The IFMS team has successfully rolled out the Intergrated Financial Management System to the Port Moresby General Hospital and was officially launched last Friday 11 September 2020.
Department of Finance Secretary Dr Ken Ngangan officiated the launching of the IFMS witnessed by DoF Deputy Secretaries, FASs, IFMS team and PomGen management and staff.
DoF has been mandated by the Government as part of the Public Management Financial Reforms to replace the old PGAS system with IFMS.
Dr Ngangan said previously we used the PGAS system (PNG Government Accounting System) for many years and at this time and age, we need to embrace the technology that is available to us.
“In terms of technology to manage public funds we have moved on to adopt the Integrated Financial Management System. For over seven years, we have been rolling out IFMS to all National Government agencies, Statutory Authorities, DDAs and PHAs.
“As part of the IFMS rollout we have been requested by the PHA through the Department of Health to get PHA onboard and from here we will continue the rollout to other PHAs.
He said IFMS provides real time financial information, data, and payments in a more transparent and accountable framework.
Dr Ngangan said you can monitor everything that is being processed through the IFMS anywhere using smart phones and that is how transparent the system is.
“Another advantage is the Electronic Funds Transfer Systems- we are also slowly doing away the cheques and utilising the electronic payment system,’’ he said.
“We are no longer managing public finance in secret but in a more transparent way through the IFMS system.’’
PomGen CEO Dr Paki Molumi said as a public institution it is required to comply with certain regulations like the Public Financial Management Act and National Procurement Act in spending the public funds,’’ he said.
Mr Molumi said in ensuring the high level of compliance we have the hospital staff at the progress of strengthening the internal control systems to ensure efficient, effective and economical use of public monies.
“We have an internal audit committee working closely with the Auditor General Office, updated management asset registry and a budget management team to ensure effective implementations of annual plans with reduce risk of fraud and online payment system to improve efficiency.
The launching of the IFMS will bring PomGen to another level of financial accountability and efficiency. We have a very good internet connectivity to support the system.
Through IFMS, PHA will take ownership and have responsibility of accountability and financial management of public funds.
Dr Ngangan further stressed that all public bodies must have IFMS in order to get funding from the Government.