Knowledge Exchange on Budget and Accounting Classification SystemJan 7, 2018
A day-long knowledge exchange event on new Budget and Accounts Classification System (BACS) was organized by Finance Division under the auspices of Inclusive Budgeting and Financing for Climate Resilience (IBFCR) project on 7th January 2018 at the office premises of Public Expenditure Management Strengthening Programme (PEMSP) of Finance Division, Ministry of Finance.The participants of the event included relevant staff of IBFCR and Local Government Initiative on Climate Change (LoGIC) projects and UNDP. Mr. Md Habibur Rahman, Program Director, PEMSP and Joint Secretary (Budget-1), Finance Division opened the event by welcoming the participants.
The objective of the event was to provide general orientation to the participants on the new BACS; and to identify the options for inclusion of climate dimension in the new BACS and financial management information system called iBAS++.
The discussion covered, among others, the topics like the concept and importance of budget classification system together with its evolution over time since 1938, the need for changing the existing classification system, an overview of new BACS together with its overall structure, linkage between iBAS++ and BACS. Finally, the options for inclusion of climate dimension the new BACS and iBAS++ were discussed.The discussion was followed by a simulation exercise meant for giving the participants a hands-on exposure.
The event was concluded with the closing remarks from Mr. Moinuddin Ahmed, Additional Programme Director, PEMSP.