SIGOF – Integrated System of Budget and Financial Management

SIGOF is an excellent instrument in terms of financial management of Cape Verde State. 

Its main goals are: budget control, management of costs, tax revenues and public counts management. The introduction of the Integrated System of Budget and Financial Management (SIGOF) since 2002 by the Operational Nucleus for Society Information – NOSi, through the integration, functional, organic and technological aggregation, allowed a considerable improvement in terms of State’s financial management.

It is currently an instrument for preparation, carrying out and monitoring of State’s General Budget (SGB) at all levels - that is, Central Power, Local Power, Founds and Independent Services. It includes a unique charging system (UCS) and an interface of services to the citizen in order to cover up the lack of specific investments in delivering services. It includes the following investments:

 
Budget Management; Treasury Management; Management of Project Investment; “Procurement”; “Monitoring and Evaluation”; Property Management; Electronic Payments; Management of Human Resources; Wages Processing; Revenue Management; Property Tax (PT);
Value Added Tax (VAT).

As it is a “Web-oriented” tool, it joints participation in a decentralized way of all State Institutions, in the various stages of State’s financial and budget management.

Outcomes

 
• Improvement of State’s financial and budget management;
• Transparency and speed in decision-making process and in analytical reporting;
• Recognition of the management model at international level;
• Allowed the country to be chosen by the Millennium Challenge Corporation (MCC) as Fiscal Agent and helped the country to be a success case study and bench marketing for the CPLC, WB, IMF and various USA universities.

Category: Public Finance

Present situation: concluded

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