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Unlocking the Black Box of Public Finance

A 360° view of the processes and politics of public spending

FMI and The Institute of Fiscal Studies and Democracy (IFSD) have partnered on an in-depth, three-day course focused on teaching public servants the tools needed to improve performance in financial and related roles by refining analytic competencies and applying them to understand and evaluate the institutions, processes, and actors that influence the management of public money.

Course Overview:

The black box of public financial management is made up of processes, influenced by actors, and governed by laws and precedents. Understanding the black box and its nuances requires a holistic view of the incentives and actions of the government, the legislature and the public service.

Through this course, public servants will build on their existing knowledge and competencies and deepen their understanding of the inner operations of a year-long financial cycle from estimates, to the budget, and the public accounts, with intermediate steps on decision-support to cabinet, risk mitigation and avoiding boondoggles through sound financial management.

Led by expert instructors, the course uses case-based learning, international benchmarking for comparative analysis, and engaging simulations allowing participants the opportunity to exchange views on the politics of money in public finance with their peers.

Learning Outcomes:

  • APPLY technical competencies in costing, risk mitigation and management, cabinet submission drafting, government financial nomenclature, and key reporting documents, to create and evaluate your own models and scenarios.
  • EXPLORE Canada's budgetary system, including its traditions, principles, procedures, cycle, process, players and stakeholders.
  • UNDERSTAND the federal government accounting entity, reporting frameworks, budgetary expenditures, revenues, assets and liabilities.
  • ANALYZE Canada's budgetary system - expenditure management system and tax system - from theoretical and practical perspectives.
  • EVALUATE the state of Canada's budgetary systems and its impact on democracy and public trust in Canada's parliamentary institutions.

Who Should Attend:

Professionals from all levels of the public sector who have financial management responsibilities.

Course Dates:

  • February 27, 28, March 1
  • March 13-15
  • Additional cohorts to be added soon.

Fee: $1,500

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