Treasury System Research Articles

The stability of the treasury system as a result of treasury risk management

Relevance. The fundamentals of control activities are based on effective risk management. The main burden on the internal control system is aimed at ensuring compliance by the audit subject with regulatory and legislative acts governing the activities of treasury bodies, timely detection and prevention of treasury risks in order to implement the necessary preventive measures aimed at minimizing the likelihood of the occurrence of negative consequences associated with them for the activities of the department.The purpose of the study is to assess the stability of the treasury system as a result of treasury risk management.Objectives: consideration of theoretical and organizational and legal aspects of budget execution, assessment of the treasury system, determination of areas for improving treasury control as a factor in operational efficiency in managing the budget process at the regional level.Methodology. The authors used general scientific methods of research, vertical and horizontal analysis, comparison, summary and grouping, generalization of scientific practice, forecasting.Results. The conducted research allowed to form and highlight the following scientific results: to determine the role of treasury bodies in the system of state financial control at the regional level, to conduct a general analysis of the activities of the Federal Treasury Department in the Kursk Region and to analyze the treasury execution of the budget of the Kursk Region, to identify risks for the treasury system when introducing the digital ruble.Conclusions. Control is the main procedure of the treasury system of budget execution. Cash servicing of budget execution involves the implementation and accounting of cash transactions on income and expenses and sources of financing deficits. The Federal Treasury Department in the Kursk Region plays an important role in the financial system of the region and contributes to sustainable development. The use of a risk-oriented approach by treasury bodies involves the selection of objects of external control of entities of audit activity based on the analysis of the risks of their activities, the application of international audit standards, which is aimed at reducing the audit time, reducing duplicate control functions, forming a unified management paradigm of public management applied in related control and supervisory bodies in the financial and budgetary sphere of Russia.

AI in Treasury Management: Enhancing Bank's Treasury System for Budget Execution in the Medium Term

AI in Treasury Management: Enhancing Bank's Treasury System for Budget Execution in the Medium Term

Integrasi Aplikasi Pengelolaan Keuangan untuk Mendukung Sistem Penyusunan Laporan Keuangan Pemerintah Daerah Terpadu Provinsi XYZ

Province XYZ Government has several application systems to support financial management and reporting system like budgeting and treasury system, asset management system and accounting system. All systems are working separately which may cause data to exist only in one of those systems when another system is needed for those data. They need integration among those systems to have more beneficiaries from the systems. This research used Enterprise Application Integration (EAI) to confront the problem. We used data level integration to integrate the asset management system and accounting system and application interface level integration using APIs to integrate the budgeting and treasury system and accounting system. Our experiment results that data-level integration is simpler to develop than application interface-level integration. Application interface level integration needed more prerequisite requirements and is more difficult to develop but more flexible and secure to connect and integrate into another system. Our performance test shows that integration using APIs needs more resources and probably gives a problem when the text data that is interchanged is too big. When all systems are owned by one institution that does not need restricted security constraints, data level integration gave more benefit for institution system integration.

A Five-Day Week in Rwanda in the Second Half of the Nineteenth Century and in the Early Twentieth Century

The aim of the author of the article is to examine the role of the week and the related dimension of serfdom (corvée) in the treasury system of Rwanda in the second half of the 19th century and the beginning of the twentieth century. The author discusses the current state of research and various opinions on the credibility of written and oral sources relating to this issue. Subsequently he quotes and analyzes a hitherto unknown source regarding the functioning of the week and serfdom, i.e. fragments of Jan Czekanowski's manuscript diary from field research in Central Africa, including Rwanda, in the years 1907–1909. Czekanowski not only confirms the existence of the week – corvée system in the central provinces of Rwanda and draws attention to the conflicts related to its operation, but also describes the methods of legitimizing this form of duty used by the ruling group in Rwanda.

