Public Financial Management Responses to an Economically Challenging World

Jason Levergood, Senior Manager at Grant Thornton LLP, provided an overview of the ICGFM Worldwide Survey, Public Financial Management Responses to an Economically Challenging World on December 7th. at the ICGFM Winter Conference. Public financial managements from over 50 countries were surveyed in 2010.

The survey found that the financial crisis and stimulus packages have had significant impact on public financial managers. Yet, in this environment of doing more with less, governments have accelerated reforms including support for international standards and improvements in transparency.

Mr. Levergood described the survey results for stimulus programs, use of public private partnerships (PPPs), infrastructure investment and increasing transparency. 76% of respondents said that their countries have made or renewed a strong commitment to public fianncial management transparency. 80% of respondents said that their countries are adopting international standards. The survey found that the use of the eXtensible Business Reporting Language (XBRL) is gaining interest but has not been widely adopted in government.

The survey concludes with the observation that "public financial managers face some of the most challenging times in decades in meeting their responsibilities, but they have faced them no only with a variety of policy measures but with an unprecedented commitment to transparency".

Grant thornton global financial management leaders responses to an economically challenging world

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Grant thornton leaders internationaux de la gestion financière réponses à un monde de défis économiques.pptx

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Grant thornton líderes globales de la gestión financiera respuestas a un mundo económicamente exigente

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Public Financial Management Responses to an Economically Challenging World 2011 ICGFM Survey

Impact on Trade Resulting from the Financial Crisis

Stephen Lande, Adjunct Professor, Georgetown University School of Foreign Service and President of Manchester Trade discussed the lessons learned from financial crisis. Trade continues to be a major part of world economic activity and the source of much public revenue. Mr. Lande described how the reaction to the great depression was uncoordinated - building walls across boarders. The reaction to the 2008 financial meltdown has been coordination. There has been continuous consultations across G-20 countries. And, there has been general agreement on how to implement growth through Keysian economics.

Many countries reacted to the financial meltdown by considering protectionism. For example, members of the US Congress talked about a "buy America" policy for the stimulus package.

The WTO was able to show that protectionism restricts growth and financial stability. A report in March 2009 showed that there was no indication of any pattern of protectionist measures.

World Trade fell in 2009 because of global supply chains. There was a shortage of trade finance. Mr. Lande presented the relative rate of growth in 2009. He suggests that there is a new power balance with growth in developing countries by 5.6% vs. 0.8% in developed countries. China has emerged as the leader of world recovery. African countries also escaped the worse effects. Economic reforms in African countries enabled absorbing shocks better. Countries that relied on manufactured goods were hit by reduced exports.

Countries were able to avoid many potential negative effects of the financial meltdown because of coordination and good practices, according to Mr. Lande. He speculated on what this means to the United States, Africa and Latin America. He warned that the Greek crisis and the heated growth in China could have future negative ramifications.

Mr. Lande spoke about the has the duty free/quota free treatment from least developing countries. There has been some reaction to this from developed country textile industries. He disagrees with the notion of "least developing countries" because it was never meant for trade. He advocates that duty free/quota free should apply to all countries in Africa, yet 13 of them are not considered least developed countries.

Stephen Lande is viewed by many to be the "Father” of both the US Generalized System of Preferences (GSP) and the Caribbean Basin Initiative (CBI), and an early force in creating the North American Free Trade Agreement (NAFTA) is a distinguished international trade expert in the United States. Mr. Lande is Adjunct Professor at Georgetown University School of Foreign Service, and has lectured widely in Africa, Latin America, Europe, and Asia.

Stephen lande financial crisis and trade - final

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Public Financial Management in the Era of “The New Normal”

Monday, May 17 – Friday, May 21, 2010 Miami, Florida – USA

24th Annual International Consortium on Governmental Financial Management (ICGFM) International Conference

The economic realities resulting from the worst financial crisis in 70 years are commonly referred to as the New Normal. Public financial managers can learn how these new realities affect their responsibilities.


