Good public financial management (PFM) is about ensuring that all of a government’s cash is available for management by the treasury. This requires creating a treasury single account (TSA), which contributes to the efficient use and control of these financial resources. Establishing a TSA is essential in modern treasury management. It enables the centralization of public funds and their consolidated management. It also acts as a catalyst and facilitator for cash management reform by transforming treasuries and allowing them to go beyond their traditional payer role to perform the functions of a modern financial manager by adopting efficient planning, forecasting, financing, and financial investment mechanisms, as well as actively managing cash.

The Key to Efficiency and Transparency