I commend the decision in 2013 to implement ITMIS. I believe the compilation, submission, and publication of financial accounts within an acceptable framework is required to address the issues that come up among stakeholders. Credible data in a timely manner is important to establishing trust.
– Secretary to the Treasury, Daily News Feb 2021
Supporting Fiscal Efficiency and Treasury Modernization in Sri Lanka
FreeBalance implemented the Integrated Treasury Management Information System (ITMIS) in Sri Lanka in 2013. The ITMIS is part of a major reform initiative towards improved fiscal management in Sri Lanka through the Fiscal Management Efficiency Project (FMEP) – an Asian Development Bank assisted project under the Ministry of Finance and Planning.
The ITMIS has enhanced the Government of Sri Lanka’s governance with web-based technology to improve transparency, accountability and development outcomes. The FreeBalance Accountability Suite™ is deployed government-wide in all spending agencies to automate the entire PFM lifecycle in Sri Lanka.
This modern technology platform has helped to accelerate government reform and economic development in support of the citizens of Sri Lanka.
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Sri Lanka’s PFM Achievements
World Governance Indicators
Sri Lanka’s scores for Voice and Accountability have dramatically improved.