International Journal of Advanced Research and Development

Authors
Florin Shelomith Soans, Dr. Shripathi Kalluraya KP

Abstract
This paper attempts to present the local governments executives with a number of options to consider as they deal with the complex and ever changing questions of financial management for the local development. The paper provides local government officials quick access to a framework of ideas and suggestions that work within the hierarchy of financial management. Finance is immensely important in the running of organizations or governments. Local governments need financial resources to carry out their constitutional responsibilities as regards providing social services as well as mobilizing available resources for effective rural development and good governance at the grass root level. This paper which deals with efficient financial management in local governments was written to articulate and discuss the instruments that will help the local government to manage their funds adequately and be able to perform their statutory duties accordingly. A thorough adoption and application of approaches will improve financial management of local governments and enhance the quality of service delivery at the grass root based on the source of data and objectives which is discussed.