Home»Articles»A Review of the Revenue and Expenditure Pattern of Osun State Government between 1997 and 2006
A Review of the Revenue and Expenditure Pattern of Osun State Government between 1997 and 2006
Author : Hassan Afees Olumide and Ajayi AdeolaVolume 4 No.2 July-December 2015 pp 33-41.
Abstract
The study examined the sources of revenue in Osun State. It determined the impact of revenue consultants on the internally generated revenue of Osun State Government, all with a view to surveying the expenditure pattern of the state.In the course of carrying out the study, data were collected primarily through interview method. Four principal officers in the financial sector were interviewed. However, secondary sources of data were collected from Osun State of Nigeria Audited Reports and financial statements for the year ended 31st December, 1997 to 2006. The data generated were analyzed using percentages and pie-chart for illustrations.The findings of the study revealed that the sources of revenue for Osun State Government included Internally Generated Revenue (IGR), Statutory Allocation, Value Added Tax (VAT) and Capital Projects. It also discovered that Statutory Allocation was the dominant sources of government revenue during the period of study. It accounted for 63.69% while IGR was 19.7%, Value Added Tax (VAT) 8.07% and capital Receipts 8.48%.The study also discovered that the Recurrent Expenditure overshot the capital expenditure during the period of study on ratio 7:3 respectively while the state recorded surplus budget in seven times and deficit budgets in 2003 and 2004.The study concluded that the Osun State Government was over dependent on external sources to finance recurrent and capital expenditure during the period of study.
Keywords
References
Asian Journal of Managerial Science (AJMS) is a quarterly international peer-reviewed journal of Managerial Science. One of the objectives of this journal is to disseminate knowledge on various research issues connected with the topics include, but are not limited to:
Accounting, Auditing, Banking, Business strategy, Corporate governance, Entrepreneurship, Financial structure, Capital markets, Health economics, Human resources management, Information systems,Innovation management, Insurance, Marketing, Organization, Production and logistics, Risk management, and Taxation.
The study examined the sources of revenue in Osun State. It determined the impact of revenue consultants on the internally generated revenue of Osun State Government, all with a view to surveying the expenditure pattern of the state.In the course of carrying out the study, data were collected primarily through interview method. Four principal officers in the financial sector were interviewed. However, secondary sources of data were collected from Osun State of Nigeria Audited Reports and financial statements for the year ended 31st December, 1997 to 2006. The data generated were analyzed using percentages and pie-chart for illustrations.The findings of the study revealed that the sources of revenue for Osun State Government included Internally Generated Revenue (IGR), Statutory Allocation, Value Added Tax (VAT) and Capital Projects. It also discovered that Statutory Allocation was the dominant sources of government revenue during the period of study. It accounted for 63.69% while IGR was 19.7%, Value Added Tax (VAT) 8.07% and capital Receipts 8.48%.The study also discovered that the Recurrent Expenditure overshot the capital expenditure during the period of study on ratio 7:3 respectively while the state recorded surplus budget in seven times and deficit budgets in 2003 and 2004.The study concluded that the Osun State Government was over dependent on external sources to finance recurrent and capital expenditure during the period of study.
Editor-in-Chief
Dr. Tan Fee Yean
Department of HRM, Universiti Utara Malaysia, Kedah, Malaysia
[email protected]
Editorial Advisory Board
Dr. Aidil Rizal Bin Shahrin
Department of Finance and Banking, University of Malaya, Malaysia
[email protected]
Dr. Amalendu Bhunia
Department of Commerce, University of Kalyani, West Bengal, India
[email protected]
Dr. Ahmad Zahiruddin Bin Yahya
Department of Accountancy, University of Malaya, Malaysia
[email protected]
Dr. Anil Govindrao Suryavanshi
Department of Commerce & Management, The New college, (Shivaji University), Maharashtra, India
[email protected]
Dr. Ong Lin Dar
Department Of Business Strategy And Policy, University of Malaya, Malaysia
[email protected]
Dr.V.Balachandran
Department of Corporate Secretaryship, Alagappa University,Tamil Nadu, India
[email protected]
Dr. Yeong Wai Chung
Department Of Operation and Management Information, University of Malaya, Malaysia
[email protected]
Prof.V.V.Devi Prasad Kotni
Department of Management Studies,GVP College for Degree & PG Courses, Andhra Pradesh, India
[email protected]
Dr. Quah Chee Heong
