Colombia - National Level Public Financial Management and Procurement Report : Status of the Public Financial Management and Procurement System

This Public Financial Management Performance Report (PFMPR) analyzes the performance of Colombia's public financial management (PFM) institutions, systems and processes. It documents areas where performance is close to or follows international good practice, as well as opportunities to further enhance PFM contribution to the goals of strengthening fiscal discipline, enabling more efficient allocation of resources, increasing operational efficiency, and fostering transparency. It is expected that the identified opportunities will strengthen further the Government of Colombia's programs of continuous PFM improvement, as provided for under the National Development Plan pillar regarding a state at the service of its citizens: efficient and effective Government. The main challenges cited in the report could also be an important reference to future development plans and PFM reforms. Ensuring the sustainability and trajectory of PFM programs becomes even more critical in the context of public expenditure policies to deal with the current international economic crisis. The study is based on the 28 high-level indicators and 69 individual dimensions that compose the PFM performance measurement framework. Each indicator seeks to measure performance of a key PFM element against a scale from A to D. The highest score is warranted for an individual indicator if the core PFM element meets the relevant objective in a complete, orderly, accurate, timely and coordinated way, based on existing good international practices.

Bibliographic Details

Main Authors:	World Bank, Inter-American Development Bank
Language:	English
Published:	World Bank 2009-06-30
Subjects:	ACCESS TO INFORMATION, ACCOUNTING, ACCOUNTS PAYABLE, ACCRUAL ACCOUNTING, ACTION PLAN, ACTION PLANS, ADMINISTRATIVE BODY, ADVERTISING, ALTERNATIVE DISPUTE RESOLUTION, ANNUAL BUDGET LAW, ARBITRATION, ARREARS, AUDIT FUNCTION, AUDIT OFFICE, AWARD OF CONTRACTS, BALANCE SHEET, BANK ACCOUNT, BANKING SECTOR, BENEFICIARIES, BID, BIDDER, BIDDERS, BIDDING DOCUMENTS, BIDS, BUSINESSES, CASH BALANCES, CASH FLOW, CASH FLOWS, CERTIFICATION, CHECKS, COLLECTION EFFORTS, COMPETITIVE PROCUREMENT, COMPETITIVENESS, CONCESSIONS, CONDITIONS OF CONTRACT, CONFLICT OF INTEREST, CONFLICTS OF INTEREST, CONTRACT ADMINISTRATION, CONTRACT AWARD, CONTRACT AWARD INFORMATION, CONTRACT AWARDS, CONTRACT EXECUTION, CONTRACT MANAGEMENT, CONTRACTORS, CONTRACTUAL DISPUTES, CONTROL FRAMEWORK, CONTROL MECHANISMS, CONTROL SYSTEM, CONTROL SYSTEMS, CORRECTIVE ACTIONS, CORRUPT PRACTICES, CORRUPTION, CURRENCY, CURRENT LAW, DATA INTEGRITY, DATA MINING, DATA PROCESSING, DEBT CONTROLS, DEBT DATA, DEPOSIT, DEVELOPMENT BANK, DISPUTE RESOLUTION, DIVORCE, DOMAIN, ECONOMIC DEVELOPMENT, EVALUATION