PFM Lessons from the ICGFM Conference class=

PFM Lessons from the ICGFM Conference

FreeBalance attended the first post-pandemic in-person International Consortium of Government Financial Management (ICGFM) conference.

Important Takeaways

Our EVP of Strategy and Innovation provided daily takeaways via Twitter:

Proven linkages between PFM improvements – particularly controls, to improved public investment management results
Government digital transformation lesson learned from the pandemic: need to accelerate technology plans to achieve country resilience.
Lack of interoperability among finance software packages inhibited effective pandemic response by governments
Citizens at the heart of country resilience, wellbeing should be in government accounts
Public Financial Management is the brain for achieving country resilience
PFM is a toolkit for country resilience
Corruption is a multidimensional “wicked problem” requiring many interventions to mitigate
Program budgeting does not mean rigid rules, need for discretion for accountability
Combination of crises have increased public debt
Government digital transformation needs a platform approach to scale
Corruption restitution is a powerful tool
Many climate change linkages to public finances requiring the coordination of “Green PFM” concerns at all levels of government
Important that governments focus on citizen wellbeing to prioritize public finance allocations during crises