Transcript Republika e Kosovës - Republika Kosova - Republic of Kosova

Republika e Kosovës - Republika Kosova - Republic of Kosova
Qeveria e Kosovës - Vlada Kosova - Government of Kosova
Ministria e Ekonomisë dhe Financave - Ministarstvo za Privredu i Finansije - Ministry of Economy and Finance
ZILIF LUFI
Deputy Director
Treasury of Republic of Kosova
CONTENT
IPSAS
 Receipt/Payment Recognition
 Financial Statements Requirements (IPSAS –
Cash Based)
 Consolidated Statement
 Treasury Single Account
 Revenue Identification (UNIREF)

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IPSAS


The International Federation of Accountants (IFAC)
developed IPSAS through its International Public
Sector Accounting Standards Board (IPSASB)
Two Methods




Accrual
Cash
To be compliant with IPSAS all organizations must
choose one method
Kosova has elected to choose the CASH BASED
METHOD
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RECEIPT / PAYMENT RECOGNITION
Under Cash Accounting Methodology:

Receipts (Revenues) are recognized once they
come under the control of the Government.

Payments (Expenditures) are recognized when
they are paid from the Kosova Consolidated
Fund bank account.
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FINANCIAL STATEMENTS REQUIREMENTS
(IPSAS – CASH BASIS)

Mandatory




Consolidated Statement of Cash Receipts and Payments
Statement of Comparison of Budget and actual amounts
Notes to Financial Statements
Voluntary






Statement of Cash Assets and Fund Balances (LPFMA)
Notes
Statement of Outstanding Invoices (Liabilities)
Statement of Unjustified Advances and Loans
Non-financial assets disclosure notes according to
Administrative Instruction 2005/11
Statement of Contingent Liabilities
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Sample Financial Statement
Consolidated Statement of Cash Receipts and Payments for the
Government of Kosova
For the Year Ended 31 December 20XX
2006
Notes
2005
Controlled by
Kosovo
Government
Payments
By 3rd
Parties
Controlled by
Kosovo
Government
Payments
By 3rd
Parties
€ '000
€ '000
€ '000
€ '000
RECEIPTS
Taxation
Own Source Revenues
Grants and Aid
Capital Receipts
Total Receipts
PAYMENTS
Operations
Wages and Salaries
Goods and Services
Transfers
Transfers and Subsidies
Capital Expenditures
Property, Plant and Equipment
Other Payments
Total Payments
Increase/(Decrease) in Cash
-
-
-
-
Cash at Beginning of Year
Cash at End of Year
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Sample Financial Statement
Consolidated Statement of Comparison of Budget
and Actual Amounts for the Government of Kosova
For the Year Ended 31 December 20XX
Budget Approved on a Cash Basis
(Classification of Payments By Economic Class)
2006
Notes
2005
Original
Budget
(Appropriation)
A
Final Budget
(Appropriation)
B
Actual
C
Difference
Between
Original
Budget and
Actual
D=C-A
€ '000
€ '000
€ '000
€ '000
Actual
€ '000
CASH INFLOWS
Taxation
Own Source Revenues
Grants and Aid
Capital Receipts
Privatisation Fund
Other
Total Receipts
-
-
-
-
-
CASH OUTFLOWS
Wages and Salaries
Goods and Services
Transfers and Subsidies
Capital Expenditures
Other
Total Payments
-
-
-
-
-
NET CASH FLOWS
-
-
-
-
-
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Sample Financial Statement
Consolidated Statement of Cash Assets and Fund Balances for the Government of Kosova
For the Year Ended 31 December 20XX
Notes
2006
2005
Controlled
by Kosovo
Government
€ '000
Controlled by
Kosovo
Government
€ '000
Financial Assets
Bank Accounts
Cash in Transit
Cash on Hand
Total Cash Assets
-
-
Undistributed
-
-
Total Balance of Funds
-
-
Fund Balances
Specific Purpose
Designated Donor
Other
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TREASURY SINGLE ACCOUNT
The Government manages expenditures and revenues of all
budget organizations through the central Treasury Single
Account (TSA)
 TSA is a banking arrangement to support cash flow control,
cash management and investment planning.
 Treasury controls the opening and closing of all bank accounts
on behalf of the Kosovo Government.
 Sub-accounts are used by Budget Organizations primarily for
revenue collections.
 Treasury operates sub-accounts for expenditures, trust funds
and other deposits.
 Revenue sub-account balances are regularly swept to the
Treasury main bank account.
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REVENUE IDENTIFICATION (UNIREF)
UNIFIED STANDARD FOR REFERENCE NUMBERS FOR THE COLLECTION OF PUBLIC
REVENUES

Every invoice for collection of public revenues must have
this reference number supported by barcodes.
The reference number shall facilitate the identification of
revenue type under program and budget organization. This
identification shall facilitate a more accurate and timely
classification and registration in the Kosova Financial
Management Information System.
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REVENUE IDENTIFICATION (UNIREF) – CONT’D
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QUESTIONS ?
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