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Treasury management Financial management of projects Treasury management Financial management of projects

TRAINING'S OBJECTIVE The participant will be able to manage treasury throughout the project while TRAINING'S OBJECTIVE The participant will be able to manage treasury throughout the project while respecting the procedures in force at BTC; he/she will be able: • Explain the importance of treasury management • • • Explain the financing mode of BTC and its projects Manage the cash call process Explain the different payment modes used at BTC Manage the banking accounts Manage the petty cash accounts Gestion de trésorerie Avril 2010 ‹#›

1 OBJECTIVES OF TREASURY MANAGEMENT • Ensure funds are available • Minimize the resources 1 OBJECTIVES OF TREASURY MANAGEMENT • Ensure funds are available • Minimize the resources on project accounts. Limit the risks • Minimize the costs of transfers and banking costs • Ensure the timely availability of the information about banking balances and transactions • Ensure a smooths and secure process of payments Gestion de trésorerie Avril 2010 ‹#›

TRAINING'S OBJECTIVE The participant will be able to manage treasury throughout the project while TRAINING'S OBJECTIVE The participant will be able to manage treasury throughout the project while respecting the procedures in force at BTC; he/she will be able: • Explain the importance of treasury management. Explain the financing mode of BTC and its projects Explain • • Manage the cash call process Explain the different payment modes used at BTC Manage the banking accounts Manage the petty cash accounts Gestion de trésorerie Avril 2010 ‹#›

2 FINANCING BTC AND PROJECTS Financing of BTC • BTC receives financial resources from 2 FINANCING BTC AND PROJECTS Financing of BTC • BTC receives financial resources from the Belgian state on the basis of the approved budget Gestion de trésorerie Avril 2010 ‹#›

2 FINANCING BTC AND PROJECTS Financing projects • First transfer after Implementation Agreement (CMO) 2 FINANCING BTC AND PROJECTS Financing projects • First transfer after Implementation Agreement (CMO) is signed (start-up cash call) • On the basis of cash call • Quarterly call and transfer of funds • Synchronisation between input and output flows • 4 tranches: each quarter • Projects for other donors: defined in the contract Gestion de trésorerie Avril 2010 ‹#›

TRAINING'S OBJECTIVE The participant will be able to manage treasury throughout the project while TRAINING'S OBJECTIVE The participant will be able to manage treasury throughout the project while respecting the procedures in force at BTC; he/she will be able: • Explain the importance of treasury management. Explain the financing mode of BTC and its projects • Manage the cash call process • Explain the different payment modes used at BTC • Manage the banking accounts • Manage the petty cash accounts Gestion de trésorerie Avril 2010 ‹#›

3 CASH CALL 3. 1 Sum Calculation • Available balance on the accounts (banking 3 CASH CALL 3. 1 Sum Calculation • Available balance on the accounts (banking accounts and petty cash) • Financial planning of local expenses • Budget available Gestion de trésorerie Avril 2010 ‹#›

3 CASH CALL A : Estimate of the available resources on the project accounts 3 CASH CALL A : Estimate of the available resources on the project accounts at the end of the current quarter (A = 1 -2+3) Total of available resources at the beginning of the quarter Financial planning of local expenses of current quarter Funds received during current quarter B : Financial planning of local expenses of next quarter C : Cash buffer (1/3 of next quarter, maximum of 50. 000 EUR) => Cash call = B – A + C Gestion de trésorerie Avril 2010 ‹#›

3 CASH CALL 3. 1 Two restrictions Amount cash call <= budget – funds 3 CASH CALL 3. 1 Two restrictions Amount cash call <= budget – funds received – expenses HQ (realized + planned) If A >= B then the sum of the cash call = 0 (funds available > planning) never only a transfer from the buffer Gestion de trésorerie Avril 2010 ‹#›

3 CASH CALL 3. 2 Conditions • Accounting of previous quarter closed • Version 3 CASH CALL 3. 2 Conditions • Accounting of previous quarter closed • Version of current quarter planning is drawn up and validated • Signature on paper • Co-management (Cogestion): by the 2 project managers (+ cocommissioner) • State-managed (Régie): Project manager Gestion de trésorerie Avril 2010 ‹#›