The role of the state treasury service in solving problem issues of control over the execution of the state budget of Ukraine

The paper reveals the role and problems of determining the peculiarities of solving the problems of the State Treasury Service of Ukraine to ensure control over the implementation of the state budget of Ukraine as one of the conditions for the development of a modern democratic society. In this area, a rather important role is played by the State Treasury Service, which has been working in the field of public finances since the first days of its operation, and aims to achieve a clear and well-organized control over funds, which will certainly put a lid on their misuse. The state treasury, whose purpose is to serve people and through which economic and social issues are to be resolved, is worthless if there is no order in the circulation of its funds. Currently, our country uses the treasury system of cash service of state and local budgets. Its functioning makes it possible, on the basis of clearly defined amounts of real needs, to optimize budget flows in the most rational way, to ensure uninterrupted financing of all participants in budget relations, to execute the budget transparently and efficiently. The organization of a set of measures to ensure the full and timely implementation of the state budget revenue and expenditure plan is extremely important for the organization of the life activities of our state. The Treasury in its activities is guided by the Constitution and laws of Ukraine, decrees of the President of Ukraine and resolutions of the Verkhovna Rada of Ukraine adopted in accordance with the Constitution and laws of Ukraine, acts of the Cabinet of Ministers of Ukraine, other acts of legislation, as well as instructions of the Cabinet of Ministers of Ukraine and the Minister of Finance. The State Treasury Service of Ukraine performs important functions in servicing the revenues of the state and local budgets. These functions include work on the recording of budget revenues, their distribution and return, as well as accounting for these operations and control over their implementation. It is safe to say that the introduction of treasury service of state and local budgets contributed to the strengthening of discipline in the financial sphere.

Analisis Ekonomis, Efisiensi dan Efektivitas Anggaran Pendapatan dan Belanja

The objective of this study was to understand the economical, efficient and effective implementation of the State Revenue and Expenditure Budget at the government institution. Data sources used in this study are financial reports especially budget ceiling and budget realization between the period of 2017 and 2021 fiscal year was obtained from The Online Monitoring of the State Accounting Treasury System, the Ministry of Finance of the Republic of Indonesia. The descriptive and comparative analyses were employed in this study. The results of the research show that Economic level in 2017-2021 fiscal year utilisation felt into the economical category as shown by the percentage of budget realization was less than 100% (<100%). The effective level of achievement for non-tax state income realisation between 2017 and 2021 fiscal year felt into a very effective criteria with the effective ratio was 103.62%; while that for the expenditure felt into a sufficient effective criteria with an average effective ratio was 91.30%. Cost efficiency ratio/expenditure realization to achieve the maximum revenue in the period of 2017 – 2021 suits for a very efficient category with the ratio for each fiscal year was less than 19%; thus economical, efficient and effective implementation of State Revenue and Expenditure Budget must continue to be improved

Robert J. Walker: The History and Archaeology of a U.S. Coast Survey Steamship

Robert J. Walker: The History and Archaeology of a U.S. Coast Survey Steamship

Systematic Literature Review of Customs Fees Through Schools of Economic Thought and their Role in Supporting the State Treasury

The goal of this research is to look at a variety of pertinent publications in order to contrast custom duties with the function of the state treasury and develop future research issues. This article does a systematic review of the literature on custom duty research published during 1990 and 2023. The analysis takes use of Scopus data in addition to pertinent terms such as custom duties and the role of state treasury. This complete literature evaluation was selected from 537 articles. This research found that investing in customs duties is critical for assuring the prosperity of a nation. To enhance customs duties and the role of the state treasury, it is vital to concentrate on critical topics that will benefit the country's growth. Therefore, the role of the state treasury system and transparent customs duties are critical for the nation sustainable development. This work established seven research topics for future researchers following a review and analysis of the custom duty’s literature, enabling the research to be carried out.

