels, etc.
- Tags: Budgeting, Financial Reporting, GIFMIS, Public Financial Management, Revenue management
- Level: Level 2
- Topic: Public sector financing initiatives
- Series: JULY 2023
Report an error
- 10 Marks
PSAF – May 2017 – L2 – Q5b – Public sector financing initiatives
This question evaluates the feasibility of a public-private partnership (PPP) for constructing and managing libraries in rural areas and identifies associated risks.
Question
The Ministry of Education is currently considering public-private partnership as a means of improving educational infrastructure in the rural areas. The Ministry intends to use Public-Private Partnership to construct and manage modern libraries in rural areas to increase access to quality reading materials in a serene environment. The project would be fully financed by the private sector and will be built on lands secured by the government from the chiefs of the communities.
The private sector requires government guarantee to borrow externally to execute the project. Currently, public library services are free; however, the new project when executed through Public-Private Partnership would be on a “user-pay” basis. The average fees payable per user are estimated at GH¢20 per week and will be subject to an upward review from time to time. In order to stimulate private sector interest in the project, the Ministry intends to immunize the private sector against risks associated with the project. Meanwhile, the Ministry would insist that local materials and skills are employed in the construction and management of the library project. The project is also environmentally friendly as there will be little or no destruction of the forest vegetation. The project when completed will be of great benefit to the country as a whole.
Required:
i) Based on FOUR guiding principles of Public-Private Partnership under the national Public-Private Partnership policy, explain the feasibility or otherwise of the proposed library project by the Ministry of Education. (6 marks)
ii) Explain TWO sources of risks associated with the library project that should be allocated between the public sector and the private sector in the Public-Private Partnership arrangement. (4 marks)
Find Related Questions by Tags, levels, etc.
Report an error
- 8 Marks
PSAF – May 2016 – L2 – Q4c – Public sector financing initiatives
This question explores the objectives and guiding principles of Public Private Partnership (PPP) agreements in Ghana.
Question
i) State ONE objective of a public private partnership agreement?
ii) Explain THREE factors that the Government would consider before entering into a public private partnership agreement?
iii) Explain the following terms used as guiding principles in IPSAS 13 and 32 – Accounting for Public Private Partnership:
- Service Concession Arrangement
- Lease
- Recognition of Revenue
- Economic Life of an Asset
Find Related Questions by Tags, levels, etc.
- Tags: Asset Life, Financial management, Ghana, IPSAS, Lease, PPP, Public-Private Partnership, Revenue Recognition, Service Concession
- Level: Level 2
- Topic: Public sector financing initiatives
- Series: MAY 2016
Report an error
- 10 Marks
PSAF – Nov 2023 – L2 – Q4c -Public sector financing initiatives
Discuss PPP investment models and benefits for MTU in the context of developing university infrastructure under fiscal constraints.
Question
Musko Technical University (MTU) is a public University in Ghana. The University has a student population of about Twelve Thousand (12,000). It relies on Government subvention and Internally Generated Fund in running its operations and developing public infrastructure. As a result of the fiscal challenges the Government is experiencing, it has reduced its funding support to the University. This problem together with low Internally Generated Fund has resulted in the University expending greater proportion of its Internally Generated Fund on Goods and Services which reduces spending on infrastructure development. Currently, the University needs a good Library, Lecture Theatre and Hostel facility for the smooth running of its operations. The University is aware of the new Public Funding Initiative called Public Private Partnership (PPP). Fortunately, it has been approached by a South African investor who wishes to enter into a PPP contract with the University to build 8,400-unit capacity hostel facility in the University within two years. This arrangement is expected to reduce students’ internal accommodation deficit from 90% to 20%. Currently, the University’s challenge is how to maintain their control on the Hostel Facility after the construction under PPP.
Required: i) Explain THREE (3) PPP investment models suitable for addressing the needs of MTU. (6 marks)
ii) Discuss FOUR (4) benefits MTU may obtain from such initiatives. (4 marks)
Find Related Questions by Tags, levels, etc.
Report an error