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The GoJ plans to extend the functionality of the CTMS by developing the Revenue Management

Module (RMM), which will address the current deficiencies in revenue recording. As a first step

towards the implementation of a government-wide JIFMIS, CTMS is being further enhanced to

function in a web-based environment. The web-enhanced version of the CTMS will centralize

the implementation of the current client-server FinMan budget execution application software

used in MDAs. It will facilitate version management of the application software and the related

look-up tables such as the Chart of Accounts. It will also provide a consolidated view of budget

execution in a single centralized database.

The project will be implemented along the following tracks:

i) Track 1 CTMS Development

The objectives of this track are to address the current deficiencies in revenue recording; increase

domestic revenue; as well as strengthen revenue policy and oversight of revenue collection; and

improve the receipt and processing of payment requests from the MDAs. This will include the

implementation of an upgraded version of the CTMS to a web-based environment without any

additional functionality by March 2019 (this has been achieved). This will be followed inter alia

by the introduction of consolidated financial reporting and automated bank reconciliation.

ii) Track 2 Development and implementation of the JIFMIS

The objectives of this component are to enhance cash management, government accounting and

reporting, debt management and improve revenue and expenditure forecasting by developing a

solution to replace the GOJ’s CTMS and integrating with other GoJ development projects that

can be considered components of the JIFMIS, such as:

1. Budget Preparation and Management System (BPMS)

2. Government of Jamaica Electronic Procurement (GOJEP)

3. Revenue Administration Information System (RAiS)

4. Automated System for Customs Data (ASYCUDA) -

5. Human Capital Management Enterprise System (referred to as ‘myHR+’)

6. Commonwealth Secretariat Debt Recording and Management System (CS-DRMS)

7. Central Securities Depository (CSD)

8. Pension Earnings and Pension Administration System (PEPAS)

9. Asset Management and Inventory and Shared Services system

10. Public Investment Management Information System (PIMIS)

The data flow of the envisioned process of JIFMIS System 1

is described in the diagram below.

1 Jamaica Integrated Financial Management Information System (JIFMIS) conceptual design January 2015

...
June 12, 2021


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TERMS OF REFERENCE

PROJECT MANAGER, JAMAICA INTEGRATED FINANCIAL MANAGEMENT SYSTEM (JIFMIS) PROJECT IMPLEMENTATION UNIT (PIU)

EXECUTIVE OFFICE, MINISTRY OF FINANCE AND THE PUBLIC SERVICE Page 3

look-up tables such as the Chart of Accounts. It will also provide a consolidated view of budget execution in a single centralized database.

Track 2 Development and implementation of the JIFMIS

The objective of this component are to enhance cash management, government accounting and reporting, debt management and improve revenue and expenditure forecasting by developing a solution to replace the GOJ’s CTMS and integrating with other GoJ development projects that can be considered components of the JIFMIS, such as:

1. Budget Preparation and Management System (BPMS) 2. Government of Jamaica Electronic Procurement (GOJEP) 3. Revenue Administration Information System (RAiS) 4. Automated System for Customs Data (ASYCUDA) - 5. Human Capital Management Enterprise System (referred to as ‘myHR+’) 6. Commonwealth Secretariat Debt Recording and Management System (CS-DRMS) 7. Central Securities Depository (CSD) 8. Pension Earnings and Pension Administration System (PEPAS) 9. Asset Management and Inventory and Shared Services system 10. Public Investment Management Information System (PIMIS)

The data flow of the envisioned process of JIFMIS System1 is described in the diagram below.

11.

1 Jamaica Integrated Financial Management Information System (JIFMIS) conceptual design January 2015

...
June 12, 2021


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7

some outstanding 2017 and 2019 bonds totaling US$743 million and

replacing them with longer term bonds that will mature in 2039.

Mr Speaker, I want to say a few words on the foreign exchange rate

market.

The value of the Jamaica dollar against the US dollar was J$127.90 on

September 16. The value has depreciated by 4.8 percent for the FY to date

compared with a depreciation of 3.2 percent in the same period of last FY.

Mr Speaker, I recognize that the depreciation of the Jamaica dollar in

recent weeks has triggered some legitimate concerns by local businesses

given that Jamaica has, according to the IMF, achieved a broadly

competitive exchange rate against its major trading partners.

Based on the available data, BOJ has indicated that the recent movements

(approximately 0.5 per cent per month) are more or less in line with its

expectations but noted that the higher than expected fiscal year-to-date

depreciation reflects the excessive movement of 3.6 per cent that took

place during the June quarter when unusually large capital account

transactions took place.

