Professional Documents
Culture Documents
1
Introduction
IFMIS: WHAT IT IS
A financial management information
system,
or
integrated
financial
management information system
(IFMIS), is an information system that
tracks
financial
events
and
summarizes financial information. In
its basic form, an IFMIS is little more
than
an
accounting
system
configured to operate according to
the needs and specifications of the
Step
Step
Step
Step
Step
Step
Step
Step
0: Budget Preparation
1: Budget authorization management
2: Commitment of Funds
3: Receipts and Payment Management
4: Cash Management
5: Debt and ODA Management
6:Budget Review and Fiscal Planning
7: Audit and Evaluation
Features of FMIS
It is a management tool.
It should provide a wide range of
nonfinancial and financial
information.
It is a system.
Modules of an FMIS
Core modules include:
General ledger;
Budgetary accounting;
Accounts payable;
Accounts receivable.
Non-core Modules include:
Payroll system;
Budget development;
Procurement;
Project ledger;
Asset module.
Noncore/other modules
2.1. Payroll system
Some personnel and payroll systems are integrated
modules of an FMIS. Another option is to keep the
payroll system as a separate system with an interface
with the FMIS. The minimum requirements are that
the payroll systems must contain the information
needed to process payments of the payroll through
the FMIS. All payments and receipts should be
captured in the IFMIS. Some of the data needed are:
Benefit items for each employee: basic salary, professional
or family allowances, and deductions such as for income
tax, health insurance, pensions;
2.6. Purchase or
procurement
The system allows the input of
commitment approval levels, records
the full or partial discharge of
commitments,
and
shows
outstanding commitments at any
given time. (The discharge of
commitments would be controlled by
the A/P module.)
Stage 1: Preparatory
Stage 2: Design
Stage 3: Procurement
Stage 4: Customisation, pilot, and
implementation
Stage 1: Preparatory
Preliminary concept design including an
institutional and organisational
assessment.
Analysis of the key problem areas and
ongoing reform programmes.
Feasibility study.
Design project and draft project proposal.
Formal approval of the project securing
government approval and donors funding.
Stage 2: Design
Develop functional specification.
Outline information technology (IT)
strategy, including hardware and
organisational issues.
Prepare tender documents.
Stage 3: Procurement
Issue tenders for hardware and
software and associated
requirements.
Evaluation of bids and award
contract.
Stage 4: Implementation