More Efficient Expenditure Management
This system will be an integrated software application with the functionalities catering to the requirements of all the departments under the MOFP. An ITMIS will enable the government to prepare financial plans, implement annual budgets, handle cash resource authorization, provide fiscal amounts, and ensure control and accountability of expenditure. The current expenditure management systems are marked by asymmetric information flows that prevent integrated expenditure management, and provide few institutional tools for tracking. These deficiencies contribute to inadequate targeting of public expenditures and thus require redesign and re-engineering in order for informed and timely decision making on public INVESTMENTS to be made.
Implementation of an integrated treasury management information system (ITMIS) will (i) lead to more efficient treasury operations; (ii) enable more informed decision-making on allocation and use of public resources by reducing time lags in, raising the accuracy of, budget preparation, execution, and evaluation; and (iii) aid in better planning and targeting of operations and maintenance expenditures for the new assets created through public INVESTMENTS. ITMIS will also support better planning of needs-based operation and maintenance expenditure for the assets created through large INVESTMENTS.
One particular sub-output here will be configuring ITMIS to support gender-responsive budgeting using available sex-disaggregated data and targeted allocations to line ministries to address identified vulnerabilities to ensure gender equity in fiscal policy-making, fiscal planning, and public expenditure. The ITMIS will also support better planning of needs-based operation and maintenance expenditure for the assets created through the large investments.