INTRODUCTION
Financial Management is primarily concerned with the management process of planning the provision and effective utilization of funds. In the context of this study, financial management is more than mere receipt and disbursement of funds. It entails the proper use of available resources which are usually limited financial resources for the accomplishment of set goals and objective which would have been arrived at through and arduous and painful process of choosing among various competing and deserving alternative. In taking decision, especially those that have financial implication, local government functionaries are expected to have in very responsible manners, realizing that the are holding fiduciary responsibility on behalf of the public to whom they are accountable. Local government is the lowest tier of government anywhere in the world. It is very important because of its closeness to the people. As a result, it is multipurpose in terms of carrying out social economic services.
