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Arrears higher than declarations, only 25% of invoices are registered on time

2024-08-07 10:55:29Biznes SHKRUAR NGA REDAKSIA VOX

Arrears higher than declarations, only 25% of invoices are registered on time

The government's outstanding liabilities to third parties are much higher than the periodic reports of the Ministry of Finance.

The General Directorate of Internal Public Financial Control and Financial Reporting in the Ministry of Finance, in the activity report for the year 2023, evidenced that most public institutions do not deliver the invoices of overdue obligations to the treasury on time.

"Invoices of arrears have been sent on time to the relevant branch of the treasury for registration in SIFQ as expenses of future periods (economic account 486)" is another indicator analyzed by the structure responsible for the treasury.

"Regarding this indicator, we emphasize that there is no data for most of the institutions, evaluating the indicator at a low level with 1 point out of 4 possible points (or 25%), refers the Directorate of Financial Control in the Ministry of Finances.

Institutions have worsened the timely reporting of liabilities in recent years. For example, in 2019, the Directorate of Internal Public Financial Control, under the Ministry of Finance and Economy, revealed that over 46% of overdue invoices were not accounted for within 30 days in the Treasury system (SIFQ).

At that time, this directorate raised the red alarm, considering the creation of arrears as a high risk. The audit process revealed that the creation of obligations came from the malfunctioning of the entire chain, from the planning process to the use of funds, as their accumulation has gotten out of control, mainly due to insufficient management capacities.

But since 2019, where 46% of the debt invoices were registered in the treasury in 2023, only 25% of them were registered.

The Ministry of Finance reported that at the end of May 2024 the stock of arrears from all public entities was 11.5 billion ALL or 3.6 billion ALL higher than at the end of December, but meanwhile only the Minister of Infrastructure reports that in the four months the first of 2024 estimates 7.6 billion new liabilities.

Sources from the Treasury Directorate at the Ministry of Finance explained that arrears are mainly created by four main reasons.

First, in some cases, investment contracts are realized beyond budget forecasts. Second, contracting authorities change the destination of funds from one project to another.

Often, the new project has greater financing needs and becomes a cause for the accumulation of obligations.

Thirdly, the fact that 70% of the funds for investment or maintenance were allocated in the last two months remains problematic in terms of the creation of obligations.

Fourth, the contracting authorities suffer from a low level of management, explained the source from the Treasury Directorate./MONITOR


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