The Roads and Transport Authority (RTA) in Dubai announced the completion of the final phase of the automated cost accounting system. The system captures, compiles and generates financial & statistical statements of RTA’s operational activities. It is a sophisticated financial system that contributes to the monitoring of costs of those activities with a view to enhancing their efficiency. The introduction of the system is part of the efforts aimed at realising RTA’s 6th Strategic Goal (Financial Sustainability).
“The automated cost accounting system is the first of its kind across the Dubai Government departments. It is an advanced scientific tool for registering and analysing RTA’s key services. It displays systematic statements through periodic reports describing the performance and results of operational activities along with their costs and revenues in a detailed manner,” said Ahmed Ali Al Kaabi, Executive Director of Finance, Corporate Administrative Support Services Sector, RTA.
“Details provided cover costs of stations, transit means, routes, riders, kilometres and trips. It also calculates the cost of public parking, multi-level parking, parking occupancy rate, Salik toll gates, licensing of vehicles and drivers as well as the maintenance of roads, bridges and tunnels. The system enables the RTA to deliver quality services at the least costs as part of the modern management of activities to ensure realising the targeted revenues,” he added.
“The underlying objectives of this system are summarised in stepping up the efficiency of cost accounting of 10 key RTA activities using standardised methodologies and adopting a standard cost approach through an automated linking of 14 operating systems at the RTA. This unified system compiles, analyses and tracks information accurately and automatically; which saves much of the time & effort otherwise needed to do the job.
“The system speeds up the provision of financial statements of planning and monitoring of numerous financial activities, facilitates taking up decisions related to the costing of RTA services, and step up the preparation of planning & monitoring budgets. It has an immense contribution to the operational efficiency and maximised profits. It automatically detects high-cost areas and deviations in a timely manner; which enables the adoption of optimal cost minimisation and the achievement of the set objectives,” explained Al Kaabi.
“Being one of the key government entities in Dubai, the RTA has very extensive operational processes due to the plentiful services it delivers to the public. Such a requirement warrants the development of a sophisticated financial system for monitoring, and even reducing, the operational costs to achieve financial sustainability,” concluded the Executive Director of Finance.
