Planning, resource creation, consumption and billing.
MIM has greatly contributed to effective public administration solutions in:
- strategic management and sustainability of public finances (refinancing and risk management of state debt),
- centralization of public revenues (State Treasury system),
- implementation of budget,
- accounting and state reporting.
Strategic management of public finances
This is a critical function of government. It includes the planning, allocation and control of public budget funds with the task of fulfilling specific economic, social or fiscal objectives. It must be carried out in a responsible, efficient and transparent manner. Ongoing control, monitoring, risk management and adaptation to current conditions are essential for maintaining efficiency, fiscal discipline and ensuring the long-term sustainability of public finances. The strategic management of public finances also includes the refinancing and risk management of state debt, which requires the necessary information and system support.
Sustainability of public finances
This represents the government's ability to maintain a stable and balanced fiscal policy, according to the set economic and social goals. Sustainable public finances are crucial for economic stability and the ability to respond to potential macroeconomic and demographic changes. Ensuring fiscal stability requires prudent planning, monitoring and the ability to adapt to changing conditions. Within the framework of the development of public finance management systems, this concerns the introduction of fiscal institutes, their correct setting and the creation of suitable conditions for their functioning in terms of organization, process, method and information.
Centralization of public revenues
This indicates the concentration of state revenues and public administration cash flows at the national level. Public revenues are centralized to make the financial management of the state more efficient and enable fiscal control. Centralization enables the volume of funds needed to cover the state's liquidity and service the state debt to be reduced, the information base for public finance management to improve, and the transparency of the entire system to increase. Here an opportunity is the unification of processes for the collection of state revenues, the management and recovery of state claims, the introduction of standards and the streamlining of e-communication between the state and payers of taxes, duties and levies, as well as increasing convenience in contacting public administration.
Budget implementation
This relates to the implementation of budget plans and programmes established by the public administration budget, and thus the implementation of the budget's expenditures. Budget implementation should be guided by the principles of economy, responsibility and transparency, and should be carried out in accordance with predetermined goals. Information support in this area of public finance management aims to ensure the availability of comprehensive information on the overall implemented budget, the control of the allocation and availability of expenses even before entering into the commitment, and also to support the creation of a medium-term expenditure framework (in the context of multi-year budgeting).
