Budgetary Control and Performance in Public Corporations in Osun State

Abstract

This study examined the budgetary control and performance in government parastals in Osun state, Nigeria. The primary objective was to determine the relationship between revenues and expenditures estimates and actuals. Five parastals were sampled using budgetary performance for five fiscal years (2007-2011). The Pearson Product Moment Correlation was used to determine the existence of relationship. Findings revealed that there existed strong and weak negative relationship in the revenues and expenditures of the establishments over the periods selected, viz: Agricultural Corporation-0.28 (weak), Broadcasting Corporation-0.58 (strong), College of Education-0.41 (weak), Property Development Corporation-0.64 (strong) and Water Corporation-0.33 (weak). It is the opinion of this research to recommend that the budgeting process in those corporations needs a re-engineering to reflect the true picture of their fiscal ability and to be a guide to action and performance.