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Session 6: Harmonizing and Aligning Financial Management (FM) Arrangements.

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Presentation on theme: "Session 6: Harmonizing and Aligning Financial Management (FM) Arrangements."— Presentation transcript:

1 Session 6: Harmonizing and Aligning Financial Management (FM) Arrangements

2 2/7/2014 Conduct Financial Management Assessments (FMAs) jointly; start with desk review of existing; carry out well defined field work only when necessary Establish a joint quality assurance to ensure DPs accept outputs of others Design the FM framework, systems and arrangements together Agree on the action plan to i) implement the proposed actions or ii) strengthen the system in place; develop a comprehensive FM Capacity Building program for mid-term DPs to offer coordinated support to PCs during implementation of action plan DPs to produce a model MOU which includes some standard language, some options to chose from, and a sections to be filled by FM teams DPs to coordinate supervision/monitoring missions during implementation phase Main Recommendations from the IHP+ Working Group

3 2/7/2014 Steps to harmonized and aligned financial management arrangements At the request of the country, GOV-MOH and active DPs agree to proceed with FM harmonization. FM Team with representatives from donors and government is appointed. Small subset of FM Team (Core FM Team) collects and shares all available, relevant information. Core FM Team conducts desk review, produces inception report, and meets with the FM Team to determine if information is sufficient. Yes, information is sufficient. Field Financial Management Assessment not required, core team produces FM report C ore FM Team agrees/designs common FM arrangements, drafts MOU, and produces action plan for implementation. No, information is not sufficient. Field Financial Management Assessment required See Slide 2 Steps to Producing a Report on FM and outputs ( when additional FM assessment is required) Government & donors complete and sign MoU for common FM arrangements. Government implements action plan; DPs follow-up and support implementation. C ore Team verifies that the system is up and running and start disbursement. Completed in parallel a 6 7 In all cases the final report should include: Proposed action plan for systems and capacity building Proposed single accounting system and Chart of Accounts Content for single set of financial reports Draft ToRs for single external comprehensive audits Proposed draft MOU with salient features of the Common Financial Management Arrangement.

4 2/7/2014 Bottlenecks to Further Progress In order to move ahead with full FM harmonization and alignment, the following challenges must be addressed: Institutionalize harmonization efforts within DPs Create focal points within DPs PCs to joint force within MOH, MOF, Auditor General for the joint work Country Partners to increase demand for harmonization and push back on solo work and parallel systems Mobilizing financial support to implement action plans and coordinating TA

5 2/7/2014 FM Assessment in Sierra Leone: Proposed Harmonization and Alignment Align with Gov. Strategic Plan & Budget Align Finance Administration Functions with Gov. framework/modalities – Merge all FM functions under the DF with oversight from CMO & PS FM system to move to IFMIS when ready A single set of Financial reports based on Gov. Chart of Accounts A single comprehensive Audit, coordinated by office of the Auditor General Simplification of mechanisms & processes (already identified as part of FMA) A comprehensive Capacity Development package to be supported by DPs


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