Medium Term Expenditure Framework (popularly known as MTEF) helps governments to achieve maximum financial and economic benefits by ensuring that scarce resources are used efficiently and effectively to achieve set national, sectoral and program objectives
Key features of MTEF are:
- Projection of expenditure for next two years
- Cost estimation in a bottom up approach
- Central ceiling to control the process
- Drill down reports
- Automation of Price Standards
- Linked with actual transaction database
- Projection of Cash Flow for next two years
MTEF Budgeting System
MTEF offers a budgeting process which helps to make the country avoid budgetary problems by ensuring that spending is within a preset budget envelope. By enhancing budgetary processes and by undertaking the necessary institutional strengthening, this system ensures efficient use of scarce resources.
- Easy monitoring of spending within a preset budget envelope,
- Accurate prediction of budget resources based on a stable macroeconomic framework
- Allocating resources to properly identified priority sectors and programs.
- Improving budgetary processes and achieving fiscal discipline.
- Greater accountability of Government in the planning and implementation of the budget and its programs.
Finance Statistics and Reporting System
NybSys Finance Statistics and Reporting System generate and present reports on various economic data like demand, investment, savings, and many more. It provides trend analysis to help governments manage their economy better.
- Provides an overview of the economy of a country.
- Collects data automatically from relevant sources like governments’ accounting systems and other reliable sources.
- Provides information about investment, revenue, expenditure and internal transfers.
- Presents a clear idea of current economic situation at a glance.
- Offers trend analysis helps in proper policy formulation.
Expenditure Monitoring and Reporting System
NybSys Expenditure Monitoring and Reporting System helps you manage project expenses better. Successful completion of projects depends on planning and executing the plan. With our system you can set targets (allocate budget) for your projects and track the actual expenses with your set targets to ensure that your project is running according to the plan.
With this system you can:
- Plan and allocate resources early in the project and monitor the progress throughout the lifetime of the project.
- See real-time data entered by project team members through a web enabled interface. So, information is available to you from anywhere, anytime.
- Seamlessly monitor expenditure actually incurred against allocated budget.
- Change budgeted amount with proper verification and authorization.
- Send reminder to project team members when data is not receivedin scheduled time.