Strengthening the annual state budget balance sheets

State Treasury is reinforcing the drawing of the balance sheet of the annual state budget

Based on the decision by the Prime Minister on annual state budget estimates and the Ministry of Finance's guidelines, State Treasury requires its subordinate units to allocate their budgets to lower units for active implementation at the beginning of the year, avoiding funds accumulation at the end of the year.

State Treasury fixed the deadline of the annual state budget closeout at January 31st. Expenditures against the State budget from the previous year after January 31st, should be accounted in the succeeding year, including revenues and expenses records.

Financial authorities shall review and adjust all records of revenues and expenditure noted in a general manner. In fact, revenue and expenses not subjected to recording are amounts received from medical services and treatment (including the cases that have not been adjusted by service charges).

State Treasury sent a request to financial authorities to coordinate with Treasury at all levels before 30 April, to urgently review, collate and adjust (if erroneous) recorded data with regard to loans and related assistance in order to ensure consistency between Treasury and financial authorities.

Moreover, Treasury at all levels will collate detailed data on expenditure of the previous year's estimated State budget with the budget units. Treasury will also establish and send a report of revenues and expenditures to financial authorities of the same level.

Collected annual income and expenditure data of the State budget to Jan 31st is the basis for State Treasury to collate and confirm with the authorities and units that make estimates of the budget, tax authorities, customs and financial authorities at all levels. It is also the basis for managing the budget at the end of year, and for producing the annual budget statement

The State Treasury has also requested ministries, central and local authorities to supervise and advise subordinates in implementation of the above mentioned content. Any problems occurring in the process of implementation should be promptly reported in writing to the Ministry of Finance for reviewing and settlement.