## 1. FY 2013/14 GFS Source Data by General Government Subsector and Major Economic Classification

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### Executive Summary
- Mission composition and dates:
  - Brooks Robinson (AFE GFS Advisor), Ismael Ahamdanech Zarco (GFS expert), Clément Ncuti (GFS expert); joint with AFR Senior Economist Tobias Roy.
  - Mission dates: January 18–29, 2016.
- Main objectives:
  - Assess progress on GFSM 2014 implementation.
  - Assist alignment of compilation and dissemination of GFS with GFSM 2014.
  - Assist compilation of general government finance statistics for FYs 2013/14 and FY 2014/15 and develop metadata.
  - Reconcile externally-financed investment spending in IFMS with underlying project loans and grants.
  - Assist in developing plans to establish an integrated DMX system for disseminating fiscal and debt statistics.
  - Assist planning to compile high-frequency data required by IMF STA and AFR during transition from GFSM 1986 to GFSM 2014.
- Key conclusions:
  - MINECOFIN should officially assign GFS compilation duties to a specific subset of staff; the existing GFS TWG operates on an ad hoc basis and membership changes.
  - MPU appears well placed to perform permanent GFS compilation and dissemination duties but should be allocated appropriate resources.
  - Authorities are nearly complete in automating IFMS to produce annual and high-frequency GFSM 2014-compliant data for BCG, most EBUs, and all LGs on a timely basis.
  - Remaining tasks: add remaining EBUs, SSFs, and development projects to IFMS; finalize bridging from GFSM 1986 to GFSM 2014.
  - AFR continues to gather GFSM 1986-based GFS; reverse-mapping to GFSM 1986 is increasingly problematic and AFR may consider transitioning monitoring to GFSM 2014-based statistics.
- Main recommendations (summary):
  - Decide on a permanent assignment of GFS compilation and dissemination duties.
  - Complete automation of the GFS compilation process through IFMS by integrating RRA and incorporating remaining EBUs, SSFs, and development projects.
  - Implement an integrated DMX fiscal data dissemination system with STA and AFR.
  - Agree on a near-term transition plan for discontinuing GFSM 1986 reporting to AFR.
  - Expand fiscal reporting to include stocks of financial assets and liabilities.
  - Finalize and implement the GFS data quality improvement work program drafted in November 2015.

### Legal and Institutional Framework
- Relevant national legislation:
  - Organic Law on State Finances and Property (Law No. 12/2013, issued on September 12, 2013).
  - Ministerial Order on Financial Regulations (N°001/16/10/TC of 26/01/2016).
  - Both assign responsibilities for fiscal reporting, timelines, and frequency to the Minister of Finance and to MINECOFIN.
- Regional requirement:
  - EAMU Protocol of November 2013, ratified by Law No. 24/2014 (issued on August 5, 2014), requires harmonization and coordination of fiscal policies and statistical frameworks for the EAMU.
- Outstanding issue and mission view:
  - Which MINECOFIN department should be permanently assigned to compile and disseminate GFS.
  - Mission view: MPU is a well-qualified candidate; if selected, MPU should receive appropriate resources.
- Recommendation:
  - As a short-term priority, MINECOFIN should decide which department or office is permanently tasked with compiling and disseminating GFS.

### GFSM 2014 Implementation Plan and Status
- TWG and plan:
  - GFS TWG established and an implementation plan adopted in 2014.
  - Financial asset and liability items in the CoA aligned with GFSM 2014 within the CoA approved for the 2015/16 budget.
- Pending tasks:
  - Translate historical series into GFSM 2014.
  - Compile GFSM 2014-compliant public sector debt statistics.
  - Complete COFOG-based fiscal data compilation.
- Recommendation:
  - Authorities should accelerate efforts to complete the TWG’s roadmap.

### Compilation approach for FY 2013/14
- General approach:
  - Mission guided compilation in a GFSM 2014 Statement of Operations framework; FY 2014/15 to follow using lessons learned.
  - Revenue source data: RRA provided on a cash (when received) basis.
  - Expense, NANFA, and NIL: tabulated from IFMS on a “payment order” (ordonnancement) basis (an accrual-like concept).
  - Inconsistency prevented compiling a Statement of Sources and Uses of Cash for FY 2013/14; IFMS can tabulate on payment (cash) basis given sufficient time.
- Recommendation implicit in compilation work:
  - Harmonize recording bases and ensure IFMS coverage to allow consistent Statements of Operations and cash statements.

### Source data by subsector and major economic classification (summary of Table 1)
- Budgetary Central Government (BCG) sources:
  - Revenue: RRA; most nontax revenue from NBR.
  - Expense: DMFAS and IFMS.
  - NANFA: IFMS, RB.
  - NAFA: IFMS, NBR (DCS), GPMU, TD.
  - NIL: DMFAS.
- Central Government EBUs:
  - All economic classifications: combination of AAFR, AGD, and IFMS.
- Social Security Funds (the two existing SSFs):
  - All economic classifications: AAFR.
- Local Governments (LG):
  - All economic classifications: IFMS.

### Adjustments to ensure GFSM 2014 conformance (selected by subsector)
- A. Budgetary Central Government (BCG)
  - Revenue:
    - Monthly tax Revenue compiled by RRA; revenue not captured in IFMS.
    - Bridge table developed to translate RRA monthly tax Revenue data into GFSM 2014.
    - Current Grants from NBR reports; capital Grants from Rwanda’s budget.
    - All revenue data on a cash basis.
  - Expense and recording practices:
    - All BCG Expense data captured in IFMS and available real-time.
    - Two IFMS datasets generated: ordonnancement (accrual-like) used for GFS reporting; payment (cash) basis used to compute “float” (Other accounts payable).
    - Interest Expense recorded in IFMS; DMFAS interest data used as source for GFS reporting.
  - NANFA and NAFA:
    - Domestically-financed NANFA from IFMS; externally-financed NANFA compiled from capital Grants (RB) and capital Loans (DMFAS).
    - Disposals of nonfinancial assets from TD and GPMU.
    - NAFA: Debt securities, Loans, Equity from IFMS; Currency and deposits from NBR DCS.
  - NIL:
    - Incurrence of liabilities from DMFAS; repayments recorded in IFMS but DMFAS used for GFS reporting.

- B. Extrabudgetary Units (EBUs)
  - Source data from AAFR, AGD, or IFMS; one EBU (RURA) operated outside IFMS and reported via AAFR.
  - IFMS nomenclature inconsistencies corrected (e.g., Grants vs Other current transfers).
  - Misclassifications corrected (e.g., disposal of nonfinancial assets misclassified as Other revenue).
  - NAFA and NIL presented as stocks; flows derived from stock changes.
  - Aggregation: AAFR, AGD, and IFMS data aggregated to produce total EBU GFS.

- C. Social Security Funds (SSFs)
  - GFS compiled for RSSB and MMI from AAFR; generally comprehensive with small statistical discrepancy.
  - A grant from BCG to MMI omitted in MMI’s financial report; mission corrected the oversight and recommended MMI record such grants in future reports.
  - AAFR time lag limits timeliness of GFS compilation.

