Public Revenue Reporting and Monitoring
Public Revenue Reporting and Monitoring
The main sources of public revenue are: Taxes and levies such as for e.g. income tax, property tax, sales tax, license fees, import and export duties, levies charged for services etc Earnings from natural resources like oil, gas, minerals etc Loans from other governments, the private sector, or international financial institutions like the International Monetary Fund, World Bank and regional development banks that must eventually be repaid with interest; and Grants-in-aid from other governments, multilateral institutions, international donors, foundations, NGOs or private sector actors, often earmarked for particular humanitarian or development purposes. Public reporting and monitoring involves three components: 1. Component one: Revenue transparency/reporting Governments release or publish financial information through various avenues such as web sites, financial statements and reports, press releases, public bulletin boards, community radio etc. A first step for concerned citizens/CSOs is to determine what types of revenue reports are publicly available. Request copies of these reports while keeping records of all correspondence. Where access to revenue reports is limited, work towards the adoption of right to information legislation including access to public financial information. Partner and build coalitions with sympathetic government officials, concerned NGOs, relevant international bodies and the media to encourage revenue transparency/reporting. Find out and discuss how the government itself views its revenue base and what plans or strategies it has in place regarding taxes, revenues from natural resources, loans, grants, etc. If possible, take a deeper look at each slice of the revenue pie. Consider how important, effective and reliable each one is as a revenue source in terms of their sustainability and equitability.
3. Component two: Monitoring revenues
The main sources of public revenue are: Taxes and levies such as for e.g. income tax, property tax, sales tax, license fees, import and export duties, levies charged for services etc Earnings from natural resources like oil, gas, minerals etc Loans from other governments, the private sector, or international financial institutions like the International Monetary Fund, World Bank and regional development banks that must eventually be repaid with interest; and Grants-in-aid from other governments, multilateral institutions, international donors, foundations, NGOs or private sector actors, often earmarked for particular humanitarian or development purposes. Public reporting and monitoring involves three components: 1. Component one: Revenue transparency/reporting Governments release or publish financial information through various avenues such as web sites, financial statements and reports, press releases, public bulletin boards, community radio etc. A first step for concerned citizens/CSOs is to determine what types of revenue reports are publicly available. Request copies of these reports while keeping records of all correspondence. Where access to revenue reports is limited, work towards the adoption of right to information legislation including access to public financial information. Partner and build coalitions with sympathetic government officials, concerned NGOs, relevant international bodies and the media to encourage revenue transparency/reporting. Find out and discuss how the government itself views its revenue base and what plans or strategies it has in place regarding taxes, revenues from natural resources, loans, grants, etc. If possible, take a deeper look at each slice of the revenue pie. Consider how important, effective and reliable each one is as a revenue source in terms of their sustainability and equitability.
3. Component two: Monitoring revenues