Communities Finance Officers Association
Establishment and mission
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Development of Financial Equalization mechanism in Armenia
23.01.2006 - 30.10.2007
The Project objectives are:
1. Collect data needed to elaborate the equalization formula (from municipalities and the Ministry of Finance and Ministry of Territorial Administration),
2. Design the formula and review by external experts,
3. Prepare of draft amendments to the Law on Financial Equalization,
4. Present of prepared formula and draft amendments to the representatives of Parliament, Government, Commission under the President of Armenia and local governments,
5. Implement discussions with external experts,
6. Finalize the draft and submit it to Ministry of Finance and Economy
The results are:
1. Developed new formula on Financial Equalization,
2. Developed new Draft Law on Financial equalization based on proposed formula,
3. Organized presentation of prepared materials to representatives of the Parliament, Government, Commission under the President of RA and Local self-governments and other stakeholders (Conference),
4. Draft of the Law on Financial equalization was presented to Government of RA.