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Electronic Treasury and Treasury Single Account. Moldova’s Model

Electronic Treasury and Treasury Single Account. Moldova’s Model . Alexandr Prohnitchi Deputy Director of the Treasury of the Republic of Moldova. Legal framework. President ordinance on the State Treasury Law on Budgetary System and Budgetary Process Law on Local Public Finance

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Electronic Treasury and Treasury Single Account. Moldova’s Model

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  1. Electronic Treasury and Treasury Single Account. Moldova’s Model Alexandr Prohnitchi Deputy Director of the Treasury of the Republic of Moldova

  2. Legal framework • President ordinance on the State Treasury • Law on Budgetary System and Budgetary Process • Law on Local Public Finance • Regulatory acts of the National Bank of Moldova (NBM)

  3. Stages of treasury system development in the Republic of Moldova • I stage, 1993-1997: – management of state budget revenues – establishment of the Central Department of the Treasury – establishment of the Territorial Department of the Treasury of Chisinau – the state budget • II stage, 1998-1999: – management of revenues and expenses of the State Budget and off-budget funds of public institutions funded from the state budget; – establishment of 10 territorial treasuries • III stage, 2000-2001: – extension of the treasury system to the local budgets level extension of the treasury system by means of establishing 27 territorial treasuries • IV stage, 2004: – management of mandatory health insurance fund revenues through the treasury system • V stage. 2006: – management of the state social insurance budget revenues through the treasury system.

  4. Stages of treasury system development in the Republic of Moldova(2) • VI stage, April 2006: – Reform of the banking system of the Republic of Moldova – Introduction of the digital signature - first experience (as an NBM customer) • VII stage, 2007: – The State Treasury is a participant of the payment system • VIII stage, 2008: – Consolidation of cash balances in the TSA – Introduction of the information system for remote services for treasuries “Client – Treasury”.

  5. Reform of the banking system in the Republic of Moldova • Automated system of inter-bank payments (ASIP) • The system of Real Time Gross Settlements and clearing system • Introduction of the SWIFT-format

  6. Introduction of the digital signature – first experience • Interaction with the National Bank of Moldova (NBM) before the reform of the banking system • Electronic document • Client – Bank with the NBM • Introduction of the digital signature

  7. Introduction of the digital signature (2)

  8. Extras din cont ( DBF ) CLIENT BNM Ordinile de plat? Sistem Informati c a MF ( DBF ) DBF - XML documenete de ?ntrare Documente de ie?ire converter Autorizare Autorizare Autorizare nivelul III nivelul II nivelul I Semnare Componenta de pachetului transport Ministerul Finan?elor Pachete de transport Banca Na?ional? a Moldovei Componeta de transport Componenta Eviden?a SAPI Mesagele SWIFT De comunicare cu Contabil? SAPI ( Cartea Mare ) Introduction of the digital signature - first experience (3) • The functions of the accounting system of the Ministry of Finance and that of the National Bank of Moldova

  9. State Treasury - participant in the payment system • Integration of the State Treasury into the payment system – changes in the legislative and regulatory base; • Creation of an interface with the payment system and processor of SWIFT messages; • Creation of the TSA and registration within the payment system (TREZMD2X); • Creation of the Settlements center.

  10. Introduction of the digital signature (2)

  11. State Treasury – participant in the payment system (3) • Functioning of the payment system

  12. Consolidation of cash balances in the TSA - the «Client - Treasury» system. • The need to consolidate funds of the National Public Budget; • Introduction of digital signatures in territorial offices of the Treasury; • Introduction of the information system for remote services for treasuries «Client - Treasury».

  13. Consolidation of cash balances in the TSA - the «Client - Treasury» system (2).

  14. Paper or electronic document? • When? • Legislation • Information support (including network coverage, crypto-provider) • Security • Human resources What for? • Expediency in documents execution • Financial discipline • Transparency

  15. Outcomes • Consolidation of funds of the national public budget in the TSA; • Upgrading of business processes in the State Treasury; • Enhancing the process of public funds management • New possibilities in the course of budget execution.

  16. Future perspectives • Creation of a methodological basis for the development of a treasury system in the framework of using information technology • Introduction of the system of electronic processing of financial information; • Introduction of the system of electronic input of payment documents; • Development of cash planning with the help of information technologies • Introduction of remote services system for treasury clients using digital signatures.

  17. Questions and answers Thank you for attention Alexandr Prohnitchi Deputy Director of the Treasury of the Republic of Moldova

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