Abstract:
The study examined budgets implementation performance in Ondo State Public Sectors with a view to curtailing its attendant problems. The study evaluates approved budget and budget implementation, examine the level of budget implementation between 2005 and 2014 with budget approved, identify the factors militating against budget implementation and ways to improve budget implementation in the state. The study adopted stratified sampling technique. The collated data were analyzed using descriptive statistics and panel regression. In this regards the public sector in Ondo State were classified into six categories after which in-depth study and assessment was based. The classified sectors are administrative, regional, economic, social services, law and justice and debt repayment sectors. The study reveals that 125% of the total budget approved was implemented in 2005. 86% and 96% were implemented in 2006 and 2007 respectively. In the same vein 95% of the total budget approved was implemented for year 2008. In 2009, 2010 and 2011, 62%, 71% and 57% was implemented. 56%, 55% and 57% was equally implemented for year 2012, 2013 and 2014 respectively. In aggregate, N721.06bilion (68%) of the total budget approved for a period of ten years was implemented. The results showed that there is a positive and strong significant relationship between total approved budget and budget implemented from 2005 to 2014 in the State, given the correlation coefficient of 0.908 (P < 0.05). It was also observed across the sectors that economic, social service, law and justice, and debt repayment/services had strong, positive and significant relationship in their total budget approved and total budget implemented by coefficient values of 0.88, 0.96, 0.97 and 0.86 respectively and they are all significant at 1% level of probability. The Study established that effective budget preparation and implementation is a function of adequate data collection, transparency, stable government policies, effective planning and competent human resources. The study therefore concludes that poor budget formulation must be guided against; by involving sectors/communities that are direct beneficiary of the budget; and the revenue generation of the state should be diversified to provide funding of the budget.
