MALACAÑAN PALACE
MANILABY THE PRESIDENT OF THE PHILIPPINES
EXECUTIVE ORDER NO. 55
DIRECTING THE INTEGRATION AND AUTOMATION OF GOVERNMENT FINANCIAL MANAGEMENT SYSTEMS
WHEREAS, it is the policy of the State to adopt and implement full public disclosure if all its transactions involving public interest and recognize the right of the people to information on matter of public concern as embodied under Section 28, Article II and Section 7, Article III of the 1987 Constitution;
WHEREAS, the present administration subscribes to the emerging global thrust towards open government and greater budget transparency and accords the highest priority to public sector initiatives that promote transparency, accountability and good governance as contained in the President’s Social Contract with the Filipino people;
WHEREAS, the development of a government integrated financial management information systems (GIFMIS) will facilitate the generation of vital information on any and all aspects of government financial transactions that can be made accessible to the public through information technology, subject to existing laws, and greater participation of civil society organizations in fiscal governance, as well...
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Executive Orders
Directing The Integration And Automation Of Government Financial Management Systems
Executive Order No. 55
Summary of Executive Order No. 55
Automation and Integration of Government Financial Management Systems
- Directs the integration and automation of government financial management systems to promote transparency, accountability, and good governance. (Section 1)
- Mandates the automation of financial management systems of the Commission on Audit (COA), Department of Budget and Management (DBM), and Bureau of the Treasury (BTr)/Department of Finance (DOF) as the backbone of the government's financial reporting system. (Section 1)
Deliverables of the Public Financial Management (PFM) Committee
- Develop and install the following systems within the current administration's term: (Section 2)
- Government Integrated Financial Management Information System (GIFMIS) for real-time accounting, monitoring, and control of obligations, disbursements, and cash management. (Section 2a)
- Treasury Single Account (TSA) for effective cash management, rationalization of agency bank accounts, and efficient reconciliation of bank balances. (Section 2b)
- Efficient budget release system with predictable allotment and cash release programs. (Section 2c)
- Regular in-year reporting system on budget execution status and timely year-end audit reporting. (Section 2d)
- Systematic recording and reporting of all government entities' liabilities, including real and contingent liabilities. (Section 2e)
Authority and Functions of the PFM Committee
- Devise a five-year plan for the development and implementation of an integrated financial management information system. (Section 3a)
- Oversee, coordinate, and develop the integration, simplification, and harmonization of financial management processes and information systems. (Section 3b)
- Develop and oversee the implementation of the Philippine PFM Reforms Roadmap. (Section 3c)
- Shepherd and champion the passage of supporting legislation needed in Congress. (Section 3d)
- Coordinate budgetary and donor funding to support PFM reform efforts and GIFMIS. (Section 3e)
- Provide a comprehensive report every six months on project milestone activities, findings, and recommendations to the Office of the President through the Development Budget Coordination Committee (DBCC). (Section 3f)
- Issue necessary implementing policies, mechanisms, and procedures. (Section 3g)
Coverage
- All departments, bureaus, offices, or agencies of the national government shall give full support and collaborate with the PFM Committee for the smooth and successful formulation and implementation of the PFM reforms, especially the TSA and GIFMIS projects. (Section 4)
Funding
- The PFM Committee shall develop a multi-year expenditure plan for the implementation of the PFM Reforms Roadmap, TSA, and GIFMIS. (Section 5)
- The DBM is authorized to provide funds for the requirements of the projects. (Section 5)
Separability Clause and Repealing Clause
- If any provision is declared invalid or unconstitutional, the other provisions shall remain valid and subsisting. (Section 6)
- All orders, rules, regulations, and issuances, or parts thereof, which are inconsistent with this Executive Order, are hereby repealed, amended, or modified accordingly. (Section 7)
Effectivity
- This Executive Order shall take effect immediately upon publication in a newspaper of general circulation. (Section 8)
Automation and Integration of Government Financial Management Systems
- Directs the integration and automation of government financial management systems to promote transparency, accountability, and good governance. (Section 1)
- Mandates the automation of financial management systems of the Commission on Audit (COA), Department of Budget and Management (DBM), and Bureau of the Treasury (BTr)/Department of Finance (DOF) as the backbone of the government's financial reporting system. (Section 1)
Deliverables of the Public Financial Management (PFM) Committee
- Develop and install the following systems within the current administration's term: (Section 2)
- Government Integrated Financial Management Information System (GIFMIS) for real-time accounting, monitoring, and control of obligations, disbursements, and cash management. (Section 2a)
- Treasury Single Account (TSA) for effective cash management, rationalization of agency bank accounts, and efficient reconciliation of bank balances. (Section 2b)
- Efficient budget release system with predictable allotment and cash release programs. (Section 2c)
- Regular in-year reporting system on budget execution status and timely year-end audit reporting. (Section 2d)
- Systematic recording and reporting of all government entities' liabilities, including real and contingent liabilities. (Section 2e)
Authority and Functions of the PFM Committee
- Devise a five-year plan for the development and implementation of an integrated financial management information system. (Section 3a)
- Oversee, coordinate, and develop the integration, simplification, and harmonization of financial management processes and information systems. (Section 3b)
- Develop and oversee the implementation of the Philippine PFM Reforms Roadmap. (Section 3c)
- Shepherd and champion the passage of supporting legislation needed in Congress. (Section 3d)
- Coordinate budgetary and donor funding to support PFM reform efforts and GIFMIS. (Section 3e)
- Provide a comprehensive report every six months on project milestone activities, findings, and recommendations to the Office of the President through the Development Budget Coordination Committee (DBCC). (Section 3f)
- Issue necessary implementing policies, mechanisms, and procedures. (Section 3g)
Coverage
- All departments, bureaus, offices, or agencies of the national government shall give full support and collaborate with the PFM Committee for the smooth and successful formulation and implementation of the PFM reforms, especially the TSA and GIFMIS projects. (Section 4)
Funding
- The PFM Committee shall develop a multi-year expenditure plan for the implementation of the PFM Reforms Roadmap, TSA, and GIFMIS. (Section 5)
- The DBM is authorized to provide funds for the requirements of the projects. (Section 5)
Separability Clause and Repealing Clause
- If any provision is declared invalid or unconstitutional, the other provisions shall remain valid and subsisting. (Section 6)
- All orders, rules, regulations, and issuances, or parts thereof, which are inconsistent with this Executive Order, are hereby repealed, amended, or modified accordingly. (Section 7)
Effectivity
- This Executive Order shall take effect immediately upon publication in a newspaper of general circulation. (Section 8)