1 Kishinev, Moldova June 1-3, 2016 Results of TCOP activities in FY 2016

TCOP Action Plan for FY 2016 ( July 2015 – June 2016 )  Was developed in accordance with:  The PEMPAL Strategy  Results of TCOP member surveys, including that in Tirana in May  Is meant to provide for achievement of 4 strategic goals of PEMPAL:  Promotion of PFM reforms that are priorities for TCOP members, with the focus on national treasuries reforms  Provision of high quality resources and knowledge services to TCOP members  Forming a highly professional community of treasury specialists in TCOP countries  Gaining support for TCOP activities and for activities of PEMPAL as a whole from top management of treasuries from member countries. 2

TCOP Executive Committee 3 Zaifun Yernazarova, TCOP Deputy Chair, Department Head,State Treasury, Kazahstan Vugar Abdullaev, TCOP Chair, Deputy Director, State Treasury, Azerbaijan Nino Tchelishvili, TCOP Deputy Chair, Deputy Director, State Treasury, Georgia Mimoza Pilkati, Head of Department, State Treasury, Albania Alexander Demidov, Deputy Head, State Treasury, Russian Federation Ludmila Guryanova, Deputy Head, State Treasury, Belarus Angela Voronin, Deputy Head, State Treasury, Moldova Maria Popovic, Head of Department, State Treasury, Montenegro

TCOP activities in 2016 was carried out in 4 main thematic areas Cash Cash management IT Use of information technologies in treasury operations Treasury Function Evolvement of the Treasury role and functions A/L Accounting and reporting in the public sector 4

Format of events held in TCOP Plenary meeting with participation of 50 persons (Kishinev, 2016) TCOP Plenary meetings 3 small scale workshops (Tbilisi, Ankara, Kishinev) with participation of about 130 TCOP members Small scale workshops 4 thematic videoconferences were held with participation of about 75 TCOP members Thematic videoconferences 5 TCOP Executive Committee held 5 meetings (including 3 videoconferences) Meetings of the TCOP Executive Committee 1 joint meeting of PEMPAL COPs ECs (Vienna, July 2015) Joint meeting of PEMPAL COPs Executive Committees

TCOP Thematic Groups Group “Evolvement of the Treasury Role and Functions” (10 countries). Groups on accounting and reporting in the public sector, with focus on: Accounting standards (6 countries) Accounting for public assets (10 countries) Consolidation of financial statements (7 countries) Group on use of IT in treasury operations (10 countries) Group on cash management (9 countries) 6

Workshop “FMIS Implementation Issues” Tbilisi, Georgia, October Presentation to TCOP members experience of implementing FMIS in Georgia and other countries Discussion of organizational models of IT support in member countries and international trends Event objectives Detailed analysis of experience of Georgia in implementing the new FMIS, introduction to participants of main characteristics of the system and activities of FAS of the Ministry of Finance of Georgia Discussion of main OECD recommendations (9) on efficient use of IT and on organizational models for managing IT (4) Main results Members of the TCOP thematic group on use of information technologies in treasury operations – 52 participants from 10 member countries The detailed report and materials of the event could be found at the PEMPAL web-site: Participants

Workshop of the TCOP Thematic Group on Use of IT in Treasury Operations Tbilisi, Georgia

Workshop “Cash Management”, Ankara, Turkey, March Giving an opportunity to TCOP members to get better understanding of cash management issues that are of special interest for them – based on the example of Turkey and other countries Discussion of approaches to determining the target level of cash balance in the TSA Event objectives Presentation of the PFM system of Turkey to the participants with the focus on cash management processes. Detailed analysis of instruments used in Turkey for optimization of CM, including IT Better understanding by participants of the concept of special purpose cash balance in the TSA Conclusions based on the results of survey on TSA and the Event Report Main results Members of the TCOP thematic group on cash management – 38 participants from 11 member countries The detailed report and materials of the event could be found at the PEMPAL web-site: Participants

Workshop of the TCOP thematic group on cash management 10 Ankara, Turkey

Thematic videoconferences Topic: “Improvement of Operations Using the Treasury Single Account and Cash Flow Management” The first meeting of the thematic group “Evolution of the Role and Functions of the Treasury” Topic: “Belarus Experience in Protection of Information in the Automated Financial Settlement System” Topic: “Experience of the Republic of Kazakhstan in Interaction with Service Providers Supporting FMIS”

New TCOP Thematic Group “Evolution of the Role and Functions of the Treasury” International world trends of treasury function evolution were discussed in the framework of the videoconference on – presentation of Mr. Silins and experience of Azerbaijan Treasury development A group composed of 10 countries was established and thematic proposals were made for future events of the group, including the following: thematic proposals - Strategic plan of Treasury System development: coordination and monitoring arrangements - Expansion of treasury operation coverage, limits of coverage, risks and difficulties. - Improvement of the liability control system - Treasury as a financial institution 12

13 - Final report on the work of the TCOP thematic group on Asset Management - Draft of the Practical Guidance on Consolidation of Financial Statements - Report on the results of the Survey on practice of Treasury Single Account functioning in PEMPAL member countries - Detailed Reports on all events held in FY 2016, which among other things contain main results of discussions Knowledge Products Developed in the Framework of the TCOP

Final report on the work of the TCOP thematic group on Asset Management 14 The report contains brief information on activities of the Thematic Group on asset management during the period from event held in Skopje in 2013 until the last event held in Montenegro in November The group held three face-to-face meetings, including the meeting in Tbilisi in February 2014, and also took part in three videoconferences – in December 2013 and in June and October 2014.

Survey on Practice of TSA Functioning in TCOP Countries 14 countries gave answers to survey (Albania, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Macedonia, Moldova, Russia, Tajikistan, Turkey, Croatia, Montenegro, Ukraine) conducted at the initiative of the TCOP Executive Committee The survey is a practical step for replenishment of the PEMPAL bank of knowledge that consists of methodological, legal and analytical documents Goal: collection of comparable information from TCOP countries on main characteristics of the Treasury Single Account in each country. The report on the results is on the PEMPAL web-page We ask other TCOP member countries to answer the survey!!! 15

Next Steps  Determination of TCOP priorities for the next mid-term period as a contribution in the new PEMPAL Strategy ( )  Coverage of all TCOP member states in the survey on the Treasury Single Account.  Detailed TCOP Action Plan for FY 2017, taking into consideration results of survey of TCOP members in Kishinev - Determining topics for scheduled events - Identification of locations and dates of events, including the TCOP plenary meeting in

TCOP Action Plan for FY face-to-face meetings are planned: Small scale workshop on accounting and reporting in public sector (October 2016, Minsk, Belarus) Study tour of the group on Use of IT in Treasury Operations (autumn 2016, the locations has not been determined, Estonia, Czech Republic, Austria are considered) Small scale workshop on Cash Management (February – March 2017, location has not been determined) TCOP plenary meeting (May 2017, location has to be determined) Specific topics, final dates and locations of the events would be determined based on the results of the survey of TCOP members in Kishinev 17

Information on the TCOP Activities 18

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