World Bank2012-03-192012-03-192010-06-01https://hdl.handle.net/10986/2973This summary assessment uses indicator-led analysis to provide an integrated assessment of the Public Financial Management (PFM) system which draws on international standards developed by various development partners. The purpose is to measure PFM performance across a wide range of development over time. The Public Expenditure and Financial Accountability (PEFA) methodology includes the best conditions that some Organization for Economic cooperation and Development (OECD) countries demonstrate and in this assessment it is important to consider the Bhutanese context, that it is a small country, traditionally with an agricultural base society with relatively lesser industry and commerce. It is unable to support a financial sector infrastructure in terms of accountancy and audit standard setting and the availability of international standards is of great assistance. The 31 indicators for the PFM system focus on the basic qualities of a PFM system operating to existing good international practices, and assessments are classified A (excellent), B (good), C (opportunities for some improvement) and D (in need of substantial improvement in some areas or information not available for the assessment). Each indicator may have 1-4 dimensions each of which is assessed independently. The overall score for the indicator is based on the scores for the constituent dimensions in accordance with scoring rules established in the PEFA PFM framework document. In some circumstances a plus sign is added where the indicator takes on the score of the lowest scoring dimension but other dimensions have higher scores.CC BY 3.0 IGOACCESS TO SAFE WATERACCOUNTABILITYACCOUNTINGACCOUNTING SYSTEMAGGREGATE EXPENDITUREAGGREGATE FISCALAGGREGATE FISCAL DISCIPLINEAGGREGATE REVENUEALLOCATION OF BUDGET RESOURCESANNUAL BUDGETANNUAL BUDGET PROCESSANNUAL FINANCIAL STATEMENTSANNUAL REPORTANNUAL REPORTINGARTICLEASSESSMENT PROCESSAUDITOR GENERALAUDITORSBALANCE OF PAYMENTSBUDGET ALLOCATIONSBUDGET COMPREHENSIVENESSBUDGET CREDIBILITYBUDGET CYCLEBUDGET DEVELOPMENTBUDGET DOCUMENTATIONBUDGET EXECUTIONBUDGET EXPENDITUREBUDGET LAWBUDGET OUTCOMESBUDGET POLICYBUDGET PREPARATIONBUDGET PROPOSALBUDGET REPORTBUDGET REVIEWBUDGET SUPPORTBUDGET TRANSFERSBUDGETARY ALLOCATIONSBUDGETARY OUTCOMESBUDGETARY SYSTEMCAPACITY BUILDINGCAPITAL EXPENDITURECAPITAL EXPENDITURESCAPITAL PROJECTSCAPITAL SPENDINGCASH BALANCESCASH BASISCASH FLOWCASH MANAGEMENTCASH POSITIONCENTRAL AGENCIESCENTRAL BANKCENTRAL BUDGETINGCENTRAL GOVERNMENTCIVIL SERVANTSCIVIL SERVICECORPORATE INCOME TAXCORPORATION INCOME TAXDEBTDEBT MANAGEMENTDEBT SERVICEDEBT SUSTAINABILITYDECENTRALIZATIONDEMOCRATIC SYSTEMDOMESTIC REVENUEDONOR COORDINATIONECONOMIC GROWTHECONOMIC POLICYECONOMIC STABILITYEXPENDITURE MANAGEMENT SYSTEMEXPENDITURE POLICYEXPENDITURESEXTERNAL ASSISTANCEEXTERNAL AUDITEXTERNAL DEBTFINANCE MINISTRYFINANCIAL ACCOUNTABILITYFINANCIAL INFORMATIONFINANCIAL INSTITUTIONSFINANCIAL MANAGEMENT INFORMATIONFINANCIAL MANAGEMENT INFORMATION SYSTEMFINANCIAL POSITIONFINANCIAL SECTORFINANCIAL STATEMENTFISCAL BALANCEFISCAL DEFICITFISCAL DEFICITSFISCAL FRAMEWORKFISCAL IMPLICATIONSFISCAL INFORMATIONFISCAL POLICYFISCAL POSITIONFISCAL REPORTINGFISCAL RISKFISCAL RISKSFISCAL TRANSPARENCYFISCAL YEARSGOVERNMENT ACCOUNTINGGOVERNMENT BUDGETGOVERNMENT BUDGET MANAGEMENTGOVERNMENT EXPENDITURESGOVERNMENT FINANCEGOVERNMENT FINANCE STATISTICSGOVERNMENT FUNDINGGOVERNMENT POLICYGOVERNMENT PRIORITIESGOVERNMENT REVENUEGOVERNMENTAL FISCAL RELATIONSGROSS DOMESTIC PRODUCTHEALTH SERVICESINCOME TAXINFLATIONINFORMATION FLOWSINTERNAL AUDITINTERNAL CONTROLINTERNAL CONTROLSLEGISLATIVE SCRUTINYLOCAL GOVERNMENT BUDGETSLOCAL REVENUELOCAL TAXESMEASURED PERFORMANCEMEDIUM TERM EXPENDITUREMEDIUM TERM EXPENDITURE FRAMEWORKSMINISTRY OF FINANCENATIONAL BUDGETNATIONAL DEBTNATIONAL GOVERNMENTNATIONAL INCOMENATIONAL STATISTICSOUTCOME INFORMATIONPERFORMANCE AUDITPERFORMANCE INDICATORPERFORMANCE MEASUREMENTPERSONAL INCOMEPERSONAL INCOME TAXPOVERTY REDUCTIONPOVERTY REDUCTION STRATEGYPRIVATE ENTERPRISESPRIVATE SECTORPRIVATE SECTOR GROWTHPROCUREMENT FUNCTIONPROCUREMENT POLICYPROCUREMENT SYSTEMSPROGRAMSPUBLIC ACCOUNTSPUBLIC ADMINISTRATIONPUBLIC CORPORATIONPUBLIC DEBTPUBLIC ENTERPRISEPUBLIC ENTERPRISESPUBLIC EXPENDITUREPUBLIC EXPENDITURE MANAGEMENTPUBLIC FINANCEPUBLIC FINANCIAL MANAGEMENTPUBLIC FINANCIAL MANAGEMENT SYSTEMPUBLIC INTERESTPUBLIC MONEYPUBLIC PROCUREMENTPUBLIC RESOURCESPUBLIC SECTORPUBLIC SECTOR ACCOUNTINGPUBLIC SECTOR ENTITIESPUBLIC SERVICEPUBLIC SERVICESPUBLIC SPENDINGQUALITY OF LIFEQUALITY STANDARDSRECURRENT EXPENDITURERECURRENT EXPENDITURESREFORM PROCESSREFORM PROCESSESREFORM PROGRAMREFORM STRATEGYREGULATORY FRAMEWORKROAD NETWORKSALES TAXSALES TAX SYSTEMSELF-ASSESSMENTSERVICE DELIVERYSOCIAL INDICATORSSOCIAL SERVICESSTATE ENTERPRISESSTRATEGIC ALLOCATIONSTRATEGIC ALLOCATION OF RESOURCESSUPREME AUDIT INSTITUTIONSUPREME AUDIT INSTITUTIONSSUSTAINABILITY ANALYSISTAX ADMINISTRATIONTAX BASETAX PAYMENTSTAX RATESTAX REVENUETAX REVENUESTOTAL EXPENDITURETRANSPARENCYUNFUNDED LIABILITIESWorld Bank10.1596/2973