1. Current status of the public finance management system in the Republic of Belarus

2. Minsk 6 oblasts + the city of Minsk 118 regions 207,000 square km
Population: 9.5 mln (global rank: 93)
men – 46.5%
women – 53.5%
urban population – 77.3%
rural – 22.7%
Minsk
207,000 square km
(global rank: 84)
Official languages
Belarusian
Russian

3. Production of off-highway dump trucks: global rank 3
Potash production: global rank 3
Dairy product export: global rank 4
10% of the global tractor manufacturing market
US Dollars 54.4 bln
Human development index rank: 50
GDP
HDI
Minsk

4. BUDGET SYSTEM STRUCTURE
Consolidated budget of the general government sector
Public off-budget funds
Social Security Fund
National Off-Budget Fund of Civil Aviation
National Off-Budget Fund of the Department of Corrections
National Off-Budget Fund of Universal Services of the Ministry of Communications
Consolidated budget
Republican budget
Local budgets
(total:1,327 budgets)
Primary level budgets
Village
(1,162)
Settlements
(16)
Rayon subordinated towns
(14)
Base level budgets
Rayon
(118)
City
(oblast-subordinated cities)
(10)
Oblast level budgets
Oblast budgets (6)
Minsk city budget

5. Adoption of the republican budget law
BUDGETING PROCESS
Ministry of Economy
Forecast of key economic development parameters
National Bank
Forecast of key monetary performance parameters
Ministry of Financing
Republican budget drafting
Draft of the main directions of the fiscal policy
Government
Review of a draft republican budget
Submission to the President for review
Submission to the House of Representatives for review and approval
Adoption of the republican budget law
Republican budget
Budget fund administrators, oblast-level executive and administrative bodies
Proposals according to instructions of the Ministry of Finance

6. Local budgets Local budgets are drafted on the basis of:
Final compilation of drafts of oblast budgets, the Minsk city budget and estimated indicators of consolidated regional budgets, budgets of oblast-level cities
Final compilation of drafts of regional budgets, oblast-level budgets and estimated indicators of budgets of rural councils, townships, regional-level cities
Review of draft local budgets by relevant local executive and administrative bodies
Submission to relevant local Councils of Deputies for approval
Adoption of the republican budget law
Approval by local Councils of Deputies
Local budgets
Local budgets are drafted on the basis of:
parameters, forecast of economic development, budget provision standards, plans of social and economic development of the administrative unit, own revenues taking into account of deductions from central and local taxes.

7. BUDGET REVENUE EXECUTION
Treasury Single Account
Payers
Territorial Units of the Treasury (transit accounts)
Ministry of Finance
(republican budget sub-account) 1 2 3
Payments, other than customs
BELARUSBANK
Social Security Fund
Ministry of
Taxes and Duties
BELARUSBANK

8. BUDGET EXPENDITURE EXECUTION THROUGH THE TREASURY SYSTEM3 4 5 1
Main State Treasury
Suppliers
Budget fund recipients
Territorial Units of the Treasury
Application for financing
Payment instruction 2
National Bank
BELARUSBANK
(Accounts of the Treasury local agencies)

9. DEVELOPMENT OF THE TREASURY SYSTEM OF THE REPUBLIC OF BELARUS
1993
Establishment of the state treasury system
TSA introduction
Establishment of the second tier of the treasury system – territorial units of the State Treasury
Development of the automated system of state treasury
Treasury-based execution of the republican budget, state earmarked budget funds through the TSA
Further expansion of coverage of financial resources (the Union State budgets, Social Security Fund, innovation funds and local budgets) by treasury technologies
2011
Electronic document introduction
Transition to treasury-based execution of public off-budget funds, revenue and expenditures of off-budget funds of individual public bodies
Introduction of the centralized automated system of collection and consolidation of budget execution reports
Present
Expansion of the TSA coverage

10. STRUCTURE OF PUBLIC FINANCIAL RESOURCES ACCUMULATED IN THE TSA

11. TREASURY SYSTEM STRUCTURE
Total number of treasury staff: 530
Main State Treasury
Territorial Units of the Treasury in oblasts and in the city of Minsk
Departments of the Treasury Territorial Units
Budget execution management
Cash revenue and budget commitments management
Budget accounting and reporting management
Unit for Enhancement of Public Sector Accounting and Reporting 7
128