During the first three days, the key themes and topics that will be addressed include:


· Expenditure management in a new economic environment

· New techniques in bringing transparency to public finance

· Debt management challenges

· The expanding role and increasing responsibilities of public auditors

· Addressing a post-stimulus environment

· The impact on reform programs of the financial crisis

· Stimulating private sector investment


The ICGFM Miami conference will provide participants with an opportunity to learn from fellow practitioners. They can hear from development partners on how they are responding to new priorities. Opportunities will exist to interact with colleagues on best practices and practical lessons being learned.


The final two-days of the event will focus on the technical aspects of public financial management through a series of workshops. Specific topics will be announced shortly. Join government leaders, public financial management experts, international donors and program managers at the 23rd ICGFM Conference. ICGFM was established over two decades ago to serve as an international forum for public sector financial managers with an emphasis on developing countries.



When: Monday, May 17, 2009 – Friday, May 22, 2009


Where: Biscayne Bay Marriott 1633 North Bayshore Drive Miami, Florida 33123 USA (305) 374-3900


We expect to send out the invitations by the end of February and we hope you’ll be able to attend.

Convocatoria de oradores/paneles/ponencias

24º Conferencia Internacional Anual del ICGFM
16 al 21 de mayo de 2010
Miami, Florida, EE.UU.

Tema de la conferencia: Gestión financiera pública en la era del “nuevo normal”

Plazo para presentar propuestas: lunes 10 de febrero de 2010.

Panorama general:
Las realidades económicas que fueron consecuencia de la peor crisis financiera y que generaron una recesión global después de 70 años incluyen la variación de poderes económicos según las regiones, países con endeudamientos sin precedentes por tratar de abandonar grandes programas de estímulo económico, mayor cantidad de flujos de ingresos irregulares en economías basadas en minerales y fluctuaciones de divisas nunca antes vistas. A estas nuevas realidades comúnmente se las llama el “nuevo normal”. Los gerentes financieros públicos de todo el mundo se enfrentan a nuevos desafíos, ya que estas realidades impactan sobre los ingresos, las prioridades presupuestarias, las opciones de la gestión de deudas y los pedidos de mayor transparencia y mejores vínculos en lo que respecta al desempeño.

Fecha y lugar de la conferencia:
16 al 21 de mayo de 2010
Marriott Biscayne Bay Hotel
1633 North Bayshore Drive
Miami, Florida 33132
EE.UU.

Descripción de la conferencia:
La Conferencia Internacional Anual del ICGFM es una reunión de profesionales de la gestión financiera donde se debate sobre las reformas financieras y los métodos disponibles para brindar mejores servicios a sus ciudadanos.

A medida que se ingresa lentamente a un período de recuperación económica, los ciudadanos, las empresas y la sociedad civil demandan mejores resultados respecto de los gastos del gobierno, así como mayor responsabilidad y transparencia. Esta situación se vuelve aún más crítica para los gobiernos que deben administrar ingresos cada vez más bajos y grandes gastos para ofrecer estímulos económicos.

Representantes de África, Asia, Europa, América Latina, Oriente Medio y América del Norte (más de 50 países en 2009) se reunirán en Miami para debatir sobre la gestión financiera pública en la era del “nuevo normal”.

La Conferencia Internacional Anual del ICGFM les brindará a los participantes la oportunidad de aprender, de los compañeros profesionales, a manejarse en este nuevo ambiente, de conocer cómo los socios de desarrollo responden a las nuevas prioridades e de interactuar con colegas sobre las mejores prácticas y las lecciones adquiridas en la era del “nuevo normal”.
Durante los primeros tres días, los temas clave que se abordarán incluyen:

• Gestión de gastos en un nuevo ambiente económico
• Nuevas técnicas para lograr transparencia en las finanzas públicas
• Desafíos de la gestión del efectivo y la administración de deudas
• El rol cada vez más amplio y las responsabilidades cada vez mayores de los auditores públicos
• Cómo abordar la situación tras el retiro de estímulos económicos
• Uso de tecnología, como redes sociales y XBRL, para mejorar el desempeño del gobierno
• Cuestiones relacionadas con el capital humano, incluida la igualdad de género
• Estimulación de las inversiones del sector privado
• Uso de las sociedades público-privadas como una nueva herramienta
• La creciente necesidad y oportunidad de fortalecer las funciones de auditoría interna en todos los niveles del gobierno
  

Proceso de presentación:
Presente su propuesta para participar en la 24º Conferencia Internacional Anual del Consorcio Internacional de Gestión Financiera Gubernamental (ICGFM).

