contract signed to develop IT system for Public Financial Management
MANILA, Dec 17 -- The National Government launched today the
P495-million contract for the Budget and Treasury Management System (BTMS)
Project, a joint venture with Free Balance Canada and Innove Communications,
a subsidiary of Globe Telecom, Inc.
The project– which will be implemented for 27 months– will develop, operate
and maintain a new IT system that would link the public financial management
(PFM) processes of the Department of Budget and Management (DBM) and the
Bureau of Treasury (BTr), two of the key oversight agencies of the
government. The system will go live in 2017.
Pursuant to the National Government’s Updated Public Financial Management
Reform Roadmap, the BTMS would link the financial processes of the DBM and
the BTr, helping collect and organize government financial information in a
central database to support the following PFM functions: Budget Management,
Commitments Management, Payments Management, Receipts Management, Cash
Management, Accounting, and Fiscal Reporting.
Budget Secretary Florencio B. Abad said the BTMS Project will improve fiscal
and budget management and strengthen the transparency and accountability
measures implemented under the Aquino administration.
“Efficiency in the use of public funds is central to the administration’s
goal of creating genuine transparency and accountability, which is a
requirement for earning the trust of the citizens,” the budget chief said.
“The BTMS will complement the Updated PFM Roadmap strategy in emphasizing an
incremental approach and consolidating progress around a number of key PFM
reforms. As such, the new system will be embedded in critical areas like the
budget management processes at the DBM and the cash management processes at
the BTr,” said DBM Undersecretary and Chief Information Officer Richard Moya.
Moya said the BTMS will take its place as a pillar in the Aquino
administration’s overall reform program, together with other reform
initiatives: a streamlined reporting system, a functional Unified Accounts
Code Structure (UACS), an operational Treasury Single Account (TSA), and an
institutionalized Performance-Informed Budgeting (PIB).
“We’re still on track in building one of the keystones in the
Administration’s program for fiscal transparency and accountability in
government. On par with previous reform initiatives, we’re confident that
the BTMS will hold up the integrity of our public financial management
processes,” Moya said.
To streamline current financial systems, spending agencies will eventually
use the BTMS as their framework for budget execution and accountability.