Isidore CBMS and Pulic Sector Budgeting Process
Isidore manages an organisations/Countries entire budget process, from the preparation and approval, to the execution and management of the budget. Our Isidore CBMS software supports each step of the process throughout the entire year.
Isidore's solution has been designed around the process defined below, which adheres to the World Banks Program Based Budgeting protocols as well as the IMF's Best Practise Guidelines for Budgeting.
World Bank
“I have been implementing Budgeting Systems for Governments for 19 years and I have never seen one work, until Isidore”
Macro Fiscal Framework
The Macro Fiscal Framework sets the envelope at the macro level, that the budget must operate within. The macro parameters are entered and these in turn control the limits and allocation of funds in the budget at the micro level.
Budget Submission
The submission of budget requests and bids allows the Ministries, Departments and Agencies to submit directly to the Budget Department their funding requirements for recurrent budget for the next year, as well as bids/requests for additional funding for projects or additional activities.
Set Expenditure Ceilings
Once Expenditure Ceilings have been set, Ministries, Departments and Agencies can enter their Budget Estimates directly into the system. Budget Estimates cannot exceed the ceilings that have been set by the Budget Department.
Budget Estimates
Once Budget Estimates have been entered, they need to be approved in the system by the person responsible before the budget papers can be produced. System provides functionality to make review and approval process simple and easy.
Submit Budget To Parliament
All Budget Papers and Reports that are required to be submitted to Parliament are produced from the system.
Forecasts
After the budget has received Parliamentary Approval, Revenue and Expenditure Forecasts are prepared within the system. Ministries, Departments and Agencies forecast their approved Budget Estimates for the entire financial year by either month or quarter.
Budget Execution
During the Budget Year changes to the budget can only be performed via a Virement, Reallocation or Supplementary Budget. The system manages each of these 3 scenarios and interfaces with Epicor in real time.
Reporting and Analysis
All the data required for the budget process is stored within Isidore CBMS's database. Therefore, we have a very powerful and useful reporting and analytical tool. All data can be extracted for reporting and analytical purposes using MS Excel, MS Excel Power Pivot or any third party reporting tool.
Case Studies
Solomon Islands Government
The Solomon Islands Government have been using Isidore CBMS for 12 years to successfully complete their Centralised Budgeting process for the Ministry of Finance. This has included an independent review of the software by the Australian Department of Finance and Deregulation which assessed the current solution as a lower risk than potentially transitioning to Microsoft AX for the complete Finance and Budgeting solution.
Government of Tanzania
The successful implementation of Isidore CBMS completely changed the expectations of all those involved from the Government of Tanzania. The Government of Tanzania have been using Isidore CBMS since February 2018 to successfully complete their Centralised Budgeting process for the Ministry of Finance.
Government of Lesotho
The successful implementation of Isidore CBMS completely changed the expectations of all those involved from the Government of Lesotho and World Bank advisers, who commented on never having seen a working software solution in over 20 countries. The Government of Lesotho have been using Isidore CBMS since December 2017 to successfully complete their Centralised Budgeting process for the Ministry of Finance.