MSL is working for upgrading financial management/ model and for implementing financial/ investment plan in the corporate business planning. MSL is assisting DWASA in updating five-year corporate business plan, including investment plan, financial plan, tariff adjustment plan and human resource development plan. MSL is also working closely to update the financial model which will be used for financial projection, and make it simple and user friendly so that DWASA staff can utilize it easily. MSL is assisting DWASA in formulating concrete action plans to materialize the improvement of financial management in updated five-year corporate business plan and develop a system to monitor progress of various plans, and recommend incentive scheme to encourage staff to follow the plans and provide hands-on trainings to relevant DWASA. MSL’s main duties and responsibilities are:
- Make an in-depth study of the accounting practice of DWASA;
- Access all previous studies/recommendations and the financial model and five-year corporate business plan developed under DWSSDP, in order to ascertain the strengths, weaknesses and opportunities for the overall improvement and updating and of DWASA’s accounts practice as an integral part of the entity’s overall financial management;
- Work along with the Tariff Expert in evolving a sustainable tariff structure;
- Refine current system/evolve a better system for the preparation of DWASA’s annual budget;
- Identify shortfalls/ flaws in revenue generation, billing and collection;
- Formulate an efficient financial monitoring system for DWASA;
- Review budgetary control process, design budget procedures and budget formats, in DWASA so at prepare the sub plans under updated business plan;
- Review the financial Management system and Asset Management System of client and make recommendations for optimal integration in updated business plan. In particular, assist the accounts section closely with IT expert in identifying the specific bottlenecks and providing recommendations for improving the operation of computerized accounting software and integration of billing software with the accounting software; and improving the electronic link of financial information of individual projects with financial reporting system.
- Identify the weaknesses in the current and evolve a better debt management system for DWASA;
- Contribute to training of DWASA staff in financial management with Financial Training Expert;
- Contribute to computerization of financial practices, importantly in the documentation of DWASA’s financial and commercial activities.
Timeframe: October 2019 - March 2023
Realated Countries: Bangladesh
Client(s): ADB, Dhaka Water Supply and Sewerage Authority (DWASA)
Categories: Water Supply and Sanitation, Capacity Building and Management Reform and Human Resources Management