BAKU, Azerbaijan, December 30. The Collegium of the Ministry of Finance of Azerbaijan has approved "Rules of realization of financial operations through the state treasury and accounting of these operations", Trend reports.
The Minister of Finance of Azerbaijan Republic Samir Sharifov signed a new decision on the issue.
According to the new decision, the Ministry of Finance will create a "Green Corridor" system, which ensures the implementation of authorization powers for cash expenditure operations on several expenditures through special software to simplify financial operations on expenditures, the Ministry will determine the list of expenditures covered by the "Green Corridor" system.
This system will not apply to expenditures providing for payment of the cost of goods, works, or services based on a sales contract or a civil law contract by the law "On Public Procurement" or the Civil Code. The Ministry of Finance may, if necessary, limit the application of the "Green Corridor" system to expenses by assessing the risks arising.
The procedure for opening and closing budgetary treasury accounts, ensuring funds receipt into the state treasury, and financial operations related to expenditures are also defined. The details of treasury accounts will be 28 characters long, with the last three digits of administrative classification codes defined by unified budget classification taken into account; additionally, the Treasury Information Management System (TIMS) scope of application has been defined.
The TIMS operator inputs the income and expenditure estimates established by budget levels into the personal statements of the treasury accounts of bodies and institutions by January 10 of each year. The organization may make modifications to personal accounts within three working days, and the operator examines and authorizes these changes within two business days.
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