Abstract:
The South African Government has introduced some reforms with the aim and
purpose of putting right the historical imbalances and ensuring fair distribution
of resources. Some of the reforms that have been brought about relate to the effective management of public funds, in particular budget reforms. The transformation
and modernisation of public financial management in South Africa were
based on key elements such as transparency, accountability and the integration of
policies that led to a comprehensive budgeting system aimed at accelerating service delivery. Compilation of budgets changed from the typical annual budgeting to a multi-year budgeting system.
The paper analyses the transformation and modernisation of public financial
management environment, the current financial legislative framework within which
public officials operate and examines the different budgeting systems applied and
the impact these have on service delivery in South Africa.