- D. Local Governments (LG)
  - All LG classifications derived from IFMS; methodology applied consistent with EBUs.

### Consolidated dataset results (FY 2013/14) — key figures (Billions of FRw)
- From consolidated GFS dataset (Appendix IV):
  - Total revenue (line 1): 1,577.7
  - Total expense (line 2): 950.0
  - Net operating surplus (line 3): 627.8
  - NANFA (line 4): 706.4
  - Net borrowing (line 5): 78.6
- Right-most column, second page:
  - Net financing (line 3): 120.2 (result of 14.1 in NAFA (line 4) less 134.3 in NIL (line 5))
  - Statistical discrepancy (line 2): 41.6
  - Statistical discrepancy equals 2.6 percent of Total revenue and 4.4 percent of Total expense.
- Quality assessment:
  - The size of the Statistical discrepancy indicates the dataset balances well and is of very good quality.
  - Mission concludes similar methodologies applied for FY 2014/15 (with required modifications) would produce a very good quality GFS dataset for dissemination.

### Detailed consolidated figures (selected, Billions of FRw)
- Total Revenue (Consolidated Total General Government): 1,577.7
- Central Government (Total Central Government): 1,386.0
- BCG revenue: 1,338.8
- SSFs: 90.8
- Local Government consolidation adjustment: (43.7)
- BCG — Taxes: 728.0
- BCG — Social contributions: 0.0
- Total Taxes (Consolidated Total General Government): 740.1
- BCG — Grants: 474.3
- SSFs — Grants: 54.8
- Consolidation adjustment for Grants: (43.7)
- Total Grants (Consolidated Total General Government): 517.1
- BCG — Other revenue: 136.5
- SSFs — Other revenue: 36.1
- Total Other revenue (BCG + SSFs): 172.5
- Local Government — Other revenue: 34.2
- EBUs — Other revenue: 22.2
- Consolidation adjustment for EBUs: (245.5)
- Total Other revenue (Consolidated Total General Government): 228.9

### Expenses and financing aggregates (Billions of FRw)
- Expenses breakdown (selected rows; presentation corresponds to table formatting in source):
  - Total expenses (aggregate rows): 882.9; 72.7; (43.7); 912.0; 43.5; 239.9; (245.5); 950.0
  - Compensation of employees: 153.5; 34.0; 187.5; 5.7; 136.4; 329.6
  - Use of goods and services: 278.6; 36.8; 315.4; 3.6; 43.7; 362.7
  - Interest: 43.6; 0.0; 43.6; 0.0; 0.5; 44.1
  - Grants (including intra-government adjustments): 289.1; 0.0; (43.7); 245.5; 0.0; 0.0; (245.5); 0.0
  - Social benefits: 22.9; 0.2; 23.0; 29.3; 22.0; 74.3
  - Other expense: 32.2; 1.4; 33.7; 3.2; 37.0; 73.8
- Consolidated government balances:
  - Net operating balance (1-2): 455.9; 18.1; 0.0; 474.0; 86.0; 67.8; 0.0; 627.8
  - Net acquisition of nonfinancial assets: 639.7; 10.7; 650.4; (16.3); 72.3; 706.4
  - Net lending (+) /borrowing (-) (3-4): (183.8); 7.4; 0.0; (176.4); 102.2; (4.4); 0.0; (78.6)
- Statistical discrepancy and net financing:
  - STATISTICAL DISCREPANCY (1-3): 37.3; (1.7); 0.0; 35.6; 1.6; 4.4; 0.0; 41.6
  - Net Financing (4-5): (221.1); 9.1; 0.0; (212.1); 100.7; (8.8); 0.0; (120.2)

### Financial asset and liability flows (selected, Billions of FRw)
- Net acquisition of financial assets (total): (91.3); 8.7; 0.0; (82.7); 104.3; (7.6); 0.0; 14.1
  - Currency and deposits: (149.9); 2.2; (147.7); 89.6; (5.2); (63.3)
  - Loans: 58.6; 0.0; 58.6; (2.8); 0.0; 55.7
  - Equity and investment fund shares: 0.0; 0.0; 0.0; 29.0; 0.0; 29.0
  - Other accounts receivable: 0.0; 6.5; 6.5; 7.3; (2.4); 11.3
- Net incurrence of liabilities (total): 129.8; (0.4); 0.0; 129.4; 3.7; 1.2; 0.0; 134.3
  - Debt securities: 35.4; 0.0; 35.4; 0.0; 0.0; 35.4
  - Loans: 93.4; 1.5; 94.9; 0.0; (0.5); 94.5
  - Other accounts payable: 1.0; (1.9); (0.9); 3.4; 1.7; 4.2

### Reconciliation of external resources and project expenditure — key findings and recommendations
- Key findings on difficulties:
  - Timely and consistent records for development projects’ expenditure and external resource flows are difficult; gaps and delays create substantial discrepancies.
  - Donor information during budget planning may not distinguish properly between Grants and Loans.
  - Time lags in audited project spending reports and donor “direct payments” to foreign suppliers leave no record in the domestic payment system.
  - Grants in kind valuation problems, particularly for technical assistance services.
- Improvements and practices:
  - Authorities reconciled datasets from Public Investment Plan planning departments, consolidated donor disbursement plans, and line ministries’ spending projections.
  - Creation of SPIUs embedded in line ministries improved monitoring.
  - From FY 2015/16, independent project spending will be reflected in IFMS based on monthly reports.
  - Centralization of project accounts in NBR improved cash disbursement coverage.
- Remaining challenges:
  - Quality and timeliness of direct payment information by donors varies, more so for Grants than Loans.
  - Proper valuation of Grants in kind under GFSM 2014 remains a challenge for correct assessment of NANFA.
- Recommendations (Reconciliation):
  - Continue extending independent projects covered by IFMS.
  - Establish a Single Project Implementation Unit at the Ministry of Infrastructure.
  - Continue exploring ways to incentivize donors to provide timely information on direct payments to suppliers.

### Planning a DMX-based data dissemination system — design, roadmap, and recommendations
- Proposed design steps:
  - STA and AFR to develop a Microsoft EXCEL file including GFSM 2014 flow and stock data meeting STA, AFR, and EAC Secretariat requirements, plus AFR-specific series.
  - Associate series with GFSM 2014, AFR, and DMX codes; authorities to populate file and use it to populate an ODP database.
  - ODP database to be made available to STA, AFR, and EAC Secretariat.
- Recommended sequencing:
  - STA develops initial GFSM 2014 file; AFR later augments with idiosyncratic series.
  - IMF coding experts to insert DMX codes.
  - Authorities to populate file; may require ODP refresher training.
- Roadmap milestone dates (selected):
  - By February 15, 2016: STA and AFR agree to augment dissemination system with integrated DMX coding.
  - By March 8, 2016: STA produces Microsoft EXCEL file reflecting GFSM 2014.
  - By April 8, 2016: AFR augments file with idiosyncratic series.
  - By April 23, 2016: IMF DMX coding experts insert DMX codes.
  - By May 31, 2016: Completed file transmitted to Rwandan authorities.
  - By June 30, 2016: Rwandan authorities receive refresher ODP training.
  - By July 31, 2016: Authorities populate EXCEL file and ODP database; database transmitted to STA, AFR, and EAC Secretariat.
- Recommendation (DMX dissemination):
  - Authorities should participate actively during consultations associated with the new integrated DMX data dissemination system.

