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Countries' updates - Nobuhisai Sakamoto, Japan

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This presentation was made by Nobuhisai Sakamoto, Japan, at the 19th OECD Senior Financial Management and Reporting Officials Symposium held at the OECD Conference Centre, Paris, on 4-5 March 2019

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Countries' updates - Nobuhisai Sakamoto, Japan

  1. 1. Financial management & Reporting by the government of Japan - Progress and way forward - 1 Government of Japan OECD Public Sector Accruals Symposium Paris, March 4-5. 2019 Nobuhisa Sakamoto Director, Public Accounting Office, Budget Bureau, Ministry of Finance, Japan
  2. 2. 2 Government of Japan  At the national level, since fiscal year 2003(Apr.2003-Mar.2004), we have published “Government Financial Statements” based on “accrual basis”. Balance sheet of “Government Financial Statements” (unit : trillion yen) March 31, 2016 March 31, 2017 Difference March 31, 2016 March 31, 2017 Difference <Assets> <Liabilities> Cash and Deposit 55.2 47.9 (7.4) Account payable etc 11.9 12.0 0.1 Securities 119.9 118.5 (1.4) Financing bills 84.7 77.0 (7.7) Account receivable etc 11.0 10.9 (0.1) Government bonds 943.3 966.9 23.6 Prepaid expense 1.9 5.5 3.6 Borrowings 30.8 31.4 0.7 Loans 115.6 112.8 (2.7) Money in custody 6.5 6.5 (0.0) Money in trust 109.1 111.5 2.4 Liability reserve 9.7 9.1 (0.6) Allowance for doubtful debt (1.8) (1.6) 0.1 Deposit reserved for public pension 118.8 120.1 1.3 Tangible assets 181.6 182.5 0.9 Allowance for retirement benefits 7.5 7.0 (0.5) Intangible assets 0.3 0.3 0.0 Other liabilities 8.5 8.8 0.3 Investments 72.5 74.8 2.3 Other assets 7.5 7.6 0.1 Total liabilities 1,221.6 9,397.1* 1,238.9 9,529.8* 17.3 132.7* <Difference b/w assets and liabilities> Difference b/w assets and liabilities (548.9) (4,222.2)* (568.4) (4,372.0)* (19.5) (149.8)* Total assets 672.7 5,174.9* 670.5 5,157.7* (2.2) (17.1)* Sum of liabilities and difference b/w assets and liabilities 672.7 5,174.9* 670.5 5,157.8* (2.2) (17.1)* *unit: billion euro (For your information, this is calculated as 1euro≒130yen)
  3. 3. Government of Japan 3  In January 2015, Japanese central government (Ministry of Internal Affairs) requested all local governments to prepare financial statements on an accrual basis, and fixed asset records. Status as of March 31, 2018 Local governments Total Prefectures Cities / Towns financial statements (accrual basis) 1,577/1,788 (88.2%) 41/47 (87.2%) 1,536/1,741 (88.2%) fixed asset records 1,704/1,788 (95.3%) 43/47 (91.5%) 1,661/1,741 (95.4%)
  4. 4. Government of Japan 4  Since the fiscal year 2014(Apr.2014-Mar.2015), on selective government projects, we are trying to calculate “full cost information”.  In the fiscal year 2019(Apr.2019-Mar.2020), for the annual budgeting process, “full cost information” was prepared for 65 government projects* and used as “reference material” in our Budget Bureau, for compiling the annual budget for each program. * There are about 5,000 government projects in Japan.
  5. 5. Government of Japan 5 The way of calculation “full cost information”: Full cost associated with individual government project is calculated, based on the information within the Government Financial Statements, by adding up individual costs as follows. cost of employees other costcost of office buildings, etc. (depreciation cost) Direct cost of project++ + Full cost information Overhead cost

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