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• Accountability Platform

FreeBalance^® Accountability Suite

FreeBalance Performance Budgeting

FreeBalance Performance Budgeting is a web-based application for budget planning and budget execution. FreeBalance Performance Budgeting enables multiple departments and agencies to plan, analyze and coordinate government performance targets and budget transfers, and create credible budgets and medium term expenditure frameworks (MTEF) that reflect national policies and priorities.

FreeBalance Performance Budgeting can be used as a stand-alone application or as part of the suite at any level of government. It is a comprehensive program for budget preparation, budget execution, review and approval, forecasting and reporting. Effective integrated budget preparation ensures that the budget plan is consistent, reflects past experience and generates aggregate budget controls for budget execution.

FreeBalance Performance Budgeting Highlights

• Budget Planning - preparation of budget plans, iterative budget plan creation via budget versioning, budget justification, summary, reviews and approval of budget plans and budget ceilings (controls). The module enables multiple-step budget preparation and collaborative planning and multiple scenarios testing.
• Budget Approval - Each budget version can be approved individually, or integrated into a single or multiple budget version groups for approval. The final version of the approved budget is used to establish the allocation and control.
• Budget Execution - during the fiscal year, the module transfers the approved budget for budget execution, forecasts budget variances and synchronizes budget transfers, virements, revenues, operating expenses and commitments, budget allocation and distribution, changes to controls and budget adjustments.
• Spreadsheet Style Interface - simplifies financial analysis, capability to export budgets and reports to various file formats, including Microsoft Excel, XML and text.

The FreeBalancePerformance Budgeting module can be added and integrated with FreeBalance Financials during any stage of the Integrated Financial Management Information System (IFMIS) implementation process and tightly integrated with other modules to maintain Charts of Accounts (COA) and data integrity.

FreeBalance Performance Budgeting as Stand-alone Application

FreeBalance Performance Budgeting can also be used as a stand-alone application outside of the FreeBalance Accountability Suite. As a stand-alone application, it provides decentralized access to people in different government departments working on different budget cycle stages. FreeBalance Performance Budgeting can be integrated with any third party Financial Management Information System (FMIS).