Development of treasury management of public procurement: problems and prospects

The subject of this study is the legal norms contained in legislation, other legal acts, as well as materials of law enforcement practice regulating the process of treasury management of budgetary funds. This article also analyzes the experience of legal regulation of the mechanism of treasury management of budgetary funds during public procurement, examines the gaps in budget legislation directly related to the topic under consideration.The purpose of this article is to consider the problems and prospects of the development of the Institute of the Federal Treasury in the Russian Federation. The reason for this study was multiple scientific discussions, which caused an ambiguous reaction from the legal community of Russia. The gaps in the budget legislation directly related to the topic under consideration are considered.The methodology. General scientific methods were applied in the framework of comparative, logical and statistical research and analysis of law enforcement and judicial practice in the field of treasury management of budget funds.The main results. A number of issues related to the chosen topic were considered. First of all, it is necessary to understand how the legal regulation of treasury management of budgetary funds is carried out. The form of legal regulation of treasury management differed from other forms and instruments of control the norms on treasury management were established annually by the federal law on the federal budget and acts of the Russian Government, Russian Ministry of Finance and the Federal Treasury adopted in pursuance of this federal law. Secondly, it is worth noting how the procedure for treasury management of budgetary funds during public procurement is built. The mechanism of treasury management provides for operations on personal accounts opened in the Federal Treasury with funds received from the relevant budget in the form of subsidies and budget investments, as well as funds directed to the execution of government contracts, contracts, the sourceof financing of which is the budget of the budgetary system of the Russian Federation. Thirdly, it is necessary to understand what prospects the institute of treasury management of public procurement has. Trends in the development of the institute of treasury management show that quantitative parameters will grow, including due to the use of "extended" treasury management and due to the spread of technological solutions to the level of subjects of the Russian Federation and municipalities.Conclusions. Treasury management of budgetary funds during public procurement is a new institution of budget law, a comprehensive budgetary and legal instrument of public administration, which is used at the stage of budget execution for expenditures to exercise financial control over the public procurement, contracts with legal entities and sole proprietors who are not participants in the budget process. In addition, treasury management is a tool with sufficient elasticity and relative "versatility". At its core, it allows you to strengthen control over the targeted and effective use of budget funds, ensure transparency and openness of procurement procedures and execution of state contracts; reduce unscrupulous suppliers in the chain of co-executors while ensuring proper execution of the state contract; increase financial discipline of the parties to the contract. It is also worth noting that treasury management minimizes some of the risks inherent in the use process. This institution should be considered as a system element in a larger mechanism of budget monitoring.

Management of Cash Flows during Covid-19

Any company, regardless of size or field of activity, can face several strategic and tactical challenges, especially when there are sudden economic changes, caused by emergencies and unexpected events, such as Covid-19. In order to adapt to ever-changing circumstances and opportunities, many companies are forced to make fundamental changes to their strategies and pay more attention to treasury management in order to achieve sustainable development.

Estrategias de gestión de tesorería en las pequeñas y medianas empresas del sector petroquímico

La investigación tuvo como objetivo analizar las estrategias de gestión de tesorería en las pequeñas y medianas empresas del sector petroquímico. La misma fue sustentada con una metodología de tipo descriptiva, bajo un diseño no experimental, transeccional y de campo. La población quedo constituida por seis empresas, vigentes y en ejecución dentro del complejo petroquímico del municipio Miranda. Para la recolección de la información se utilizó un instrumento, tipo cuestionario, conformado por trece ítems, con cinco opciones de respuestas. Para su validez se sometió al juicio de expertos. Para la confiabilidad, se empleó el Método Alfa de Cronbach, obteniéndose 0,96. Se tabularon los datos procediendo al análisis cuantitativo de frecuencias absolutas y relativas. Se resalta que los indicadores: flujo de cobros, flujo de pagos, posición fecha valor, previsiones de tesorería y funciones del tesorero se posicionaron en muy alta aplicación; sólo los depósitos a plazo fijo ostentaron alta aplicación. ABSTRACT The research aimed to analyze treasury management strategies in small and medium-sized companies in the petrochemical sector. It was supported by a descriptive methodology, under a non-experimental, transectional and field design. The population was made up of six companies, in force and in execution within the petrochemical complex of the Miranda municipality. To collect the information, an instrument, questionnaire type, consisting of thirteen items, with five response options was used. For its validity, it was submitted to expert judgment. For reliability, the Cronbach's Alpha Method was used, obtaining 0.96. The data were tabulated proceeding to the quantitative analysis of absolute and relative frequencies. It is highlighted that the indicators: collection flow, payment flow, value date position, treasury forecasts and treasurer functions were positioned in very high application; only fixed-term deposits held high application.