3 CASH CALL 3. 3 Information • Information about the budget, transfers received and 3 CASH CALL 3. 3 Information • Information about the budget, transfers received and expenses by HQ (realized and planned) • Calculation of the sum of the cash call • Data and address of the project • Data banking account (main account) and financial institution • Signatures Gestion de trésorerie Avril 2010 ‹#›

3 CASH CALL 3. 4 Deadlines • Deadlines Project for RR: 10 March/ 10 3 CASH CALL 3. 4 Deadlines • Deadlines Project for RR: 10 March/ 10 June / 10 September / 10 December • Deadline Representation for headquarters: 20 March/ 20 June / 25 September / 20 December • By 10 March 2008 the cash call must be submitted for Q 2 2008 (financing of the following quarter) This cash call is based on Q 1 2008 financial planning, drawn up in February Gestion de trésorerie Avril 2010 ‹#›

3 CASH CALL 3. 5 Emergency Cash call • Early submission of a cash 3 CASH CALL 3. 5 Emergency Cash call • Early submission of a cash call • Why? Unexpected circumstances • Avoid conscious overestimation of planning • Conditions: new planning + comments + accounting of previous quarter closed • Payment within 14 days of the amount needed for the current quarter The rest on the normal date of payment Gestion de trésorerie Avril 2010 ‹#›

3 CASH CALL 3. 6 Fund transfers • Beginning of each quarter (or as 3 CASH CALL 3. 6 Fund transfers • Beginning of each quarter (or as soons as possible) • Analysis of global feasibility at headquarters • Division/report: exception • Division: • First tranche on normal date of payment • Second tranche at the request of the project (if necessary) If the first tranche is enough until the next funding: The balance of the cash call will not be transferred (close cash call) Gestion de trésorerie Avril 2010 ‹#›

3 CASH CALL • Schedule of specific funding • For example, for infrastructure projects 3 CASH CALL • Schedule of specific funding • For example, for infrastructure projects and projects with considerable public contracting • Consultation with project • Confirmation of outgoing transfer by HQ • Confirmation of incoming transfer by the project to the Representation • Transfer problems: No funds after 2 weeks-> communicate to RR Gestion de trésorerie Avril 2010 ‹#›

3 CASH CALL 3. 7 Monitoring treasury situation • Cash = cost • Opportunity 3 CASH CALL 3. 7 Monitoring treasury situation • Cash = cost • Opportunity cost • Depreciation • Bankruptcy • Limit unused resources • Avoid negative balances • Request the nex cash call on time • Make sure transactions are performed well Gestion de trésorerie Avril 2010 ‹#›

TRAINING'S OBJECTIVE The participant will be able to manage treasury throughout the project while TRAINING'S OBJECTIVE The participant will be able to manage treasury throughout the project while respecting the procedures in force at BTC; he/she will be able: • Explain the importance of treasury management. Explain the financing mode of BTC and its projects • Manage the cash call process • Explain the different payment modes used at BTC • Manage the banking accounts • Manage the petty cash accounts Gestion de trésorerie Avril 2010 ‹#›

4 PAYMENT MODALITIES 4. 1 Tools • Electronic deposit • Paper deposit • Cash 4 PAYMENT MODALITIES 4. 1 Tools • Electronic deposit • Paper deposit • Cash • Cheques Gestion de trésorerie Avril 2010 ‹#›

4 PAYMENT MODALITIES 4. 2 Criteria • Security: • Swiftness • Cost • Administrative 4 PAYMENT MODALITIES 4. 2 Criteria • Security: • Swiftness • Cost • Administrative load Gestion de trésorerie Avril 2010 ‹#›

4 PAYMENT MODALITIES 4. 3 Bank transfer • The best modality in all respects 4 PAYMENT MODALITIES 4. 3 Bank transfer • The best modality in all respects • Favour electronic payment as much as possible • Ask suppliers to have a banking account Gestion de trésorerie Avril 2010 ‹#›

4 PAYMENT MODALITIES 4. 4 Cash • Cost: 0, 3% - 2% • Risky 4 PAYMENT MODALITIES 4. 4 Cash • Cost: 0, 3% - 2% • Risky transport, risk of theft and violence • Risk of error • Risk of fraud • No interest • Significant administrative cost Gestion de trésorerie Avril 2010 ‹#›

