BUDGET MANAGEMENT SYSTEM
The main objective of the Budget Management System (BMS) is to administer and supervise the government and public-sector spending.
BMS is a small banking system where the government and public-sector institutions act as customers. Accounts of government institutions are virtual accounts (e-accounts) inside the BMS system, real bank accounts where the real money is deposited are owned and handled only by the Ministry of Finance. This setup guarantees a central point of control and reporting of the whole public-sector spending and reduced costs of bank transactions.
The Budget Management System is usually integrated with the Budget Planning System (BPS) in order to automatically match spending with the budget lines. Matching spending and budget lines give the possibility to monitor the budget execution and the spending compliance at any moment.