The Integrated Financial Management System (IFMS) is a major part of the Financial Management Improvement Program (FMIP) and a core component of the reforms to the Public Financial Management. The system allows planning, budgeting, accounting and financial reporting to be integrated into a single system, unlike in the past where each of these functions was performed by a different system. The implementation team have been hard at work working with government departments and agencies to rollout the program.
A website http://www.ifmspng.com/ has been developed to support implementation training and ongoing use. The website is designed to support in particular officers in more remote locations with innovative use of videos as well as templates, processes and a wealth of other resources to support officers in their work. With 29 implementations and 33 to go the team is almost halfway there. The 2011 GOPNG Public Accounts were the first to be produced from the IFMS and the 2013, 2014 and 2015 National Budgets were also prepared using IFMS. When IFMS is used in processing and managing public funds at all levels of government it will provide enhanced oversight visibility over funds usage and enhances reporting and monitoring.