Project owner: | Ministry of Finance – General Secretariat of Fiscal Policy |
Implementation body: | Information Society SA |
Project budget: | € 36,068,000 excluding VAT |
What is the object of the project?
The project concerns the reform of the financial and financial management system of the State in order to increase its efficiency. It is the preparation, support and development of an Enterprise Resource Planning (ERP) information system for General Government and Public Administration. With the implementation of the project, the quality and efficiency of financial and budgetary management will be upgraded and the provision of true and reasonable financial information will be ensured.
- Better decision making
- financial and budgetary transparency
- accountability
The unified information system will cover
- all the financial and budgetary functions of the Central Administration
- the Consolidation System of General Government Financial Reports
and will operate in infrastructure of the Public Administration’s Information Systems General Secretariat of the Ministry of Digital Governance.
How will it be implemented?
The project will be implemented through two (2) subprojects:
- Subproject 1: “Reformation of the Financial System in the Central Administration and the rest of the General Government (gov-ERP)”
- Subproject 2: “Management of the technological and operational needs of the main subproject and quality control of deliverables”
What are the benefits of the project?
Benefits for Public Administration
- modernization of the organization and administration of the General Accounting Office of the State and the bodies of the General Government,
- implementation of accrual basis accounting as defined in Presidential Decree 54/2018 as amended and in force
- harmonization of General Government bodies with the current legal and regulatory framework,
- providing practical tools for implementing an effective fiscal policy,
- providing practical tools for evaluating the effectiveness and efficiency of General Government action
Enhancing transparency
- providing valid and reasonable financial information to management, institutional users, resource providers and recipients of services in reducing the processing time of the data required for the operation of the GDFS and the GAO,
- direct recording of transactions and the smooth flow and communication with the other information systems of the GLC,
- interoperability of the System with the systems of other public bodies,
- simplification and improvement of specific financial procedures and the faster and more efficient communication between the involved departments and Bodies
Data quality and accountability
- accounting of General Government transactions in a true, reasonable and uniform manner,
- harmonization of public sector accounting standards, which will bring multiple benefits, such as improving the transparency, accountability and comparability of financial statements and improving the effectiveness of public audits,
- a true and fair view of the general government’s financial position and assets,
- correct assessment of the creditworthiness of the General Government
- facilitation of trader with it,
- obtaining reliable information of any kind for use, both by the various services and by international organizations,
- simplification and facilitation of all forms of controls, increase of productivity
- Convergence of General Government accounting standards with private sector accounting standards and compatibility with other international standards (IPSAS, IFRS, ESA 2010, GFSM 2014)
Efficiency and growth
- improving staff skills,
- increase employee productivity and efficiency,
- increase the safety, but also the transparency of the work,
- improving the working environment of employees in the G.D.F.S. and the GAO,
- providing open budgetary and financial data to interested third parties
- improving budget preparation, implementation and monitoring procedures and aligning them with international practices, in particular with regard to performance budgeting and review of expenditure and activities.
Achieving budgetary objectives
- forecasting and budgeting of expenditure flows for all the bodies of the Central Administration.
- recording of all public cash flows, at all stages of the expenditure, from the initial approval to the end of the expenditure, through intermediaries and services, to the final beneficiary or right holder.
- providing reliable data to all stakeholders, with the aim of optimizing policies and defending the public interest.
- effective procedures and support systems so that all types of payments of the Central Administration are made quickly and safely
- harmonization of procedures and systems and disclosure of all financial data in order to enhance the sense of accountability and responsibility of all stakeholders
- meeting the need for full information of citizens and stakeholders on the country’s fiscal position.