El ICGFM tiene el placer de invitar a los representantes de todos los países y a los profesionales de la gestión financiera pública (GFP) a presentar sus propuestas para la 24º Conferencia Internacional Anual del ICGFM. El comité del programa busca estudios de países y otros temas que destaquen la gestión efectiva de los fondos públicos en la era del “nuevo normal”. Estamos particularmente interesados en los estudios de caso de su país o en las experiencias de varios países.

• ¿Su país tiene un enfoque innovador para implementar el paquete de estímulo económico?
• ¿La crisis financiera global afectó los esfuerzos de su país para implementar las reformas de la GFP?
• ¿Su país pudo mantener o aumentar la inversión extranjera directa a pesar de la recesión a nivel mundial?
• ¿Pueden otros aprender de sus experiencias?
  

De ser así, ¡lo estamos buscando!

Formato:
Siga estas instrucciones para asegurarse de que su propuesta se revise de modo eficiente. No se revisarán aquellas que no cumplan con estas instrucciones.
Las presentaciones no deben tener más de 1-3 páginas y deben estar escritas en inglés. La presentación debe incluir la siguiente información:
Título de la sesión
Tipo de sesión: Panel__ Presentación ___
Nombre, cargo, afiliación, idiomas hablados, dirección, correo electrónico y número de teléfono del organizador de la sesión
Nombre, cargo, afiliación, idiomas hablados e información de contacto de hasta cuatro (4) posibles panelistas, si correspondiera

Panorama general que incluya:

• Objetivos de la sesión
• Antecedentes del tema
• Importancia para el estudio o la práctica de la GFP
• Relación con el tema de la conferencia
• Sinopsis de la presentación
• Descripción del formato de la sesión
• Tiempo/duración de cada presentación o comentario
• Tipo y duración de ejercicios interactivos (por ejemplo, preguntas y respuestas, demostraciones, etc.)
• Material audiovisual (por ejemplo, presentaciones en PowerPoint, folletos, videos, etc.)
  Necesidades de traducción
  

Cómo presentar la propuesta: enviarla a proposals@icgfm.org

Método de selección
Todas las presentaciones serán revisadas por el Comité directivo del programa.

Los criterios de evaluación de las propuestas incluyen: calidad general, relevancia para la comunidad de especialistas en gestión financiera, relación con el tema de la conferencia y posibilidad de avanzar sobre el conocimiento y el diálogo en el campo.

Las notificaciones de la selección se enviarán alrededor del 10 de marzo de 2010.
La versión final de las presentaciones seleccionadas debe entregarse antes del 5 de abril.

Los presentadores de las mejores propuestas recibirán un estipendio para cubrir los gastos de viaje y hospedaje y tendrán la oportunidad de publicar sus estudios de caso en la revista del ICGFM.

Acerca del ICGFM
Al trabajar a escala mundial con gobiernos, organizaciones e individuos, el Consorcio Internacional de Gestión Financiera Gubernamental tiene el objetivo de mejorar la gestión financiera para que los gobiernos puedan brindar mejores servicios a sus ciudadanos.

El ICGFM fue creado hace más de dos décadas con el objetivo de ser un foro internacional para los gerentes financieros del sector público, poniendo énfasis en los países en desarrollo.

Convocation pour les orateurs / panels / documents

24e Conférence Internationale Annuelle
16-21 mai 2010
Miami, Floride, États-Unis

Thème de la conférence: La gestion des finances publiques à l’ère du « nouveau normal »

Date limite de remise des propositions: lundi 10 février 2010.

