Integrated Financial Management Information System IFMIS Presented by
Integrated Financial & Management Information System (IFMIS) Presented by S. Ramdeen Assistant Accountant General Treasury, MOFED The Treasury, Mauritius
The Treasury within the Govt Government Min. Dept. Min. Finance Min. Dept. The Treasury, Mauritius Min.
Mission “ Striving towards excellence in service delivery through continuous improvement and enhancement” Vision “ To be recognised as a modern organisation providing financial services of international standard” The Treasury, Mauritius
Main Functions of The Treasury • Act as Govt Accountant – Manage daily accounting of all Exp. /Rev. – Prepare Annual Financial Statements – Review Government Accounting System • • Manage Govt’s Cash Flows Monitor Budget Manage Civil Servants Pension System FX management The Treasury, Mauritius
Accounting System of Government • Cash Basis (or rather Modified Basis) • Finance and Audit Act and other relevant Legislation • Financial Management Manual Timeframe Financial Year 01/07/X 1 30/06/X 2 31/12/X 2 28/02/X 3 Financial Statements Audit of FS Prepared The Treasury, Mauritius Legislative Assembly
Evolution of Accounting Software Before 1988 Manual 1988 to 1991 Payment System on Dbase IV for Self-Accounting 1991 to 1993 Payment System ( cheques) on Oracle 6 for Treasury 1993 to 1999 Vote Mgmt System on Oracle 6 for Treasury 1999 to Date Oracle Financials for all Govt. Accounting Treasury Accounting System (TAS) The Treasury, Mauritius
Treasury Accounting System (TAS) • • • Government Accounting System Oracle Financials ~ One of Leading ERP 180 PCs connected Closed Network Centralised and Integrated System The Treasury, Mauritius
TAS NETWORK Ministries & Departments TREASURY GAO Income Tax MOF VAT CSO The Treasury, Mauritius Revenue Authority
The Treasury IT System Mauritius Automated Clearing and Settlement System (BOM) Pension System Oracle Financials GL, AP, AR & CM Passage System The Treasury, Mauritius Loan System
Moving towards Management Accounting Chart of Accounts Traditional Acc. Management Accounting Expenditure/Revenue Analysis Cost Centers • Expenditure • Cost per School • Projects • Cost per Hospital/AHC The Treasury, Mauritius
Achievement of TAS Before After Available after One Month Receipts and Payments Available Daily Excess Possible Funds Control Absolute Control Available Appx 3 Months Monthly Accounts Available Within 1 Week Available Appx 5 Months Yearly Accounts Available 2 Months Idle Cash Flow Management No Idle Cash Manually Compiled Budget Monitoring On-Line Not Available MIS Available Appx 4 to 5 Months Audit Appx 1 Month The Treasury, Mauritius
Main Reports of the ISMS Ø Recurrent Revenue • Monthly Forecast of Recurrent Revenue • Summary of Monthly Forecast • Statement of Actual Recurrent Revenue Ø Recurrent Expenditure • Monthly forecast of Recurrent Expenditure • Monthly Actual Recurrent Expenditure - item wise Ø Expenditure by Economic Classification • Expenditure summary by Ministry The Treasury, Mauritius
Main Reports of the ISMS Ø Capital Revenue • Monthly Forecast of Capital Revenue • Statement of Actual Capital Revenue Ø Capital Expenditure • Monthly Forecast of Capital Expenditure • Statement of Actual Capital Expenditure The Treasury, Mauritius
Success Factors • • Strategic Commitment and Strong Will Treasury Management Knowledge Dedicated Staff Knowledge of Business Processes in Other Departments • Right Solution and Partners • Continuous Training The Treasury, Mauritius
Future Strategy • • Asset Management and Accounting Accruals Accounting Overseas Missions Accounting MTEF Interface with the Central Personnel System Payroll Module Budget Module The Treasury, Mauritius
Extract from WB 2004 Report • “The Accountant General’s office recently introduced a state of the art computerised system using Oracle Financials, which has forced the Government to update expenditure information. The Public Finance Section of the Ministry of Finance can now access information in the accounting system at any time. During the year, Ministries are able to reallocate funds between recurrent items of expenditure and capital projects as long as the total budget is not exceeded. Overall compliance with public finance rules and regulations is strong’ The Treasury, Mauritius
Important • No Financial or Technical expertise solicited • Implemented within 5 months The Treasury, Mauritius
Integrated Financial & Management Information System (IFMIS) Presented by S. Ramdeen Treasury Ministry of Finance & Economic Development Republic of Mauritius The Treasury, Mauritius
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