FreeBalance® Accountability Suite
FreeBalance Government Treasury Management
Treasury management enables governments to manage debt and investments. To enable these results, the (GTM) Government Treasury Management category of the FreeBalance Accountability Suite delivers:
- Bank Reconciliation modules to support multiple currency bank management including reconciliation processes, migration to a Treasury Single Account (TSA) and foreign exchange gains and losses
- Cash Management modules to optimize liquidity including cash forecasting based on the commitment cycle, historical trends and manager reports
- Debt and Investment Management modules to support debt servicing and the modeling of debt and investment financial vehicles
The FreeBalance (GTM) Government Treasury Management functions in the FreeBalance Accountability Suite include the following:
- Cash and liquidity management
Predicts future cash flow requirements to ensure optimizing cash reserves.
- Treasury single account
Migrates many bank accounts to a single virtual account to more effectively manage reserves, investments and debt.
- Bank reconciliation
Reconciles ledgers with cash receipts and payments at banks.
- Debt management
Manages government debt commitments.
- Investment management
Manages government investments in financial instruments.
The following FreeBalance modules comprise the (GTM) Government Treasury Management category:
- (GTBR) Bank Reconciliation
- (GTFE) Foreign Exchange
- (GTSA) Treasury Single Account
- (GTSR) Standard Reports
- (GTCM) Cash Management
- (GTDM) Debt Management
- (GTIM) Investment Management
- (GTIT) Government Departmental Transfers
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.
Supported Standards
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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