ALL government offices and local government units (LGUs) in the Philippines were mandated to adopt and implement integrated financial management information system (IFMIS) in their transactions.

This was the content of President Ferdinand “Bongbong” Marcos Jr. Executive Order (EO) 29, which he signed Thursday, June 1, 2023, as the government aims to ensure fast and efficient delivery of services to the public.

Marcos signed the EO 29, titled “Strengthening the Integration of Public Financial Management Information Systems, Streamlining Processes Thereof, and Amending Executive Order No. 55 (S. 2011) for the Purpose,” in line with his commitment to improve bureaucratic efficiency by capitalizing on digitalization efforts.

The issuance of the EO was also based on the recommendation of the Private Sector Advisory Council (PSAC) for the Digital Infrastructure group to help promote efficiency, transparency and ease of doing business with the government.

It also covers government-owned or -controlled corporations.

To facilitate the transition to full digitalization, a Public Financial Management (PFM) committee, which will be composed of representatives from the Department of Budget and Management (DBM), Department of Finance (DOF), Commission on Audit (COA), and the Bureau of Treasury (BTr), will be created.

The committee will conduct policy and process review of key PFM processes, including budget management and its execution, cash management, and accounting and reporting.

This aims to pinpoint bottlenecks and update corresponding policies, reengineer PFM processes and maximize the use of financial systems to ensure seamless government transactions, and devise a strategic plan through the development of a PFM Reforms Roadmap to expedite the development of IFMIS, while ensuring harmonization of policies across oversight agencies.

The committee was also tasked to come up with a five-year plan for the development and implementation of the IFMIS that links national government agencies with DBM, DOF, COA, and BTr; oversee, coordinate, and develop integration, simplification, harmonization of the government’s financial management processes and information systems; and develop, oversee, and conduct comprehensive mid-term review of the implementation of PFM Reforms roadmap.

“The PFM Committee will also shepherd and champion the passage of supporting legislation in Congress; coordinate budgetary and donor funding to support PFM reform efforts; provide comprehensive annual reports on all project milestones, findings, and recommendations to the Office of the President; and issue necessary implementing policies, mechanisms, and procedures to carry out the objectives of the Order,” the EO read.

“The Department of Information and Communications Technology is hereby directed to provide technical and policy support in the development and implementation of the IFMIS,” it added. (SunStar Philippines)