Treasury of the Republic of Cyprus


The main responsibility of the Accounting Services Sector of the Treasury of the Republic of Cyprus is to ensure the smooth and proper operation of the accounting system that is used across the whole of the Government.

Goals:
· To maintain a dependable accounting system, in order to support responsible fiscal and economic management.

· The prompt and correct fulfillment of all the obligations of the Government.

· The provision of prompt and valid economic and managerial information to the persons responsible for decision making, to the public, and to any other stakeholder.

· To maintain and continuously improve the internal control system and the financial management process of the Government.

Mission and responsibilities:

· Preparation of the Fiscal Report, which entails the recognition, calculation and presentation of the financial data on the basis of the actual receipts and payments, and submission of the Report within three months from the end of the relevant fiscal year to the Parliament according to the Constitution.

· Preparation of the Consolidated Financial Statements for the Whole of the Government.

· Supervision of the operation of the Financial Information and Management Accounting System (FIMAS) that is used by the Line Ministries / Departments / Services for recording the accounting transactions of the Government and for monitoring the Annual State Budget.

· Carrying out collections, payments, deposits and prepayments, as well as keeping and reconciling monthly statements of the General Government Account.

· Provision of financial information on a central and general government level, on a frequent basis and upon being asked by certain users, for example Line Ministries / Departments / Services, Parliament, the media, etc.)

· Provision of alternative solutions, such as the use of electronic means, to the citizens for the purpose of facilitating the collection of governmental revenue.

· Participation in the Technical Committee for Setting and Reviewing Fees and in the Technical Committee for the Write Off of Uncollectible Public Monies and Property.