Additional demand during August correlates with increased private sector

credit expansion and a surge in imports as reflected in customs data from

the ASYCUDA system.

...
June 12, 2021


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Though the CTMS has matured as a budget control and payment system, it may not be able to continue to leverage the fast-evolving technological developments in the ICT environment, to meet the growing needs for transparency and accountability of government towards its citizens.

The GoJ plans to extend the functionality of the CTMS by developing the Revenue Management Module (RMM), which will address the current deficiencies in revenue recording. As a first step towards the implementation of a government-wide JIFMIS, CTMS is being further enhanced to function in a web-based environment. The web-enhanced version of the CTMS will centralize the implementation of the current client-server FinMan budget execution application software used in MDAs. It will facilitate version management of the application software and the related look-up tables such as the Chart of Accounts. It will also provide a consolidated view of budget execution in a single centralized database.

The project will be implemented along the following tracks:

i) Track 1 CTMS Development

The objectives of this track are to address the current deficiencies in revenue recording; increase domestic revenue; as well as strengthen revenue policy and oversight of revenue collection; and improve the receipt and processing of payment requests from the MDAs. This will include the implementation of an upgraded version of the CTMS to a web-based environment without any additional functionality by March 2019 (this has been achieved). This will be followed inter alia by the introduction of consolidated financial reporting and automated bank reconciliation.

ii) Track 2 Development and implementation of the JIFMIS

The objectives of this component are to enhance cash management, government accounting and reporting, debt management and improve revenue and expenditure forecasting by developing a solution to replace the GOJ’s CTMS and integrating with other GoJ development projects that can be considered components of the JIFMIS, such as:

1. Budget Preparation and Management System (BPMS) 2. Government of Jamaica Electronic Procurement (GOJEP) 3. Revenue Administration Information System (RAiS) 4. Automated System for Customs Data (ASYCUDA) - 5. Human Capital Management Enterprise System (referred to as ‘myHR+’) 6. Commonwealth Secretariat Debt Recording and Management System (CS-DRMS) 7. Central Securities Depository (CSD) 8. Pension Earnings and Pension Administration System (PEPAS) 9. Asset Management and Inventory and Shared Services system 10. Public Investment Management Information System (PIMIS)

...
June 12, 2021


Page 3

3 | P a g e    

The GoJ plans to extend the functionality of the CTMS by developing the Revenue Management Module (RMM), which will address the current deficiencies in revenue recording. As a first step towards the implementation of a government-wide JIFMIS, CTMS is being further enhanced to function in a web-based environment. The web-enhanced version of the CTMS will centralize the implementation of the current client-server FinMan budget execution application software used in MDAs. It will facilitate version management of the application software and the related look-up tables such as the Chart of Accounts. It will also provide a consolidated view of budget execution in a single centralized database.

The project will be implemented along the following tracks:

i) Track 1 CTMS Development

The objectives of this track are to address the current deficiencies in revenue recording; increase domestic revenue; as well as strengthen revenue policy and oversight of revenue collection; and improve the receipt and processing of payment requests from the MDAs. This will include the implementation of an upgraded version of the CTMS to a web-based environment without any additional functionality by March 2019 (this has been achieved). This will be followed inter alia by the introduction of consolidated financial reporting and automated bank reconciliation.

ii) Track 2 Development and implementation of the JIFMIS

The objectives of this component are to enhance cash management, government accounting and reporting, debt management and improve revenue and expenditure forecasting by developing a solution to replace the GOJ’s CTMS and integrating with other GoJ development projects that can be considered components of the JIFMIS, such as:

1. Budget Preparation and Management System (BPMS) 2. Government of Jamaica Electronic Procurement (GOJEP) 3. Revenue Administration Information System (RAiS) 4. Automated System for Customs Data (ASYCUDA) - 5. Human Capital Management Enterprise System (referred to as ‘myHR+’) 6. Commonwealth Secretariat Debt Recording and Management System (CS-DRMS) 7. Central Securities Depository (CSD) 8. Pension Earnings and Pension Administration System (PEPAS) 9. Asset Management and Inventory and Shared Services system 10. Public Investment Management Information System (PIMIS)

The data flow of the envisioned process of JIFMIS System1 is described in the diagram below.

  1 Jamaica Integrated Financial Management Information System (JIFMIS) conceptual design January 2015

...
June 12, 2021


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