On September 24, chaired by the First Deputy Minister of Finance Denys Uliutin, the concluding meeting of the Steering Committee of the EU Project for Stronger Public Finance Systems of Local Governments (LOGICA) was held. During the meeting, the parties summed up the results of almost 3 years of work.
Project experts and representatives of the Ministry of Finance discussed the final report on the status of the Project implementation for each of the components.
"The Ministry of Finance is extremely grateful to the EU Delegation for the implementation of the LOGICA Project, and to the Project team for their expert support. For us, the reform of fiscal decentralization remains one of the priority areas of work and an important component of improving the public financial management system as a whole," said First Deputy Finance Minister Denys Uliutin in his statement.
One of the main results of the Project was the development of an information and analytical system "LOGICA", which aims to increase the level of automation of budget documents, data processing and information exchange between local budgets and the Ministry of Finance. The use of the system will significantly increase the analytical capacity in the public financial management sector at the local level.
Currently, the Ministry is ready to launch the replication of IAS "LOGICA", for which the appropriate funding was promptly allocated from the state budget so as not to waste time and properly use the results of the Project.
In addition, based on the results of the Project, priority areas for further development of the financial management system at the local level were identified. In particular, given the constant expansion of powers and resources of local authorities, and the need to ensure efficient use of taxpayers' funds and quality service delivery, full implementation of internal control and audit at the local level and development of a reform roadmap to ensure effective control over budget planning at the local level is an urgent issue for the Ministry of Finance.