Isidore manages an organisations entire budget process, from the preparation and approval, to the execution and management of the budget. It 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.
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.View Detail
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.View Detail
The setting of expenditure ceilings, allows the budget department to control as well as direct expenditure to specific areas. Ceilings can be set at the Vote, Sub Vote and Account Class Levels.View Detail
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.View Detail
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.View Detail
All Budget Papers and Reports that are required to be submitted to Parliament are produced from the system.View Detail
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.View Detail
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.View Detail
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.View Detail