New Ireland moves to a modern payment system

The New Ireland Provincial Government has changed the way it processes payments, moving from the Kundu Pei system to the Integrated Financial Management System (IFMS).

Governor Walter David Schnaubelt said the move will fix problems in financial reporting and accountability, as payments made under Kundu Pei were not automatically recorded in IFMS.

“Today, I am proud to inform you that we have taken a decisive action to correct this,” he said.

He said the upgraded system is now being used for two major provincial accounts, while the Provincial Government Grant Account has moved to Electronic Funds Transfer [EFT] payments.

Governor Schnaubelt said the change allows payments to be recorded in real time, improves bank reconciliation, and gives leaders better access to accurate financial information.

He said the reform will strengthen transparency and accountability, reduce the use of cheques, and align New Ireland with the national financial management standards.

“This is a bold and forward-looking step and it demonstrates our commitment to good governance, financial discipline and innovation in public administration,” he said.

The Governor thanked the teams involved and assured the people of New Ireland that the government remains committed to protecting public funds and improving service delivery.