Treasury Administration

Marko Gvero, Acting Director

Law on Budget System (“Official Gazette of RS”, No. 54/09, 73/10, 101/10, 101/11, 93/12, 62/13, 63/13 – amended, 108/13, 142/14, 68/15 – other law, 103/15, 99/16, 113/17, 95/18, 31/19 and 72/19) prescribe the following tasks performed by the Treasury Administration:

1) Financial planning, which includes:

– projections of inflows and outflows of the budget of the Republic of Serbia during the budget year on a quarterly, monthly and daily level;

– defining payment limits;

– projecting of the required amount of funds on a quarterly and monthly basis in order to finance the deficit and repay due debts and plan to maintain an adequate level of liquidity during the budget year;

2) Management of financial resources of the Republic of Serbia, which includes:

– liquidity management through cash management on the consolidated treasury account of the Republic of Serbia and foreign currency funds of the Republic of Serbia;

– budget execution and preparation of periodic reports on budget execution;

– placement of free funds;

– elaboration of procedures for collection of income through the banking system;

– management of other financial assets (shares, bonds, receivables, etc.) and other financial derivatives.

3) Control of expenditures and expenses, which includes approval of payments up to the amount of determined appropriations;

4) Reporting on budget execution;

5) Budget accounting and reporting, which includes:

– accounting operations for payment processing and recording of receipts, bookkeeping, general ledger and certain auxiliary books for all revenues and receipts and expenditures and expenses by users of budget funds and international donations and other types of assistance;

– financial reporting;

– preparation of acts regulating the accounting methodology, including the system of budget classifications, rules of budget accounting and drafting of requirements regarding internal and external reporting;

6) Establishes, develops and maintains the information system of the Treasury Administration, including the system for public finance management of the Republic of Serbia, i.e. local authorities, as well as accompanying subsystems, registers, projects and other information technology solutions, arising from the competence of the Treasury Administration and other affairs entrusted to the Treasury and manages that system;

7) Activities related to public payments, which include keeping records and performing activities within the system of the consolidated treasury account, as follows:

– keeping a list of users of public funds and keeping records of all users of public funds included and not included in the system of consolidated treasury account, keeping records of legal entities as users of budget funds and keeping other records determined by special regulations;

– opening and keeping records on accounts for payment of public revenues;

– allocation of paid public revenues to appropriate sub-accounts of different levels of government, in accordance with the law;

– opening and maintaining sub-accounts of users of public funds included in the system of consolidated treasury account and users of public funds not included in the system of consolidated treasury account, as well as other legal entities that are budget users that do not belong to the public sector;

– maintaining foreign currency accounts of users of budget funds of the Republic of Serbia, users of local government budget funds, users of funds of organizations for compulsory social insurance, as well as other users of public funds included in the consolidated treasury account system;

– keeping other accounts, in accordance with the law and other regulations;

– reporting daily, weekly and monthly based on data from the records of the Treasury;

– receipt, control and processing of payment orders for users of public funds included in the system of consolidated treasury account;

– control over the execution of appropriations by applying the system of execution of the budget of the Republic of Serbia, i.e. local authorities;

– issuing payment orders to the debit of sub-accounts of users of public funds that are included in the system of consolidated treasury account, based on the law and the obtained authorizations, correction of errors and collection of services;

– execution of enforced collection from the account of the user of budget funds;

– making cash payments to users of public funds included in the system of consolidated treasury accounts;

– receipt of cash payments of natural persons for the purpose of settling obligations based on public revenues and obligations towards users of public funds;

– recovery of excess or incorrectly collected budget revenues;

– internal control over the performance of payment operations within the consolidated treasury account system;

– keeping fiscal statistics for public funds, based on data submitted by users of public funds, in accordance with the regulation issued by the Minister;

– monitoring the liquidity of users of public funds included in the system of consolidated treasury accounts and providing data on that, in accordance with applicable regulations;

8) Receives a notification from the local administrative body responsible for finance on the investment of funds on the domestic financial money market;

9) Receives notifications from the users of budget funds on the intention to undertake obligations, on the undertaking of obligations and the envisaged terms and conditions of payment, as well as on any change concerning the amount, terms and conditions of payment;

10) Collects data on financial liabilities assumed from public sector entities in commercial transactions, in terms of the law governing the deadlines for settlement of financial liabilities in commercial transactions, which they submit through the information system of the Treasury and based on these data, submits to the Ministry – Department for Budget Inspection, for the purpose of performing supervision, reports with data on outstanding liabilities of users of public funds whose accounts are kept in the corresponding consolidated treasury account and ensures retrieval of data on outstanding liabilities of public companies from the information system of the Treasury;

11) Performs centralized calculation of income of employees, elected, appointed and engaged persons with users of budget funds of the Republic of Serbia, which includes:

– calculation of salaries, i.e. salaries, salary increases, i.e. salary supplements, compensations, as well as other incomes;

– maintenance and storage of a database on employees, elected, appointed and engaged persons, related to their income;

12) Performs other tasks within the competence of the Ministry, determined by the Minister.

 

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