Financial Management Information System Project

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Project Description:

The project can be described as the design, development and procurement of a new up-to-date comprehensive Financial Management Information System for the financial management of the Federal Government and Autonomous Agencies.

The Federal Government has procured the Oracle ERP Business Applications to replace its legacy expenditure and revenue systems.

The new applications comprise the main accounting systems of the Federal Government namely, payroll, purchasing, accounts payable and receivable, cash management, fixed assets and general ledger.

Vision:

The following are the key vision of the Financial Management Information System

• Internationally recognized Accounting Information System
• State of the Art Accounting Applications Software
• Comprehensive Chart of Accounts for the Federal Government
• Performance based Budgeting
• Standardization of Chart of Accounts Structures in Autonomous Agencies
• Conformity with International Reporting of Government Financial Statistics
• Improved Financial and Management Accounting of the General Federal Budget
• Accounting Decentralization

Objectives:

The system has been implemented to achieve the following objectives

• Interconnectivity of information
• Avoidance of information duplication
• Improving service delivery
• Ensure of Value for Money
• Greater Transparency and Accountability