Accounting and Budgeting (RAB)
What the Treasury expects
has already offered the Treasury the opportunity to improve the management
of the department through:
of the aim and objectives of the department as a result
of compiling the Public Service Agreement (PSA) and Output and
Performance Analysis (OPA) targets.
financial systems from the need to provide more sophisticated
financial information for resource accounts.
opportunities will be greatly increased in the future as a result
of RAB information becoming available. Examples include:
management information for planning and control purposes
information for capital appraisal and costing decisions
clarity on departmental assets holdings and an improved ability
to manage the department's assets
monitoring of performance through PSAs and OPAs
financial awareness through the Treasury, covering not only RAB,
but financial management more generally.
improvements are enhanced by the ability of the Treasury
conduct its role of planning, monitoring and controlling public
expenditure with improved information
supplement the existing macroeconomic aggregated with new accruals-based
PFO, HM Treasury