The Foundational Principles upon Which the Centre for Management Excellence in Public Finance Management is Built "A Comparative Study"

Abstract

The fundamental regulations that govern the administration's effective management and safeguarding of public funds constitute the theoretical underpinnings of the administrative centre of excellence in public funds management. These foundations are linked to the same standards that established the existence of administrative law as a whole and the management of public funds in particular; thus, general philosophical foundations, including public utility theory, public authority theory, and modern theory, emerged. The most meritorious of these theories were the mixed theories whose contents are derived from the theories of public authority and public utility. This is due to the logical norms that this theory establishes regarding the management of public funds for the benefit of the public.  Public ownership and discretionary power may be regarded as the pillars of a unique theory that effectively grants the administration control over its funds, as well as the flexibility and space these theories afford the administration to exercise its privileged position in the management of public funds.