### Meeting AFR’s fiscal statistical requirements — priorities and timeline
- Improvements expected:
  - GFSM 2014 methodology will enhance data reporting to AFR via increased frequency, timeliness, and coverage.
- Priorities:
  - First focus: establish a robust monthly reporting system for complete GFS of the BCG.
  - Institutional delineation applied in FY 2013/14 provides sufficient granularity to augment BCG data with information needed for fiscal program target reporting.
- Extension and timing:
  - Ideal target: extension in place for the next Article IV consultation with Rwanda, expected in October 2016 (acknowledged as very ambitious).
- Note on reporting frequency:
  - Initially, reporting frequency could be bi-annual or quarterly to allow stabilization of monthly data through revisions before submission.
  - Best-effort timely submissions are provisional and can be amended with new information.

### Resources, training, and planned follow-up TA (selected)
- Planned mission (July 2016) objectives:
  - Review FY 2014/15 GFS dataset.
  - Provide hands-on GFS compilation training to MINECOFIN staff and selected source data providers.
  - Assess efforts to finalize and implement the GFS data quality improvement work program drafted in November 2015.
- Continued TA focus:
  - Compilation of high frequency fiscal and debt statistics.
- GFS Technical Assistance Activities During 2016 (Table 2):
  - Technical mission: Start date 18-January-16, End date 29-January-16, Location Kigali
  - Regional workshop: Start date 11-April-16, End date 22-April-16, Location Addis Ababa
  - Regional workshop: Start date July-16, End date July-16, Location Zanzibar
  - Technical visit: Start date July-16, End date July-16, Location Kigali
  - Regional workshop: Start date August-16, End date August-16, Location TBD
  - Regional workshop: Start date November-16, End date November-16, Location TBD

### Consolidation of recommendations (Box 1, reproduced verbatim)
- As a short-term priority, MINECOFIN should take a decision concerning which of its departments or offices should be permanently tasked with compiling and disseminating GFS.
- Authorities should accelerate efforts to complete the TWG’s roadmap.
- Authorities should continue efforts to incorporate RRA data into IFMS.
- Authorities should prepare a Statement of Sources and Uses of Cash for FY 2013/14.
- Authorities should continue efforts to incorporate into IFMS EBUs and SSFs that operate outside of IFMS currently.
- Authorities should continue extending the range of independent projects that are covered by IFMS.
- Authorities should establish a Single Project Implementation Unit at the Ministry of Infrastructure.
- Authorities should continue exploring new and innovative ways for incentivizing donors to provide timely information on direct payments to suppliers.
- Authorities should participate actively during consultations that are associated with the development of the new integrated DMX data dissemination system.
- Expand fiscal reporting to include stocks of financial assets and liabilities.
- Finalize and begin implementing the GFS data quality improvement work program that was drafted in November 2015.

*Source: cr1888 - Mission team, FY 2013/14 Consolidated General Government Finance Statistics Dataset and documentation.*

### 1. FY 2013/14 GFS Source Data by General Government Subsector and Major Economic

### 1. FY 2013/14 GFS Source Data by General Government Subsector and Major Economic Classification

### Executive Summary
- Mission composition: Brooks Robinson (IMF East African Regional Technical Assistance Center (AFE) GFS Advisor), Ismael Ahamdanech Zarco (GFS expert), and Clément Ncuti (GFS expert); joint with IMF African Department (AFR) represented by Senior Economist Tobias Roy. Mission dates: January 18–29, 2016.
- Main objectives:
  - Assess progress on GFSM 2014 implementation.
  - Assist alignment of compilation and dissemination of GFS with GFSM 2014.
  - Assist compilation of general government finance statistics for FYs 2013/14 and FY 2014/15 and develop metadata.
  - Reconcile externally-financed investment spending in IFMS with underlying project loans and grants.
  - Assist in developing plans to establish an integrated DMX system for disseminating fiscal and debt statistics.
  - Assist planning to compile high-frequency data required by IMF STA and AFR during transition from GFSM 1986 to GFSM 2014.
- Key conclusions:
  - MINECOFIN should officially assign GFS compilation duties to a specific subset of staff; the existing GFS Technical Working Group (TWG) operates on an ad hoc basis and membership changes.
  - The Macroeconomic Policy Unit (MPU) appears well placed to perform permanent GFS compilation and dissemination duties but should be allocated appropriate resources.
  - Authorities are nearly complete in automating IFMS to produce annual and high-frequency GFSM 2014-compliant data for budgetary central government (BCG), most extrabudgetary units (EBUs), and all local governments (LGs) on a timely basis.
  - Remaining tasks: add remaining EBUs, social security funds (SSFs), and development projects to IFMS; finalize bridging from GFSM 1986 to GFSM 2014.
  - AFR continues to gather GFSM 1986-based GFS for monitoring; reverse-mapping to GFSM 1986 is increasingly problematic and AFR may consider transitioning monitoring to GFSM 2014-based statistics.
- Main recommendations:
  - Decide on a permanent assignment of GFS compilation and dissemination duties so that the work program can proceed effectively.
  - Complete automation of the GFS compilation process through IFMS by integrating source data from the Rwanda Revenue Authority (RRA), and by incorporating EBUs, SSFs, and development projects that are still outside of IFMS.
  - Work with the Statistics Department (STA) and AFR to implement an integrated DMX fiscal data dissemination system that will efficiently address future reporting requirements to multiple users.
  - Agree on a near-term transition plan for discontinuing reporting to AFR on a GFSM 1986 basis so that authorities can cease reverse data mapping.
  - Expand fiscal reporting to include stocks of financial assets and liabilities.
  - Finalize and begin implementing the GFS data quality improvement work program that was drafted in November 2015.

### Introduction
- Mission was requested by Rwandan authorities and coordinated with AFR as part of an AFE - East African Community (EAC) Secretariat collaborative program to assist EAC Partner States with fiscal data requirements associated with the East African Monetary Union (EAMU) Protocol.
- Specific tasks included encouraging a permanent assignment of GFS duties within MINECOFIN; assessing GFSM 2014 implementation progress; compiling FY 2013/14 and FY 2014/15 datasets; reconciling external financing for projects with IFMS spending; planning for a DMX and OpenData Platform (ODP) dissemination system; and facilitating near-term transition to GFSM 2014-based reporting for PSI monitoring.

