Republic of moldova state treasury cash management
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Republic of Moldova State Treasury Cash Management. Summary. Legislative and Regulatory norms ; Treasury Single Account (TSA); The tools and the processes of management of the liquidity ; Issues and difficulties. Why this t opic is so important for R epublic of M oldova ?.

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Republic of Moldova State Treasury Cash Management

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Republic of moldova state treasury cash management

Republic of Moldova State Treasury CashManagement


Summary

Summary

Legislative and Regulatory norms;

Treasury Single Account (TSA);

The toolsand the processes of management of the liquidity;

Issues and difficulties.


Why this t opic is so important for r epublic of m oldova

Why this topic is so important for Republic ofMoldova?

Because of CASH SHORTAGESwe face.


Legislative and regulatory norms

Legislative and Regulatory norms

Budgetary System and Budgetary Process Law (no. 847-XIII of May 24,1996);

Annual Budget Law;

Methodological norms regardingthe execution of theNational Public Budget (order of Ministerof Finances no. 109 of August 26, 2011);

Agreement concerning bank services provbided to the Ministry of Finances of Republic of Moldova by the National Bank (december 5, 2007);

Public finance and fiscal responsability Law (draft).


Republic of moldova state treasury cash management

Treasury Single Account (TSA)

TSA creation – correspondent accountin AIPS

5


Republic of moldova state treasury cash management

Treasury Single Account (TSA)

NPB balance structure in TSA

6


Republic of moldova state treasury cash management

Treasury Single Account (TSA)

Analytical structure of the TSA


The tools of cash management

The tools of cash management

Priorities for financing;

Receiving/Granting loans from/to budgets, managed in TSA, to cover the temporary cash gap;

To increase liquidities are attracted to the service thru Treasury and other entities;

Placements in deposit of the free temporary balance.


Priorities for financing

Priorities for financing

  • I –state debt servicing;

  • II – payments for wages, scholarships, pensions, allowances, compensations, allocations and social aids;

  • III –payments for Road Fund, National Environment Fund, Local Environment Funds and National Fund for Regional Development.


The process of cash management

The process ofcash management

The needs;

Forecasts (annual, monthly, daily).


Cash needs first stage

Cash needs – first stage

Approval of expenditures;

Monthly distribution of expenditures;

Creation of payment documents;

Submission of payment documents to treasuries;


Cash needs second stage

Cash needs – second stage

Receiving of payment documents;

Developed of cash needs documents grouped by economical classification;

To submit the cash needs documents to the finance divisions;

Financing the expenditures according to the cash needs documents .


Cash management forecasts

Cash management Forecasts

Forecasts:

Annual (State Budget)

Monthly, dividedin weeks (SB,NPB)

Daily (because of cash shortages)

Structure:

Revenues

Expenditure

Deficit/excess

Sourcesof deficit financing


Republic of moldova state treasury cash management

The principles of cash management forecast

Revenues administrators-information about income expectation

Budget Limits

Statistics

Revenues and expenditure forecast

Government Debt

Bank statements

Cash Flow Forecast


Issues and difficulties

Issues and difficulties

Cash shortages;

Government debts are managed outside the Treasury;

Foreign-financedprojects, public institutionsand agenciesare managed outside the Treasury;

The Law does not allow to get credits from financial instituitions;

The LB, SSSB, HIF accounts are in the TSA, but we can use the sources only through the borrow contracts;

The lack of trainings;

Qualified staff.


Thank you

Thank you

Apostol Nataliae-mail:[email protected]

tel/fax:0-22-26-2576;


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