Budget Management Tool (BMT)
What is the Budget Management Tool (BMT)?
BMT is a web based application to help local governments prepare technically correct budgets in a quick and simple manner. By entering information in a pre defined format, the budget can be prepared in an objective and informed way. This Package consist of four modules, Revenue Management Tool (RMT), Budget Preparation Tool (BPT), Budget Review Tool (BRT) and Budget Tracking Tool (BTT).
Why do we need BMT?
The efficiency and effectiveness of local governments depend on how citizens’ priories and needs are identified and addressed. However, before embarking on this need identification exercise, it is critical to understand the existing financial situation of the Councils and Pradeshiya Sabhas. The challenge of allocating funds across various heads would follow. This would require maintaining correct financial ratios at correct levels in the process of preparing the budget and also, to track spending trends once the budget is passed and programs being implemented. All these steps are tedious if they are to be done manually. BMT is a solution to simplify this tedious work, save me and provide more information for decision makers.