Aperçu:
Voici quelques réalités économiques découlant de la pire crise financière (et de la récession mondiale qui s'ensuivit) de ces 70 dernières années : glissement du rapport des forces économiques au niveau régional, des pays confrontés à une charge de la dette d'une ampleur jamais vue tandis qu'ils s'efforcent de s’en sortir grâce à d'importants programmes de relance, des flux de revenus plus irréguliers pour les économies fondées sur les minéraux, et des fluctuations de devises sans précédent. On appelle communément ces nouvelles réalités le « nouveau normal ». Les gestionnaires des finances publiques à travers le monde sont confrontés à de nouvelles difficultés à mesure que ces réalités touchent les revenus, les priorités budgétaires, les options de gestion de la dette, ainsi qu'une incitation à une plus grande transparence et au renforcement du lien avec le rendement.

Date et lieu de la conférence:
Du 16 au 21 mai 2010
Marriott Biscayne Bay Hotel
1633 North Bayshore Drive
Miami, Floride 33132
États-Unis

Description de la conférence:
La Conférence Internationale Annuelle de l'ICGFM est une réunion de praticiens de la gestion financière dont le but est d'examiner les réformes financières et les méthodes disponibles pour mieux servirent les intérêts de leurs citoyens.

Alors que nous entrons lentement dans une période de reprise économique, les citoyens, les entreprises et la société civile exigent une amélioration des résultats dans les dépenses du gouvernement, ainsi qu'un renforcement de la responsabilisation et de la transparence. Cet aspect est d'autant plus critique que les gouvernements doivent gérer à la fois des recettes en déclin et d'importantes dépenses de relance.

Des représentants d'Afrique, d'Asie, d'Europe, d'Amérique latine, du Moyen-Orient et d'Amérique du Nord – plus d'une cinquantaine de pays en 2009 – se réuniront à Miami pour se pencher sur la gestion des finances publiques à l'ère du nouveau normal.
La Conférence Internationale Annuelle de l'ICGFM permettra aux participants d'apprendre de leurs collègues praticiens comment s'en sortir dans ce nouvel environnement, d'entendre comment les partenaires au développement réagissent aux nouvelles priorités, et d'interagir avec leurs collègues pour échanger les meilleures pratiques et les enseignements pratiques que l'on peut tirer dans cette ère du nouveau normal.

Au cours des trois premiers jours, les principaux thèmes et sujets abordés seront les suivants :

• Gestion des dépenses dans un nouvel environnement économique
• Nouvelles techniques pour amener de la transparence dans les finances publiques
• Difficultés en matière de gestion de la dette et de la trésorerie
  Le rôle renforcé et l'accroissement des responsabilités des vérificateurs des comptes publics
• Comment aborder la situation au lendemain du plan de relance
• Utiliser des technologies telles que les réseaux sociaux ou l'XBRL pour améliorer le rendement du gouvernement
• Les questions relatives au capital humain, y compris l'égalité des sexes
• Encourager l'investissement du secteur privé
• Recourir aux partenariats public-privé en tant que nouvel outil
• La nécessité et les possibilités de plus en plus marquées de renforcer, à tous les échelons du gouvernement, la fonction de contrôle interne des comptes
  

Processus de soumission:
Soumettez votre proposition pour pouvoir participer à la 24e Conférence Internationale Annuelle du Consortium International sur la Gestion Financière Gouvernementale (ICGFM).

L'ICGFM a le plaisir d'inviter l'ensemble des représentants nationaux ainsi que les praticiens de la gestion des finances publiques (GFP) à soumettre leurs propositions de présentation à l'occasion de la 24e Conférence Internationale Annuelle de l'ICGFM. Le comité du programme est à la recherche d’études nationales ainsi que d'autres sujets qui permettront de mettre en exergue la gestion efficace des fonds publics à l’ère du nouveau normal. Nous nous intéressons tout particulièrement aux études de cas de votre pays ou à l'expérience de plusieurs pays.

