The IT Department’s Policy Pater on FMIS is a document regularly updated and presented to the Senior Management of MEF as and when updated.  The Policy paper contains the information on which much of this web site is based.

The main objectives of FMIS Project implementation are to utilise modern information and communications technology to support and integrate public financial management processes in line with the overall PFM Reform Programme requirements. The system is also intended to provide a database that is a source of data for both formal and management accounting purposes and accessible my many types of user. Moreover, the system will support both a 'core' classification that must be observed by all and optional elements that can be flexible and determined by system users (with whatever safeguards are considered appropriate) There are three major objectives as follows:

    - More Efficient Transaction Processing and Control

• Single point of data entry, storage of data at lowest level, sharing of data, internal control, integrity and security, online/real time processing and internal audit.
• Facilitate resource management and control.
• Address specific Resource Management processing requirements (Salaries, Non Financial, Assets etc)

    - Improved Classification, Valuation, Aggregation & Consolidation

• Standardised sets of Classification, Valuation and Accounting Rules.
• Interrogation and tracking of expenditure
• Timely, comprehensive accurate aggregation, reporting
• Multiple different reporting from single data set
• Consolidation across units
• Creation of Audit trail

    - Analysis for Planning, Budgeting, Decision Making & Monitoring, Reporting

• Production of a wide range of management information and analysis for use in management planning and decision making.
• Production of interim and final budget outturn and financial reports.