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Funds from Kenya’s National Treasury to be tracked in real time

KENYA
By Brigid Chemweno | February 19th 2015

NAIROBI: Mismanagement of funds by State agencies may be a thing of the past following the establishment of an electronic system to help track spending in real time.

Integrated Financial Management Information System (IFMIS) will monitor how all ministries and state agencies spend funds.

The IFMIS Business Intelligence Dashboard will give the Cabinet and principal secretaries access to a real time summary of the expenditure made by all state agencies and enable measuring of budget performance against work plans.

IFMIS Director Jerome Ochieng said the dashboard, set for launch in March this year and will be used by both the national Government and governors at the county level.

"The tool will significantly improve public funds management in Kenya and cascaded to the counties, giving governors an efficient way to monitor use of county funds," Ochieng said.

He further said the system enables accurate tracing of funds hence giving them access to a breakdown of expenditure within departments in ministries with an interactive visual presentation.

"The National Treasury presented the system to principal secretaries, Heads of Commissions and accounting officers meeting to review the budget absorption in ministries, departments and government agencies," he said.

He pointed out that the electronic system will expose day to day running of financial activities at a single log in.

National Treasury Principal Secretary Kamau Thugge said the use of the tool will enhance planning and comprehensive monitoring of budget implementation.

The controller of Budget Agnes Odhiambo applauded the National Treasury's initiative in provision of the tool.

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