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Day2 sp4 pres-washington_elettore_en

  1. 1. 7- 9 December 2015 Washington, DC, USA ICGFM winter training Conference Finance Minister CPA Ángel Mario Elettore Transparency Policy in the Public Management Finance Ministry/ Government of Cordoba Province
  2. 2. Number of Inhabitants: 3,657,654 Surface: 165,321 km² Density: 21,58 Inhabitants per km² GGP: U$S 30,564 million¹ GGP per capita: U$S 8,567 Budget: U$S 7,807 million¹ Cordoba Province in Figures Human capital education: high literacy rates(98.5%) and a high level in university education. (1) Source: Nominal GGP l 2014 published by the Directorate of Statistics and Census for Cordoba Province and average exchange rate in 2014. Córdoba represents 8.1% of the whole exports in the country.
  3. 3. Good Standing Organizational Transparency & Evolution Services to Citizens Environmental Management Laws of the New State Sustainability Policy Growth and Sustainability Policy The Fiscal Solvency Model underpins a Financially Sustainable State
  4. 4. Source: Investment/Savings Account, accrued financing each year 2003-2014 and over 2015 2nd quarter. Surplus economic outcomes helped balance accounts without implementing adjustments Fiscal Solvency in Figures 35 438 597 769 873 336 449 2.118 1,221 1,959 3,881 4,784 3,126 0 2,000 4,000 6,000 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015(II) Current Savings in AR$ million 14 250 220 239 167 23 -389 1,010 61 1,195 1,846 1,293 366 -1,000 -500 0 500 1,000 1,500 2,000 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015(II) Financial Outcome in AR$ million
  5. 5. Provincial tax resources increased their participation by +5% Source: Investment/Savings Account, accrued financing each year 2003-2014 and over 2015 2nd quarter. Tax management for a fiscal solvency 34% 33% 34% 33% 33% 38% 38% 38% 37% 40% 41% 39% 30% 35% 40% 45% 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015(II) Provincial taxes within the total tax revenue 66% 67% 66% 67% 67% 62% 62% 62% 63% 60% 59% 61% 50% 55% 60% 65% 70% 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015(II) National Taxes within the total tax revenue
  6. 6. Source: Investment/Savings Account, accrued financing each year 2003-2014 and over 2015 2nd quarter. Spending Management for Fiscal Solvency 3,286 4,923 9,055 13,904 24,203 31,889 44,583 27,766 0 8,000 16,000 24,000 32,000 40,000 48,000 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015(II) Ongoing Costs (in AR$ million) 138 254 480 630 856 743 1,235 1,937 2,054 1,579 2,987 4,950 3,535 0 1,000 2,000 3,000 4,000 5,000 6,000 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015(II) Capital Expenditure (in AR$ million)Continuity of the policy for public investment
  7. 7. ONGOING DEBT RELIEF IN THE PROVINCE Debt Stock (1) Source: Annex II to LRF as of June 2015. Average exchange rate for reference as of 2nd quarter 2015 based on Communication “A” 3500 of the Argentine Central Bank. The debt stock as of 2nd quarter 2015 amounts to USD 1,696 million(1) Debt Stock as a percentage of Total Revenues Debt Stock as a percentage of the provincial GGP
  8. 8. Sustainable Borrowing (1) Law 25.917 for Fiscal Responsibility . * Current revenues net of revenue sharing with municipalities of the Non Financial Public Administration . The model for Fiscal Solvency has helped keep a level of sustainable borrowing Debt services should not be over 15% of current revenues net of revenue sharing with municipalities, pursuant with the Law for Fiscal Responsibility. 5.5% 4,1% 4.0% 3.4% 10.4% 1.4% 1.3% 1.0% 15% 2013* 2014* 2015 2016 2017 2018 2019 2020 Relación Servicios Proyectados vs. Ingresos Proyectados Relación Deuda/Ingresos Corrientes netos de Coparticipación a Municipios Projected Services vs. Projected Revenues Ratio Relation between Debt/Current Revenues net of Sharing with Municipalities
  9. 9. International Financial Crisis Political structures need to provide answers Actions aimed at creating a more open and efficient Government, with the use of technology Goal: Recover Trust
  10. 10. IDB, Policy for Access to Public Information (2010) IMF, Manual for Fiscal Transparency and Good Practices Code (2001, last update 2007) Good PracticesChallenge: Generate Credibility & Trust Good Practices: a more open Government Commitment towards Transparency Open Government
  11. 11. Transparency as backbone Transparency as management approach Granted Recognition Consolidated through… New Technologies Legal Reforms Quality management