### Legal Framework for Assignment of GFS Compilation Duties
- Relevant national legislation: Organic Law on State Finances and Property (Law No. 12/2013, issued on September 12, 2013) and Ministerial Order on Financial Regulations (N°001/16/10/TC of 26/01/2016). Both assign responsibilities for fiscal reporting, timelines, and frequency to the Minister of Finance and to MINECOFIN.
- Regional requirement: East Africa Monetary Union (EAMU) Protocol of November 2013, ratified by Law No. 24/2014 (issued on August 5, 2014), requires harmonization and coordination of fiscal policies and statistical frameworks for the EAMU.
- Outstanding issue: which department or office within MINECOFIN should be permanently assigned to compile and disseminate GFS.
- Mission view: MPU is a well-qualified candidate; advantages include MPU’s connections to data-producing agencies and leverage of GFS for policy planning. If MPU is selected, it should receive appropriate resources.
- Recommendation:
  - As a short-term priority, MINECOFIN should take a decision concerning which of its departments or offices should be permanently tasked with compiling and disseminating GFS.

### GFSM 2014 Implementation Plan
- Rwanda established a GFS Technical Working Group (TWG) and adopted a fiscal and debt statistics development (GFSM 2014 implementation) plan in 2014.
- Progress: TWG has implemented many plan components; financial asset and liability items in the chart of accounts (CoA) aligned with GFSM 2014 within the CoA approved for the 2015/16 budget.
- Pending tasks: translate historical series into the new framework; compile GFSM 2014-compliant public sector debt statistics; complete COFOG-based fiscal data compilation.
- Appendix II contains the implementation plan status as of January 2016.
- Recommendation:
  - Authorities should accelerate efforts to complete the TWG’s roadmap.

### Compilation of FY 2013/14 General Government Finance Statistics
- Authorities prioritized compiling a high-quality FY 2013/14 dataset first and documenting the process; FY 2014/15 compilation would follow using lessons learned. FY 2014/15 source data were still being audited at the time and the authorities preferred to wait for audited data to avoid later revisions.
- The mission guided compilation in a GFSM 2014 Statement of Operations framework.
- Important recording-basis note: Revenue source data were provided on a cash (when received) basis by RRA, whereas Expense, Net acquisition of nonfinancial and financial assets, and Net incurrence of liabilities were tabulated from IFMS on a “payment order” basis (an accrual-like concept). This inconsistency prevented compiling a Statement of Sources and Uses of Cash for FY 2013/14. IFMS can tabulate data on a payment (cash) basis given sufficient time.
- Recommendation implicit in compilation work: continue work to harmonize recording bases and ensure IFMS coverage to allow consistent Statements of Operations and cash statements.

### FY 2013/14 Source Data by Subsector and Major Economic Classification (summary of Table 1)
- Table 1 shows the sources used for compilation by general government subsector and by major economic classification.
- Budgetary Central Government (BCG):
  - Revenue: RRA, most nontax Revenue from NBR.
  - Expense: DMFAS and IFMS.
  - Net acquisition of nonfinancial assets (NANFA): IFMS, RB.
  - Net acquisition of financial assets (NAFA): IFMS, NBR (Depository Corporations Survey (DCS)), GPMU, TD.
  - Net incurrence of liabilities (NIL): DMFAS.
- Central Government Extrabudgetary Units (EBUs):
  - All economic classifications: combination of AAFR, AGD, and IFMS.
- Social Security Funds (SSFs) (the two existing SSFs):
  - All economic classifications: AAFR.
- Local Governments (LG):
  - All economic classifications: IFMS.
- Full forms for acronyms in Table 1 are provided in the source material (examples include AAFR-Audited Annual Financial Reports; AGD-Accountant General Department; DMFAS-Debt Management and Financial Analysis System; IFMS-Integrated Financial Management Information System; NBR-National Bank of Rwanda; GPMU-Government Portfolio Management Unit; RB-Rwanda’s Budget; RRA-Rwanda Revenue Authority; TD-Treasury Department).
- Appendix III reflects the institutional unit coverage by general government subsector.

*Source: Mission team.*

### 13.      It was necessary to adjust the source data to ensure conformance with the GFSM 2014

### 13.      It was necessary to adjust the source data to ensure conformance with the GFSM 2014 standard

### A. Budgetary Central Government (BCG)
- Revenue
  - Monthly tax Revenue data were compiled by RRA; Revenue data had not been captured in IFMS.
  - A bridge table was developed to translate RRA monthly tax Revenue data into a GFSM 2014 framework.
  - Current Grants data were obtained from NBR reports; capital Grants data were based on Rwanda’s budget.
  - All revenue data are on a cash basis.
- Expense and recording practices
  - All BCG Expense data were captured in IFMS and are available on a real-time basis.
  - MINECOFIN records all BCG Expense data in IFMS and can generate aggregated data on a monthly basis.
  - Two datasets were generated from IFMS, based on time of recording:
    - Data on an accrual-like basis (ordonnancement or payment order basis) were used for GFS reporting.
    - Cash basis data (payment) were used to compute “float” (Other accounts payable): the difference between total Expense on an ordonnancement basis and total Expense on a payment basis.
  - Interest Expense recorded in IFMS; Interest data from DMFAS were used as the source to compile GFS to ensure data accuracy.
- Grants to other government levels
  - Customized IFMS report aggregated spending by EBUs and by LGs to compile Expense data on Grants from the BCG to other levels of government.
  - Sum of spending by EBUs in IFMS’s “national mode” = Grants from the BCG to EBUs.
  - Sum of spending by LGs in IFMS’s “national mode” = Grants from BCG to LGs.
- NANFA and NAFA
  - Domestically-financed NANFA data were extracted from IFMS.
  - For FY2013/14, IFMS did not include NANFA financed by external Grants or Loans; externally-financed NANFA compiled by summing disbursements of capital Grants (from RB) and capital Loans (from DMFAS).
  - Data on disposals of nonfinancial assets were obtained from MINECOFIN’s Treasury Department (TD) and GPMU.
  - Acquisition of financial assets (Debt securities, Loans, Equity and investment fund shares) for BCG obtained from IFMS.
  - Acquisition of Currency and deposits obtained from NBR’s DCS.
  - Disposals of financial assets obtained from MINECOFIN’s GPMU.
- NIL (Net Incurrence of Liabilities)
  - Incurrence of liabilities data obtained from DMFAS.
  - Repayment of liabilities recorded in IFMS, but DMFAS data were used for GFS reporting to ensure accuracy and timeliness.

