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Achievements and Challenges in the Management of the Public Finances in Kosovo (Miami, 21-25 May, 2007). Behxhet Brajshori Deputy Minister of the Ministry of Economy and Finance. Agenda. Kosovo in context Development of financial institutions Economic Indicators Budget Process
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Achievements and Challenges in the Management of the Public Finances in Kosovo
(Miami, 21-25 May, 2007)
Deputy Minister of the Ministry of Economy and Finance
- Two for the local government and
- Two for the National Parliament
Main Treasury responsibilities are envisaged within the Law on LPFMA. The responsibilities include:
Aggregate Expenditure Outturn compared to approved budget
Composition of expend. outturn compared to approved budget
Aggregate revenue outturn compared to approved budget
Stock and monitoring of expenditure payment arrears
D+Public Expenditure and Financial Accountability (PEFA) Indicators
Classification of the budget
Comprehensiveness of information in budget documentation
Extent of unreported government operations incl. donor funds
Transparency of Intergovernmental Fiscal Relations
Oversight of aggregate fiscal risk
Public access to key fiscal information
Orderliness and participation in the annual budget process
Multi-year perspective in fiscal policy, planning, & budgeting
Transparency of taxpayer obligations and liabilities
Effectiveness of taxpayer registration and tax assessment
Effectiveness in collection of tax payments
Effectiveness of cash flow planning, mgt. & monitoring.
Recording & management of cash balances, debt and guarantees
Effectiveness of payroll controls
Competition, value for money and controls in procurement
Effectiveness of internal controls.
Effectiveness of internal audit
Timeliness and regularity of accounts reconciliation
Availability of resource info received by service delivery units
Timeliness, quality and dissemination of in-year exec. reports.
Timeliness of audited financial statements submitted to the legislature.
External Scrutiny and Audit
The scope, nature and follow up of external audit reports.
Legislative scrutiny of the annual budget law
Legislative scrutiny of external audit reports.
Several fundamental challenges faced by Kosovo: