Unlocking the Black Box of Public Finance
A 360° view of the processes and politics of
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
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.
- 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
- 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
- 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.
- February 27, 28, March 1
- March 13-15
- Additional cohorts to be added soon.