### B. Extrabudgetary Units (EBUs)
- Source data origins
  - Source data for EBUs for all major economic classifications were obtained from AAFR, AGD, or IFMS.
  - One EBU (Rwanda Utility and Regulatory Authority (RURA)) operated outside IFMS and did not report to the AGD; its GFS were compiled from the institutional unit’s AAFR.
  - AGD compiled GFS for EBUs that operated outside IFMS but reported to AGD.
- IFMS reporting and nomenclature adjustments
  - For EBUs reporting within IFMS, authorities produced an EXCEL file from IFMS with tabulations by detailed economic classifications.
  - Some IFMS nomenclature was inconsistent with GFSM 2014 (e.g., Grants classified as Other current transfers and vice-versa); mission recommended correcting nomenclature.
  - Specific misclassifications corrected with mission guidance:
    - Disposal of nonfinancial assets was classified as Other revenue.
    - NAFA data were classified under NANFA.
    - Certain Loans were classified as Other accounts payable.
  - Data presentation:
    - Revenue, Expense, and NANFA presented on a flow basis.
    - NAFA and NIL presented on a stock basis; flow data derived as difference between opening and closing stock values.
  - Adjustments brought source data into conformity with GFSM 2014.
- Aggregation
  - GFS compiled from AAFR, AGD, and IFMS were aggregated to produce total GFS for EBUs.

### C. Social Security Funds (SSFs)
- Data sources and quality
  - AAFR were used to compile GFS for the two existing SSFs: RSSB (Rwanda Social Security Board) and MMI (Military Medical Insurance).
  - Financial statements were generally comprehensive and reflected high-quality data, evidenced by a relatively small Statistical discrepancy between Net lending/borrowing and Net financing.
  - AAFR availability has a significant time lag, limiting timeliness of GFS compilation.
- Specific data issue
  - A grant from BCG to MMI was not recorded as revenue in MMI’s financial report; the mission team corrected this oversight.
  - Authorities should ensure MMI reports such grants in future financial reports.

### D. Local Governments (LG)
- Source data
  - Source data for all economic classifications for LG were derived from IFMS and were comparable in form to EBUs’ IFMS source data.
- Methodology
  - Methodological procedures used to compile GFS for EBUs from IFMS source data were applied to compile LG GFS from IFMS.

### Consolidated dataset results (FY 2013/14)
- From the consolidated GFS dataset (Appendix IV):
  - Total revenue (line 1) is 1,577.7 billion FRw.
  - Total expense (line 2) is 950.0  billion FRw.
  - Net operating surplus (line 3) is 627.8 billion FRw.
  - NANFA (line 4) is 706.4 billion FRw.
  - Net borrowing (line 5) is 78.6 billion FRw.
- From the right-most column of the second page of the table:
  - Net financing (line 3) is 120.2 billion FRw, resulting from 14.1 billion FRw in NAFA (line 4) less 134.3 billion FRw in NIL (line 5).
  - Statistical discrepancy (line 2) is 41.6 billion FRw.
  - Statistical discrepancy equals 2.6 percent of Total revenue and 4.4 percent of Total expense.
- Quality assessment
  - The size of the Statistical discrepancy indicates the dataset balances well and is of very good quality.
  - Mission concludes similar methodologies applied for FY 2014/15 (with required modifications) would produce a very good quality GFS dataset for dissemination.

### Recommendations (general from sections A–D)
- Authorities should continue efforts to incorporate RRA data into IFMS.
- Authorities should prepare a Statement of Sources and Uses of Cash for FY 2013/14.
- Authorities should continue efforts to incorporate into IFMS EBUs and SSFs that operate outside of IFMS currently.

### VI. Reconciliation of external resources and project expenditure — key findings
- Common difficulties
  - Creating timely and consistent records for development projects’ expenditure and related external resource flows is difficult; gaps and delays can create substantial discrepancies in fiscal accounts.
- Sources of discrepancies
  - Donor-provided information during budget planning may not distinguish properly between Grants and Loans.
  - Time lags in audited project spending reports make it difficult to capture actual spending accurately and assign it to the correct period; independent projects not integrated into ministries’ reporting have been recorded “as budgeted,” deviating from actual spending.
  - Donor “direct payments” to foreign suppliers leave no record in the domestic payment system; fiscal data compilers depend on timely and accurate donor information.
  - Grants channeled through cash remittances outside the banking system.
  - Grants in kind are hard to capture and reconcile due to valuation problems—particularly technical assistance services provided directly by donor agencies.
- Improvements and practices
  - Authorities reconciled datasets from three sources to enhance project spending plans: Public Investment Plan planning departments; consolidated donor disbursement plans; and spending projections by line ministries.
  - Creation of Single Project Implementation Units (SPIUs) embedded in line ministries improved monitoring.
  - Starting with FY 2015/16 budget, independent project spending will be reflected in IFMS based on monthly reports.
  - Centralization of project accounts in NBR improved data coverage for cash disbursements; donors shifted project accounts to the Central Bank.
  - Remaining direct payment recording issues narrowed to disbursements initiated by donors; disbursements requested by project coordinators are registered in IFMS if passed correctly to SPIUs.
  - AGD receives actual spending data for self-accounting projects, including direct payments relating to technical assistance; intra-year and annual financial statements for self-accounting projects can account for external financing.
- Remaining challenges
  - Quality and timeliness of information about direct payments initiated by donors still varies, more so with Grants than Loans.
  - Proper valuation of Grants in kind under GFSM 2014 remains a challenge for correct assessment of NANFA—particularly technical assistance services.

### Recommendations (Reconciliation)
- Authorities should continue extending the range of independent projects that are covered by IFMS.
- Authorities should establish a Single Project Implementation Unit at the Ministry of Infrastructure.
- Authorities should continue exploring new and innovative ways for incentivizing donors to provide timely information on direct payments to suppliers.

### VII. Planning a DMX-based data dissemination system — design and roadmap
- Proposed design steps
  - STA and AFR to develop a Microsoft EXCEL file including GFSM 2014 flow and stock data meeting STA, AFR, and EAC Secretariat requirements, plus AFR-specific idiosyncratic fiscal data.
  - Data series in the file would be associated with GFSM 2014, AFR, and DMX codes.
  - Rwandan authorities would populate the EXCEL file using compiled data.
  - Authorities would use the EXCEL file to populate an ODP database.
  - ODP database would be made available to STA, AFR, and the EAC Secretariat for specific fiscal data needs.
- Recommended sequencing and support
  - Best feasible strategy: STA develops initial file with GFSM 2014 series meeting STA’s and EAC Secretariat’s needs; AFR later augments with idiosyncratic series.
  - IMF coding experts to incorporate DMX codes for each series.
  - Authorities expected to populate file without difficulty; may require refresher ODP training.
- Implementation roadmap
  - Mission developed a roadmap for producing the EXCEL file, conducting ODP refresher training, and initiating dissemination using the integrated system.
  - Rwandan authorities agreed to ongoing discussions about the roadmap with STA, AFR, and the EAC Secretariat.

### Recommendation (DMX dissemination)
- Authorities should participate actively during consultations associated with development of the new integrated DMX data dissemination system.

