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Greater than leadership : Financial management information system(FMIS)-WB

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Frame of Image , with those responding positively increasing from 52.7, 55.9, to 62.4 percent from 2008 to 2010. As the system continues to stabilize, instances of downtime have correspondingly decreased from 11 in 2008, 10 in 2009, to only 3 in 2010. IFMIS are multiple, but the foremost is that it was designed to facilitate modifications in response to changing budgeting needs and revisions to the budget system. This is because the core design of the system was specified by the government, rather than strongly influenced by system vendors. This has allowed the system to undergo continual upgrades since its first development. For instance, a performance management module was added with relative ease after the initial version was unveiled. The su t is owed to the concerted focus by the government that
aimed for a truly integrated system of fiscal information and its application. The Korean case serves as a good reminder that such focus on key objectives can prevail over constraints from the information technology perspective. Although Korea had a very well-developed infrastructure, she was hardly different from many developing countries when it came to the problem of trying to revise existing codes and practices by different government and private entities into a coordinated single system. Indeed, it is hoped that other governments, in particular those from developing countries, will find that the Korean IFMIS can be adapted for use in their own countries with relative ease. The compartmenta
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Title Greater than leadership
Similar Titles
Sub Title

Financial management information system(FMIS)-WB

Project Category Consulting Programs
Material Type Reports
Author(English)

Korea Eximbank

Publisher

[Seoul]:Korea Eximbank

Date 2013-06
Project Consulting Programs
Series Title; No Knowledge Sharing Program; 2012 Joint Consulting with IOs
Pages 52
Subject Country Cambodia(Asia and Pacific)
Philippines(Asia and Pacific)
South Korea(Asia and Pacific)
Vietnam(Asia and Pacific)
Albania(Europe)
Language English
File Type Documents
Original Format pdf
Subject Economy < Financial Policy
Holding Ministry of Strategy and Finance
Recipient Country Cambodia(Asia and Pacific)
Philippines(Asia and Pacific)
Vietnam(Asia and Pacific)
Albania(Europe)
Donor Country South Korea(Asia and Pacific)
Supervisor Korea Eximbank
Organizer Korea Eximbank
Sponsor Ministry of Strategy and Finance
Project Term 2012-01-01 ~ 2012-12-31

Abstract

This project is carried out to share Korean government’s experiences in developing integrated financial management information systems (IFMIS) with other countries.
Lessons from Koran experiences of IFMIS development are the following. Reforms that affect all government organizations need a strong proponent with a government-wide mandate. This was especially true for the building of IFMIS. Budget and Accounting Reinvention Office (BARO) was founded for this purpose, and while drawing on both the Ministry of Planning and Budget and the Ministry of Finance and Economy to staff key positions, it also solicited the required expertise from diverse ministries or agencies to achieve its goals. Crucially, BARO was effective in ironing out differences across organizational boundaries, and was able to consolidate diverse financial information systems in use at different ministries and organizations.
Specific recommendations regarding the sequencing and prioritization of other reforms in relation to an IFMIS can be summarized as follows:
a) Program budget classification needs to precede multi-year and top-down budgeting. Performance-based budgeting may proceed without a program budget structure, but needs to be eventually retooled to fit the program classification, especially if costs vs. performance analyses are needed.
b) Other treasury-related reforms such as those for accounting and reporting (accruals, scope of reporting entity, tax expenditures, etc.) need not hold up an IFMIS implementation and may be integrated into the system as they are completed later.

User Note

2012 Joint Consulting with IOs: African Development Bank(AfDB) & World Bank(WB)

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