This chapter explores the role of the finance function and chief finance officer (CFO), in particular in connection with the strategic management of their organization's finances. The CFO must demonstrate significant strength of leadership where the board members and/or management team need to be persuaded to make brave or unpopular strategic decisions. The Public Expenditure and Financial Accountability framework is used by the donors of international aid to assess the system and performance of public financial management within the recipient countries. Public sector organizations frequently work with other public organizations, non-governmental organizations and charities to deliver their desired outputs and outcomes. Very many public services are paid for from money collected as taxes in one form or another. Annual budgeting has a number of benefits for private sector and public sector organizations alike. Financial strategy development in the public sector is largely about determining how a range of agreed services or objectives can be delivered within a finite budget.