TRAINING'S OBJECTIVE The participant will be able to manage treasury throughout the project while TRAINING'S OBJECTIVE The participant will be able to manage treasury throughout the project while respecting the procedures in force at BTC; he/she will be able: • Explain the importance of treasury management. Explain the financing mode of BTC and its projects • Manage the cash call process • Explain the different payment modes used at BTC • Manage the banking accounts • Manage the petty cash accounts Gestion de trésorerie Avril 2010 ‹#›

5 MANAGE THE BANKING ACCOUNTS • • Structure of the accounts: See TFF Signature 5 MANAGE THE BANKING ACCOUNTS • • Structure of the accounts: See TFF Signature mandate Main account: EUR or F CFA Opening and closing accounts: Representation. Supplying of working capital accounts • Needs for 1 month • Keep EUR as long as possible • Not the last days of the month. • Savings account: prohibited • Negative balance: prohibited Gestion de trésorerie Avril 2010 ‹#›

5 MANAGE THE BANKING ACCOUNTS 5. 1 E-banking • Local tool • To perform 5 MANAGE THE BANKING ACCOUNTS 5. 1 E-banking • Local tool • To perform transactions on local accounts • Consult local accounts • Tool Deutsche Bank • State-managed • Perform transactions on the main Deutsche Bank account • Consulter the local and Deutsche bank accounts • Strongly recommended Gestion de trésorerie Avril 2010 ‹#›

5 MANAGE THE BANKING ACCOUNTS 5. 2 Banking relations • Banking partner chosen by 5 MANAGE THE BANKING ACCOUNTS 5. 2 Banking relations • Banking partner chosen by headquarters with the Representation • Banking contacts in case of significant problems via Representation Gestion de trésorerie Avril 2010 ‹#›

5 MANAGE THE BANKING ACCOUNTS 5. 3 Banking services of headquarters • Documentary credit 5 MANAGE THE BANKING ACCOUNTS 5. 3 Banking services of headquarters • Documentary credit • Banking guarantees Gestion de trésorerie Avril 2010 ‹#›

TRAINING'S OBJECTIVE The participant will be able to manage treasury throughout the project while TRAINING'S OBJECTIVE The participant will be able to manage treasury throughout the project while respecting the procedures in force at BTC; he/she will be able: • Explain the importance of treasury management. Explain the financing mode of BTC and its projects • Manage the cash call process • Explain the different payment modes used at BTC • Manage the banking accounts • Manage the petty cash accounts Gestion de trésorerie Avril 2010 ‹#›

6 MANAGEMENT OF PETTY CASH 6. 1 Separation of duties • Cashier • Accountant 6 MANAGEMENT OF PETTY CASH 6. 1 Separation of duties • Cashier • Accountant • Project management Gestion de trésorerie Avril 2010 ‹#›

6 MANAGEMENT OF PETTY CASH 6. 2 Cash journal / cash register withdrawals • 6 MANAGEMENT OF PETTY CASH 6. 2 Cash journal / cash register withdrawals • Each withdrawal and deposit must be registered immediately • Document: Original supporting document or receipt of disbursement • Bound ledger with numbered pages Gestion de trésorerie Avril 2010 ‹#›

6 MANAGEMENT OF PETTY CASH 6. 3 Ceiling amount • Limit risks • Ceilings! 6 MANAGEMENT OF PETTY CASH 6. 3 Ceiling amount • Limit risks • Ceilings! • How to determine? Needs? • Bank accessibility? • Security? • Derogations from the rule: internal signed note, mail. Gestion de trésorerie Avril 2010 ‹#›

6 MANAGEMENT OF PETTY CASH 6. 4 Certificate and control of cash register • 6 MANAGEMENT OF PETTY CASH 6. 4 Certificate and control of cash register • Certificate = written proof that the cash register does indeed hold the amount specified • When? The last day of the month after the last transaction • Who? Preparation: Cashier Control of the cash register and signature of the certificate: Project manager projet • If different • Mention difference in cash register certificate • Regularization: project management • Surprise control Gestion de trésorerie Avril 2010 ‹#›

THANK YOU FOR YOUR ATTENTION Gestion de trésorerie Avril 2010 ‹#› THANK YOU FOR YOUR ATTENTION Gestion de trésorerie Avril 2010 ‹#›