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Integrated Financial & Management Information System (IFMIS)

Integrated Financial & Management Information System (IFMIS). Presented by S. Ramdeen Assistant Accountant General Treasury, MOFED. Min. Min. Min. Min. Min. Min. Dept. Dept. Dept. Dept. The Treasury within the Govt. Government. Min. Finance. Mission.

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Integrated Financial & Management Information System (IFMIS)

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  1. Integrated Financial & Management Information System (IFMIS) Presented by S. Ramdeen Assistant Accountant General Treasury, MOFED

  2. Min. Min. Min. Min. Min. Min. Dept. Dept. Dept. Dept. The Treasury within the Govt Government Min. Finance

  3. 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”

  4. 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

  5. Financial Year 01/07/X1 30/06/X2 31/12/X2 28/02/X3 Financial Statements Prepared Audit of FS Legislative Assembly Accounting System of Government • Cash Basis (or rather Modified Basis) • Finance and Audit Act and other relevant Legislation • Financial Management Manual Timeframe

  6. Treasury Accounting System (TAS) 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

  7. Treasury Accounting System (TAS) • Government Accounting System • Oracle Financials ~ One of Leading ERP • 180 PCs connected • Closed Network • Centralised and Integrated System

  8. TAS NETWORK Ministries & Departments TREASURY GAO MOF Income Tax VAT CSO Revenue Authority

  9. Mauritius Automated Clearing and Settlement System (BOM) Pension System Loan System Passage System The Treasury IT System Oracle Financials GL, AP, AR & CM

  10. Cost per School • Cost per Hospital/AHC • Expenditure • Projects Moving towards Management Accounting Chart of Accounts Traditional Acc. Management Accounting Expenditure/Revenue Analysis Cost Centers

  11. Achievement of TAS Before After Receipts and Payments Available after One Month Available Daily Excess Possible Absolute Control Funds Control Monthly Accounts Available Appx 3 Months Available Within 1 Week Available Appx 5 Months Available 2 Months Yearly Accounts Cash Flow Management Idle Cash No Idle Cash Manually Compiled On-Line Budget Monitoring Not Available Available MIS Appx 4 to 5 Months Appx 1 Month Audit

  12. Main Reports of the ISMS • Recurrent Revenue • Monthly Forecast of Recurrent Revenue • Summary of Monthly Forecast • Statement of Actual Recurrent Revenue • Recurrent Expenditure • Monthly forecast of Recurrent Expenditure • Monthly Actual Recurrent Expenditure - item wise • Expenditure by Economic Classification • Expenditure summary by Ministry

  13. Main Reports of the ISMS • Capital Revenue • Monthly Forecast of Capital Revenue • Statement of Actual Capital Revenue • Capital Expenditure • Monthly Forecast of Capital Expenditure • Statement of Actual Capital Expenditure

  14. 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

  15. Future Strategy • Asset Management and Accounting • Accruals Accounting • Overseas Missions Accounting • MTEF • Interface with the Central Personnel System • Payroll Module • Budget Module

  16. 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’

  17. Important • No Financial or Technical expertise solicited • Implemented within 5 months

  18. Integrated Financial & Management Information System (IFMIS) Presented by S. Ramdeen Treasury Ministry of Finance & Economic Development Republic of Mauritius

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