Jamaica: Accountant General’s Department to modernize the Public Funds Management

Jamaica: Accountant General's Department to modernize the Public Funds Management
Jamaica: Accountant General's Department to modernize the Public Funds Management

The Public Sector Transformation Project aims to modernise the way towards the management of public funds. The Accountant General’s Department (AGD) would be managing the public funds.

While this ongoing technological transformation of the Central Treasury Management System, The ADG would be providing the stakeholder with many facilities. The ADG would be giving them access to the automated user experience and improved processing and transactions services.

The Accountant General overviews the cash management operation. The CTMS is a mechanism under which the Government manages cash management operations.

The Government’s efficacious treatment of public funds has been increased under the Public Financial Management Reform Programme. Under Public Financial Management Reform Programme, CTMS has gone through many improvements since 2018.

She said, “The establishment of the GFMS has led to better public financial management activities, automation of user experience and strengthened security and access controls. It has allowed the AGD to accomplish a transition from manually entering payments via journal vouchers. The Government was provided with the budgetary support and technical assistance to undertake a comprehensive programme to improve efficiency and build confidence in the country’s treasury operations,” she notes.

She added that the Public Financial Management Reform Programme was started as a helping arm of the Government’s Public Transformation Project. This was made possible through a financial agreement with the European Union in 2018.

She said, “Through the GFMS, the needs of the ministries in respect of executing budgeted expenditure can be addressed adequately and on time. Additionally, the ministries’ risk of exceeding their warrant balances has been lessened through the implementation and strengthening of automated warrant controls. As a result, there is a further increase in the proper execution of budget and allocation of public cash resources.”