Financial Information Reporting System for Treasury- FIRST

Introduction

1.       The Treasury Department in Myanmar is implementing Component C: Supporting Effective Budget Execution and Financial Reporting of Myanmar Public Finance Management Project (MPFMp) through two phases of the Financial Management Information System (FMIS). The first phase of FMIS includes compiling the government accounts and submitting the financial reports using an automation system.

2.       The Financial Information Reporting System for the Treasury (FIRST) aims to send financial data through online systems for Union Fund Accounts, Government Accounts, and Cash Plans, submit it accurately in accordance with financial reports, avoid errors in calculation, and store it indefinitely in a data-based system.

3.       This system generates the monthly reports for the union-level ministries and departments, state economic enterprises, government Treasury Offices, and government accounts of the Central Bank of Myanmar. It also compiles the Union Fund Statements and maintains and prepares the Financial Report and Cash Plan using an online system.

Purpose

4.       The Financial Information Reporting System for the Treasury (FIRST) is tasked with using computer systems to execute daily processes precisely, submit qualified reports precisely, avoid errors in calculations, store financial data indefinitely in a data-based system, and expand other necessary processes for Treasury Department.

Sending Documents

5.       The FIRST system training has been held five times[1] with representatives from the union-level ministries and departments. FIRST system Instructions[2] and User Manuals[3] have been issued over time.

6.       Union-level ministries and departments send monthly reports (Saya), statements (Form 4), cash plans, and PDF files of these reports to Treasury Department, which are signed by the heads of the respective departments.

7.       When sending monthly reports, Ministries/Departments use an online web form to enter data while sending monthly reports, uploading files in PDF and using a proven Excel template. The system will automatically send an email response after receiving all of the data.

8.       Union Level Ministries/Departments use the online data entry with an Excel template and upload a PDF file to send Cash Plan reports. The system will automatically send an email response after receiving all of the data.

9.       Since October 2020, 194 Union government departments have used the FIRST system to send financial statements to Treasury Department.

Conclusion

10.      We get the benefits of using the FIRST system, such as accurately submitting qualified reports and fully managing cash and debt managements.

[1]     1st (9- 10 Aug-2019),2nd (23- 25 June 2020),3rd (28 Dec 2020 – 1st Feb 2021),4th (22 June 2021), 5th(29-30 Dec 2021)               

[2]     SaBa/Finance-3/2/3/(148/2020) Instruction of Ministry of Planning, Finance and Industry(Head Office)dated 25-8-2020

[3]     Monthly Report User Manual, Cash Plan User Manual