TABLE OF CONTENTS

Title page

Approval page - - - - - … - ………i

Dedication - - - - …… - - - … - …ii

Acknowledgement - - - - - … - …… - …iii

Abstract - - - - …… - - ……… - - - …iv

Table of contents - - - - ………… - - - - - - v

CHAPTER ONE:

10 Key words / introduction - - - - - - - …1

11 Background of the study - - …… - - - - ……1

12 Statement of problem - - - - - …… - …4

13 Objective of the study - - - - - - - 4

14 Research Question - - - - - - …………5

15 Hypotheses of the study - - - - - - ……5

16 Significant of the study - - - - - - ……6

17 Scope and limitation - - - - - - ………7

18 Definition of terms - - - - - - - …8

CHAPTER TWO

20 Review of related literature - - - - - - 10

21 Budgeting and budgets - - - - - - ……10

22 Current literature on theories models - - - - ……19

23 Empirical study - - - ………………21

24 Features of budgets… - - ……23

25 Budgetary control - …… - - ………37

27 Advantage of zero based budgeting - - - - ……44

28 Disadvantage of zero based budgeting - … ……44

CHAPTER THREE:

30 Research Methodology - - … - …48

31 Research design - - - - ……48

32 Source of data - - … - - - 49

33 Population of the study - - - - - 50

34 Sample / sampling technique - - - ……51

35 Instrument for data collection - … - … - - 53

36 Reliability / validity of research instrument - … …… - …54

37 Method of data Analysis - - - - - …54

38 Decision criterio validation of hypothesis - - - ……55

CHAPTER FOUR:

40 Data Presentation and Analysis - - - …56

41 Data presentation - - - - - - - - 56

42 Testing Hypothesis - - - - - - 75

CHAPTER FIVE:

50 Summary of Findings / Conclusion and Recommendation …… - 87

51 Summary of Findings - - - - - - - - - 87

52 Conclusion - - - - - - - - - - 88

53 Recommendation - - - - - - - - ……53

References - - - - - - - - - - 91

Appendix 1 - - - - - - - - - - 93

Questionnaires - - - - - - - - - ……94

CHAPTER ONE

10 INTRODUCTION

11 BACKGROUND OF THE STUDY

The efficiency and effectiveness of the operations of a business

depends on the control available to management in almost every business organization, there are a number of activities going on at the same time such as producing, purchasing, distributing, selling and financing a product These are interrelated in such a way that they affect the attainment of the organization goals

The institution of cost and management accountant(ICMA)defined budget as a financial or quantitative statement prepared and approved prior to defined period of time of the policy to be pursed during the period for the purpose of attaining a given objectives It may include income, expenditure and the employment capital

Therefore in order to achieve these objectives or goals, the

organization must economize resources and discover the means of achieving these goals These goals can only be realized when the property planned use of available resource are controlled and co-ordinate effectively Thus a system of managing a business by making forecast of the different

activities and applying a financial to each forecast becomes imperative These forecasts

Are guided by the information and adoption of planned system such as techniques in budgeting, variance analysis Etc

Pandy (2008) defines budgeting control as the establishment of departmental budget relating the responsibilities of the executive to the requirement of a policy, and the continuous comparison of actual budgeted result either to secure by individual actions The objective of that policy is to provide a firm basis for its revision

Osisoma, (2000) opined that budgeting is a systematic and formalized approach for accomplishing the planning, co-ordination and control responsibilities of management It is a process of preparing in advance of the period to which it relates a summary statement of plans expressed in quantitative terms, which if utilized with sophistication and good judgment, would enhance the attainment of an organization's objectives A budget therefore, is a plan quantified in monetary terms, prepared and approved prior to a defined period of time, usually showing planned income to be generated and /or expenditure to be incurred during that period, and the capital to be employed to attain a given objectives

A budgetary control is described by lacey, (2002) as a quantitative expression of a plan of action prepared in advance of the period to which it relates Budget may be prepared for the business as a whole, for Departments, for functions such as sales and production, or for financial and resources items such as cash, capital expenditure, manpower, purchase Etc the process of preparing and agreeing budgets is a means of translating the overall objectives of the organization into detailed, feasible plans of action It is therefore, germane to say that the level of importance that is attached in this plan and effort made in controlling the finance differ in organizations Once the goals are set, which must be based on the detailed analysis of feasibility within the content of the political and social value the plans will enable it to strive towards its attachment