Theoretical principles of digitalization of the treasury of Ukraine

Relevance of the research topic. The development and mastering of modern computer systems and their software open up wide opportunities for the treasury service to increase the effectiveness and efficiency of the functioning of the treasury system of servicing budgets at all levels, improving the quality of financial services provided by the treasury bodies, which determines the relevance of the topic of this study. Analysis of recent research and publications. Studies of issues related to the introduction of the latest information technologies, information support of the Treasury's needs with modern technologies were covered in the scientific literature by such scientists as V. M. Vdovin, G. A. Tytorenko, M. A. Abrosymova, T. B. Kublikova, E. I. Kurganska, Yu. O. Golynskyi, L. M. Lutsiv, O. O. Skoryk, O. M. Sevasteeva, L. Gordienko and others. However, despite existing scientific research, the issues of digitalization of the State Treasury Service of Ukraine do not lose their relevance and require further research. Highlighting unexplored parts of the general problem. Taking into account the constant transformation processes in the Treasury bodies, there are practically no scientific works devoted to the implementation of digitalization in the Treasury bodies. Setting the task, the goal of the research. The tasks of the study are to reveal the essence of the digitalization of the Treasury, tasks, goals and principles of digitalization. The purpose of the article is to study the theoretical foundations of the digitalization of Treasury bodies. Method or methodology of research. The article uses a set of scientific research methods: system approach, analysis, synthesis. Presentation of the main material. The essence and necessity of digitalization of activities of Treasury bodies is revealed. The tasks, principles and purpose of digitalization are determined. The analysis is carried out and the theoretical foundations of digitalization are defined. Field of application of results. The results of the study can be used in the process of forming a strategy for the digitalization of Treasury bodies. Conclusions from this study and prospects for further research in this direction. The validity of the theoretical foundations of the digitalization of the Treasury, with the determination of its purpose, tasks and principles, is a valid condition for the development of a strategy for the digitalization of the Treasury's bodies. In view of the transformational processes of the development of the treasury service of budget funds, the issues of new and improvement of the existing tools of standardization and optimization of advanced information technologies, aimed at the modernization and unification of treasury procedures, are significant and require further research.

Effectiveness of accrual basis accounting system in state budget and treasury system in TAM 3 framework

Purpose - This study establishes a basic theoretical model developed using Technology Acceptance Model (TAM 3) with several critical factors on the effectiveness of accrual basis accounting systems in the State Budget and the Treasury System.Method - This basic research uses a causal model with primary data collected quantitatively and presented descriptively. The study population was users of the State Budget and Treasury System in the Regional Office V of Jambi Province using the convenience sampling method.Result - The results of this study stated that all TAM variables were correlated with each other and TAM 3 variables were correlated with the effectiveness of the accrual-based accounting system in SPAN. It was proven that there was a significant relationship between all variables. However, the accrual-based accounting system in SPAN practically does not provide convenience and tends to have low intensity of use and low effectiveness.Implication - The result of this research states that all variables of TAM are correlated to each other and TAM 3 variables are correlated to the effectiveness of accrual basis accounting system in SPAN.Originality - This study focuses on the effectiveness of accrual basis accounting system in State Budget and Treasury System: migration of the Indonesian Islamic banking system of BSI.

The Impact of the Sanctions Policy of Unfriendly Countries on the Russian Financial System

In the context of unprecedented sanctions pressure, the author examined the current situation in Russian financial system analyzing the reasons for the current trends in the growth of public finances against the backdrop of a low growth in gross domestic product. The study identified main directions taken at the state level and discussed their consequences. The measures are the following: introduction of a financial policy to combat the «Dutch disease»; maximum openness of the Russian financial system for international finance; active policy of borrowing in international financial markets; improvement of tax administration and concentration of financial resources of budget organizations in the treasury system; development of a system to stimulate the demand of individuals, which forms «long money» in the economy and the consumer behavior of the population; formation of a financial center in Moscow; and imbalance of regional budgets. The aim of the study was to examine the financing of the regional economy in the context of EU and Anglo-Saxon sanctions. The author highlighted two unresolved problems: underestimation of the role of finance in economic growth and development of the regions and the problem of direct link of finance and reproduction. The paper analyzed the impact of sanctions against Russia on the functioning of the country's financial system as a whole and on the factors of production. The study revealed that a significant adjustment of the scientific paradigm of financing at the state and sub-federal levels is necessary to ensure economic growth and development of Russia.

