This presentation explains how value for money works in terms of delivering program spending.

1. HOW DO YOU GET
MAXIMUM VALUE FROM
GOVERNMENT TAXATION
PAUL YOUNG CPA, CGA
MARCH 6, 2018

2. AUTHOR – PAUL YOUNG CPA, CGA
• 27+ years of corporate finance, business process changes and internal audit/control
• 12+ years of building financial solutions
• Streamlined business process including reporting using analytical tools
• Implemented cost to serve models (Pricing models)
• Blogger in areas like financial solutions, cost control, management/regulatory reporting, risk
management and government policies
• Academia experience in areas like advance accounting, advance management information
system, financial performance management training/solutions and public finance

3. AGENDA/ VALUE FOR MONEY
• Money Flow / Government
• What it is?
• How it works?
• Drawbacks ?
• Strategy

4. MONEY FLOW GOVERNMENT
Taxation
• Personal Income Tax
• Corporate Income Tax
• Consumption Tax
• Excise/Duties
• Other Taxation
Government Funds
• Social Security (Pension)
• Unemployment
• Social Welfare (Child benefits
• Direct Program Spending
• Healthcare
• Education
• Public Safety
• Immigration
• Foreign Affairs
• Environment

5. WHAT IS VALUE FOR MONEY
Independent audit of a not-for-profit
organization (government agency or unit,
charity, trust, etc.) to assess the
effectiveness and efficiency of its utilization
of funds. It is employed where the
standard commercial performance (profit
oriented) measures cannot be used. Also
called value for money analysis.
Source -
http://www.businessdictionary.com/definitio
n/value-for-money-audit.html

6. WHY IS VALUE FOR MONEY AUDIT IMPORTANT
• Ensure programs are deliver in cost effective and efficient manner
• Identified ways to improve the delivery of program pending
• Governments are under pressure to deliver quality programs without increasing
taxation

7. PROBLEMS WITH VALUE FOR MONEY
It’s no accident that private sector business owners rarely turn to their auditors to run the business. Auditors are
trained to provide assurance that firms are presenting their financial results in a fair and complete way. No one
expects auditors to comment on how to negotiate a contract, hire a CEO, or launch a new product. Business
owners know that auditors are not competent to do these things. Rather, they rely on professional managers to
run the business. – MacLean's – June 5, 2015
This is not to say that value for money is unimportant when taxpayer dollars are being spent in the public
interest. It is a key responsibility of public servants. But to assess the substantive results achieved by
government programs and how they measure up against targets requires subject matter and management
expertise that auditor general staffs rarely possess. MacLean's – June 5, 2015

8. WYNNE AND VALUE FOR MONEY
Government role is deliver program spending economical viable way. This
approach is called value for money. Show me where Wynne has deliver value
for money?
http://www.cbc.ca/news/canada/sudbury/north-east-lhin-gets-failing-grade-
from-auditor-general-1.3350481
or
http://www.cbc.ca/news/canada/toronto/ontario-auditor-general-2017-
report-1.4435503
Is this a lie

9. SUMMARY
• Government and Private Sector
• Operational audits are becoming very important for business and government
• Many teams in the private sector, especially consulting groups have members with diverse backgrounds
• Value for money
• More governments need to perform value for money audits
• Teams need to include people with right background in areas of program spending (i.e. engineers,
healthcare, education, etc.
• Government needs to ensure money is spent in efficient and effective manner