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STATE TRASURY

STATE TRASURY. State Treasury (ST). ST was established on the basis of Act No. 291/2002 Coll. on the State Treasury and on Amendment and Supplementation of Certain Laws as amended. ST is a part of Public service – budgetary organisation connected to state budget by Ministry of finance

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STATE TRASURY

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  1. STATE TRASURY

  2. State Treasury (ST) • ST was established on the basis of Act No. 291/2002 Coll. on the State Treasury and on Amendment and Supplementation of Certain Laws as amended. • ST is a part of Public service – budgetary organisation connected to state budget by Ministry of finance • its main goal is to realize Public budget and to concentrate public revenues • rises transparency in entire system of public finance management • enables more effective management of debt and liquidity • the State Treasury System is a primary part of public finance system

  3. Main goals of the State Treasury

  4. Bank products of ST State Treasury keeps 7 basic types of accounts: • Expenditure accounts in SKK • Revenues accounts in SKK • Current accounts in SKK and in foreign currencies (EUR, USD, CHF, CZK, GBP a JPY) • Deposit (term) accounts in SKK and in foreign currencies (EUR, USD, CHF, CZK, GBP a JPY ) • Technical accounts of the State Treasury

  5. Accounts kept in ST by 30.06.2005 • By 30.06.2005 ST kept 20 239 accounts: • thereof 17 428 active accounts • thereof 10 165 budgetary accounts which can by divided on: 1 145 expenditure accounts • 9 020 revenue accounts • 7 263 current accounts thereof: • 726 accounts in foreign currency • 1 444 interest accounts in SKK

  6. ST has almost 25 % share on the slovak clearing FC – foreign clearing HC – home clearing

  7. Trend of sources centralised • in the State Treasury System (STS) in 2005 Sources of public–legal institutions, public Universities, municipalities Sources centralized in STS Sources of European communities

  8. Structure of STS revenues 2004 by 30.07.2005 2004 by 30.07.2005 Earned - paid interests Earned – paied fees Exchange rate differences arised by conversion ECB exchange rates

  9. Acquisitions of the State Treasury System • concentration of revenues and expenditures of State budget, state´s funds budgets, budgetary and contributory organisations, public universities, higher municipalities and Public budget • concentration of all balances on the State´s treasury Single account • realization of expenditures of the State and Public budget • assurance of daily liquidity of the State budget • debt and liquidity management • account management and payment system for clients • executing of financial plans and reports for Ministry of Finance, Statistical office of SR, NBS and for international organisations • actual information about budget

  10. Effects of the State Treasury • Direct financial effects • State´s budget income • lower price for State´s debt financing • cost savings in public finance (refinance system) • Indirect effects • no fees for transfers between Public budget and revenue accounts for every organisation • transfers between Public budget and revenue accounts in one day • positive influence on the country´s rating • increase of currency system stability

  11. State Treasury 2003 • building of the State Treasury, preparation of legislation 2004 • introduction into operation • creation of database of clients and beneficients • preparing for connecting of clients into STS • creation database in parallel system 2005 • full operation • adaptation of the legislation • adaptation of Information system – new products - customers demands • creating of „user´s friendly system“ • permanent education of users Information system • cooperation with Ministry of Finance in Public service account reform

  12. THANK YOU FOR YOUR ATTENTION

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