• Votre pays dispose-t-il d'une stratégie innovatrice pour mettre en œuvre son plan de relance ?
• La crise financière mondiale a-t-elle eu une incidence sur les initiatives de votre pays à mettre en œuvre les réformes de GFP ?
• Votre pays a-t-il été en mesure de maintenir ou d'accroître les investissements directs à l'étranger malgré la récession mondiale ?

D'autres pourraient-ils tirer des leçons de vos expériences ?

Si c’est le cas, c’est vous que nous recherchons !

Structure:
Veuillez suivre les instructions suivantes pour veiller à ce que votre proposition soit examinée dans les meilleurs délais. Les propositions qui ne respecteraient pas ces instructions ne seront pas examinées.
Les soumissions devront comporter au maximum 1 à 3 pages et devront être rédigées en anglais. Les soumissions devront comporter les informations suivantes :

Titre de la séance
Type de séance : Panel__ Présentation ___
Nom, titre, affiliation, langues parlées, adresse postale, adresse électronique, et numéro de téléphone de l'organisateur de la séance
Nom, titre, affiliation, langues parlées et informations de contact de quatre (4) panélistes potentiels au maximum, le cas échéant
Un aperçu, qui comprend les aspects suivants :
Objectifs de la séance
Contexte du thème abordé
Importance pour l’étude ou la pratique de la GFP
Pertinence par rapport au thème de la conférence
Synopsis de la présentation
Description de la structure de la séance
Durée / Longueur de chaque présentation ou de chaque intervention.
Type et longueur des exercices interactifs (par ex. questions-réponses, démonstration, etc.)
Moyens audio-visuels (par ex. PowerPoint, documents à distribuer, vidéos, etc.)
Les éventuels besoins en traduction.

Comment soumettre sa proposition: envoyez vos propositions par courrier électronique à l’adresse proposals@icgfm.org

Méthode de sélection
Toutes les propositions soumises seront examinées par le comité de pilotage du programme.

Au nombre des critères sur lesquels les propositions seront évaluées figurent notamment : la qualité globale, l'intérêt pour la communauté des chercheurs en gestion financière, la pertinence par rapport au thème de la conférence, et le potentiel à faire progresser les connaissances et le dialogue dans le domaine.

Les avis de sélection seront annoncés au plus tard le 10 mars 2010.
Les présentations finales pour la conférence à remettre par les présentateurs sélectionnés devront être remises au plus tard le 5 avril.

Les présentateurs des meilleures propositions recevront une allocation pour frais de déplacement et d'hôtel et auront la possibilité de publier leurs études de cas dans la revue de l'ICGFM.

À propos de l’ICGFM
Travaillant avec des gouvernements, des organisations et des particuliers au niveau mondial, le Consortium International sur la Gestion Financière Gouvernementale se consacre à l'amélioration de la gestion financière, de manière à ce que les gouvernements puissent mieux servir les intérêts de leurs citoyens.

L'ICGFM fut créé il y a plus de deux décennies afin de servir de tribune internationale pour les gestionnaires des finances du secteur public, avec un accent sur les pays en développement.

Call for Speakers/Panels/Papers

ICGFM 24th Annual International Conference
May 16 - 21, 2010
Miami, Florida, USA

Conference Theme: Public Financial Management in the Era of “The New Normal”

Deadline for submitting proposals: Monday, February 10, 2010.

Overview:
The economic realities resulting from the worst financial crisis and ensuing global recession in 70 years include economic power shifting regionally, countries facing unprecedented debt loads as they try to manage out of large stimulus programs, more erratic revenue flows for mineral based economies, and unprecedented currency fluctuations. These new realities are commonly referred to as the “New Normal”. Public financial managers around the globe face new challenges as these realities impact revenues, budget priorities, debt management options, and calls for greater transparency and better links to performance.

Conference dates and location:
May 16 – 21, 2010
Marriott Biscayne Bay Hotel
1633 North Bayshore Drive
Miami, Florida 33132
USA

Conference description:
The ICGFM Annual International Conference is a gathering of financial management practitioners to discuss the financial reforms and methods available to better serve their citizens.

