Public Governance Series

The European Group for Public Administration (EGPA) successfully organized the EGPA PSG XII Public Sector Financial Management 2023 Spring Workshop at the Faculty of Economics and Business (FEB) in Zagreb on April 27-28, 2023. The workshop brought together prominent experts from various countries to discuss the challenges and opportunities in public sector financial management and reporting.

The workshop featured a lineup of distinguished speakers who shared their expertise and insights on the subject matter. The invited speakers included Danijela Stepić, Chief State Treasurer from the Ministry of Finance (Croatia); Prof. Francesca Manes Rossi from the University of Naples "Federico II" (Italy); Tamara Tarnik, Environmental protection, and sustainable development section head from HEP d.d. (HEP PLC, Croatia's national energy company); Maja Rajačić Pavlović, Strategy Division - Adviser from the Croatian Bank for Reconstruction and Development - HBOR (Croatia); Martina Verić, Head of Funds and Investment firms' supervision Division from the Croatian financial services supervisory agency - HANFA (Croatia); Prof. Susana Jorge from the University of Coimbra (Portugal); Prof. Eugenio Anessi-Pessina from the Università Cattolica del Sacro Cuore (Italy); Prof. Sandra Cohen from Athens University of Economics and Business (Greece); and Judita Cuculić Župa, European Semester Officer from the Representation of the European Commission in Croatia.

The Permanent Study Group XII Public Sector Financial Management, a part of EGPA, organized the workshop to serve as a platform for scholars and practitioners to present, discuss, and debate innovative approaches and tools used in public sector financial management (PFM). The workshop aimed to foster collaboration among participants, share experiences of PFM innovations, and develop both theoretical structures and practical implementations to address financial sustainability and distress in public sector organizations.

The theme of the workshop revolved around the challenges and opportunities facing public sector financial management and reporting. As societal needs surpass the available resources, effective management of government funds and efficient resource allocation becomes crucial. The workshop emphasized the importance of accounting and financial reporting in providing objective, up-to-date information about government performance, resource allocation, and obligations. Participants acknowledged the challenges of financial and non-financial reporting in the evolving user needs environment of public sector entities.

The workshop also highlighted the impact of the Covid-19 crisis on public sector financial management. The pandemic underscored the necessity of strong accounting systems to ensure accountability and aid decision-making. Responding to changing information user needs and the harmonization of public sector entities' reporting were identified as crucial challenges. The European Commission has actively worked towards converging and harmonizing accounting and financial reporting systems among EU Member States. Additionally, the workshop emphasized the need to explore non-financial and sustainability reporting, which plays a vital role in achieving sustainable development goals.

The workshop delved into the emerging field of digitization in public sector financial management. Participants discussed the progress made in digitizing processes and its impact on efficiency, especially during times of crises. They recognized that digital transformation has significantly influenced the accounting profession and highlighted the need for further exploration of its effects and challenges, particularly in public sector accounting, reporting, and management.

The EGPA Spring Workshop 2023 in Zagreb successfully fostered dialogue, knowledge sharing, and collaboration among participants in the field of public sector financial management and reporting. By addressing the challenges and opportunities in this domain, the workshop contributed to advancing research and practice in ensuring financial sustainability and accountability