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The document ceased to be valid since  January 1, 2017 according to article 2 of the Law of the Kyrgyz Republic of  May 16, 2016 No. 60

LAW OF THE KYRGYZ REPUBLIC

of May 28, 1994 No. 1553-XII

About basic provisions of Treasury of the Kyrgyz Republic

This Law determines the status of Treasury in the Ministry of Finance of the Kyrgyz Republic as main component of management of the budget and tax sphere of public authorities and local self-government and as the body playing the leading role in control over expenses and the income of the state, management of all money resources of the state, control of debt and assets of the state.

Chapter I. General provisions

Article 1. Treasury of the Kyrgyz Republic

1. The treasury is integral part of the Ministry of Finance of the Kyrgyz Republic. The director heads it. The treasury consists of the Central Treasury and its regional departments in the city of Bishkek, in areas and areas. The Minister of Finance of the Kyrgyz Republic determines the location, the staff list and the number of regional departments of Treasury. The regional department of Treasury is headed by the manager of Treasury.

2. The director of Treasury and all staff of the Central Treasury and managers of regional departments are appointed the Minister of Finance of the Kyrgyz Republic. All expenses of system of Treasury are financed from the republican budget.

3. Regional departments of Treasury report to the Central Treasury and are directly controlled by it. They maintain close contact with local branches of commercial banks and work in cooperation with local authorities of the government and self-government according to instructions of the Central Treasury.

4. The Central Treasury and its regional departments have seal with the image of the State Emblem of the Kyrgyz Republic and text "Treasury of the Ministry of Finance of the Kyrgyz Republic" in the Kyrgyz and Russian languages.

Article 2. Obligations and functions of Treasury

Fundamental obligations and functions of Treasury are:

a) control of execution republican and the local budgets approved by Jogorku Kenesh and local keneshes taking into account subsequent changes;

b) tracking of course of execution of budgets and submission of reports to the Minister of Finance of the Kyrgyz Republic and relevant organs of the government and local self-government about course of execution of budgets;

c) streamlining of system of bank servicing of the Government of the Kyrgyz Republic and control over all government bank accounts;

d) accumulation of all state money, including budgetary and extrabudgetary funds in national and foreign currency;

e) management and control of all cash flows, for timely implementation of the expenses approved by Jogorku Kenesh and local keneshes;

e) development of provisions on accounting of profitable and account transactions of the public authorities and local self-government happening both within the country, and abroad and control of their use;

g) management of the state assets, and also internal and external debt of the state and control of them;

h) development and maintaining classification system of the budget and the accounts conforming to international standards;

i) creation of the hierarchical chart of accounts of Treasury on the basis of method of double posting and according to classification system of the budget and accounts;

й) preparation of monthly and annual accounts of Treasury on transactions of republican and local authorities of management;

j) creation effective internal auditing auditnoy systems for ensuring proper account management on the state financial transactions and other documents of all republican and local state-financed organizations;

k) development of guidelines and other regulating documents of Treasury on conducting the state financial transactions, financial accounting, the state banking activities and internal audit;

l) computerization of transactions of Treasury.

Article 3. Publicity and reporting of transactions of Treasury

1. The treasury provides publicity and the reporting of all state financial transactions.

2. The annual statements prepared by Treasury under the republican budget are submitted for consideration of Jogorku Kenesh, and according to local budgets - local keneshes.

These reports, as well as other documents of Treasury, are available to the official audit provided by the law.

Chapter II. Consolidated fund of the Kyrgyz Republic

Article 4. Creation of the Consolidated fund of the Kyrgyz Republic

1. The treasury forms the Consolidated fund of the Kyrgyz Republic (further the Consolidated fund). All income and receipts of public authorities and local self-government go to the Consolidated fund. All settlement transactions of the republican and local organizations are performed from the Consolidated fund.

2. Money resources of the Consolidated fund are in National Bank of the Kyrgyz Republic on one current account (further the account of Treasury). The treasury has the right to open additional current accounts in National Bank for servicing of payments and receipts of such large state trust funds as, for example, Social fund. Remaining balance on such additional accounts is considered as integral part of the Consolidated fund and their account is kept as a part of the Consolidated fund. The treasury provides formation of such additional accounts only in exceptional cases.

3. Within six months after education the Treasury finishes closing of all types of bank accounts of the republican and local budgetary institutions in national currency which are in commercial banks and in National Bank of the Kyrgyz Republic. Remaining balance on these accounts will be transfered to account Treasuries. Any exceptions of this provision require reasons for legitimacy of these actions for the benefit of the state and confirmation of Treasury and approval of the Minister of Finance of the Kyrgyz Republic.

4. The treasury also closes all currency accounts of state-financed organizations and these resources go to the Consolidated fund.

5. Management of the Consolidated fund is exclusive prerogative of Treasury. The treasury also is account holder of Treasury and the additional accounts which are part of the Consolidated fund. Neither the National Bank of the Kyrgyz Republic, nor other organizations or persons have no right to make transactions on these accounts without orders of Treasury.

6. Any budgetary institution - republican or local, except as specified, strictly corresponding to the guidelines developed by Treasury has no powers on money withdrawal from the Consolidated fund.

Chapter III. System of bank servicing

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