As we slowly enter a period of economic recovery, citizens, businesses, and civil society demand improved results in government expenditures, as well as increased accountability and transparency. This is even more critical as governments manage both declining revenues and large stimulus spending.

Representatives from Africa, Asia, Europe, Latin America, the Middle East and North America – 50+ countries in 2009 -- will gather in Miami to discuss public financial management in the era of the New Normal.

The ICGFM Annual International Conference will provide participants with an opportunity to learn from fellow practitioners on how to manage in this new environment, hear from development partners on how they are responding to new priorities, and to interact with colleagues on best practices and practical lessons being learned in the era of the New Normal.
During the first three days, the key themes and topics that will be addressed include:

• Expenditure management in a new economic environment
• New techniques in bringing transparency to public finance
• Debt and cash management challenges
• The expanding role and increasing responsibilities of public auditors
  Addressing a post-stimulus environment
• Utilizing technology such as social networking and XBRL to improve government performance
• Issues in human capital, including gender equality
• Stimulating private sector investment
• Utilizing Public Private Partnerships as a new tool
• The increasing need and opportunity to strengthen the internal audit function at all governmental levels
  
  

Submission process:
Submit your proposal in order to participate in the 24th Annual International Consortium on Government Financial Management (ICGFM) International Conference.

ICGFM is pleased to invite all country representatives and public financial management (PFM) practitioners to submit their presentation proposals for the 24th Annual ICGFM International Conference. The program committee is looking for country studies and other topics that will highlight the effective management of public funds in the era of the New Normal. We are particularly interested in case studies from your country or the experience of several countries.

• Does your country have an innovative approach to implementing its stimulus package?
• Has the global financial crisis affected your country’s efforts to implement PFM reforms?
• Has your country been able to maintain or increase foreign direct investment despite the worldwide recession?
• Can others learn from your experiences?
  

If so, we’re looking for you!

Format:
Please follow these instructions to ensure your proposal is expeditiously reviewed. Those that do not conform to these instructions will not be reviewed.
All submissions should be no more than 1-3 pages and must be submitted in English. The submission should include the following information.

Title of session
Type of session: Panel__ Presentation ___
Name, Title, Affiliation, languages spoken, address, email, and phone number of the Session Organizer
Name, Title, Affiliation, languages spoken and Contact information of up to four (4) potential panellists, if applicable
Overview that includes
Objectives of the session
Background of the topic
Significance to scholarship in or practice of PFM
Relevance to conference theme
Synopsis of presentation
Description of Session Format
Time/length of each presentation or remarks.
Type and length of interactive exercises (e.g. Question and Answer, demonstration, etc.)
Audio-visual aids (e.g., PowerPoint, handouts, video, etc.)
Any translation requirements

How to submit:

email proposals to proposals@icgfm.org

Method of selection
All submissions will be reviewed by the Program Steering Committee.

Criteria on which proposals are evaluated include: overall quality; interest to the financial management community of scholars; relevance to conference theme, and the potential to advance knowledge and dialogue in the field.

Selection notifications will be made by March 10th, 2010.

Final conference presentations from selected presenters are due on April 5th.
The top proposal presenters will be awarded a stipend toward travel and hotel expenses and given an opportunity to publish their case studies in the ICGFM Journal.
About ICGFM

Working globally with governments, organizations and individuals, the International Consortium on Governmental Financial Management is dedicated to improving financial management so that governments may better serve their citizens.

ICGFM was established more than two decades ago to serve as an international forum for public sector financial managers, with an emphasis on developing countries.

Public Financial Management in the Era of "The New Normal"

24th. Annual International Consortium on Governmental Financial Management (ICGFM) Conference Announced


Jim Ebbitt, President of ICGFM, provided an overview of the upcoming Annual Conference, during his closing remarks at the Winter Conference Inter-American Development Bank.

