What you need to know:
All government ministries, departments and agencies have been connected to the Integrated Finance System
The Ministry of Finance has upgraded the Integrated Finance System, connecting all government units on a single system.
The move, Mr Ramathan Ggoobi, the Secretary to Treasury said, seeks to enhance transparency, accountability and traceability of government funds.
All government ministries, departments and agencies have been connected to institute comprehensive security of public funds and reducing cost of doing government business.
Speaking during the commissioning of the system in Entebbe, Wakiso District, Mr Ggoobi, said following extensive consultations with key stakeholders, the upgrade of key Public Finance Management systems was commenced in January 2021 at the peak of Covid-19.
The upgrades, he said, covered the Oracle-based Integrated Finance System used by ministries, agencies, and local governments and the Microsoft Navision System used by embassies and foreign missions.
“The upgraded Integrated Finance System that is being launched today, is fully aligned to budgeting programmes and will enable government to measure results against the use of public funds allocated to the various entities,” he said, noting that it will also enhance systems performance, better planning and decision-making.
It will also be important in enhancing security controls aimed at mitigating potential cyber security threats and will be key in reimplementation of improved productivity through the introduction of new system features such as dashboards, multicurrency, and enhanced system controls.
Government introduced the Integrated Finance System to strengthen public finance management in 2004.