Republic of Serbia - Treasury Administration capacity building

The overall objective of the project is to improve the efficiency, effectiveness and transparency in the expenditure of public funds.

      Origin of funding

European Union (EU)


WYG (lider), Pkf, S.A.F.E.G.E.,

 Description of project


Aim of the project was to build sustainable capacities in the Treasury Administration and Debt Management Administration for : efficient budget execution, finacial planning, budget accounting, reporting and public debt and liquidity management.

INNOVA`s contract within this project included multiple tasks like :

  • providing operational legal framework for financial management system procedures (includin all relevant documents),
  • providning assess adjustments needed in existing FMIS and prospect for upgrade and developments,
  • setting up efficient financial planning and budget execution system,
  • facilitating Internal Business Processes Improvements,
  • improving data and document flows,
  • developing adequate budget execution reporting system,
  • increasing internal and external reporting capabilities,
  • building staff competencies in accounting and auditing procedures, and
  • developing a methodology for consolidated reporting on Public Sector, including harmonization with international statistical reporting framework ( ESA 95 and GFS 2000).