Barry Potter and Jack Diamond, 2000, Setting up Treasuries in the Baltics, Russia and Other Countries of the Former Soviet Union, IMF Ocasional Paper No. 198 (Washington: International Monetary Fund).
In some countries the term general ledger is used only to describe the financial accounts. In Kazakhstan, this term is used in a broader sense.
The final step, planned to be completed by 2003, is to close these and process local government payments through a joint single account for central and local government.
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SUs have to still process checks or electronic advices for salary payments through the treasury system and the salary expenditures are thus subject to budgetary control by the treasury.
Barry Potter and Jack Diamond, 2000, Setting up Treasuries in the Baltics, Russia and Other Countries of the Former Soviet Union, IMF Occasional Paper No. 198 (Washington: International Monetary Fund)
See “Information systems for government fiscal management”, A. Hashim and B. Allan, World Bank, 1999, and “Treasury reference model” Hashim and Allan, World Bank, 2001.
The main exception from this principle is the petroleum revenue-based national fund (NFRK). The problems this raises is discussed in detail in the recent ROSC fiscal transparency module.
OECD countries that have a stable economy, and where fiscal control already is firmly established, will generally put more emphasis on the objectives of allocative efficiency and cost-effective service delivery.