Dampak implementasi Sistem Perbendaharaan dan Anggaran Negara terhadap kinerja pegawai: pengujian model unified theory of acceptance and use of technology generasi ketiga

The State Treasury and Budget System (SPAN) is one of digital electronic government (e-government) platforms which is implemented massively by the Government of the Republic of Indonesia as part of the development of the Integrated Financial Management Information System (IFMIS). Some studies to measure the acceptance and success model of the system implementation are mostly only focusing on user behavior parameters of information systems. These studies have not addressed the performance parameters. Within the eight-year implementation of SPAN, only few researchers conducted empirical studies to prove its impact on employee performance. The Unified Theory of Acceptance and Use of Technology (UTAUT) 3’rd Generation model is the next model for measuring the information system acceptance and success that links to various endogenous job performance variables. The model compares the increasing ability to use technology features (feature-level use), which results in the concept of transformational leadership to achieve performance. This study aims to prove the success of SPAN implementation using the UTAUT 3’rd Generation model which has been modified. The sampling method in this study used a survey with a questionnaire tool. The samples that were successfully obtained from 171 respondents who are officers in the Head Office of the Directorate General of Treasury, Regional Office of the Directorate General of Treasury, and KPPN throughout Indonesia. Hypothesis was tested with the Outer and Inner models Structural Equation Modelling (SEM) Partial Least Squares (PLS). The results of this study indicates that the variable feature-level use is proven to intervene the positive influence of facilitating conditions and behavioral intentions on job performance. The variable of habit has no effect on the feature-level use. The transformational leadership also has no moderate impact on habits and the feature-level use.

FRANCE'S EXPERIENCE IN IMPROVING THE TREASURY INFORMATION SYSTEM IN THE CONTEXT OF THE INTRODUCTION OF THE DIGITAL ECONOMY IN THE REPUBLIC OF UZBEKISTAN

This article discusses the need to introduce foreign experience in the field of the information system of the treasury of the Republic of Uzbekistan. The advantages of introducing foreign experience in the context of the introduction of the digital economy are noted. Questions about the shortcomings of the current state of the information system in the treasury are considered, as well as a number of reasons hindering the development of this area. Based on the analysis of the experience of foreign countries, especially the experience of France, a number of proposals are given by the co-authors to introduce a new mechanism for the operation of the treasury information system in the Republic of Uzbekistan in the context of the introduction of the digital economy. The digital economy is changing our socio-economic development of society in an unprecedented way, while creating both huge opportunities. New technologies can make an enormous contribution to the achievement of a country's sustainable economic development goals. However, obtaining positive results requires studying foreign experience. In order to unlock the full socio-economic potential of digital technologies, while avoiding undesirable consequences, it is necessary to strengthen international cooperation as soon as possible.

СОВЕРШЕНСТВОВАНИЕ МЕР СОЦИАЛЬНОЙ ПОДДЕРЖКИ НА ОСНОВЕ СОЗДАНИЯ ФОНДА ПЕНСИОННОГО И СОЦИАЛЬНОГО СТРАХОВАНИЯ РОССИЙСКОЙ ФЕДЕРАЦИИ И РАЗВИТИЯ СИСТЕМЫ СОЦИАЛЬНОГО КАЗНАЧЕЙСТВА

This article discusses the issues of improving social support measures based on the principle of targeting and the application of criteria of need and the effectiveness of state and municipal government. The methods of social support based on the use of extra-budgetary funds and digitalization platforms based on the Concept of digital and functional transformation of the social sphere, related to the field of activity of the Ministry of Labor and Social Protection of Russia, for the period up to 2025 are analyzed. The goals and methods of creating a unified Fund for pension and social insurance of the Russian Federation and its importance for the development of the social treasury system in Russia.

