RTA accomplishes final phase of automated cost accounting system of its operational activities

DUBAI, The Roads and Transport Authority, RTA, in Dubai has announced the completion of the final phase of the automated cost accounting system, which captures, compiles and generates financial and statistical statements of its operational activities.

It is a sophisticated financial system that contributes to the monitoring of costs of activities with a view to enhancing their efficiency. The introduction of the system is part of the efforts aimed at realising the 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 the 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 the 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.

“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 and 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 the RTA services, and steps up the preparation of planning and 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,” Al Kaabi explained.

Source: Emirates News Agency