Fiscal Agent Services
The Millennium Challenge Corporation (MCC) is a U.S. Government agency that focuses on assisting countries that demonstrate a commitment to good governance, economic freedom, and investing in people. The Government of Timor-Leste (GoTL / "Government"), represented by MCA-Timor-Leste, has applied for a grant funding from MCC, known as a Compact, and intends to apply a part of the proceeds of that grant to pay for contracts for goods, works and services. The United States of America, acting through the MCC, and the Government signed a grant agreement US$ 420 million grant agreement on July 2022 (MCC Funding) to address a key constraint to economic growth: low human capital. The Government is represented by the MCA Timor-Leste for the purposes of the Fiscal Agent Agreement.
The Fiscal Agent (FA) acts on behalf of MCA-Timor-Leste to provide a broad range of financial management services required by MCA-Timor-Leste to implement the activities funded under the CDF Agreement and the Compact with MCC Funding (the Program). In this capacity, the FA shall provide diligent oversights, discharge, and perform all services necessary to ensure that all financial management activities are conducted in strict compliance with the principles, rules, and procedures set forth to the Agreement between the MCC and the Government of Timor-Leste and any Supplemental Agreements as defined in the Compact.
GFA B.I.S. Services
GFA B.I.S. was contracted by GFA Consulting Group to design, configure, implement, train and support an automated accounting system based on Infor SunSystems Financial Management Software for the Fiscal Agent. The cloud-based system provides a high level of transparency through multiple dimensions of analysis and multi-currency. Specific modules for budget, commitment and invoice management have been integrated. Donor-specific reporting requirements are met through a pre-defined real-time reporting package in MS Excel®. In addition, GFA B.I.S. consultants are assisting MCA Timor Leste with the customization of the planned SAP system, including data migration, training and support.
Photo: GFA
