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Mars Rover landing on Mars
View from Mars Rover

Mars: Getting the financial house in order

“Mr Ferrari, thank you for your hospitality,” began Sophie.

“The meeting was very helpful and clarified the current financial management practices at Mars Colony administration. I will report to Earth Space Governance Body and you will receive their further instructions.”

Sophie sat before the Director in his office. A shuttle was waiting to bring her to the spaceship, ready to depart.

“I suppose that I will see more auditors coming to check our accounts in the future, Ms Borisenkova?”

“Until a few years ago, this is what you would have experienced,” she reassured him, “possibly together with more stringent requirements to review your capital expenditures in advance. As you know, nowadays the new policy orientation at Earth Space Governance Body is a bit different. They aim to make space outposts more responsible for managing their own finances.

“I can’t anticipate their decisions, but I would not be surprised if they make further cuts to transfers to your budget in order to make you more financially judicious.”

After some quick and cordial exchanges, Sophie left.

What do you think of the proposed measures? What other measures could be put in place to control their public financial management while making them more responsible?

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This article is from the free online course:

Understanding Public Financial Management: How Is Your Money Spent?

SOAS University of London