TREASURY FORM OF BUDGETS SERVICING OF UKRAINE IN THE CONTEXT OF ENSURING A BALANCED FINANCIAL POLICY

The article investigates the main problems of the treasury system of the execution of state and local budgets. The subject of the study is the treasury service of state and local budgets in the context of ensuring a balanced financial policy. The goal is to study how much the treasury service of budgets in Ukraine has changed over the past years. It is also worth to offer possible ways to improve the treasury service of budgets of different levels in the context of providing balanced financial policies. The study methodology involves the use of the following methods of empirical research methods (observation, comparison), methods of theoretical research (climbing from abstract to concrete), general methods used both on empirical and theoretical level of research (abstraction and concretization, analysis, synthesis, induction, deduction, analogy) and others. The systematization of literary sources and approaches to the treasury form of service of the budgets of Ukraine in the context of ensuring a balanced financial policy showed that most domestic scientists who dealt with this issue were considered separate areas of service of budgets. The relevance of solving this scientific problem is that the treasury form of service of the budgets of Ukraine is mainly considered technically, which in many cases does not allow it to apply it in the context of providing balanced financial policies as an effective tool for implementing the state policy. The results of the study are: the theoretical approach to the issues of treasury maintenance of budgets of different levels is considered; the interaction of the bodies of the State Treasury of Ukraine with budget funds and in the context of decentralization of power is investigated; the implementation of revenues and social expenditures of the State Budget of Ukraine is analyzed. The originality of the study, and this is its practical value, it has been proposed to improve the control over the expenditure of budget funds and the modernization of the qualitative level of service by the state treasury authorities. Research conclusions are as follows: empirically confirmed and theoretically proved that the existing prospects for improving the treasury form of service of the budgets of Ukraine in the context of ensuring a balanced financial policy. The results of the study may be useful for financiers-practitioners, representatives of academic circles, students, all who are interested in treasury budget service.

Accounting of Funds of Higher Education Institutions from the form of Payment-Contract in the Treasury System

The article examines the need for a treasury information system in public finance management in the digital economy and the importance of using software packages in the execution of the treasury budget. The analysis of off-budget funds on the accounts of higher educational institutions of the Republic of Uzbekistan and funds received from the contract form of education is carried out. The treasury system provides scientific proposals and practical recommendations for improving the accounting of funds received from payment contracts in higher education institutions.

Treasury Single Account and Fraud Management in Nigeria: Benefits and Challenges

Treasury systems are designed to manage several critical aspects of public expenditure management. Key treasury system functions include financial planning, control of the budgetary process and management of government cash flow. However, for any treasury system to be effective, government has to ensure that it has sufficient liquidity to deal with payments, while ensuring that such liquidity costs are kept within the barest minimum. TSA is a (system of) unified structure of government bank accounts enabling optimal utilization and consolidation of government cash resources. In TSA a bank account or a set of linked bank accounts is used for all government transactions all its receipts and payments and gets a consolidated view of its cash position at any given time. This study investigates Treasury Single Account (TSA) and Fraud Management: Benefits and Challenges in Nigeria. Adopting a survey design, the study made use of primary data collected mainly through administering a set of questionnaire to104employeesofselected three Corporate Affairs Commissions in South-East, Nigeria comprising Enugu, Imo and Abia.100copiesofthequestionnaireoutof the total number of retrieved copies of questionnaire were validly completed and useful for analyses. Findings interlaid revealed that: TSA significantly reduced the incidence of fraud in public enterprises; TSA in public enterprises to a large extent reduces the credit creation of deposit money banks. The study recommends that the TSA policy will be effective if, the Fiscal Sunshine Bill is to be put in place, and if enacted will open up all financial activities of government in a way that there will be no more hiding place for those who divert or loot government money. Just like the Fiscal Sunshine Act is in place with budgeting process, implementation and contract awards, should be open for Nigerians to see how both revenues are generated and how public money is being spent by those in government, and why; Government should overhaul the capacity of the Federal Ministry of Finance and the CBN in order to cope effectively with the challenges associated with enforcement of the provisions of the TSA.

