In the public sector, the budget is a tool for accountability and transparency. The Public sector budgeting solution by SIL have enabled the Ministry of Finance and Economic Development (MOFED) in Mauritius to gain significant control and visibility on the public expenditure and borrowings of the national economy. By aggregating budgets throughout the public sector, MOFED has to monitor its expenditure activities against targets set through spending reviews and to take appropriate action to ensure that these targets are met.
The PBS system developed by SIL helps to achieve the following objectives set by MOFED:
- Assist in the planning expenditure to meet policy requirements
- Policy implementation and control
- Measures and Monitors performance
- Determines the total expenditure of the organisation and ensures that it is consistent with total revenues (eg fixing the rate of local taxation), leading to a balanced budget
- Provides the basis for authorising expenditure and collection of fees and charges
- Provides the basis for budgetary control
- Satisfaction of statutory requirements.