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The elaboration of the treasury plans

The elaboration of the treasury plans require the association of a granted system with a predictions system. In order to establish the one year budget and the plans on shorter periods of time, a great number of information is needed, as these plans have as object the ensemble of predictions of cashing and payments. The predictions of cashing and payments are based either on already made operations (loans, sales), whose part is to integrate past information, either on foresights coming from other sections of programme of the activities of the company. Therefore, the treasury budget starts from the budget of the investment, provisioning, sale activity, having the role of converting the information of these sections into fluxes of casing and monthly payments. The elaboration of the treasury plants is bases on accounting information, as the safes and most precise source, but it is taken into consideration the fact that the information is belated in relation with the real time, the quickness of the information being indispensable to the treasurer. Also, in accounting it is taken into account the fact the expenses and the incomes are reflected in the real flux and not in the financial flux, ignoring the gap between the two. At the same time, at the basis of the elaboration of the treasury plants there are the statistic studies, useful for the determination of the flux predictions that may be repeated , especially, for the cashing coming from the sales. Knowing the figure of the predictions business of the sales budget, the cashing coming from the sales can be established, depending on the average cashing of the preceding interval in contrast with the sales from that month and in the following ones. Besides this information, for the one who operates the treasury, the knowledge of the sale structures (towards economic agents of the state, private customers or export) is extremely important, because, depending on this there are different possibilities of cashing. At the same time, in the elaboration of the treasury plants, the communicating system with the banks is of high importance, as well. It must be quick and it must facilitate the update of day-to-day predictions so as to make the corresponding decision. The bank offers sure information regarding the exact data of some transactions,with the necessary time for operating different instruments of discount, the lengths of the bank circuits, respectively.

On the basis of a reliable information system, there can be established the following types of treasury plans: the annual plan (the treasury budget); intermediate plans (3 to 6 months); daily predictions.

The treasury budget reflects the fluxes of cash with monthly and accumulated reflection of the deficit or of the surplus according to the relation: St =Vt + It + TPt Pt RIt In which: St = the cash stock of period t; Vt =the incomes of period t; It =the loans of period t;

TPt =the investment titles in period t; Pt =the payments of period t RIt =the repayment of loans in period t; This equality has at base the way of treating the best composition of the monetary stock of the period, which is of the level of loans, investment titles, repayments of credits, so that the cost of the monetary stock be minimum. The treasury budget follows the establishment of the stock separately for the exploitation activity, the activity outside the expoitation and all the activities of each month of the year. It offers information regarding the months with problems of the necessities of the treasury or the ones resulting in surpluses, thus offering the possibility of an early choice of the most economic way of covering or of the best types of investment. Generally, the structure of the annual budget of treasury is presented according to the model in table 1.1. The model of the annual budget of treasury Tabel 1.1.