### VIII. Meeting AFR’s fiscal statistical requirements — priorities and timeline
- Improvements expected
  - GFSM 2014 methodology improvements will enhance data reporting to AFR through increased frequency, timeliness, and coverage.
  - Enhanced reporting will support AFR’s economic surveillance, policy analysis, and program monitoring.
- Priorities
  - First focus: establish a robust data reporting system for complete GFS of the BCG on a monthly basis.
  - The institutional delineation applied in FY 2013/14 provides sufficient granularity to augment BCG data on GFSM 2014 standards with additional information needed for fiscal program target reporting.
- Extension and timing
  - Extending data coverage to standardized general government data will strengthen policy assessment and cross-country analysis.
  - Ideal target: extension in place for the next Article IV consultation with Rwanda, expected in October 2016 — acknowledged as a very ambitious target.
- Note on reporting frequency
  - Initially, reporting frequency could be bi-annual or quarterly to allow stabilization of monthly data through revisions before submission.
  - Best-effort timely submissions are provisional and can (should) be amended with new information.

### IX. Resources, training, and technical assistance — planned follow-up
- Planned mission (July 2016) objectives
  - Conduct a review of the FY 2014/15 general government finance statistics dataset.
  - Provide hands-on GFS compilation training to MINECOFIN staffers and selected source data providers.
  - Assess efforts to finalize and begin implementing a GFS data quality improvement work program drafted in November 2015.
- Continued TA focus
  - Continued technical assistance will focus on compilation of high frequency fiscal and debt statistics.

*Source: cr1888 - 13.      It was necessary to adjust the source data to ensure conformance with the GFSM 2014 standard.*

### 38.      The mission team confirmed certain planned TA activities with authorities—both in

### cr1888 - 38.      The mission team confirmed certain planned TA activities with authorities—both in

### Conclusion and main findings
- This mission resulted in the successful compilation of consolidated general government finance statistics for FY 2013/14.
- The documentation produced during this exercise (see Appendix VI) should facilitate the smooth compilation of general government finance statistics for FY 2014/15 in the near term, and the mission team awaits an opportunity to review the dataset.
- Rwandan authorities will also benefit from this short time series of consolidated general government finance statistics as these statistics may help inform future policy decisions.
- The mission produced GFS for BCG on a monthly basis for FY 2013/14. Neither monthly nor quarterly GFS for central government could be produced due to the lack of high-frequency data for all EBUs.
- If MINECOFIN’s leadership assigns responsibility for the continued compilation of fiscal and debt statistics, Rwanda can build on the mission’s successes and begin to fulfill systematically its GFSM 2014 implementation plan.
- The mission team looks forward to returning to Kigali to continue this work in July 2016.

### Key accomplishments during the mission
- Development of a plan for an integrated DMX- and ODP-based data dissemination plan.
- Discussions with authorities on efforts required to meet AFR’s future data demands.
- Completion of a Microsoft PowerPoint presentation on the new FY 2013/14 consolidated general government dataset.
- Completion of a Government Finance Statistics Yearbook questionnaire using the new consolidated general government finance statistics dataset for FY 2013/14.
- Provision of recommendations on the sectorization of eight new institutional units.
- Development of a “Synopsis of GFSM 2014” to sensitize authorities to the new GFS dataset.

### GFS Technical Assistance Activities During 2016 (Table 2)
- Technical mission: Start date 18-January-16, End date 29-January-16, Location Kigali
- Regional workshop: Start date 11-April-16, End date 22-April-16, Location Addis Ababa
- Regional workshop: Start date July-16, End date July-16, Location Zanzibar
- Technical visit: Start date July-16, End date July-16, Location Kigali
- Regional workshop: Start date August-16, End date August-16, Location TBD
- Regional workshop: Start date November-16, End date November-16, Location TBD

### Box 1 — Recommendations (reproduced verbatim)
- As a short-term priority, MINECOFIN should take a decision concerning which of its departments or offices should be permanently tasked with compiling and disseminating GFS.
- Authorities should accelerate efforts to complete the TWG’s roadmap.
- Authorities should continue efforts to incorporate RRA data into IFMS.
- Authorities should prepare a Statement of Sources and Uses of Cash for FY 2013/14.
- Authorities should continue efforts to incorporate into IFMS EBUs and SSFs that operate outside of IFMS currently.
- Authorities should continue extending the range of independent projects that are covered by IFMS.
- Authorities should establish a Single Project Implementation Unit at the Ministry of Infrastructure.
- Authorities should continue exploring new and innovative ways for incentivizing donors to provide timely information on direct payments to suppliers.
- Authorities should participate actively during consultations that are associated with the development of the new integrated DMX data dissemination system.
- Expand fiscal reporting to include stocks of financial assets and liabilities.
- Finalize and begin implementing the GFS data quality improvement work program that was drafted in November 2015.

