Public Budget Module, planning instrument expressed in financial terms

Assuming that “Budget classification refers to all the coding systems that are used to define both income transactions and expenditure transactions in the budget planning, approval and budget execution stages, the budgetary classification, at a certain level of aggregation, is used to present the budget for the approval of the legislative branch and, once approved, it presents the legal limit of expenses, in the case of expenditure items, and the plan approved in the income case.” (Jacobs, H?lice, & Bouley, 2009, p. 10).

In accordance with the General Budget of the Nation and the Budget Classification Manual, and in order to have timely and transparent information that in turn complies with international standards, Alfapeople has the public budget module which allows carrying out the harmonization, hierarchy and structure of each of the budget items, disaggregating income and expenditure and the economic and functional classifiers at the different levels.

The budget structured by levels enables to have the information aggregated at a macro budget level and disaggregated in detail at the micro-budget level, and in turn, having the different classifications by the source of financing and object of expenditure.

At the time of creation, parameterization of each of the Income/Expense budget accounts (Item), the system concatenates the code, which allows the entire structure to be immersed and permits traceability in the execution of the budget, ensuring consistency in each of the records and guaranteeing the quality of the refined and correct information.

Additionally, and within the harmonization process, the aim is to establish a hierarchy at the level of each budget account. For this reason, functionalities such as auxiliary items disaggregated in detail and added at the account level or main item have been built in the tool.

The information is easy to consult and reports can be generated at any time of the budget execution within the corresponding periods and at the required level.

The Public Budget module is easy to use, it’s a tool with a proper traceability feature so the transactions are displayed correctly to ensure that the budget meets its ultimate purpose, which is to be accessible and have control of the origin and destination of public resources, and at the same time serve as an instrument for measurement, planning, execution, and control.

Are you interested in empowering your organization with Dynamics 365 and our Public Budget module? Do not hesitate to contact us! We have a team of expert consultants in the sector.