FreeBalance® Accountability Suite
FreeBalance Government Performance Management
Performance Management enables governments to improve results and outcomes. To enable these results, the (GPM) Government Performance Management category of the FreeBalance Accountability Suite delivers:
- Performance Budgeting modules to support credible budgets, forecasting and improved government performance including budget preparation, government performance management and a Key Performance Indicator (KPI) library
- Monitoring and Evaluation modules to support improved decision-making including records management, reporting, data mart, dashboards and alerts
- Government Transparency modules to support publishing performance and budget information to a transparency portal and computer-aided audit
The FreeBalance (GPM) Government Performance Management functions in the FreeBalance Accountability Suite include the following:
- Budget preparation
Creates top-down and bottom-up budgets from central government to department/agency to division to program to specific expenditure. This involves linkages to legislative and organizational constraints such as specific laws, appropriations, and warrants. It includes integrating with budget actuals from previous years.
- Public accounting and budgetary classifications
Classifies accounting and budget categories to be used for budget analysis, fiscal discipline and reporting. This is also used to support international public sector accounting standards.
- Collaborative planning
Organization plans, approves, and performance analysis.
- Performance metrics
Develops input, output and outcome performance metrics tied to departmental/agency and government mandates and goals.
- Performance measurement
Tracks, aggregates and analyzes performance metrics.
- Performance improvement
Takes performance reporting information for continuous improvement including changing priorities, adding or removing performance metrics.
- Performance linkage
Links budget items from line items to aggregated items to performance objectives and metrics.
- Budget execution
Manages and controls budgets during the fiscal year.
- Budget forecasting
Forecasts budget expenditures based on budget and actual expenditures.
- Aid management
Links and collaborates with external aid partners and support the integration of “off budget” information.
The following FreeBalance modules comprise the (GPM) Government Performance Management category.
- (GPAM) Aid Management
- (GPBB) Budget Book Builder
- (GPKL) KPI Library
- (GPOB) Off-Budget Management
- (GPPB) Government Performance Budgeting
- (GPPM) Government Performance Management
- (GPRM) Records Management
- (GPSR) Standard Reports
- (GPAH) Ad-hoc query and reporting
- (GPAN) Analytics (OLAP)
- (GPDM) FreeBalance Data Mart
- (GPMA) Management Alerts
- (GPMD) FreeBalance Minister's Dashboard
- (GPME) Risk, Monitoring and Evaluation
- (GPMG) Manager's Dashboard
- (GPCA) Computer-Assisted Audit
- (GPCO) Citizen Outreach
- (GPTP) FreeBalance Transparency Portal
Modules may be purchased separately. Please note that module dependencies will determine if other modules in this category or other categories must be purchased. Please contact FreeBalance for more information.
The FreeBalance Accountability Suite supports good fiscal practice and internationally recognized standards such as:
- United Nations Common Functions of Government (COFOG)
Functional classification to report government statistics to the International Monetary Fund (IMF) and the United Nations
- The IMF Government Finance Statistics (GFS)
Provides a comprehensive conceptual and accounting framework suitable for analyzing and evaluating fiscal policy and performance of the general government sector and broader public sector of any country
- The IMF Code of Good Practices on Fiscal Transparency
Method to assess government fiscal transparency with practical advice
for improvement
- Generally Accepted Accounting Principles (GAAP)
A collection of rules, procedures and conventions that define accepted accounting practices. This includes broad guidelines and detailed procedures applied to both the public and private sectors
- International Financial Reporting Standards (IFRS)
International Accounting Standards Board, International private and public sector reporting standards
- International Public Sector Accounting Standards (IPSAS)
Cash and accrual reporting requirements for government and public sector organizations. Compliance with the IPSAS standards guarantees that the financial reporting of public bodies conveys what is termed a true and fair view of the financial situation. IPSAS take account of the characteristic features of the
public sector.
- Millennium Challenge Corporation (MCC)
Governance outcome measurements supported in performance objectives
- Medium Term Expenditure Frameworks (MTEF)
Multiple year rational planning and budget formulation processes enabling the government to establish credible and transparent criteria for allocating public resources to strategic priorities while ensuring overall fiscal discipline
- The World Bank Treasury Reference Model
A development tool for fiscal managers and system developers, intended to help implement good practices in fiscal accounting and expenditure control
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