Financial%20Management%20and%20Accountability - PowerPoint PPT Presentation

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Financial%20Management%20and%20Accountability

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Title: Designing and Implementing Information Systems for Government Fiscal Management Author: World Bank User Last modified by: World Bank User Created Date – PowerPoint PPT presentation

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Title: Financial%20Management%20and%20Accountability


1
Financial Management and Accountability
  • A Presentation by
  • Malcolm Holmes
  • PRMPS

2
Financial Management Accountability
  • Matching Authority and Accountability
  • Transparency
  • IMF Fiscal Code
  • Auditing
  • Financial Management Information Systems

3
Reporting to Parliament
  • Budget Policy Statements
  • Fiscal
  • Programmatic
  • Budget Documents
  • Budget Execution
  • Departmental Annual Reports

4
Auditing
  • Independence
  • Timeliness of Reports
  • Financial
  • Performance
  • Parliamentary Consideration
  • Committee
  • Whole
  • Executive Action

5
Financial Management Information Systems
  • Underpin decisions on and scrutiny and management
    of
  • Fiscal Policy
  • Resource Allocation
  • Resource Use

6
Information systems provide public sector
decision makers and managers a set of tools to
  • Design fiscal and monetary responses to changing
    macro-economic conditions
  • Design systems to ensure accountability
  • Enable decentralization without losing control
  • Improve effectiveness and efficiency of programs
  • Mobilize and manage domestic external resources
  • Manage the civil service

7
Why Automated Information Systems for GFM
  • Large number of transactions in limited periods
    of time across a country wide network of offices
  • Retrieving information from manual records and
    classifying it in a form suitable for decision
    making is difficult
  • Without automation the basic data required for
    economic management may simply not be available
    in a timely manner

8
GFM systems modules
  • Macro-economic forecasting
  • Budget preparation
  • Budget execution and fiscal reporting
  • Core government accounting
  • Cash management
  • Debt management
  • Revenue administration
  • Civil service management
  • Auditing

9
The Treasury System
  • Information systems for budget execution,
    accounting, fiscal reporting and cash management
  • Primary repository of financial data - basis of
    the Governments FMIS

10
Key functions of a Treasury System
  • Better cash management by putting all government
    resources under the control of the treasury
  • Ensures that budgetary expenditures are in
    accordance with approved budget by instituting
    appropriate controls
  • Accounting and reporting for better financial
    management

11
Budget Execution Processes and Information Flows
MOF

  • Cash requirements forecast


  • Spending limits, funds allocations
  • Budget appropriations
    Instructions to
    Central Bank to pay




  • Budget
    appropriations, Spending limits for subordinate
    units Receipts Commitment/verification and
    payment transactions
    Daily file showing receipts and
    payments
  • Financial
    /Accounting Reports from Treasury
  • Provide accounting and reporting functions for
    spending agencies and MOF

Commercial Banks
Spending Ministries/ Subordinate units
Treasury
Treasury System
Central Bank
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