Republic of Croatia Ministry of Finance Cash Flow Forecasting Vienna Austria November 79 2018 PEMPAL TCOP Cash Management Thematic Group Meeting Department for State Budget Financial Flow Planning ID: 764230
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Republic of Croatia Ministry of Finance – Cash Flow Forecasting – Vienna, Austria November 7-9, 2018 PEMPAL TCOP Cash Management Thematic Group Meeting
Department for State Budget Financial Flow Planning ORGANISATION Department for State Budget Financial Flow Management Develops forecasts of state budget cash flows and forecasts of the structure and amount of budget expenses, which include information on the planned expenditures, principal and interest payments, and the issued guarantiesAnalyses the budget categories required for state budget liquidity forecastingMonitors and records the monthly, weekly and daily liquidity plan executionDevelops daily simulations of monthly financial flows relative to the paid expenses and expenditures, and realized income and receipts Suggests the possible schemes for shortfall financing and possible investments of temporary cash surpluses from the state budget account with short-term bank deposits in domestic and foreign currency Monitors balance movements in the state budget account, in domestic and foreign currency MINISTRY OF FINANCE STATE SECRETARY GENERAL SECRETARIAT Human Resources, Legal Affairs and Information Sector Public Procurement , General and Technical Affairs Sector Sector for the construction and maintenance of border crossings Finance and Accounting Sector IT Sector CABINET OF THE MINISTER STATE TREASURY DIRECTORATE FOR MACROECONOMIC ANALYSES , EU AND INTERNATIONAL FINANCIAL RELATIONS Institute for Macroeconomic and Fiscal Analyses and Forecasts EU and International Financial Relations Sector DIRECTORATE FOR THE ECONOMY AND FINANCIAL SYSTEM Sector for Concessions and State Grants Sector for SOE Business Analyses Sector for the Financial System DIRECTORATE FOR FINANCIAL MANAGEMENT, INTERNAL AUDIT AND SUPERVISION Financial Inspectorate Sector for Financial and Budget Supervision Service for Internal Audit and Internal Supervision Fraud and Deviations Service CUSTOMS TAX ADMINISTRATION Sector for the preparation and drafting of the State Budget Proposal State Budget Execution Sector State Accounting and Non-Profit Organisation Accounting Sector Sector for National Fund Operations Internal Control Harmonisation Sector Sector for Financing Local and Regional Self-Government Units Service for Normative and Legal Affairs Legal Affairs DIRECTORATE FOR PUBLIC DEBT MANAGEMENT Debt and Risk Management Sector Sector for the compensation of seized property Sector for legal and IT support OFFICE FOR THE PREVENTION OF MONEY LAUNDERING INDEPENDENT SECTOR FOR SECOND-INSTANCE ADMINISTRATIVE PROCEDURE INDEPENDENT SECTOR FOR ISSUING WORK PERMITS AND SUPERVISION OF CERTIFIED AUDITORS AND AUDITING FIRMS
CADRES AND DATA SOURCES DEPARTMENT FOR STATE BUDGET FINANCIAL FLOW PLANNING FINANCIAL AGENCY (FINA) CROATIAN NATIONAL BANK SECTOR FOR INTERNATIONAL FINANCIAL INSTITUTIONS INSTITUTE FOR MACROECONOMIC ANALYSES AND PLANNING NATIONAL FUND SECTOR FORECASTS AND EXECUTION IN THE PREVIOUS PERIOD SPENDING UNITS FMIS TAX ADMINISTRATION PUBLIC DEBT ADMINISTRATION TSA EXPENSES INCOME
TIMEFRAME AND SCOPE – Monthly liquidity forecast
MONTHLY BALANCE FLUCTUATIONS INCOME EXPENSESBALANCE
BASIC TOOLS – EXCELL WORKSHEETS – MANY
TOOLS AND SOFTWARE FOR FORECASTINGFMIS FOREIGN PAYMENTS PAYMENTS IN HRK SUPPLIER REQUEST SINGLE ACCOUNT REGISTRY FINANCIAL MANAGEMENT INFORMATION SYSTEM SAP REGIONAL TREASURY INTERNET BROWSER MASTER DATA MANAGEMENT BW-BUSINESS WAREHOUSE R/3 TRANSACTION SYSTEM GATEWAY FISCAL IMPACT ASSESSMENT INCIDENT AND CHANGE MANAGEMENT SYSTEM BUDGET CLASSIFICATIONS BUDGET EXPLANATIONS WEB APPLICATIONS SAP CENTRAL STATE TREASURY SYSTEM BUDGET USERS FINANCIAL AGENCY (FINA) CROATIAN NATIONAL BANK INTERNET
ACCURACY AND PRECISION – INCOME AND RECEIPTS FORECASTS, EXPENDITURE AND EXPENSES FORECASTS – 2018 SEMIANNUAL BUDGET EXECUTION EXPENSES plan EXPENSES execution EXPENDITURE plan EXPENDITURE execution RECEIPTS plan RECEIPTS execution Jan.18 Feb.18 Mar.18 Apr.18 May.18 Jun.18 Jan.18 Feb.18 Mar.18 Apr.18 May.18 Jun.18 Jan.18 Feb.18 Mar.18 Apr.18 May.18 Jun.18 Jan.18 Feb.18 Mar.18Apr.18 May.18Jun.18
FORECAST INFORMATION USERS
INFORMATION ON THE SIGNIFICANT BUDGET EXPENSES PAYMENT PLAN
CHALLENGES AND ISSUES MATURITY MISMATCH BETWEEN FOREIGN CURRENCY ASSETS AND LIABILITIES INABILITY TO PLAN THE INFLOW OF EU FUNDS WITH MORE PRECISION SPENDING PLANNED FUNDS AT THE END OF THE YEAR STATE GUARANTEE COMMITTMENTS, ON ACTIVATION “URGENT” PAYMENTS EXTENSION OF MATURITY AMENDMENTS TO THE DECISION ON FINANCING
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