It has been recognized that financial management plays a catalytic role in the process of economic growth and development. As the economy growth the financial become on increasingly deep and broad its structure also become increasingly sophisticated. The operation of government accounting is governed by certain rules and regulations which are subjected to review or amendment in line with polities social or economic changes. Some of these rules and regulation include, Financial Control and Management Act 1950 as amended by the Audit Act of and Constitution framework.
TABLE OF CONTENT
Table of content
1.1Background of the study
1.2Problem of the research
1.3Aim and Objective of the study
1.4Scope and limitation of the study
1.6Significance of the study
1.8Plan of the study
1.9Definition of terms
CHAPTER TWO: Literature review
2.1 Definition of local government
2.2 Features of local government
2.3 Local Government Objective
2.4 Sources of Local Government
2.5 Financial Management Role
2.6 Impact of financial management in local government
2.7 Impact of financial management in local government
CHAPTER THREE Research Methodology
3.2 Data collection instruction
3.3 Random sampling
3.4 Population sampling
3.5 Organization structure Ilorin West Local Government
CHAPTER FOUR: Data presentation and Analysis
4.2 Analysis of questionnaire
4.3 Interpretation of the finding
CHAPTER FIVE: Summary, Conclusion and recommendation
5.1 Summary of findings
1.1 BACKGROUND OF THE STUDY
In the past local government have less to perform probably among other reason because the people were not all that conscious of their right of having a fair share of government resources. Nowadays, the political awareness of the people has greatly improved.
Consequently they have becoming more conscious of the heeded for better environment and good condition of living these community continue to put pressure or to pressurize of the local government for more social amenities.
Unfortunately, the local government is concentrated by law to satisfy the people needs since its resources and search in relation to their increased demand.
All the same local government in duly bound and under the obligation to provide it citizens with certain basic services this task gave rise to the ineluctable question of efficient financial management. The measurement of public accountability.
In addition, to access the impact of leadership in the development of an area, and also to access the management in the operation of both human and non human resources.
1.2 PROBLEM OF THE RESEARCH
This research work is carried out in order to establish the fact that financial management make contribution into local government administration.
There is usually inefficiency in the financial management and as a result into confusion which inappropriate in local government. This cause set back in financial management central. In some organization which does not allow the research to have enough information about the financial statement of accounting system, there is not yet proper understanding in appropriate derived from financial management is greater than to providing this information for the research.
The major problem encountered as regard this research is from responded.
Most local government are not willing to disclose information, especially because of the fact that, it has to do with accountings. They do not want to give any information about their accounting system they feel it may have an implication on them.
1.3 AIMS AND OBJECTIVES OF STUDY
The sole aim of this research is to consider efficiency of the financial management control measure in local government administration. However, the purpose of the study is to sole efficiency and deficiency of the financial management, the local government administration is the system that is to encourages all the local government administration to practice the efficient of financial management. And other purpose of the study is to show some impact of the leadership in the development of an area.
1.4 SCOPE AND LIMITATION OF THE STUDY
This study will mainly focus in the financial management in Nigeria local government as at 2009 to 2010 both negatively and positively. However, certain limitation need to be recognized from the on set.
This research is confined to only local government in Kwara State Ilorin West Local Government, but since that method of random sampling was used in choosing the local government, the conclusion and generalization will be applied to all local government in Nigeria.
However, it is noteworthy for the research to give me assurance that all effort I made to overcome the constrain, or limitation stated.
i.The research is focus on the financial management control measure in local lack of experienced offices to handle vital duties of revenue.
ii.Delay is release fund to the local government by the federal and the state governments.
There are seven hundred and seventy four (774) local government in Nigeria but this study will be restricted to only Kwara State, it will be restricted to a selected local government which is Ilorin West Local Government.
1.5 RESEARCH HYPOTHESIS
The analysis of the data was based on the descriptive approach of the question are distributed the descriptive analysis was need to analyze the secondary data collection such as financial management.
In order to make the analysis more clearer to the researchers and the public, the data gathered would be represented in form of a tabular representation for easy and accurate understanding, to enable everybody arrive at a reasonable conclusion.
Ho: Local government do not contribute to economic growth of the nations.
Hi: Local government contribute to economic growth of the nations.
1.6 SIGNIFICANCE OF THE STUDY
The sources of any local government council depends to a great deal on the management of financial obviously. Money is the life and blood of all government activities likewise over body.
It is in realization of this fact management tired to adopt effective financial administration order to achieve the aim and objective of the local government.
In summary, the administrative role of local government is concerned with how decision are made and implemented. The existence of local government facilitate and efficient and effective planning recruitment of capable personal and payment of wages and salaries to the local government workers.
It is duty of local government to see that the revenue and other find of local government is applied to administrative development and welfare of the inhabitants and to see that financial policy of the local government is carried out accordingly.
1.7 RESEARCH METHODOLOGY
The research methodology in this chapter involves all the methods and ways which financial management can be evaluated (Ilorin West Local Government as the case study). As the economic growth the financial aspect became an increasingly deep and broad and its structure also become increasingly sophisticated the financial operation of local government account is governed by certain rules and regulation which are subjected for amendment or review in line with politics social and economic changes. These are other financial issues of local government is comprehensively discussed in this project.
1.8 PLAN OF THE STUDY
The research work has been divided into five chapter for case presentation of the fact and figure gathered.
Chapter one contain the introduction, problem of the research, aim and objectives, scope and limitation of the study. Significance of the study, research methodology, research hypothesis, plan of the study definition of terms.
Chapter two treats past and current literature review which includes, definition of local government, local government objective, source of local government revenue, financial management role impact of financial management in local government.
Chapter three highlight research method and case study effort on the topic which includes, research methodology, method of data collection, random sampling, population sampling.
Chapter four discusses the presentation and structural of Ilorin West Local Government, data analysis and presentation of finding, interpretation of findings, result of hypothesis.
Finally, chapter five throw light on the summary of finding recommendation.