The State Treasury finds solutions to achieve the goal of a Digital Treasury

This morning , in Hanoi, the State Treasury (Treasury) coordinated with the International Monetary Fund (IMF) to organize a workshop on “Risk-based spending control and building a modern spending control framework according to State Treasury development strategy until 2030”.

This workshop aims to exchange, discuss, and thoroughly evaluate the construction of a modern spending control framework with the goal of digitizing spending control, and with consultation from international experts and experts. science to ensure compliance with the general trend and the Strategy of the Finance sector until 2030.

Solutions to digitalize expenditure control were hotly discussed at the conference

Innovate processes

At the Conference, international and Vietnamese experts presented topics and shared many international experiences and practices on controlling state budget expenditure commitments, including the following contents: (1) Report on assessment of state budget expenditures. IMF’s assessment of the control of state budget spending commitments, the control of state budget expenditures through the Vietnam State Treasury; international experience and (2) Recommendations and suggestions of IMF experts; IMF report on the contents of the State Treasury Development Strategy to 2030. This is an area that the State Treasury is very interested in, especially in the context of implementing the State Treasury Development Strategy to 2030, the State Treasury with With the goal of becoming a digital Treasury, expenditure control operations also changed strongly following the general trend with 03 directions: Innovating expenditure commitments; Implement digitalization of the audit process; Transform expenditure control from “pre-audit” to “post-audit”.

A report from the State Treasury said that currently the system is controlling budget expenditures for more than 120,000 budget-using units across the country, with more than 640,000 transaction accounts and more than 30 million transactions. born every year. To date, more than 99% of State budget expenditure documents have been sent to the Treasury electronically through the industry’s online public service, helping to save time and costs for budget-using units. books and trading customers.

Mr. Suhas Joshi – Regional Advisor on the State Treasury of the IMF, also highly appreciated the results achieved by the State Treasury in controlling budget expenditures recently. However, IMF experts assess that expenditure control only stops at the electronic level, meaning document control is mainly based on photocopies of original documents from budget-using units.

Experts from the IMF also shared at the Workshop experiences on modern expenditure management in a number of developed countries; Propose recommendations for the State Treasury and the Ministry of Finance to improve mechanisms and policies on modern expenditure control according to good international practices.

Conversion to facilitate units

Deputy General Director of the State Treasury Nguyen Manh Cuong said that the contributions of experts to the IMF, ministries, central branches and local State Treasuries in implementing estimates and controlling expenditures based on output results is extremely valuable.

Deputy General Director of the State Treasury Nguyen Manh Cuong said that in order to digitize the work of controlling state budget expenditures, stronger involvement of relevant parties is needed.

In the immediate future, the State Treasury will perfect its business processes towards electronicization (such as making automatic payments for low-risk expenses…), using information technology applications in operations. Professional activities, participation in connection and data sharing with central and local ministries in expenditure control work.

In the coming time , the State Treasury will report to the Ministry of Finance to propose that the Government report to the National Assembly to amend the State Budget Law, the Accounting Law and guiding Decrees to create an appropriate legal corridor. At the same time, the State Treasury upgraded and improved the information technology system to meet the requirements of providing in-depth public services (upgrading the Tabmis system to a VDBAS system for interconnection between budget-using units, State Treasury, ministries, central and local agencies).

To improve the quality and effectiveness of budget expenditure control, Mr. Nguyen Manh Cuong said that he will continue to digitalize the control of payment of budget expenditures through the Treasury, thereby creating favorable conditions for budget expenditures. Budget-using units and transaction customers, sharing and interoperating digital data throughout the entire budget spending process, ensuring efficiency, transparency, and openness in the management and use of the State budget . Along with that is risk-based control, increased inspection, and checking of cases showing signs of violation.

The representative of the State Treasury also commented that in order to digitize the work of controlling state budget expenditures, stronger participation of relevant parties is needed, from ministries, branches, localities to each individual unit. budget user. For example, budget-using units need to widely deploy electronic contracts, and interoperate and share data to effectively digitize records and documents, from which the Treasury has a basis. digitize expenditure control work. Regarding this content, finance and budget experts propose that the Government amend the Decree regulating the management, payment and settlement of public investment capital in the direction: Legal documents as a basis for expense control are electronic contracts. (replacing the current paper contract), the completed volume payment record is an electronic completed volume value determination…/.

Source Financial magazine https://www.mof.gov.vn/webcenter/portal/btcvn/pages_r/l/tin-bo-tai-chinh?dDocName=MOFUCM290170