Smart Financial Policymaking Based on the Annual Budget Approach

Abstract

This study was conducted with the aim of designing and analyzing smart financial policymaking based on the annual budget approach within the education sector. The research employed a mixed-methods design (qualitative–quantitative), using an exploratory sequential approach. The statistical population included scholarly articles and scientific documents related to the topic, which were extracted using the meta-synthesis method and thematic analysis. Subsequently, interpretive structural modeling (ISM), the Decision-Making Trial and Evaluation Laboratory (DEMATEL) method for measuring dependencies, rank-based cluster mapping, and the Analytic Network Process (ANP) for determining the relative weight of components were applied. The findings revealed that inter-organizational participation and communication, with a relative weight of 0.3576, is the most critical component in the success of this policy, as inter-agency collaboration plays a key role in improving financial processes. Data analysis, evaluation, training, and capacity building were identified as subsequent priorities, requiring further enhancement. While information systems and technology, financial resource management, and process planning had lower relative priority, they still serve as important supportive elements in the effective implementation of policies. Ultimately, the study emphasized the significance of addressing all dimensions and ensuring coordination among them in the implementation of a smart annual budget. The findings demonstrate that to increase the effectiveness of financial policies, improving both internal and external communication and strengthening human capacity are among the primary priorities.