Objectives and Benefits of the Integrated Financial Management Information System (IFMIS)
- Strengthen financial management and oversight across government agencies.
- Ensure strict compliance with appropriations laws, government accounting standards, and policies.
- Improve treasury cash management and facilitate accurate and timely generation of financial reports.
- Simplify reportorial requirements across various government levels to promote efficiency.
Coverage and Scope
- Mandatory adoption and implementation of IFMIS for all national government departments, agencies, instrumentality including GOCCs.
- Local government units are encouraged, but not mandated, to adopt the IFMIS.
- All government financial transactions must be processed through the IFMIS, consistent with the terms set forth.
Role and Responsibilities of the Public Financial Management (PFM) Committee
- Composed of representatives from DBM, DOF, COA, and BTr.
- Conduct policy and process reviews of key PFM areas such as budget management, cash management, and accounting.
- Identify bottlenecks and update policies for reengineered and optimized financial processes.
- Develop a strategic PFM Reforms Roadmap to accelerate IFMIS deployment and ensure inter-agency policy harmonization.
Specific Functions of the PFM Committee
- Formulate a comprehensive five-year plan linking NGAs with oversight bodies to produce consolidated financial and budgetary reports.
- Coordinate integration, simplification, and harmonization of financial management processes and information systems across government.
- Conduct mid-term reviews of PFM reforms implementation.
- Advocate for supporting legislation in Congress.
- Coordinate funding including donor support for PFM reforms.
- Provide annual reports on project milestones and recommendations to the Office of the President.
- Issue implementing policies and procedures to realize the Order’s objectives.
Implementation and Transition Guidelines
- PFM Committee to issue transitional guidelines for agencies moving to full IFMIS adoption.
- Take into account policy and process review outcomes, technology requirements, and capacity building needs.
Technical and Policy Support
- Department of Information and Communications Technology tasked to provide necessary technical and policy assistance for IFMIS development and implementation.
Funding Arrangements
- Initial funds to come from existing NGAs’ appropriations and GOCCs’ corporate budgets, subject to relevant budgeting rules.
- Subsequent funding to be included in regular budget proposals of covered agencies.
Legal Provisions
- Separability Clause ensures validity of remaining provisions if any part is invalidated.
- Repeal Clause annuls previous inconsistent orders, rules, and regulations.
- Immediate effectivity upon publication in the Official Gazette or a newspaper of general circulation.
Presidential Authority
- The President exercises control over all executive departments and bureaus to ensure faithful law execution under Section 17, Article VII of the Constitution.