The Republic of Abkhazia this year made an important step in the development of advanced information technologies for state needs. The modernization of the automated system for managing the budgetary process of the Republic of Abkhazia (ACSMS RA) was carried out, significantly expanding the functionality of the system. Such mechanisms were successfully introduced as drawing up and maintaining a cash plan for the execution of the republican budget, keeping and recording monetary obligations of recipients of funds by the treasury authorities.
The most important block, put into operation this year, was the treasury support of operations with funds of legal entities and individuals. The introduction and subsequent use of treasury support completely excludes the alienation of funds for needs that are not related to the goals of the execution of government contracts.
The RA ACS was created and implemented by Finkomm together with its partner Keysystems in 2016. This ACS implements the most modern technologies for the execution of the republican and local budgets of Abkhazia. Over the past five years, the system has proven its high efficiency and has now covered the entire budgetary system of the country with its digital presence.
Minister of Finance of the Republic of Abkhazia Vladimir Delba (right) and General Director of the Finkomm company Konstantin Korolev (left) at the presentation of commemorative awards for the fifth anniversary of the Treasury of the Republic of Abkhazia
The Treasury Department serves more than 400 budget organizations, for this, almost a thousand personal accounts have been opened. These are personal accounts, managers, recipients, administrators and funding sources. On these personal accounts, several thousand transactions are performed daily. All these operations in the Treasury Department go through the appropriate stages of control, are processed, systematized and at the end of the operating day are provided as reports to the recipients of budget funds, revenue administrators and financial authorities. Any movement, whether it be the receipt or expenditure of state budget funds, as well as the presence of their account balances, are available in real time.
This year, the Treasury Department of the Ministry of Finance of the Republic of Abkhazia celebrated its fifth anniversary. The Ministry of Finance approached this date as a highly efficient department equipped with the most effective mechanism for managing the state finances, in fact, the only department of the republic using the most advanced automation tools. In terms of coverage of automated functions and manufacturability, the Ministry of Finance of the Republic of Abkhazia is not inferior to the financial authorities of Russia and most financial departments of foreign countries.