Research On Risk Control Mechanism Of Local Fiscal Centralized Treasury Payment

The innovation of the Centralized Treasury Payment system is an important part of China's treasury management reform system.As the main measure of risk warning and prevention during the budget execution,the dynamic monitoring mechanism has the characteristics of multi-level and full range,of which the purposes are to gradually standardize the flow of funds,strengthen the supervision,deter illegal operations,and avoid risks during the payment of funds.However,the ministries of finance prefer to focus on how Centralized Treasury Payment system will affect local fiscal budget preparation and execution,but they pay less attention to the risks come with the reform.With the present institutional arrangement,agent banks will remit budget units financial funds from the national treasury account.Therefore,if the remitting progress lacks of corresponding risk control and supervision,financial funds can be ran out of the system,which will course bigger risks to it.Aiming at the central issues by analyzing the current situation and limitation of risk warning and prevention system of local fiscal Centralized Treasury Payment,this paper takes the risk control mechanism of Centralized Treasury Payment of N city as the major research object,in hopes of modifying current mechanism and constructing the integrity and operability of the centralized treasury payment' s risk control and prevention system during the reform.The key points of this Research are to identify risks,define risk index,improve the level of information data management and standardize specific operation of the Risk warning and prevention system.Through the discussion of establishing normative framework of Centralized Treasury Payment risk warning and prevention system,we can improve and perfect the risk control mechanisms before,during and after the circumstances to ensure the safety of both national and local fiscal resources.