12. Key regulation: Law on Accounting and Reporting, No. 57-Z of 12. 07
Accounting and reporting principles
Legislation and instructions on accounting and reporting
Supervision of accounting
Accounting policy
Requirements to primary documents and accounting registers
General requirements to and contents of reporting
Accounting requirements for assessment of assets, liabilities, equity capital, income and losses

13. Law on Accounting and Reporting No. 57-Z of 12.07.2013
Budget entities
Regulations on accounting in budget sector
Chart of accounts of budget entities (Ministry of Finance Resolution No. 50 of )
Financial departments
Guidelines on accounting for local budget execution by financial departments
Oblast- and base-level budgets
Chart of accounts of local budget execution (Ministry of Finance Order No. 299 of )
Primary level budgets
Chart of accounts of rural councils (USSR Ministry of Finance order No. 95 of )
Treasury
Internal regulations of the Ministry of Finance
Treasury chart of accounts for budget execution (Ministry of Finance order No. 521 of )
Commercial organizations
Regulations on accounting in the commercial sector
Non-financial institutions
Standard chart of accounts (Ministry of Finance Resolution No. 50 of )
Financial institutions
Chart of accounts of banks and non-bank finance institutions (National Bank Resolution No. 506 of )

14. IFRS IN THE REPUBLIC OF BELARUS
Commercial organizations apply the National Accounting and Reporting Standards:
Consolidated Reporting
Effect of Foreign Exchange Fluctuations
Organization Accounting Policy, Changes in Estimate Assessments, Errors»
Banks and non-banking credit and financial institutions apply:
IFRS-Based National Financial Reporting Standards ( 24 standards)
open joint-stock companies
banks
non-banking credit and financial institutions
insurance organizations
Pursuant to the Law on Accounting and Reporting No. 57-Z of , IFRS-compliant reporting shall be compiled by organizations of public interest:
On January 1, 2017, the Republic of Belarus introduces IFRS and explanations to them, as developed by the IFRS Foundation, as a national technical regulation. (Resolution of the Council of Ministers of the Republic of Belarus and National Bank of the Republic of Belarus No. 657/20 of )

15. REPORTING FORMS FOR BUDGET ENTITIES
Balance sheet
Budget estimate execution report
Report on execution of estimated capital construction budget (with Annex)
Report on execution of estimated revenues and expenditures from income-generating activities of budget entities
Report on changes in fixed assets, selected current assets
Report on movement of tangibles
Report on receipt and use of earmarked state budget funds
Report on receipt and use of state off-budget funds
Report on use of earmarked and other funds
Report on execution of estimated revenues and expenditures of the Fund for a free economic zone development
Property shortage and theft report
Monthly report on use of funds allocated from the budget
Monthly report on use of funds by diplomatic and consular missions of the Republic of Belarus abroad
Explanatory note (including information about accounts receivable and payable)
REPORTING FORMS FOR BUDGET ENTITIES

16. BUDGET EXECUTION REPORTING FORMS
Budget execution report (monthly, quarterly, annual)
Budget execution balance
Consolidated report on execution of estimated revenues and expenditures from income-generating activities of budget entities
Consolidated report on changes in fixed assets, selected current assets
Consolidated report on movement of tangibles
Consolidated report on receipt and use of earmarked state budget funds
Consolidated report on use of earmarked and other funds
Consolidated report on property shortage and theft in budget entities
Information about arrears as of end of reporting period
Explanatory note
Local budget execution reports

17. Main State Treasury Reports
Republican budget execution balance
Republican budget execution report (revenues, expenses, sources of financing)
Local budget execution report (revenues, expenses, sources of financing)
Consolidated budget execution report
Information on liabilities of republican and local budgets (accounts receivable, accounts payable, overdue accounts payable)
Summary of individual forms submitted by administrators of republican budget funds
Aggregate local budget execution balances
Main State Treasury Reports

18. ORDER OF PROCESSING LOCAL BUDGET EXECUTION REPORTS
Main State Treasury
Oblast Financial Department
Oblast Public Health Department
Oblast Hospital
Rural councils
Regional Financial Department
Regional Department of Education, Sports and Tourism
Kindergartens
Schools
Athletic and rehabilitation centers

19. ORDER OF PROCESSING THE CONSOLIDATED BUDGET EXECUTION REPORT
Consolidated local budget execution report
Republican budget execution report
Brest Oblast budget execution report
Vitebsk Oblast budget execution report
Gomel Oblast budget execution report
Grodno Oblast budget execution report
Minsk city budget execution report
Minsk Oblast budget execution report
Mogilev Oblast budget execution report

20. Thank you!