ORDER OF THE GOVERNMENT OF THE REPUBLIC OF MOLDOVA

of January 17, 2018 No. 56

About approval of the Regulations on financial monitoring of public bodies on self-government, the state/municipal companies and commercial societies with completely or mainly the public capital

According to provisions of article 21 of the Law No. 121-XVI of May 4, 2007 on management of public property and its privatization (The official monitor of the Republic of Moldova, 2007, Art. No. 90-93, 401), with subsequent changes and amendments, and parts (1) article 76 of the Law No. 181 of July 25, 2014 on public finance and budget and tax responsibility (The official monitor of the Republic of Moldova, 2014, Art. No. 223-230, 519), with subsequent changes and amendments, DECIDES: the Government

1. Approve Regulations on financial monitoring of public bodies on self-government, the state/municipal companies and commercial societies with completely or mainly the public capital it (is applied).

2. Declare invalid the Order of the Government No. 875 of October 21, 2014. "About approval of the Regulations on financial monitoring of the state/municipal companies and commercial societies with completely or mainly the public capital" (The official monitor of the Republic of Moldova, 2014, Art. No. 319-324, 936), with subsequent changes.

Approved by the Order of the Government of the Republic of Moldova of January 17, 2018 No. 56

Regulations on financial monitoring of public bodies on self-government, the state/municipal companies and commercial societies with completely or mainly the public capital

I. General provisions

1. This Provision establishes procedure for the organization and carrying out financial monitoring of public bodies on self-government, the state/municipal companies and commercial societies with completely or mainly the public capital, processings and uses of information of o of their financial and economic activities for the purpose of consolidation of financial discipline and increase in efficiency of use of public property by the public bodies which are responsible for its administration.

2. The purpose of financial monitoring is assessment and the analysis of the budget and tax risks correlated to financial and economic activities of the state/municipal companies and commercial societies with completely or mainly the public capital which can significantly affect budget and tax situation, and also the analysis of condition of property of public bodies on self-government.

3. Financial monitoring of activities of public bodies on self-government, the state companies and commercial societies with completely or mainly the state capital is performed by the Ministry of Finance, and activities of the municipal companies and commercial societies with the capital, completely or mainly to the belonging administrative and territorial units – bodies of local public authority.

4. For the purpose of this provision the basic concepts mean the following:

subjects – public bodies on self-government, except for the bodies responsible it is exclusive before Parliament, the state / municipal companies and commercial societies with completely or mainly the public capital;

competent authorities of the public power - the Ministry of Economy and Infrastructure, the Agency of public property subordinated to the Government (further – the Agency of public property), bodies of local public authority;

financial monitoring – selection process, processings and the analysis of indicators of financial and economic activities of subjects;

assessment – the element of financial monitoring consisting in determination of results of activities of subjects, reflection of the main indicators allowing to create general idea about their financial and economic situation, and also in determination of influence of these indicators on activities of subjects.

II. Organization of activities for financial monitoring

5. Financial monitoring is performed on basis:

1) financial statements and statistic reports of the subjects submitted by Service of financial situations under National bureau of statistics according to the annual Program of statistical works and, if necessary, public bodies on self-government;

2) the reports on size and movement of public property provided according to Item 1-1 of the Order of the Government No. 568 of May 6, 2008. "About the organization of accounting of public property, its movement and execution of functions by persons, representatives to represent the interests государства/административно-территориальной units", as necessary;

3) information on public property of the subjects registered in the Register of public property, the public property provided by the Agency at the request of the body performing financial monitoring, but no later than May 20 of the year following after accounting year;

4) information on the tax liabilities (added, the repaid and allowed debts), and also about tax releases (privileges), the provided State Tax Administration at the request of the body performing financial monitoring, but no later than 50 days after the termination of reporting quarter;

5) information on debts of subjects which monitoring is performed by the Ministry of Finance according to the Law No. 419-XVI of December 22, 2006 on debt of the public sector, the state guarantees and the state recrediting, represented on demand, but no later than 40 days after the termination of reporting quarter;

6) information on securities: about stock and off-exchange exchange transactions with government securities and the additional share issues registered in the State register of securities, the provided National commission on the financial market and, if necessary, by professional participants and issuers of the security market at the request of the body performing financial monitoring, but no later than April 15 of the year following after accounting year.

6. The agency of public property represents to the Ministry of Finance annually, to the terms established by the subitem 3) of Item 5, information on earlier established performance indicators of financial and economic activities of the state companies and commercial societies with completely or mainly the state capital and also about the level of their accomplishment.

7. In the course of the organization of activities for financial monitoring also other relevant information concerning activities of subjects is used.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info