The Executive Chairman, Itire Ikate Local Council Development Area, LCDA, Hon. Dr. Ahmed Olanrewaju Apatira held a Mid-Year Budget Review tagged Budget of Rethinking, Development and Stability on Monday at the Council Hall.
The Council Chairman welcomed all the participants to the event and described that Budgeting provides a systematic way of reviewing estimates with actual results, coordinating future activities and setting realistic targets. It is also an effective management tool that has the benefit of providing the time frame required to control finances and also to highlighting cash flow shortages/ financing requirements.
The Head, Budget, Planning, Research and Statistics Department of the Council, Mrs Bello Adebimpe Emilola, stated that the Budget Review should be done quarterly to analyze how actual financial performance should compare with projected budget.
In the review session, All Heads of Departments and units were asked to defend their budgets for the just concluded quarter for adjustments and additions to the various departmental votes.
The Vote of Thanks was observed by the Supervisor for Budget, Hon Wale Oyefeso.
The Event had the Members of the Executive Cabinet, Management Team and Staffs of the Budget, Planning, Research and Statistics Department.
Public Affairs Unit
Itire Ikate Local Council Development Area
