By Gerald Adamson Kachepa Director of Finance 1 Ministry of Agricuture, Irrigation and Water Development-Experience.

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Presentation transcript:

By Gerald Adamson Kachepa Director of Finance 1 Ministry of Agricuture, Irrigation and Water Development-Experience

1. How did we choose this project to use the Project Financial Management Information Tool 2. Issues found good in using this Project Financial Management Information Tool 3. The future use of this Project Financial Management Information Tool 4. The usefulness and purpose of this Project Financial Management Information Tool 2 Ministry of Agricuture, Irrigation and Water Development-Experience

 The Project is fully funded by Government of Malawi  It is in Public Sector Investment Plan(PSIP)  The project must report to the Ministry of Finance,Economic Planning and Development  Its annual budget appears in approved estimates  The Project uses Central Government IFMIS in processing payments and reporting 3 Ministry of Agricuture, Irrigation and Water Development-Experience

 Made reporting easier than reports generated from Central government IFMIS-There are no reports in IFMIS by activity, output and outcome  Reports provides the Information requirements for monitoring projects for PSIP purposes-report by activity, output and outcome  Information generated by the system is useful by management to monitor implementation of the project  Provides opportunity to calculate variances as it uses approved budget figures,  Reinforces discipline of spending within budget. 4 Ministry of Agricuture, Irrigation and Water Development-Experience

 The Project Financial Management Tool is going to be rolled out to all projects under the Ministry of Agriculture, Irrigation and Water Development  By using this Project Financial Management Information Tool, production of reports will be uniform in all projects.  It will assist in timely reporting as accountants will not be struggling to produce reports to meet reporting requirements for PSIP  No Tears for accountants as information required will be at their finguretips. 5 Ministry of Agricuture, Irrigation and Water Development-Experience

 Used to record and report according to activities, outputs and outcomes  Helps the ministry to fulfill its timely reporting requirements for PSIP purposes –to the Ministry of Finance,Economic Planning and Development-Otherwise Accountants were helpless as IFMIS Report were not able to produce the required information  Helps the ministry assess both physical and financial progress of the project  Information generated is used in planning and budgeting as well. 6 Ministry of Agricuture, Irrigation and Water Development-Experience

 THANK YOU Ministry of Agricuture, Irrigation and Water Development-Experience7