The Bureau of the Treasury (BTr) sustains its digitalization initiatives as it started implementing its National Government Collection and Disbursement System that allows authorized government depository banks to upload online daily and monthly collection reports to its electronic database, the Department of Finance (DOF) said yesterday.
The BTr said the system will also expedite the consolidation of reports and the process of issuing certificates of deposited national collections to national government agencies.
Carlos Dominguez, finance secretary has ordered all agencies attached to the DOF to implement their respective digital transformation programs long before the pandemic.
This year, the BTr also launched the Online Fidelity Bonding System to allow the electronic submission and processing of fidelity bonding requirements, and e-payments through the LinkBiz portal of the Land Bank of the Philippines.
The Treasury also has an online Records Management System and Legal Information Archive to facilitate its legal documentation and investigation functions.
Its other digitalization projects include upgrades to the National Registry of Scripless Securities, which modernized the existing auction and registry platforms and is capable of performing core functionalities including the full management of primary market activities; the electronic registry centralization and settlement of government securities; the tax-tracking of secondary market trades and the facilitation of securities transfers for trade and non-trade transactions.
In line with its financial inclusion initiatives, the BTr has also allowed the online submission of retail treasury bond orders, along with the online ordering of government securities, which has benefited small investors.
To simplify the monitoring and recording of the non-financial assets of the national government, the BTr has set up the National Asset Registry System, which maintains a comprehensive list of all strategically important assets such as land, buildings, roads, bridges, irrigation systems and dams.
This system will facilitate better management of these assets including the provision of necessary insurance measures, the BTr said.
The BTr has also put in place its Project Monitoring Information System that enables the monitoring of ongoing projects at each stage of procurement and implementation.
This system will automatically log milestones, updates and activities and alert the management for any possible delay. – Angela Celis
