gfs course ch. 14 estp...gfs course ch. 14.2 4 edp table 2 table 2a 1. financial transactions...

GFS course ch. 14.2

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EDP TABLES

Ch. 14.2: EDP Tables 2 (A-D)

GFS training course 20121

EDP Table 2

EDP Tables 2 (A-D)

Link between ‘national’ definition of government deficit/surplus ¹


and

the net lending / net borrowing (EDP B.9) of each sub-sector

These tables are important for quality control

EDP Table 2

EDP Tables 2 (A-D)

Report the deficit for each government sub-


sector

but

do not report a single combined table for the government sector

GFS course ch. 14.2

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EDP Table 2

EDP Tables 2 (A-D)

Three broad types of adjustments from working balance to EDP B.9 :


- reclassification of transactions

- sub-sector delimitation and

- time of recording

– and -

- other adjustments

EDP Table 2

EDP Tables 2 (A-D)

EDP Tables 2A-D can be adapted to national specificity


but

keep the basic structure

EDP Table 2

EDP Table 2A

data which explain the transition between


the public accounts budget deficit – or working balance - and

the central government deficit/surplus¹

GFS course ch. 14.2

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EDP Table 2

TABLE 2A

the starting point is


the working balance in central government accounts

EDP Table 2

TABLE 2A

The starting line working balance


adjustments may be necessary

EDP B.9 of the central government

EDP Table 2 TABLE 2A

Adjustments:

- Financial transactions- Non-financial transactions not included in the working balance- Differences for accrual interest- Other accounts receivable- Other accounts payable

Diff f b l ifi i


- Differences for sub-sector classification: working balance for entities not part net borrowing/net lending of other central government bodies

- Other adjustments

GFS course ch. 14.2

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EDP Table 2

TABLE 2A

1. Financial transactions included in the working balance


Loans, granted (+) and Loans, repayments (-)

Equities, acquisition (+) and Equities, sales (-)

Other financial transactions (+/-)

- of which transactions in debt liabilities

EDP Table 2

TABLE 2A

Loans, granted (+)


, g ( )

(paid out to debtors)

Loans, repayments (-)

(repayments by debtors of loans granted by government)

EDP Table 2

TABLE 2A

Equities, acquisition (+)


Equities, sales (-)

If included in public accounts, remove

GFS course ch. 14.2

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EDP Table 2

TABLE 2A



a) Receipts from the issue of Treasury coins (segniorage)

b) Transfers from the central bank to central government

c) Issues and redemptions of debt instruments (F.3, F.4)

……...e.g.

EDP Table 2

TABLE 2A


a) Receipts from the issue of Treasury coins (seigniorage)


(seigniorage)

- any transaction in coins is a financial transaction in ESA terms- remove from the public accounts revenue

EDP Table 2

TABLE 2A


b) Transfers from the central bank to central government


government

- should be treated as a financial transaction

- removed from public accounts revenue

GFS course ch. 14.2

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EDP Table 2

TABLE 2A


c) Issues and redemptions of debt securities


- should be recorded as financial transactions in ESA terms

- are removed from the public accounts figures

EDP Table 2

TABLE 2A

2. Non-financial transactions not included in the working balance

depends on the basis of the working balance


depends on the basis of the working balancee.g. is expenditure on capital formation included?

EDP Table 2

TABLE 2A

3. Difference between interest paid (+) and interest accrued (-) (EDP D.41)

GFS COURSE Chapter 14.218

Shows the difference between

interest recorded in public accounts (+)and interest accrued (-) (EDP D.41)

18GFS training course 2012

GFS course ch. 14.2

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EDP Table 2

TABLE 2A

3. Difference between interest paid (+) and interest accrued (EDP D.41) (-)

) Z b d d t bill


a) Zero-coupon bonds and treasury bills

b) Bonds issued at a discount / premium

c) Instruments with capitalised interest

d) Repurchase of debt

EDP Table 2

TABLE 2A

4. Other accounts receivable (+) and Other accounts payable (-)


the time of recording used in public accounts

(often) differs from

the time of recording requested by the national accounts

EDP Table 2

TABLE 2A

Two other types of adjustments to derive the central government EDP B.9:


5 & 6. adjustments for the ESA 95 definition of central government

and

7. other adjustments

GFS course ch. 14.2

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EDP Table 2

TABLE 2A

Adjustments for the ESA 95 definition of central government


5. working balance (+/-) of entities not part of central government

6. Net borrowing (-) or net lending (+) of other central government bodies

EDP Table 2

TABLE 2A

6. Other adjustments

a) Debt cancellationb) Debt assumption


b) Debt assumption

c) Leasing

d) Balance sheet item included in the public accounts

e) Adjustments for transfers from EU Institutions

f) Any other adjustments

EDP Table 2

TABLES 2B, 2C, 2D

Provision of the data which explain the transition between


the working balances and

the sub-sectors government deficit/surplus (other than central government)

GFS course ch. 14.2

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EDP Table 2

TABLE 2B: ‘state government’




the state government deficit/surplus

EDP Table 2

TABLE 2C: ‘local government’




the local government deficit/surplus

EDP Table 2

TABLE 2D: ‘social security funds’




the social security funds deficit/surplus

GFS course ch. 14.2

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EDP Table 2

TABLE 2B, 2C, 2D

The starting point is

the most suitable working balance in


the most suitable working balance in

sub-sector government accounts¹

TABLE 2B, 2C, 2D

Adjustments to the starting point:

1. Financial transactions considered in the working balance

2. Non-financial transactions not included in the working balance

3. Difference between interest paid (+) and accrued (-) (EDP D41)

EDP Table 2


4. Other accounts receivable (+)

5. Other accounts payable (-)

6. Adjustment for sub-sector delimitation: working balance for entities not part net borrowing/net lending of other bodies

7. Other adjustments (+/-)

gfs course ch. 14 estp...gfs course ch. 14.2 4 edp table 2 table 2a 1. financial transactions...

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