Payment of interest is recorded separately, as current expenditure, from repayment of principal. Operating costs associated with issue of bonds are recorded separately, as current expenditure on goods and services. The exception to the above compilation practice is the accounting for receipts from the sale of treasury bills. Although the receipts, redemptions, and issuing expenses are recorded separately on a gross basis only the net balance of outstanding treasury bills is reported. This accords with GFS methodology for reporting financing on a net basis.
Local governments compile statistical reports using annual financial statements.
The statistical report forms are designed by the Ministry of Finance, in accordance with GFSM guidelines, and sent to local government units. The completed statistical reports are sent by the local governments to their local Institute of Payments, which summarize them and send the data to the Ministry of Finance for consolidation and final reporting. Central government data are fully consolidated in accordance with GFSM methodology. Transactions between local governments are consolidated, if available. Net lending and financing transactions between the units of the general government sector are consolidated.