Mr. Ebbitt, of Mosley and Associates, introduced the theme of the 24th. ICGFM Conference, to be held from May 16 to 21 in Miami Florida, as the "New Normal" of Public Financial Management (PFM):

• More erratic revenue flows for mineral-based economies
• Unprecedented debt loads in era of stimulus programs
• Increasing competition in the global economy
• Unexpected currency fluctuations
• Increasing demand for transparency and good governance

The 2009 Annual Conference attracted public financial management professionals from more than 50 countries. This upcoming conference is an excellent venue for public servants to learn and share good practices.

Mr. Ebbitt also pointed out that the conference is an excellent opportunity for organizations to reach the global Public Financial Management market at a single event. Sponsorship opportunities are available.

2009 ICGFM Sponsorship Opportunities

Government Budgeting in Times of Crisis

Three videos from the 23rd ICGFM Conference in Miami from Kevin Page are now available. Mr. Page, the Parliamentary Budget Officer in Canada, described the challenges in legislative oversight during the current international financial crisis.

Good Practices in Implementing Government Financial Management Systems

Wayne Job, Senior Director, Office of the Comptroller General of Canada, described the methods of implementing and managing financial systems in the Government of Canada.

Mr. Job described that the Government of Canada spends billions of dollars in IT. Some of these projects do not have positive results. He pointed out that clients are accountability for the effectiveness of their systems. Processes come first, technology second. Software costs can often be a small factor of the entire IT costs. He described key principles for success:

• Government and departmental strategic IT plans.
• Investment plans for IT with an oversight committee.
• The total cost of ownership (TCO) needs to be analyzed.
• Large projects can generate cost overruns that embarrass the government.
  

Finance and Technology for More Effective Systems

Publish at Scribd or explore others: Internet & Technolog Research canade christine walker

Mr. Job says that there are so many delays in procurement that systems get implemented quickly. Often the system does not integrate across multiple needs such as supporting financial and non-financial reporting requirements.

Good practices in strategic planning was described including a 3 to 5 year plan with clear performance measurement. Finance managers have a value for money perspective, so the strategic plan must demonstrate what will be needed to achieve success.

Mr. Job says that government financial systems must be owned by the functional users, not Information Technology personnel. He described some of the factors in government budgeting in Canada. Most budget funds cannot be carried over to the following year in Canada, so many often acquire IT equipment near year end. IT staff has ballooned over the past few years in government departments.

Mr. Job recommends that software should be thought of as an asset where there will be a limited life span. Upgrades will be needed. He also described many of the hidden costs that increase the total cost. Software effectiveness is 5 to 10 years. Computers are obsolete by the time they are put into place.

Cost overruns have been very embarrassing to the government. The practice in Canada for large projects is to hire a large systems integrator and a different integrator to provide oversight. Government departments are encouraged to buy standard systems. The cost for custom systems is very high and difficult to maintain. Mr. Job encourages government departments to use standard processes in the Commercial Off-the-Shelf (COTS) software.

The Government of Canada has reduced the number of financial systems in use from over 50 to 7. Mr. Job expects that this will be reduced to 2 or 3 in the future.

Mr. Job described how the Auditor General of Canada was consulted about risk, controls and reporting for the stimulus package in Canada. There is a bill in Parliament that will mandate quarterly financial reports. Accountability will become more targeted in Canada. He expects much more oversight by the press in June. This includes non-financial measurements like the number of job created by a stimulus program.

The current systems in place in the Government of Canada do not generate the quarterly financial and non-financial reporting needed. Many IT systems have failed in the Government of Canada, as they have in many other countries. "Don't treat IT as a black box solution." Mr. Job says that "just like stimulus money, IT spending must be clearly managed, understood and explained to all."

Finance and Technology for More Effective Systems

Christine Walker, the CFO of the Canadian International Development Agency (CIDA) discussed the impact of the government stimulus package and the use of technology during a keynote at the 23rd Annual ICGFM Conference.