### Appendix II — Selected GFSM 2014 implementation targets and statuses (as of January 2016)
- Project objective: To compile and publish monthly, quarterly and annual general GFS according to the GFSM 2014.
  - Verifiable indicators: Dissemination of monthly, quarterly and annual GFS to the public, the EAC Secretariat, and publication in the International Financial Statistics and Government Finance Statistics Yearbook.
  - Target Date: 2017
  - Assumptions: Assumes a commitment to replace a GFSM 1986 with a GFSM 2014 reporting framework, and that an adequately resourced GFS team and the necessary technical assistance is available.
- Selected outputs, target dates, and implementation statuses:
  - Conduct regular GFS TWG meetings/workshops.
    - Verifiable indicators: Minutes and training material from committee meetings and workshops.
    - Target Date: July 2014
    - Implementation Status: The TWG was established and an implementation plan was adopted in 2014. Implementation plan tasks were assigned to TWG members who have been trained by the IMF. The GFS TWG has helped coordinate the compilation of a FY 2013/14 general government finance statistics dataset.
  - Define and maintain an institutional structure of the general government consistent with GFSM 2014 guidelines.
    - Verifiable indicators: Finalized general government sector institutional table and tentative comprehensive lists of public corporations, with specified procedures to make future changes as needed.
    - Target Date: December 2014
    - Implementation Status: The classification of institutional units into their relevant subsectors was completed.
  - Link country’s CoA classifications with corresponding GFSM 2014 economic classifications.
    - Verifiable indicators: Verified derivation tables linking national CoA classifications and corresponding GFSM 2014 classifications.
    - Target Date: June 2015
    - Implementation Status: The current CoA classifications have been mapped to the corresponding GFSM 2014 classifications. This is an ongoing requirement.
  - Reflect updated GFS economic and functional classification tables in budget tables.
    - Verifiable indicators: Presentation of GFSM 2014 and COFOG tables and related analysis in annual budget.
    - Target Date: 2015/16 budget
    - Implementation Status: Implemented. The 2015/16 budget CoA is consistent with GFSM 2014 classification. The CoA should be updated on an ongoing basis.
  - Disseminate GFSM 2014-compliant BCG data for FY2011/12 thru 2012–13.
    - Verifiable indicators: Presentation of Statement of Sources and Uses of Cash, Statement of Operations (including Revenue and Expense summaries) by GFS, and dissemination of COFOG data.
    - Target Date: June 2015
    - Implementation Status: GFSM 2014-compliant general government finance statistics were compiled for FY 2013/14, but they have not been disseminated.
  - Incorporate the CoA-GFS bridge table and automate the report compilation.
    - Verifiable indicators: Production of GFS reports directly from the source data.
    - Target Date: June 2015
    - Implementation Status: Completed for BCG and LG. However, most EBUs and SSFs are not in IFMS; their accounts must be compiled manually. There is no schedule for incorporating these institutional units into IFMS.
  - Disseminate GFSM 2014-compliant central government data for FY2014.
    - Verifiable indicators: Presentation of Statement of Sources and Uses of Cash, Statement of Operations (including Revenue and Expense summaries) by GFS, and dissemination of COFOG data.
    - Target Date: September 2016
    - Implementation Status: GFSM 2014-compliant general government finance statistics were compiled for FY 2013/14, but they have not been disseminated. A Statement of Sources and Uses of Cash and COFOG data have not been compiled.
  - Disseminate GFSM 2014-compliant LG data for FY2014.
    - Verifiable indicators: Presentation of Statement of Sources and Uses of Cash, Statement of Operations (including Revenue and Expense summaries) by GFS, and dissemination of COFOG data.
    - Target Date: February 2016
    - Implementation Status: GFSM 2014-compliant general government finance statistics were compiled for FY 2013/14, but they have not been disseminated.
  - Expand coverage of GFS (flows) to include all general government units.
    - Verifiable indicators: General government finance statistics (flows) compiled and disseminated.
    - Target Date: June 2017
    - Implementation Status: GFSM 2014-compliant general government finance statistics were compiled, but they have not been disseminated.
  - Include stocks of financial assets and liabilities in the GFS of BCG.
    - Verifiable indicators: Timely dissemination of annually BCG GFS including stocks of nonfinancial and financial assets and liabilities (Financial Balance Sheet).
    - Target Dates: For Financial Liabilities: June, 2015; For Financial Assets: June, 2016
    - Implementation Status: Incomplete. Full data capture requires maintaining an updated inventory and valuation of all financial assets and liabilities. This work is yet to be initiated.
  - Include stocks of financial assets and liabilities in the GFS of extrabudgetary, LG, and social security fund units.
    - Verifiable indicators and Target Dates: For Financial Liabilities: June, 2015; For Financial Assets: June, 2016
    - Implementation Status: Incomplete. Full data capture requires maintaining an updated inventory and valuation of all financial assets and liabilities. For EBUs and SSFs, memorandums of understanding may be required to ensure timely data submissions.
  - Compile and disseminate public debt statistics of the general government sector.
    - Verifiable indicators: Annual general government sector debt statistics compiled and disseminated.
    - Target Date: June 2015
    - Implementation Status: Incomplete. Full data capture requires maintaining an updated inventory and valuation of all financial assets and liabilities. For EBUs and SSFs, memorandums of understanding may be required to ensure timely data submissions.

### Appendix IV — FY 2013/14 Consolidated General Government Finance Statistics Dataset (selected figures, Billions of FRw)
- Total Revenue (Consolidated Total General Government): 1,577.7
- Central Government (Total Central Government): 1,386.0
- BCG (Budgetary Central Government) revenue: 1,338.8
- SSFs: 90.8
- Local Government: (43.7) consolidation adjustment within central table (presented in dataset)
- BCG — Taxes: 728.0
- BCG — Social contributions: 0.0
- Total Taxes (Consolidated Total General Government): 740.1
- BCG — Grants: 474.3
- SSFs — Grants: 54.8
- Consolidation adjustment for Grants: (43.7)
- Total Grants (Consolidated Total General Government): 517.1
- BCG — Other revenue: 136.5
- SSFs — Other revenue: 36.1
- Total Other revenue (BCG + SSFs): 172.5
- Local Government — Other revenue: 34.2
- EBUs — Other revenue: 22.2
- Consolidation adjustment for EBUs: (245.5)
- Total Other revenue (Consolidated Total General Government): 228.9

*Source: Mission team.*

### 2. Expenses

### 2. Expenses

### Expenses breakdown (Billions of FRw)
- Total expenses (aggregate rows from table context): 882.9; 72.7; (43.7); 912.0; 43.5; 239.9; (245.5); 950.0
- Compensation of employees: 153.5; 34.0; 187.5; 5.7; 136.4; 329.6
- Use of goods and services: 278.6; 36.8; 315.4; 3.6; 43.7; 362.7
- Consumption of fixed capital: 0.0; 0.3; 0.3; 1.8; 0.0; 2.1
- Interest: 43.6; 0.0; 43.6; 0.0; 0.5; 44.1
- Subsidies: 63.0; 0.0; 63.0; 0.0; 0.4; 63.4
- Grants (including intra-government adjustments): 289.1; 0.0; (43.7); 245.5; 0.0; 0.0; (245.5); 0.0
- Social benefits: 22.9; 0.2; 23.0; 29.3; 22.0; 74.3
- Other expense: 32.2; 1.4; 33.7; 3.2; 37.0; 73.8

### Consolidated government balances (Billions of FRw)
- 3. Net operating balance (1-2): 455.9; 18.1; 0.0; 474.0; 86.0; 67.8; 0.0; 627.8
- 4. Net acquisition of nonfinancial assets: 639.7; 10.7; 650.4; (16.3); 72.3; 706.4
- 5. Net lending (+) /borrowing (-) (3-4): (183.8); 7.4; 0.0; (176.4); 102.2; (4.4); 0.0; (78.6)

### Statistical discrepancy and net financing (Billions of FRw)
- 1. Net lending (+)/borrowing (-) (repeat): (183.8); 7.4; 0.0; (176.4); 102.2; (4.4); 0.0; (78.6)
- 2. STATISTICAL DISCREPANCY (1-3): 37.3; (1.7); 0.0; 35.6; 1.6; 4.4; 0.0; 41.6
- 3. Net Financing (4-5): (221.1); 9.1; 0.0; (212.1); 100.7; (8.8); 0.0; (120.2)

### Net acquisition of financial assets (4) — by instrument (Billions of FRw)
- Net acquisition of financial assets (total): (91.3); 8.7; 0.0; (82.7); 104.3; (7.6); 0.0; 14.1
- Monetary gold and SDRs: 0.0; 0.0; 0.0; 0.0; 0.0; 0.0
- Currency and deposits: (149.9); 2.2; (147.7); 89.6; (5.2); (63.3)
- Debt securities: 0.0; 0.0; 0.0; (18.7); 0.0; (18.7)
- Loans: 58.6; 0.0; 58.6; (2.8); 0.0; 55.7
- Equity and investment fund shares: 0.0; 0.0; 0.0; 29.0; 0.0; 29.0
- Insurance, pensions, and standardized guarantee schemes: 0.0; 0.0; 0.0; 0.0; 0.0; 0.0
- Financial derivatives and employee stock options: 0.0; 0.0; 0.0; 0.0; 0.0; 0.0
- Other accounts receivable: 0.0; 6.5; 6.5; 7.3; (2.4); 11.3

