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“Standard and Poor’s” agency kept the international loan rating of Azerbaijan as stable in a special assessment***The Milli Majlis adopts a law on the execution of the state budget for 2016***Ministry of Finance recommends referring to official data in statements about IBA***

Information on the financial control measures taken by the State Financial Monitoring Service

Information on the financial control measures taken by the State Financial Monitoring Service

01.02.2017

The purposeful spending of funds allocated from the state budget for maintenance of the administrations of executive power heads of 5 districts (cities), renovation of districts (cities), capital and current repairs of roads, housing resources and buildings of budget organizations, territorial offices in cities (villages and settlements), to cleaning and landscaping service providers, as well as to 6 educational, 2 healthcare, 1 amelioration and water farm, 2 transport and 2 utility agencies, 1 diplomatic representation was controlled by the central office of the State Financial Monitoring Service of the Ministry of Finance of the Republic of Azerbaijan, and to budget organizations financed at local incomes and expenditures of cities and districts by the regional financial inspectorates in accordance with the work plan compiled on the basis of the outcomes of the risks assessment.
The return of an excess payment of 9,168.94 thousand manat to the state budget by the accused persons failing to comply with the requirements of normative legal acts regulating the spending of funds allocated from the state budget was ensured through inspections carried out by the central office and regional financial inspectorates of the State Financial Monitoring Service of the Ministry of Finance in 2016. Taking into account the seriousness of faults revealed through inspections conducted at the representation of Salyan District Executive Power at Garabaghly village administrative territorial unit, Aghjabedi district education department, Terter district education department and Zerdab district education department of the Ministry of Education of the Republic of Azerbaijan and Imishly district culture and tourism department of the Ministry of Culture and Tourism of the Republic of Azerbaijan, the inspection materials were sent to the Prosecutor General's Office of the Republic of Azerbaijan and inspection materials on 1 object of control were sent to the State Security Service of the Republic of Azerbaijan for legal assessment of the faults, class sets created and excess staff units maintained on various positions at secondary schools through violation of the requirements of the applicable regulatory legal acts were cancelled, as well as the continuation of other unjustified payments was suspended as those payments did not comply with the requirements of the regulatory legal acts.
In line with the above, the experts of the State Financial Monitoring Service verified the questions raised in the letters and decisions of the prosecuting authorities on 38 organizations in accordance with the letters of the Prosecutor General's Office of the Republic of Azerbaijan and cases of misappropriation totally amounting at 227,726.09 thousand manat were discovered and the inspection materials were sent to the Prosecutor General's Office of the Republic of Azerbaijan to take relevant measures with this respect.
In the reporting period, as well as according to the letter of the Ministry of Internal Affairs of the Republic of Azerbaijan, the State Financial Monitoring Service, in concert with employees of the Ministry of Emergency Situations and the Financial Market Supervision Chamber, continued the control measures started previously in relation with failure to comply with the requirements of effective legislation by the “International Bank of Azerbaijan” Open Joint-Stock Company in provision, use and return of loans allocated to individuals and legal entities, so far the control measures have been completed on the provision of loans to 63 legal entities and 156 individuals, as well as promissory note operations of 69 non-resident legal entities and the inspection materials were sent for legal assessment of the Ministry of Internal Affairs of the Republic of Azerbaijan.
Additionally, the return of 51.02 thousand manat of excess and unreasonable payments, which were discovered through inspections conducted at budget organizations by the State Financial Monitoring Service in previous periods, to the state budget was ensured in this reporting period.
Relevant protocols were drawn on officials, who allowed faults at budget organizations, based on the outcomes of inspections carried out during 2016 in accordance with the “Rules for documents on administrative violation cases reviewed by the Ministry of Internal Affairs of the Republic of Azerbaijan and their compilation”, financial penalties at amount of 616.1 thousand manat were imposed on 921 officials who committed the administrative violations specified in the provision 410.2 of the Code of Administrative Offences of the Republic of Azerbaijan and payment of the penalties was ensured to the state budget.
Letters were sent to the central executive authorities and the relevant local executive authorities to remove faults discovered as a result of the inspections and prevent such violations in other organizations, as well as to take measures on the officials accused of committing faults.