OSCE supports presentation of information and accounting system of Montenegrin Berane municipality

An OSCE-supported presentation on information and accounting system of Montenegro’s Berane municipality for 40 officials from the local secretariats of finance, chiefs of accounting in local governments and representatives of the Finance Ministry took place on 5 October 2016 in Podgorica.  

The OSCE Mission to Montenegro organized the event in co-operation with Montenegrin Union of Municipalities following the government’s decision to adopt a strategy for the transition of the public sector for accrual accounting, which established the obligation to complete this transition on the basis of the accounting records.

Svetomir Aković, Secretary for Finance and Economic Development of the Municipality of Berane, presented the new system and each segment of its operation. He informed the participants about the range of services and benefits the system is offering, including a unique scope of claims of local government, the way it works in provision of funds, requests for payment, settlement of obligations, partial payment of liabilities, payment schedule upon request and various forms of reports. Aković also emphasized the differences in experience of neighbouring countries, including EU members, in the accounts of public business.

Berane is the first Montenegrin municipality that developed a unique information-accounting system enabling simultaneous accounting records on modified-cash basis and accrual basis. For positive results in the recording of financial transactions at the local level, the "Best Practice in Local Government in Montenegro 2015” Programme presented the Municipality of Berane  a special award in the field of "Management of local public finance in order to create sustainable communities."