Strategies for Treasury Modernization in PEMPAL Member Countries thematic survey results Elena Nikulina, World Bank, June 2012

TCOP members were surveyed in June 2012, in preparation for the Moscow meeting 17 countries responded. The data covers all the countries represented at the TCOP June 2012 workshop, except Armenia and Montenegro TCOP members were surveyed in June 2012, in preparation for the Moscow meeting 17 countries responded. The data covers all the countries represented at the TCOP June 2012 workshop, except Armenia and Montenegro

Main Findings Treasury reform agenda is incomplete everywhere. All the countries see a need to further strengthen treasury functions. Treasury reform priorities are formally defined in the majority of countries (12). In most cases, these are integrated into broader strategic documents. A few countries developed strategic documents specifically for the purposes of the treasury In 5 countries, no formal strategic documents exist, but the vision of reform priorities is present. The functions that require further strengthening in the majority of countries relate to cash management, accounting, management of payments and treasury controls Information systems need to be developed further everywhere. Staff training is also a major concern for an overwhelming majority of countries Treasury reform agenda is incomplete everywhere. All the countries see a need to further strengthen treasury functions. Treasury reform priorities are formally defined in the majority of countries (12). In most cases, these are integrated into broader strategic documents. A few countries developed strategic documents specifically for the purposes of the treasury In 5 countries, no formal strategic documents exist, but the vision of reform priorities is present. The functions that require further strengthening in the majority of countries relate to cash management, accounting, management of payments and treasury controls Information systems need to be developed further everywhere. Staff training is also a major concern for an overwhelming majority of countries

Existing Strategic Documents Defining Treasury Reform Priorities Country Period covered Separate/ part of broader document Title of the document Can be shared Albania (vision up to 2020) part Policy paper of PIFC (CoM decision) Yes Bosna i Hercegovina Envisaged completion of activities – end of 2012 part Action Plan for Public Administration Reform in Bosnia and HerzegovinaYes Bulgaria Medium-term Separate Concept for optimized model of integrated state treasury in BulgariaYes Croatia – (5 years) part PFM strategyYes Kazakhstan Plan for 3 years with annual adjusting partStrategic plan of MoF RK Yes Kyrgyzstan partReform in State Finance Management in KR Yes Romania part Debt Management Strategy for Yes Russia SeparateStrategic Map of the Russian Treasury for Yes Serbia part Government Work Programme for 2012, Government Administration Development Strategy and E- Government Development Strategy. - Tajikistan SeparateStrategic Plan for Treasury System Development in RT ( ) Yes Ukraine part Strategy of modernization of state finance management system. Strategy of modernization of accounting system in public sector for Yes Uzbekistan partStrategy of State Finance Development of RU for Yes

Treasury Functions to be Strengthened Functions ALAZ BYBABGHRKZKGMKMDRORURSTJTRUAUZ Budget management Management of payments Management of receipts Cash management Commitment management Treasury controls Accounting Reporting Other  Most of treasury functions require further strengthening across the countries  Cash management, accounting, management of payments and treasury control mechanisms are the areas in which most countries see a need for further improvement

Areas that Require Further Improvement Areas ALAZAZ BYBABGHRKZKGMDRORURSTJUAUZ Business processes and procedures Methodology documentation Legislation Organizational structure Human resources management Staff training Information systems Other  Information systems require further improvement everywhere  Staff training is also a major concern for an overwhelming majority NOTE: No responses were provided by Macedonia and Turkey to this question