financial statements . The Excel-based tool allows compilation of integrated GFSstatements using accounting data from financial statements. It supports compilation of GFS for a single year for multiple entities, irrespective of whether they are market or non-market entities, provided financial statements used in the compilation process have at a minimum, detailed data on the respective entity’s balance sheet and income statement. The tool produces mainly two GFSstatements: (i) a statement of operations, and (ii) a balance sheet, but also produces detailed tables on
institutional table ; however, progress in finalizing the list remains slow, which reduces the scope for timely including all entities making up the budgetary central government (e.g. parastatals and autonomous bodies) in GFS currently compiled.
C. GFS Compilation for the Budgetary Central Government
Updated GFS Compilation File
9. The mission upgraded the existing GFS compilation file (the SGO_DB) . The compilation file maps source data from CBL, the IFMIS, and the Debt department into a detailed GFSstatement of operations and also included output sheets in the
This Technical Assistance Report discusses the findings and recommendations made by the IMF mission regarding compilation of Government Finance Statistics (GFS) in Lesotho. The IMF mission reviewed current compilation methods of GFS for the budgetary central government and found that there were significant accuracy, classification, coverage, and comprehensiveness issues that undermine the credibility of fiscal statistics currently compiled and disseminated. Currently compiled and disseminated GFS include a large and persistent statistical discrepancy. The statistical discrepancy averaged to about a third of total revenue in preliminary data for FY2016/17 and FY2017/18. The mission also identified and discussed with the staff of the Ministry of Finance a number of reasons that may partly explain the discrepancy.
In response to a request from the authorities and as part of the United Kingdom’s Department for International Development (DFID) Enhanced Data Dissemination Initiative (EDDI) 2 project, a Government Finance Statistics (GFS) mission visited Lusaka, Zambia, during November 19–30, 2018. This was the third mission to Zambia under the DFID EDDI2 project, following the March 2016 and November 2017 missions. The mission worked essentially with staff at the Zambia Central Statistical Office (CSO) Public Finance Unit (PFU), but also had meetings with staff from the Ministry of Finance’s Accountant General, Budget, Investment and Debt Management, and Economic Management departments.
statement of changes in equity.
6. In a separate sheet, compile a “GFS Dashboard” which is based on the top-level GFS codes in the source data sheet. The GFS Dashboard serves as a “check” to ensure internal consistency of the GFS data compiled, both at an aggregated level as well as at a detailed level. Ideally, there should be no discrepancies in the GFS Dashboard data.
7. In a separate sheet, compile the detailed GFSstatements, as shown in Appendix I : statement of operations (transactions), statement of other economic flows, and balance sheet. A “total flows
2020. Reporting from the application, when it is completed, using data on the performance against the budget, from the “Yellow Book” would constitute a comprehensive and consistent data source for compilation of GFS for the local government going forward. Efforts to bring the project to fruition should be maintained.
Compilation of GFS Using Existing Data for Local Government
19. The mission compiled a partial GFSstatement of operations using data currently available at the CSO . Using data that the PFU at the CSO had transcribed from reports collected from
International Monetary Fund. Asia and Pacific Dept
Technical Assistance : Fund CD has been closely integrated with policy priorities. Recent Fund CD has included support in several areas, including macroeconomic programming and analysis, public financial management, revenue administration, financial sector surveillance, and macroeconomic statistics. CD support in many of these areas is expected to continue, with expected TA and training focusing on the government financial statistics, including the automation of the GFSstatement of operations into the new FMIS; regulatory reform in finance sector supervision
In response to a request from the authorities and as part of the Data for Decisions (D4D)1 funded project under the submodule for Fiscal and Debt reporting, a government finance statistics (GFS) technical assistance (TA) mission was held remotely with the Lesotho Ministry of Finance (MOF) during April 5–16, 2021. Previous TA missions under the Enhanced Data Dissemination Initiative (EDDI2) over the period spanning from 2016 to 2020 assisted the MOF to improve GFS compilation and dissemination for the budgetary central government (BCG) and inspired action to broaden data coverage to include local governments and extrabudgetary units (EBUs) with the aim to compile and disseminate consolidated general government GFS. Preliminary local government GFS have now been compiled, and data collected for selected state-owned enterprises (SOEs) and parastatals, including non-market SOEs that can now contribute to preliminary general government GFS to be compiled.
statements of local government entities and compiled data for 10 district councils using financial statements for FY2016/17. Using the data, the mission compiled three GFSstatements: (1) a statement on sources and uses of cash; (2) a statement of operations; and (3) a balance sheet. No data was available for Maseru City Council (MCC) to be included in template.
6. The mission reviewed a draft of the chart of accounts currently under development . The mission made recommendations for improvements aiming mainly at: (1) using the opportunity of an update of the chart to