Regulatory Alerts2002-02-13
Added · Updated
Law No. 9/2002 of 13 February - Law on the State Financial Administration System (SISTAFE)
Law No. 9/2002 establishes the State Financial Administration System (SISTAFE), applying to all State organs, institutions, local authorities, and State enterprises. It creates five subsystems: State Budget, Public Accounting, Public Treasury, State Patrimony, and Internal Control. The law mandates that the State Budget be submitted by September 30 and approved by December 15, enforcing principles such as annuality, universality, and non-compensation. It defines strict procedures for revenue collection and expenditure execution, requiring that no expense be incurred without prior budget inscription and authorization, and stipulates that if the budget is not approved, the previous year's budget remains in force with expenditures limited to one-twelfth of the allocated funds.
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