11/2/2022
The Financial Information Technology Division of The Ministry of Finance Mongolia is responsible for more than 10 fiscal and financial related important information systems of the government such as Government Financial Management Information System of the Treasury (GFMIS), the financial reporting system of budget organizations (E-Report), the financial reporting system of private organizations (E-Balance), Glass accounting system, Budget planning system, Debt management system, Integrated salary system of civil servants, and etc. Ensuring the security of these systems and the reliable operation of the database is a task that requires many factors such as time, human resources, and technological innovation, and it is not easy to solve it with state budget funds alone. Therefore, under the projects SFFS and SGM, we are working to improve and ensure the reliable operation of the databases of the Ministry of Finance's information systems, and to create an integrated database management system.
Within the framework of this project, the following main tasks were successfully completed. It includes:
As a result of the above activities carried out under the consulting services, the reliable and normal operation of the information systems of the Ministry of Finance has been significantly improved. For example, during reporting periods and on days with high system load, the problems of late reporting and Treasury transactions due to the database problems have decreased. Also, the results of the project can be seen in the improvement of the ability that quicker recovery time of the systems without data loss and issues when there is an error in databases due to any electrical or other hardware failures.
|
LAUNCHED BETA VERSION OF THE REDEVELOPED GLASS ACCOUNT PORTAL
1/20/2023
The Ministry of Finance Mongolia has developed and successfully launched the new version of the Glass Account Portal in 2023 within the framework of the Strengthening Governance in Mongolia Project jointly implemented by the EU and the World bank. |
|
New systems and services are added in the Intermediate service platform for fiscal and financial systems
1/11/2023
The Ministry of Finance Mongolia has developed and successfully launched the Intermediate Service Platform (ISP) in 2022 within the framework of the Strengthening Governance in Mongolia Project. The main purpose of the system is to provide a possibility of information /web services/ exchange between the independent systems of the Ministry of Finance and other organizations in a easy and flexible way. In addition, it is solving the issues of overlapping connections and development between many information systems and organizations, transferring them to a unified standard, making it has no complexity, and more secure. |
|
The State Great Hural has passed a law on Public Private Partnership at its plenary session
12/14/2022
The Ministry of Finance, in collaboration with national consultants and lawyers, introduced and prepared a draft law on Public Private Partnership as part of the technical assistance provided by the EU-funded "Strengthening Governance in Mongolia" Project implemented by the World Bank. A concept of the draft law on Public Private Partnership was approved and the draft law was submitted to the State Great Hural. A working group to draft the proposed law on Public and Private Partnership held a series of successful discussions and the State Great Hural passed the law on Public Private Partnership at its plenary session held on December 9, 2022. The Law on Public Private Partnership is to come into effect on July 1, 2023. |
|
The network infrastructure, equipment and systems of the Ministry of Finance have been located to a new data center
12/12/2022
Since moving to a new building in 2011, the Ministry of Finance has expanded its IT operations by placing servers, network and system equipment in a dedicated server room. The traditional layout of the server room, which fails to meet data center standards, has risks such as overheating, power failure, weak physical security protection, and the resulting loss of normal equipment operation. To eliminate and reduce these risks, a data center that meets the standards is essential, and the Ministry of Finance has launched a new data center that meets international standards with the support of the Asian Development Bank in 2022. |
|
RELEVANT REGULATIONS AND METHODOLOGIES ON THE VALUATION ARE BEING DEVELOPED IN CONNECTION WITH THE LATEST APPROVAL OF THE AMENDMENT OF THE LAW ON VALUATION
12/6/2022
After the Law on Valuation was first approved in 2010, the new revision of the Law on Valuation was approved by the Parliament of Mongolia in 2022 which was an important event in accelerating the development of the sector. In connection with the latest approval of the amendment of the Law on Valuation, as a next step towards addressing legal environment-related challenges, the Accounting Policy Department of the Ministry of Finance has been working on development and improvement of the relevant regulations and methodologies on the valuation, its organization, and quality control matters for the further development of the valuation service and ensuring the implementation of the law. |
|
DRAFT OF THE MID-TERM ROADMAP TOWARD IMPLEMENTATION OF ACCRUAL BASED IPSAS AND CHART OF ACCOUNTS FOR PUBLIC SECTOR ACCOUNTING BEING DEVELOPED
11/30/2022
As part of the Strengthening Fiscal and Financial Stability project, a consulting team has been developing draft of the mid-term roadmap toward implementation of accrual based International Public Sector Accounting Standards (IPSAS), economic classification and chart of accounts for public sector accounting and reporting. |