Department of Business Strategy and Policy, University of Malaya, Malaysia
[email protected].edu.my
Dr.Subrata Roy
Department of Commerce, Rabindra Mahavidyalaya, West Bengal, India
[email protected]
Dr. Norbani Binti Che Ha
Department of Marketing, University of Malaya, Malaysia
[email protected]
Dr. Tey Lian Seng
Department Of Business Strategy and Policy, University of Malaya, Malaysia
[email protected]
Dr. Mohammad Nazri Bin Mohd Nor
Department of Business Strategy and Policy, University of Malaya, Malaysia
[email protected]
Dr. Binish Qadri
Research Scholar, Department of Economics, Central University of Kashmir, India
[email protected]
Dr. Khaw Lee Hwei
Department of Finance and Banking, University of Malaya, Malaysia
[email protected]
Dr. V. P. Sriram
Department of Management, Balaji Institute of International Business, Maharashtra, India
[email protected]
Dr. Yusniza Binti Kamarulzaman
Department of Marketing, University of Malaya, Malaysia
[email protected]
Dr. Kanagi Kanapathy
Department of Operations and Management Information Systems, University of Malaya, Malaysia
[email protected]
Dr. Abd El Salam Mahmoud Abou Kahf
Department of Commerce, Alexandria University, Egypt
[email protected]
Dr. Wong Sek Khin
Department of Business Strategy and Policy, University of Malaya, Malaysia
[email protected]
Dr. Lee Su Teng
Department of Business Strategy and Policy, University of Malaya, Malaysia
[email protected]
Dr. Phoong Seuk Wai
Department of Operation and Management Information System, University of Malaya, Malaysia
[email protected]
Dr. Dennis Palkon
College of Business, Management, Florida Atlantic University
[email protected]
2016
2015
2014
2013
2012
- Asian Journal of Electrical Sciences(AJES)
- Asian Journal of Computer Science and Technology (AJCST)
- Asian Journal of Information Science and Technology (AJIST)
- Asian Journal of Engineering and Applied Technology (AJEAT)
- Asian Journal of Science and Applied Technology (AJSAT)
- Asian Journal of Managerial Science (AJMS)
- Asian Review of Social Sciences (ARSS)
2011
2010
Table of Contents
Editorial Note
Editor-in-Chief
Dr. Tan Fee Yean
Department of HRM, Universiti Utara Malaysia, Kedah, Malaysia
[email protected]
Editorial Advisory Board
Dr. Aidil Rizal Bin Shahrin
Department of Finance and Banking, University of Malaya, Malaysia
[email protected]
Dr. Amalendu Bhunia
Department of Commerce, University of Kalyani, West Bengal, India
[email protected]
Dr. Ahmad Zahiruddin Bin Yahya
Department of Accountancy, University of Malaya, Malaysia
[email protected]
Dr. Anil Govindrao Suryavanshi
Department of Commerce & Management, The New college, (Shivaji University), Maharashtra, India
[email protected]
Dr. Ong Lin Dar
Department Of Business Strategy And Policy, University of Malaya, Malaysia
[email protected]
Dr.V.Balachandran
Department of Corporate Secretaryship, Alagappa University,Tamil Nadu, India
[email protected]
Dr. Yeong Wai Chung
Department Of Operation and Management Information, University of Malaya, Malaysia
[email protected]
Prof.V.V.Devi Prasad Kotni
Department of Management Studies,GVP College for Degree & PG Courses, Andhra Pradesh, India
[email protected]
Dr. Quah Chee Heong
Department of Business Strategy and Policy, University of Malaya, Malaysia
[email protected].edu.my
Dr.Subrata Roy
Department of Commerce, Rabindra Mahavidyalaya, West Bengal, India
[email protected]
Dr. Norbani Binti Che Ha
Department of Marketing, University of Malaya, Malaysia
[email protected]
Dr. Tey Lian Seng
Department Of Business Strategy and Policy, University of Malaya, Malaysia
[email protected]
Dr. Mohammad Nazri Bin Mohd Nor
Department of Business Strategy and Policy, University of Malaya, Malaysia
[email protected]
Dr. Binish Qadri
Research Scholar, Department of Economics, Central University of Kashmir, India
[email protected]
Dr. Khaw Lee Hwei
Department of Finance and Banking, University of Malaya, Malaysia
[email protected]
Dr. V. P. Sriram
Department of Management, Balaji Institute of International Business, Maharashtra, India
[email protected]
Dr. Yusniza Binti Kamarulzaman
Department of Marketing, University of Malaya, Malaysia
[email protected]
Dr. Kanagi Kanapathy
Department of Operations and Management Information Systems, University of Malaya, Malaysia
[email protected]
Dr. Abd El Salam Mahmoud Abou Kahf
Department of Commerce, Alexandria University, Egypt
[email protected]
Dr. Wong Sek Khin
Department of Business Strategy and Policy, University of Malaya, Malaysia
[email protected]
Dr. Lee Su Teng
Department of Business Strategy and Policy, University of Malaya, Malaysia
[email protected]
Dr. Phoong Seuk Wai
Department of Operation and Management Information System, University of Malaya, Malaysia
[email protected]
Dr. Dennis Palkon
College of Business, Management, Florida Atlantic University
[email protected]
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