ABSTRACT
The local Government is an indivisible agent of federal State government in carrying out this Administrative work in rural places in selected local government. The theme of this research is “financial management and Accountability in selected local government Area of Imo Statepersonally considered this inevitable because of the numerous roles played in the urban areas in the country. There is no existence of any local government without rural development Nigeria is a rich nation blessed with many natural resources is through which they generate a lot of money half of this money is embezzled by the government in Nigeria there was then the sharing of allocation from the federal government to the local government. The local government therefore contributes to the development of the rural areas with the social amenities, bringing peace and harmony among the citizens with the provision of policy. However, the result of the role of Local government in the development of rural areas in Nigeria is a result of the financial budget and allocation portioned to the various local governments.
CHAPTER ONE
1.0INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Financial management constitutes the most crucial and central aspect in the administrative process of the local government system. This is due largely to the fact that finance determines the amount of services, development and quality and quantity of personnel provided by the local government.
However, the amount of revenue available to the local government and it’s accountability makes for efficient and effective local government system. Financial and it’s management is a sensitive area in government, and it’s strictly governed and guided by elaborate rules, regulation and guideline. Apparently, budgeting is the central activity in financial management, it includes the financial plan systematically designed showing details of the governments anticipated revenue and expenditure for a fixed period of time, which forms the basic and guide of government activities during the period.
Greater emphasis is always placed on the financial management, as the pedestal machinery for development and total governance in the local government administration. It equally in skills a level of financial display on the leadership execution and performance evolution. Furthermore, it is believed that financial management held’s the prospect of creating many opportunities, full exploitation of revenue sources available within the local government area. This can subsequently create for mobilization and expansion of commercial activities. In addition and embezzlement associated with the local government system.