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The Resource Management Framework helps Ministries account for the full cost of using public funds, including the cost of capital. It consists of three pillars: Resource Accounting, Resource Budgeting and Net Economic Value.
The basic expenditure policy of the Public Service is to have operational efficiency and clear accountability of the budget allotted, and to promote sustained and non-inflationary economic growth.
To achieve “more for the dollar”, Singapore’s budgeting system has evolved from line-based budgeting to a block budget system, where Ministries have the autonomy and flexibility to determine the best means to achieve their strategic outcomes with the resources allocated to them. Budgeting flexibilities enable better cash flow management. Ministries also have the flexibility to access additional funds through the net budgeting mechanism. |
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