  12. 12. Regulatory Compendium for Finance Administration Issues Regulatory Compendium for Tax, Cadastral and Registry Issues Provincial Tax Code – Reorganization and Regulation Legal Reform Regime for Fiscal Responsibility (joined in 2004) Law for Financial Administration (passed in 2003) Works aimed at organizing and reinforcing the regulatory framework
  13. 13. Commitment to observe clear rules for fiscal behavior and to increase transparency in the public management Law No.9086 aims at guaranteeing the application of those principles of transparency, finance regularity, legality, cost- effectiveness, efficiency and effectiveness, as well as implementing modern accounting practices. Joining Regime for Fiscal Responsibility (2004) Passing of the Law for Financial Administration (2003) Legal Reform (Cont…)
  14. 14. Implied cutting down issued resolutions. Allowed showing all rules related to tax, cadastral and registry issues in a thorough, systematic and functional way . Compendio Normativo en materia Tributaria, Catastral y Registral Regulatory Compendium on Tax, Cadastral and Registry Issues Legal Reform (Cont…)
  15. 15. Implied the review and improvement of external processes, as well as incorporating internal procedures in all directorates reporting to the Secretariat for Finance Administration. Regulatory Compendium for Financial Administration Issues Legal Reform (Cont…)
  16. 16. Implied compiling, consolidating, reviewing, and analyzing provincials decrees while selecting those with tax contents, passed since 1952. Provincial Tax Code Reorganization and Regulation Legal Reform (Cont…)
  17. 17. Resolution 364/09 - Transparency Adoption of international standards for good practices and disclosure of reliable information Resolution 364/09 All agencies were tasked with improving transparency levels in published information The FINANCE MINISTRY granted legal formality to transparency policies
  18. 18. •Directorate General for Revenues: the first to be awarded quality certifications. They currently have 5 Certified Macro processes •Provincial General Registry: 5 Quality Certifications in HQs and Rio Cuarto. •Secretariat for Financial Administration: in 2014 all subsystems used by the Secretariat got Quality Certification. Córdoba is a pioneering province in reaching such an assurance. Quality Certifications
  19. 19. Subsidios y Ayudas entregadas Transparency: Transparency Portal Free access to Reliable Information, simplified search and access to information
  20. 20. Transparency: Government Revenue SharingCollection Enforcement Law for Fiscal Responsibility Salary Level Debt Budget BESIDES the WEB page, the Government also shows the following information
  21. 21. A key tool for Public Management Information on Revenues, Spending, Debt and Budget Friendly and summarized presentation of general contents of the Provincial Budget Created in 2013. Shows data from 2013, 2014 & 2015 Transparency: Citizen Budget Encourages and fosters the participation of citizens in all issues related to the public management
  22. 22. 2014 2014 Transparency: Audit Works 2012 & 2014 Public Debt Audit Córdoba Bursátil Trust Floating Debt Each audit work was conducted as at 30 September 2014 In line with the transparency policy the Finance Ministry has worked to issue an independent professional report on the present situation of the following processes:
  23. 23. 1° Budgetary Transparency Rate Córdoba leads 1° in Compliance with the Law for Fiscal Responsibility Córdoba leads 1° Fiscal Visibility Ranking 1°ISAGOL Ranking, e- government - Córdoba Leads Transparency Awards
  24. 24. Participation of the Finance Ministry in the “G4 Pioneers Program” Moreover: GRI Report In 2015 Cordoba published the THIRD SUSTAINABILITY REPORT report for 2013-2014. It provides information on day-to-day performance, focusing not only on economic impacts, but also on social and environmental ones
  25. 25. Paper Energy Recycling •Acquisition of multifunction photocopiers that help digitalizing documents •Newspapers and publications are no longer purchased •The consumption of paper reams has dropped by 55% since 2010 • The use of ink for printers was cut down by 20% last year •Continuity of the policy to extend the use of compressed gas in vehicles •Restructuring and modernization works in electrical systems • As a result, energy consumption dropped by 11% last year. •Unused IT equipment, furniture and office elements belonging to the institutions were donated to different organization. Over the last two years 200 pieces of furniture were donated Environmental Management

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