IMPLEMENTING TREASURY
SINGLE ACCOUNT
Department of Education Workshop
CY 2014 Mid-Year Financial Reports
Butuan City
July 21-25, 2014
Outline
I.
PFM Reforms
II.
TSA Concept
III. Benefits
IV. Coverage & Stakeholders
V.
Electronic Transactions
TSA: Tungo sa masinop at mabisang pamamahala ng pondo ni Juan
Public Financial Management Reform
• Improvement of Treasury Cash Management
Operations
• Budget Reporting and Performance Standards
• GIFMIS Development
• Liability Management
• Capacity Building
• Accounting and Auditing Reforms
TSA: Tungo sa masinop at mabisang pamamahala ng pondo ni Juan
TSA
Executive Order
No. 55 (2011)
mandated the
implementation
of the
Government
Integrated
Financial
Management
Information
System and the
Treasury Single
Account
• A priority project under the Philippine
Public Financial Management Reform
Roadmap, the TSA is intended to
enable Government to consolidate
cash resources on a daily basis and
reduce borrowings currently
necessitated by perceived cash
shortages arising from holding so
many government bank accounts
and a fragmented system of
handling receipts and payments.
TSA: Tungo sa masinop at mabisang pamamahala ng pondo ni Juan
Concept: Treasury Single Account
• Treasury Single Account (TSA) refers to a bank account
with a set of linked accounts through which the
Government through the Treasury transacts all its receipts
and disbursements.
• It is an account maintained by the Treasury with the
Central Bank to account for (1) all receipts arising from
collection of taxes, duties, fees and charges, grants and
donations, proceeds of loans/borrowings, dividends, and
other miscellaneous receipts intended for special
purpose/s, and (2) servicing of loans/borrowings,
expenses, contributions and other related expenditures.
TSA: Tungo sa masinop at mabisang pamamahala ng pondo ni Juan
TSA
BENEFITS
• Greater clarity of fund flows
• Greater transparency in public
financial management
• Improved cash and debt
management
• Improvement of domestic financial
markets by increasing their liquidity
• Facilitating more accurate
accounting and improved reporting
• Reduced transaction costs while
increasing interest earned for
government
TSA: Tungo sa masinop at mabisang pamamahala ng pondo ni Juan
Coverage of TSA
• The TSA implementation covers the whole-of-government,
with initial implementation to National Government
Agencies under the Executive Department
• The TSA will cover all funds of the government held in
bank accounts
• Revenue/income
• Extra-budgetary funds
• Off-budget accounts (OBA) funds
• Multi or Bilateral Donor funds or ODAs
• Cash accounts
TSA: Tungo sa masinop at mabisang pamamahala ng pondo ni Juan
TSA
Stakeholders
Treasury
Central Bank
NGAs
KBs
Taxpayers
TSA: Tungo sa masinop at mabisang pamamahala ng pondo ni Juan
Information Systems for Receipts affecting
TSA
 BIR Electronic Filing and Payment System
(electronic/online transactions)
 BIR Limited Bank Data Entry System (over-the-counter
transactions)
 BOC Electronic to Mobile Customs System and BAP
Payment Application Secure System v5 (PASS5)
(electronic/online transactions)
 BTr National Collection System (over-the-counter
transactions)
TSA: Tungo sa masinop at mabisang pamamahala ng pondo ni Juan
Electronic Transactions to TSA
 Remittance by collecting banks of tax revenue (BIR/BOC)
collections to TSA is made through EFTIS
 Remittance by government depository banks for non-tax
revenue (all fees & charges due to NGAs) collections is
made through EFTIS
 Reporting to Treasury by collecting banks of tax revenue
collections and government depository banks for non-tax
revenue collections have shifted from manual reports to
electronic/online mode through the Treasury Reporting
and Monitoring System (TRAMS)
TSA: Tungo sa masinop at mabisang pamamahala ng pondo ni Juan
TSA PROCESS (RECEIPTS)
Collection
Taxpayer
F
U
N
D
S
AABs
NLT 10am NBD
Adjustments for
*checks/**over/under remittance
*Supporting docs to be submitted
within 15 days
** to be completed within 5 BD
from Collection Date
NCO
R
E
P
O
R
T
S
BTr HO
Viewing
Facility
BTr TSA
(BSP)
AGDBs
Bank Statement
LDC & DS
RIDD
NLT 2pm NBD
NCAD
TRAMS
TRAMS Collection Report .csv format
FVD
Notes:
NLT – Not Later Than
NBD – Next Banking Day
BTr
PO/RO
NCS
TSA: Tungo sa masinop at mabisang pamamahala ng pondo ni Juan
Disbursement under TSA
The Government implements a Modified Disbursement
Scheme for all its payment obligations.
1. MDS Checks (issuance of MDS checks by NGAs to
suppliers/payees for negotiation to MDS AGSB)
2. Advice to Debit Account (checkless payment, clearing
& settlement)
TSA: Tungo sa masinop at mabisang pamamahala ng pondo ni Juan
TSA Process (Disbursement)
Supplier
Spending
Agency
Budget
Office
Govt Servicing Bank
Supplier’s
Bank
TSA: Tungo sa masinop at mabisang pamamahala ng pondo ni Juan
Maraming salamat.
TSA: Tungo sa masinop at mabisang pamamahala ng pondo ni Juan