In line with its strategic plans for developing financial performance in all ministries and federal authorities in the UAE, the Ministry of Finance (MoF) recently launched the automating process of preparing the budgets of independent federal authorities, which is included within the e- system approved by the Ministry. This initiative aims to automate all stages for preparing the general budget of the UAE and follows MoF’s initiatives to devise effective mechanisms for developing budgets and financial reports.
MoF has begun a series of workshops and training courses for professional financial staff of 32 independent federal authorities to train them on using the automated system to allow for preparing the budget for fiscal year 2014 electronically.
In developing the system, MoF communicated with all independent federal authorities to determine work requirements and to establish unified systems and applications for combining data and financial reports. This will help in preparing the final accounts of the Federal Government in accordance with the best practices and procedures adopted by the international financial institutions in the area of government accounting.
HE Younis Haji Al Khouri, Undersecretary of MoF, emphasised the Ministry's commitment to the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister, and Ruler of Dubai, in the transition to an e-government, and his directives to provide excelling public services.
Moreover, HE Saeed Rashid Al Yateem, Executive Director of Revenue and Budget, highlighted the importance of the guidance provided by His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, Minister of Finance and Industry; in maintaining the country’s leading position worldwide in the field of efficient fiscal governmental policies, and its ranking as the seventh country internationally in the field of government financial management efficiency for 2012.
HE Al Yateem added: “The continuous efforts that the Ministry of Finance placed towards the completion of the automation process for the preparation of budgets of independent authorities, in addition to our commencement in preparing the federal budget for the years 2014 – 2016, represent a leading breakthrough for the Ministry. These achievements go towards relieving all ministries and government authorities from the paperwork previously required for budget preparations.”
MoF has begun implementing the automation system in line with the decision of the Ministerial Council for Services (164/12 G / 9) for the year 2010 on joining independent federal authorities to the e-financial system of the Federal Government.