How to Lose (and Regain) 3.6 Billion Euros

This chapter imagines a conversation between two senior civil servants when they realize that the Irish government has lost 3.6 billion euros through a spreadsheet error. The Assistant Secretary of the Department of Finance reports to the General Secretary that the accountant was not sure how to classify a loan to the Housing Finance Agency (HFA) from the National Treasury Management Agency (NTMA). They had assumed that it might be adjusted for elsewhere in the General Government Debt calculations, but it was not. As such, the government debt appears twice in the national accounts, once as an asset for the NTMA and once as a liability for the HFA. The General Secretary then asks why the data entry error was not picked up. The Assistant Secretary answers that everybody assumed that somebody else had dealt with it. The accounts got returned, nobody spotted the mistake, and everyone moved onto to other tasks.

The Portuguese Royal Treasury: management, taxation and accounts control in the Johannine period (from 1814 to 1820)

In November 1807, Napoleon Bonaparte's troops were about to invade Portugal. To escape, the Queen of Portugal, Maria I, her son, future King Juan VI, Prince Regent at the time, as well as civilians and military men, had to embark and move to Brazil urgently. The transfer of the Portuguese court to Brazil transformed the then colony of Portugal into the seat of the Portuguese monarchy, giving the country a significant role in the economic, social, and political issues of the Portuguese Empire, between 1808 and 1821. Among the changes made by the Portuguese Crown in Brazil in the process of reorganization of the State apparatus, we highlight the creation of the Royal Treasury, similar to the one existing in Lisbon since 1761, which was responsible for the collection and accounting entries of the income generated throughout the Portuguese domain. This paper examines the balance sheets of the ledger book of the 2nd Royal Treasury General Accountancy from 1814 to 1820, based on historical and documentary research conducted in the collections of the Brazilian National Archive. The purpose of this study is to analyze the quality of the accounting information recorded in the annual balance sheets, comparing it across different periods and determining its functionality as a tax control tool. The paper contributes to the literature with information on this special historical period in which Rio de Janeiro provisionally became the capital of the Portuguese Kingdom, maintaining a vital role in the political, economic, and social context of the time. The results of the study enable us to infer the economic conception of fiscal control that the Royal Treasury exercised in its administrative and accounting organization, showing the role played by accounting in the management of the Portuguese Royal House, given that accounting records reveal the ascendancy of the environment over accounting and the influence of accounting on the environment.

Regional Treasury: problems of managing property and financial assets

The article deals with a range of issues related to the formation and development of the institutional environment for managing the state (municipal) Treasury. As a result of the research, three models of regional Treasury management were identified. The article describes their characteristics in the context of property and financial assets and their management mechanisms. The article considers the aspect of effective management of the state (municipal) Treasury from the point of view of the level of development of the institutional environment.

The Constitutional Law Research Trends and Plagiarism Problem in State Islamic University

The objective of this research was to find out research trend in constitutional law area as well to map research procedures in the said area and its projection in the future. Bibliometric analysis was applied, using 80 theses as sample from constitutional law bachelor degree student theses data base, with time range from 2013 to 2017. The research result shows that the Constitutional Law students gave extra preference to legislation studies rather that other subject. In methodological matters, the trend shows that most of research used descriptive methodology (45%) and only few utilized comparative methods (6%). At least 41 concepts were chosen by the students, with top four concepts are the enactment of regulations, the implementing regulations of Acts, the local government regulations, and the enactment of an article. The less chosen concepts are international law/regulations and state treasury management. From research originality aspect, by using Turnitin application, there are 28 theses that have similarity indication with previous researches (with various typologies) and 52 theses are acceptable.