The MIF has its origins in the fiscal dimension to the SMI. It is referred to in the report of the working group on the Accountability of Secretaries General and Accounting Officers, or the Mullarkey report, in the context of having the capacity to improve the financial management processes in Departments and offices. The introduction and development of the MIF was not recommended in the report.
My Department undertook a considerable body of work in advance of the MIF. A number of studies were undertaken to assess the financial systems that would best serve the needs of my Department. Subsequently, a new financial management system was acquired and commissioned with effect from the commencement of the current financial year.
The new system should generate efficiencies in the Department by, inter alia, introducing more streamlined processes for making payments and bringing receipts to account. My Department intends to exploit the potential benefits that can accrue from the extensive functionality of the new financial management system. It will entail maximising the use and value of information available from the system so that informed and timely management decisions can be taken to the greatest extent possible.