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Financial management information systems, treasury single accounts, and expenditure budget credibility: a moderation-effect approach
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DOI：10.1080/09540962.2026.2641194.png)
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Abstract
En 中文
Financial management information systems (FMIS) alone cannot ensure a credible expenditure budget and may even increase budgetary deviations if they are not effectively integrated with treasury single account (TSA) operations. The authors recommend that for countries expanding digital public financial management (PFM) infrastructure, reforms should prioritize FMIS-TSA integration and consolidated cash management, rather than standalone automation of budget execution. Stronger government effectiveness and e-participation further reinforce budget credibility. This article investigates whether financial management information systems (FMIS) enhance expenditure budget credibility and how their effectiveness depends on integration with the treasury single account (TSA). Using panel data including the GovTech Maturity Index (GTMI), the study estimates the absolute deviation of actual spending from approved budgets as a measure of budget credibility. The results indicate that expanded FMIS capability alone does not improve budget credibility and is associated with larger deviations when not integrated with TSA operations. However, when advanced FMIS is integrated with TSA operations, budgetary control improves significantly relative to non-integrated FMIS, resulting in reduced expenditure deviations. Moreover, the findings suggest that the positive effects of PFM digitalization are further reinforced in contexts with stronger government effectiveness and higher levels of electronic participation.
Keywords:
Expenditure budget credibility
expenditure budget control
financial management information system (FMIS)
public financial management (PFM)
treasury single account (TSA)
Journal
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IF:
2.1
Papers:
90
Citations:
0
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Cited Papers