The stimulus package requires identifying risks. Based on these risk, internal controls need to be established. Effective reporting is essential. This need effective IT systems. Systems in use by the Canadian government were not designed to handle quarterly reporting, according to Ms. Walker.

Finance and Technology for More Effective Systems

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The budget bill that passed in January. Each department to receive the money needed to design systems and programs to achieve parliamentary approval. All submissions were accumulated to a single bill that was passed in Parliament, which has never been done in Canada before.

The challenge for government departments is the complex procurement process for all purchases over $25,000. This process is designed to protect the government. Ms. Walker suggested that it was very difficult to quickly manage stimulus procurement. Hiring people to help was very difficult and the government found that they had capacity problems. Vendors are able to appeal to the Canadian International Trade Tribunal should there be any mistake in the procurement process. This can delay procurements by over a year.

Ms. Walker identified numerous risks of delay such as complex environmental assessments and just-in-time project reporting. She indicated that the monitoring and reporting burden became significant. Timely and accurate information is required. The government needed to asses a certain level of risk. CIDA has created a vendor assessment and audit process to help pre-select a short list of vendors.

Parliament wants to know non-financial information. They want to know progress to date against the project plan. Governments are not used to reporting on financial and non-financial at the same time. It is imperative to use IT systems to compare projects according to Ms. Walker. Parliamentarians will demand why projects have not been completed in their ridings. She believes that the political environment will be very challenging. No one wants to be a CFO in the Government of Canada, according to Ms. Walker. IT systems are critical to support effective financial management for the stimulus package.

Government Budgeting in Uncertain Times

Kevin Page, Parliamentary Budget Officer, Parliament of Canada discussed budgeting in highly uncertain times at the 23rd Annual ICGFM Conference. Kevin Page, Parliamentary Budget Officer, Parliament of Canada discussed budgeting in highly uncertain times at the 23rd Annual ICGFM Conference. Parliamentarians in Canada are somewhat upset because of the unanticipated large surpluses. Canada has also had some high profile cost overruns.

Mr. Page described some of the challenges in the Parliamentary Budget Office. They do not have access to the same information as the executive. And, in the case of a minority government, there tends to be more political partisanship.

Icgfm Budgeting In Times Of Crisis A Canadian Perspective

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El Proceso Presupuestario en Tiempos de Gran Incertidumbre La Perspectiva del Oficial del Presupuesto

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The Canadian economy has weakened quickly according to Mr. Page. This includes job losses and reductions in consumer and business confidence. He described his office's analysis of stimulus. There was significant debate about whether Canada needed stimulus or whether any stimulus would be affected. Canada selected a stimulus of 2.5% of GDP. Mr. Page pointed out that many believe that Canada can do more because of a good debt to GDP ratio compared to Canadian trading partners.

The analysis by the Budget Office found that stimulus program will increase deficits significantly. The office believes that the Department of Finance estimates for revenue are overly optimistic. The Office also found that the net effect of the stimulus could be much lower because of reductions in taxes and the expectation that provinces and municipalities will match certain program. The opposition parties in Canada have been using these figures.

Is the Canadian stimulus package targeted and temporary? Mr. Page found that the stimulus package was very much targeted. However, not a lot of the package was oriented to low income people. The Office analyzed the Infrastructure Canada department where 1/3 of planned grants have not been disbursed.

The Office found that the stimulus package is temporary and meets the Government objectives. Mr. Page warned that these measures could become more permanent. Revenue can become constrained through structural deficits. The budget did not address how objectives for the reduction of debt to GDP ratios will be affected.

Mr. Page complimented the government in providing an excellent quarterly report on the stimulus. The Budget Office is tracking Canadian GDP. The government expectation for an increase in GDP has proven incorrect for the first quarter of 2009.

The crisis can enable governments to have more effective planning and targets. The Canadian government has not identified the medium term targets.

Lessons learned in Canada because of the crisis includes:

• Need for improved transparency and financial reporting. This includes culture change.


• Opportunity for increased scrutiny and accessibility to economic analysis


• Manage for long-term results and effects like the aging population and the affects of climate change