The Government's budget plays a significant role in the management of the nation's economy and controls the management and allocation of resources across government. This article examines the four stages of the budgetary cycle: preparation, enactment, execution, and accounting and audit, noting that each stage of this cycle creates records that provide the evidence that is needed for accountability. It argues that transparency and accountability are only possible when well managed financial records exist at each stage of the budgetary cycle. The article explores the nature of the challenges, such as issues that arise by non-enforcement of the laws governing the management of financial records, and difficulties encountered with the legal framework for records management. The article concludes that the proper management and control of public funds must be linked to proper records management as an essential requirement of democratic governance. The history and role of the Select Committees of the Ghana Parliament and the records that they create are also explored.