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