SLFMIS Training of Trainers Commences for Public Officers in Hargeisa, 25 March 2017.
Somaliland Ministry of Finance today launched the first training and deployment session in preparation of the April 1st launch of the Somaliland Financial Management Information System (SLFMIS). The first sets of trainees in the System are Accounting officers and Deputy Directors from the Ministries of Agriculture, Health, Education and Finance, as well as officers from the Accountant General and Auditor General.
The SLFMIS is designed to improve transparency, effectiveness and measurable results in the government’s financial transactions. It is the latest activity in a line of reform measures that the Somaliland Ministry of Finance Public Financial Management (PFM) Reform Program is undertaking.
The SLFMIS will provide critical support in PFM by tracking financial events and summarizing financial information. As such, is aligned to budget and finance laws as well as PFM regulations and international best practices. The SLFMIS will integrate all government institutions and public departments so as to automatically track financial events, implement security controls and produce financial reports.
This will facilitate real time financial information sharing that can increase participation and efficiency of operations at various levels. It will help to improve the accuracy, speed and transparency of processes such as budget planning and execution, expenditure management and revenue management.
At an opening address, the Director General of the Ministry of Finance, Mr.Mohamed Hassan Ibrahim said,
“The SLFMIS will improve aggregate expenditure control, increase the predictability of financial flows, and allow the government to monitor all government expenditure in a transparent and automated manner.”
The system will be implemented in stages, starting with the core functions which are budget controls, expenditures, revenue and financial reporting on April 1st, 2017. Future implementation of the SLFMIS will include Treasury and Payment Management, Human Resources and Payroll, Local Governments, Purchasing, Fixed Assets, Revenue Management and Contract Management. After successful operationalization of each core module, the SLFMIS will be expanded throughout central government, local government and other key institutions including Central Bank and Hargeisa Water Authority, among others.
- The SLFMIS is a web-based system designed to automate and communicate financial transactions in the public sector
- The overall objective of the SLFMIS is to provide a system with adequate audit trails to improve use disclosure of meaningul public finance information
- The SLFMIS is a core element of the Government of Somaliland’s Public Financial Management (PFM) Reform Program. It is a critical factor in modernizing state budget and treasury systems
- The SLFMIS is custom-made to fit in Somaliland’s PFM context
- It offers a common platform for stakeholders in different agencies to communicate their financials in a transparent and accurate manner
- It has built-in analytical tools for analyzing data and understanding financial trends to facilitate decision-making
- It contains in-built guidelines and manuals for support, capacity-building and on-the-job training.