Order Amending the Procedure for Treasury Servicing of Local Budgets, Clarifying Procedures for Managing Local Budget Funds and Interaction between Treasury Authorities and Local Financial Bodies.
Structurally, changes are being made to 18 chapters of the Procedure and relate to terminology, treasury servicing procedures, management of temporarily free local budget funds, reporting, and document flow. Key updates include replacing terms related to electronic document management and bringing them in line with current legislation.
Key important provisions:
• Clarified the procedure for aligning payment deduction standards between budgets of different levels
• Detailed the procedure for placing temporarily free local budget funds on deposits and in government securities
• Updated electronic document management procedures through the remote service system
• Clarified the procedure for local borrowing and local debt management