CRITERIA, EVALUATION METHODS, EVALUATION SYSTEM, EVALUATION SYSTEMS, EXISTING LEGAL FRAMEWORK, EXPENDITURE, EXPENDITURES, EXTERNAL AUDIT, EXTERNAL AUDITING, FINAL SETTLEMENT, FINANCES, FINANCIAL ASSETS, FINANCIAL INFORMATION, FINANCIAL MANAGEMENT, FINANCIAL MANAGEMENT SYSTEM, FINANCIAL MANAGEMENT SYSTEMS, FINANCIAL STATEMENTS, FISCAL DISCIPLINE, FISCAL POLICIES, FISCAL REPORTING, FOREIGN FIRMS, FRAUD, FUNCTIONALITY, GOVERNANCE SYSTEM, GOVERNMENT ACCOUNTING STANDARDS, GOVERNMENT AUDITING, GOVERNMENT AUDITING STANDARDS, GOVERNMENT REVENUES, HUMAN RESOURCE, INFORMATION SYSTEM, INFORMATION SYSTEMS, INFORMATION TECHNOLOGY, INNOVATIONS, INSPECTION, INSTITUTION, INSTITUTIONAL ARCHITECTURE, INSTITUTIONAL CAPACITY, INSTITUTIONAL DEVELOPMENT, INSTITUTIONAL FRAMEWORK, INSTRUMENT, INTERESTED PARTIES, INTERFACES, INTERNAL AUDIT, INTERNAL AUDITS, INTERNAL CONTROL SYSTEMS, INTERNATIONAL STANDARDS, INTERNATIONAL TENDERS, INVESTMENT DECISIONS, ISSUANCE, LEGAL CAPACITY, LEGAL FRAMEWORK, LEGAL FRAMEWORKS, LEGAL SYSTEM, MARKET PRACTICES, MATERIAL, MATURITY, METHOD OF PROCUREMENT, MINISTRY OF FINANCE, NATIONAL BUDGET, NATIONAL PROCUREMENT, NEW LEGAL FRAMEWORK, OPEN COMPETITION, OPEN TENDERING, OPERATIONAL EFFICIENCY, PAYMENT SYSTEM, PENALTIES, PERFORMANCE INDICATOR, PERFORMANCE INDICATORS, POLICY FORMULATION, PRIVATE SECTOR, PRIVATE SECTORS, PROCEDURAL FRAMEWORK, PROCUREMENT, PROCUREMENT ACTIONS, PROCUREMENT DOCUMENTATION, PROCUREMENT ENTITIES, PROCUREMENT FUNCTION, PROCUREMENT METHOD, PROCUREMENT METHODS, PROCUREMENT OFFICER, PROCUREMENT OPERATION, PROCUREMENT OPERATIONS, PROCUREMENT PERFORMANCE, PROCUREMENT PLANNING, PROCUREMENT POLICY, PROCUREMENT PRACTICES, PROCUREMENT PROCEDURES, PROCUREMENT PROCESS, PROCUREMENT PROCESSES, PROCUREMENT PROTESTS, PROCUREMENT REQUIREMENTS, PROCUREMENT SPECIALISTS, PROCUREMENT SYSTEM, PROCUREMENT SYSTEMS, PROCUREMENT TRAINING, PROCUREMENT TRANSACTIONS, PROCUREMENT VOLUME, PRODUCTIVITY, PUBLIC, PUBLIC BUDGETING, PUBLIC DEBT, PUBLIC ENTITIES, PUBLIC FUNDS, PUBLIC INVESTMENT, PUBLIC OFFICIALS, PUBLIC PROCUREMENT, PUBLIC PROCUREMENT MARKET, PUBLIC PROCUREMENT OPERATIONS, PUBLIC PROCUREMENT SYSTEM, PUBLIC PROCUREMENT SYSTEMS, PUBLIC SECTOR BANK, QUALITY CONTROL, QUALITY STANDARDS, RECEIVABLES, RECURRENT COST, REGISTRY, REGULATORY FRAMEWORK, RELIABILITY, REQUESTS FOR PROPOSALS, RESULT, RESULTS, REVERSE AUCTIONS, RISK ASSESSMENTS, RISK AVERSION, RISK MANAGEMENT, SERVICE PROVIDER, SERVICE PROVIDERS, SETTLEMENT, STANDARD DOCUMENTS, STANDARDIZATION, SUPPLIERS, TARGETS, TAX, TAX ARREARS, TAX COLLECTION, TAX REVENUE, TECHNICAL SPECIFICATIONS, TENDER DOCUMENTS, TENDERS, TRANSACTION, TRANSACTION COSTS, TRANSPARENCY, TREASURY, TRUST FUNDS, USER, USERS, USES, VERIFICATION, WORKING CAPITAL,
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20100804235635 https://hdl.handle.net/10986/3190
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