### Net incurrence of liabilities (5) — by instrument (Billions of FRw)
- Net incurrence of liabilities (total): 129.8; (0.4); 0.0; 129.4; 3.7; 1.2; 0.0; 134.3
- SDRs: 0.0; 0.0; 0.0; 0.0; 0.0; 0.0
- Currency and deposits: 0.0; 0.0; 0.0; 0.0; 0.0; 0.0
- Debt securities: 35.4; 0.0; 35.4; 0.0; 0.0; 35.4
- Loans: 93.4; 1.5; 94.9; 0.0; (0.5); 94.5
- Equity and investment fund shares: 0.0; 0.0; 0.0; 0.0; 0.0; 0.0
- Insurance, pensions, and standardized guarantee schemes: 0.0; 0.0; 0.0; 0.3; 0.0; 0.3
- Financial derivatives and employee stock options: 0.0; 0.0; 0.0; 0.0; 0.0; 0.0
- Other accounts payable: 1.0; (1.9); (0.9); 3.4; 1.7; 4.2

### Roadmap milestone dates (selected)
- By February 15, 2016: STA and AFR agree to augment the data dissemination system with an integrated DMX data coding structure.
- By March 8, 2016: STA produces Microsoft EXCEL file reflecting GFSM 2014-based economic classifications and codes.
- By April 8, 2016: AFR augments the file to reflect idiosyncratic data series required for PSI program monitoring.
- By April 23, 2016: IMF DMX coding experts insert DMX codes throughout the file.
- By May 15, 2016: STA, AFR, and EAC Secretariat review the file for consistency and completeness.
- By May 31, 2016: The completed file is transmitted to Rwandan authorities.
- By June 30, 2016: Rwandan authorities receive refresher ODP training.
- By July 31, 2016: Rwandan authorities populate the completed EXCEL file and use it to populate an ODP database; database transmitted to STA, AFR, and EAC Secretariat.
- By August 15, 2016: STA, AFR, and EAC Secretariat review the ODP database to confirm its functionality.

### Acronym key (as provided)
- AFR – IMF’s African Department
- EAC – East African Community Secretariat
- DMX – Statistical Data and Metadata Exchange
- GFSM – Government Finance Statistics Manual
- ODP – OpenData Platform
- STA – IMF’s Statistics Department

### Compilation methodology and data sources (key points)
- Budgetary Central Government
  - Tax revenue: rearranged Rwanda Revenue Authority (RRA) raw data into GFSM 2014 using a mapping schedule; compiled into file “2013_14_RRA_Domestic Revenue.”
  - Grants: current grants from National Bank of Rwanda (BNR) foreign exchange cash flow statement (PDT); capital grants from the budget (Finance law); compiled into “2013_14_Rwanda_BCG_GFS_Dataset_Final.”
  - Other revenue: RRA and BNR sources; RRA data mapped to GFSM 2014; BNR treasury report lines allocated to GFSM categories; receipts from Peace Keeping Operations recorded as “Sales of goods and Services” under Incidental sales by nonmarket establishment; compiled into “2013_14_Rwanda_BCG_GFS_Dataset_Final.”
  - Expenses: compensation of employees, use of goods and services, subsidies, social benefits, and other expense from IFMS; interest payments obtained from DMFAS; customized IFMS report used to identify BCG grants to LG and EBU; compiled into “2013_14_Rwanda_BCG_GFS_Dataset_Final.”
  - NANFA: domestically financed acquisitions from IFMS; disposals from MINECOFIN’s Government Portfolio Management Unit (GPMU); externally financed NANFA from capital grant disbursements (budget) plus capital loans (DMFAS); compiled into “2013_14_Rwanda_BCG_GFS_Dataset_Final.”
  - NAFA: currency and deposits changes from Depository Corporation Survey (DCS); loans acquisitions from IFMS; disposals from GPMU; compiled into “2013_14_Rwanda_BCG_GFS_Dataset_Final.”
  - NIL: domestic NIL instrument data—debt securities from DMFAS; loans computed using DCS changes and DMFAS nonbank loan issuance; other accounts payable as difference between IFMS "Ordonnancement" and "Payment" bases; external NIL data from DMFAS; compiled into “2013_14_Rwanda_BCG_GFS_Dataset_Final.”

- Local Government (LG)
  - All LG revenue, expense, and financing from IFMS aggregated in AGD report and rearranged to GFSM 2014.
  - Reclassifications: payroll/workforce taxes into taxes on income, profits, and capital gains; transfers between units appropriately recoded as grants or transfers; capital receipts as sales of non-financial assets; borrowings as incurrence of liabilities.
  - Adjustments: RRA-collected LG tax revenue of FRw 6.8 billion recorded as taxes on income, profits, and capital gains for LG; LODA grants of FRw 30.7 billion reclassified as grants from international organization to LG.
  - Compiled into “2013-14_Rwanda_LG&EBU_GFS_Dataset_Final.”

- Extra Budgetary Units (EBU)
  - Revenue, expense, and financing from IFMS and AGD reports; rearranged similar to LG except EBUs do not collect taxes.
  - Compiled into “2013-14_Rwanda_LG&EBU_GFS_Dataset_Final.”

- Social Security Funds (SSF)
  - Two units: Rwanda Social Security Board (RSSB) and Military Medical Insurance (MMI); compiled from financial statements into “2013-14_Rwanda_SSF_GFS_Dataset_Final.”
  - RSSB: pension contributions split using legal 3% employee and 5% employer shares, i.e., split of total as 0.375 (3/8) employee and 0.625 (5/8) employer for the pension scheme; medical scheme contributions split equally between employer and employee. NANFA, NAFA, and NIL computed from statements of financial position for 2012/13 and 2013/14 with adjustments for other economic flows: change in fair value of financial assets at fair value through profit or loss (33,780,659,546 RWF for the pension scheme in 2013/14; 1,265,594,703 RWF for the medical scheme) and realized gain on disposal of assets (4,194,492,697 RWF for the pension scheme and 9,409,282 RWF for the medical scheme).
  - MMI: a grant in the form of land valued at 3.7 billion FRw transferred by BCG to MMI is not recorded as MMI revenue in the financial statement (only the increase in nonfinancial assets is shown); adjustment recorded to recognize the grant as MMI grant revenue and corresponding adjustment to BCG expense and BCG NANFA (IFMS cash-only accounting required adjustment to account for disposal of land). MMI data compiled using calendar year 2014; a pseudo fiscal year (averaging 2013 and 2014 calendar years) is suggested as an alternative for higher-quality FY 2013/14 statistics.

*Source: Appendix IV–VI, FY 2013/14 Consolidated General Government Finance Statistics Dataset and documentation (Billions of FRw).*

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_Source: https://www.imf.org/-/media/files/publications/cr/2018/cr1888.pdf_