The treasury system of Russia–2021: New development trends amid increasing budgetary constraints

Subject. The article focuses on institutional transformations in bodies of the Federal Treasury in adopting the treasury payment mechanism and treasury service. Objectives. I analyze the performance of the public finance system in Russia during the COVID-19 crisis, and identify steps of the institutional environment emergence so as to adopt the treasury payment system and treasury service. I also evaluate whether it is possible to ensure the balance of the federal budget and regional budgets in Russia by placing temporarily available funds when introducing the treasury payment mechanism and implementing the technology of the single treasury account. Methods. The study is based on the systems and institutional approaches. I also resorted to general methods, such as the analysis, synthesis, comparison. Results. The revenue of the federal budget was found to drop considerably due to the lower business activity in Russia and worldwide and a decrease in the demand and prices for strategic power resources. The article outlines steps of the institutional environment emergence to adopt the treasury payment system and treasury service. Additional income from the placement of temporarily available federal and regional funds was found to be insufficient to ensure the balance of the above budgets. Conclusions and Relevance. Going beyond the structural conservatism of the national economy will lower the public finance sustainability risks amid rapidly changing development challenges, including the COVID-19 that outbroke worldwide in 2020. The findings can be used for practical purposes by the Federal Treasury and other parties to the treasury payment systems so as to improve its performance.

International donors as enablers of institutional change in turbulent times?

PurposeThe purpose is to explore the role of international financial institutions (IFIs) during public financial management reform in a transitional economy. In particular, the study focuses on interaction between external enablers and local actors.Design/methodology/approachThe paper is based on a qualitative study of public financial management reform in Ukraine during 1991–2014. This period is divided into stages corresponding with two projects financed by the World Bank: “Treasury System” and “Public Finance Modernization.”FindingsFirst, IFIs supported a Ukrainian economy weakened by financial crisis and insisted on a comprehensive reform of public financial management to facilitate recovery. By strategically addressing local challenges, eliminating local uncertainties and maintaining stable interactions, IFIs gained support from the central government. Local actors continued the reform by negotiating with other actors and getting quorum support. In the second stage, IFIs could not implement planned changes. Even though the change was well-perceived at the beginning, developed tensions between local actors were overlooked by IFIs, which resulted in loss of commitment of the State Treasury representatives. The continuous political instability in Ukraine constrained interaction between IFIs and the Ministry of Finance and reduced political will for conducting reforms.Originality/valueThe study contributes to the debate on the adequacy of externally driven public management reforms in developing countries by exploring actions and interactions of global and local actors during the change in public sector practices.

Między wolnością a kryzysem. Sejm Rzeczypospolitej w dobie panowania Wettynów na polskim tronie w latach 1697–1763

During the Saxon period (1697–1763) the Sejm of the Polish-Lithuanian Commonwealth experienced an extremely serious crisis. The latter, however, did not come into being in 1697, but was a continuum of the inferior functioning of the Polish Parliament already during the previous years. In the course of the Saxon era this crisis grew more grievous as demonstrated by the intervention of foreign states (Russia, Prussia, the Empire, France, and partly Sweden) into the functioning of the Polish Parliament. The outcome assumed the form of a paralysis of the legislature, making it impossible to carry out indispensable reforms within the state. At the time of Augustus II the Strong (1697–1733) the Sejms partly fulfilled their function and were even capable of introducing order into the legal treasury system in Poland (e.g. the Silent Sejm in 1717), but during the reign of Augustus III (1734–63) the Sejm became the sole arena of the political struggle waged by the royal court and magnate factions, often supported by neighbouring countries. The symbol of the role played by this particular monarch was the solitary Sejm held at the time, which ended with the passage of a constitution (the pacification Sejm of 1736). Despite its decline the Sejm remained of considerable importance for the nobility of the modern era. Conceived as a symbol of the functioning of the state it was treated as pupilla libertatis, a personification of the sovereign existence of the state and an institution indispensable for reforming and modernising the country.