1. Financial Management and Accountability
A Presentation by
Malcolm Holmes
PRMPS
11/16/2018

2. Financial Management & Accountability
Matching Authority and Accountability
Transparency
IMF Fiscal Code
Auditing
Financial Management Information Systems
11/16/2018

3. Reporting to Parliament
Budget Policy Statements
Fiscal
Programmatic
Budget Documents
Budget Execution
Departmental Annual Reports
11/16/2018

4. Auditing Independence Timeliness of Reports
Financial
Performance
Parliamentary Consideration
Committee
Whole
Executive Action
11/16/2018

5. Financial Management Information Systems
Underpin decisions on and scrutiny and management of:
Fiscal Policy
Resource Allocation
Resource Use
11/16/2018

6. *
07/16/96
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
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7. Why Automated Information Systems for GFM:*
07/16/96
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
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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
11/16/2018

9. The Treasury System
Information systems for budget execution, accounting, fiscal reporting and cash management
Primary repository of financial data - basis of the Government’s FMIS
11/16/2018

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
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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
11/16/2018