Often than not when these plans are put into operation, conditions prevail which trends to cause deviation from the plan and corrective measures are always taken to steer the business back on the right track The process already mentioned as it is applied entailed budget and its control And to lend credence to goal congruence suitable techniques should be applied to specific areas that need special attention hence measurement of budgeted with actual to arrive at the finance cannot be over emphasized A business is said to be on the right track if the outcome of the budgeted estimate is favorable as against the actual The little that is said concerning this project has encompassed all avenues in which the subject can aid management decision, rather it should be seen as a guide for people

Business

12 STATEMENT OF THE PROBLEM

The growth of the business hinges, or better put, rests squarely units

Budgetary control system or techniques hence they are considered as vital tools in any business situation This study then is aimed at assessing and evaluating the event to which budgetary control has been a tool for the growth and global realization of any organization

Lack of budgets in planning and control has required in the indiscriminate use of fund meant for more viable activities Again the inability of many companies to plan and accomplished budget goals is traceable to their inability to apply controls in their budget system

Budgetary goals are not realized due to low level of understanding of the budget system by middle and low level of management staff Other problems are shortage of stocks and shut down These and many more are some of the problem of lack of budgeting control

13 OBJECTIVE OF THE STUDY

The primary purpose of this study is four fold They include the

Following

i To determine if budgeting and budgetary control affect the quality of service delivery in government parastatals

ii To determine if there is a connection between the type of budget implemented and their actual performance

iii To determine whether or not budgetary controls as a management tools contribute to the improvement of management efficiency and high productivity

iv To find out the use of the budgetary controls as an appraisal parameter for assessing managers budget

14 RESEARCH QUESTIONS

i Does budgeting and budgetary controls affect the quantity of services delivery in government parastatals?

ii What are the connection between the type of budget implemented and their actual performance?

iii How can budgetary control as management tools contribute to the improvement of management efficiency and high productivity?

iv How can budgetary control be used for assessing Manager's budget?

15 HYPOTHESIS OF THE STUDY

1 H0: Budgeting and budgetary control does not affect the quantity of services delivery in government parastatals

H1: Budgeting and budgetary control affect the quantity of

Services delivery in government parastatals

2 H0: Budgeting and budgetary control does not contribute to the improvement of the management efficiency and high productivity

H1: Budgeting and budgetary control contribute to the improvement of the management efficiency and high productivity

3 H0: Budgeting and budgetary control is not used for assessing manager's budget

H1: Budgeting and budgetary control is used for assessing manager's budget

4 H0: There is no connection between the type of budget implemented and actual performance

H1: There is connection between the type of budget implemented and actual performance

16 SIGNIFICANCE OF THE STUDY

Budgeting and Budgetary control is a function that is very important and of great significant to any of organization It is not peculiar to only the manufacturing organization but also necessary to service of the government

The study will contribute towards enhancing profits of the organization, business or an individual It will help to control one's income

Budgeting is necessary to make matters simple and hence life easy to handle

Budgeting guides people towards the allocation of money in different sectors, such as food, shelter, clothing, household expenses, medical care, utilities etc

In case of an annual budget of a nation budgeting makes a blueprint of the overall funds that the concerned government will spend on various sectors, the kinds of tax that would be levied and how the prices of essential commodities would increase or decrease in the month ahead

In summary, this study will be a guide to scholars, researchers or writers who may wish to carry further study on budget and its control apparatus

17 SCOPE AND LIMITATION OF THE STUDY

This study is aimed at finding out the impact of budget and budgetary control in Enugu State Housing Development Corporation

The limiting factors are that of availability of data which might be difficult to obtain following the trend of the attitude of Nigerians with regards to giving out information Time constraints are also a limiting factor in undertaking this study The availability time and short period of the study made it difficult for the researcher to carry out a wider and more through work on the issue, at the same time carryout academic activities

Also literature on the topic as it relate to government parastatals

is very few

18 DEFINITION OF TERMS

The following are defined in the work:

BUDGET: Budget simply means estimate of income and expenditure, which are planned by the organization for a specific future In Britain, it means the annual statement made to the House of Commons by the Chancellor of the Exchequer, giving details of the government financial plans for the coming year

BUDGETING CONTROL: This means a system of managing a business by making forecasts of the different activities and applying of financial value to each forecast Actual performance is subsequently with the estimate

BUDGETING PERIOD: The budget period coincides with accounting period The period varies according to different organization