1. – Cash Flow Forecasting –
Republic of Croatia
Ministry of Finance
PEMPAL TCOP Cash Management Thematic Group Meeting
– Cash Flow Forecasting –
Vienna, Austria
November 7-9, 2018

2. ORGANISATION Department for State Budget Financial Flow Planning
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 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 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
Department for State Budget Financial Flow Planning
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 guaranties
Analyses the budget categories required for state budget liquidity forecasting
Monitors and records the monthly, weekly and daily liquidity plan execution
Develops daily simulations of monthly financial flows relative to the paid expenses and expenditures, and realized income and receipts
Department for State Budget Financial Flow Management
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

3. CADRES AND DATA SOURCES
EXPENSES
INCOME
TSA
FINANCIAL AGENCY (FINA)
CROATIAN NATIONAL BANK
SPENDING UNITS
SECTOR FOR INTERNATIONAL FINANCIAL INSTITUTIONS
DEPARTMENT FOR STATE BUDGET FINANCIAL FLOW PLANNING
FMIS
INSTITUTE FOR MACROECONOMIC ANALYSES AND PLANNING
TAX ADMINISTRATION
NATIONAL FUND SECTOR
PUBLIC DEBT ADMINISTRATION
FORECASTS AND EXECUTION IN THE PREVIOUS PERIOD

4. TIMEFRAME AND SCOPE – Monthly liquidity forecast

5. MONTHLY BALANCE FLUCTUATIONS
INCOME
EXPENSES
BALANCE

6. BASIC TOOLS – EXCELL WORKSHEETS – MANY

7. TOOLS AND SOFTWARE FOR FORECASTING FMIS
INTERNET
CROATIAN NATIONAL BANK
FINANCIAL AGENCY (FINA)
SUPPLIER REQUEST
FOREIGN PAYMENTS
SINGLE ACCOUNT REGISTRY
PAYMENTS IN HRK
CENTRAL STATE TREASURY SYSTEM
SAP
WEB APPLICATIONS
MASTER DATA MANAGEMENT
BW-BUSINESS WAREHOUSE
BUDGET EXPLANATIONS
INCIDENT AND CHANGE MANAGEMENT SYSTEM
BUDGET CLASSIFICATIONS
GATEWAY
R/3 TRANSACTION SYSTEM
FISCAL IMPACT ASSESSMENT
BUDGET USERS
FINANCIAL MANAGEMENT INFORMATION SYSTEM
INTERNET BROWSER
SAP REGIONAL TREASURY

8. ACCURACY AND PRECISION – INCOME AND RECEIPTS FORECASTS, EXPENDITURE AND EXPENSES FORECASTS – 2018 SEMIANNUAL BUDGET EXECUTION
EXPENDITURE plan
EXPENDITURE 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
EXPENSES plan
EXPENSES 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

9. FORECAST INFORMATION USERS
DEPARTMENT FOR STATE BUDGET FINANCIAL FLOW PLANNING
TREASURY ADMINISTRATION
DIRECTORATE FOR PUBLIC DEBT MANAGEMENT
DIRECTORATE FOR MACROECONOMIC ANALYSES
LIQUIDITY COMMITTEE
INTERESTED PUBLIC

10. INFORMATION ON THE SIGNIFICANT BUDGET EXPENSES PAYMENT PLAN

11. CHALLENGES AND ISSUES AMENDMENTS TO THE DECISION ON FINANCING
EXTENSION OF MATURITY
“URGENT” PAYMENTS
STATE GUARANTEE COMMITTMENTS, ON ACTIVATION
SPENDING PLANNED FUNDS AT THE END OF THE YEAR
INABILITY TO PLAN THE INFLOW OF EU FUNDS WITH MORE PRECISION
MATURITY MISMATCH BETWEEN FOREIGN CURRENCY ASSETS AND LIABILITIES

12. Questions and comments? THANK YOU FOR YOUR ATTENTION!