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Vision of the Ministry of Finance of the Slovak Republic

updated: 27. 08. 2018


“The Ministry of Finance of the Slovak Republic guards public finance and strives for good financial condition and prosperity of Slovakia”

The main effort of the Ministry management is to ensure harmony of public administration receipts and expenditures with macroeconomic and strategic objectives of Government policies, monitoring their efficient use, the fiscal consolidation and long-term sustainability of public finance within the eurozone, compliance with the rules of public funds spending, efficient implementation of EU financial instruments and other forms of foreign assistance while complying with the principles of good financial governance, reducing the tax burden for low- and medium-income groups, reducing tax and customs evasion, and suppressing grey economy. Further development of structural reforms will support economic growth and long-term competitiveness of the Slovak economy with the objective of getting the living standard of Slovakia’s population closer to the European average.

For the successful development of Slovakia to continue, the existence of high-quality state administration is a necessity. The Ministry of Finance plays a key role in state administration, which is an important prerequisite for the changes implemented to be sustainable and to improve qualitatively.

The management of the Ministry of Finance of the Slovak Republic aims its efforts at the MoF representing, at the level of the entire budget chapter as well as at the level of the Service Office, an institution performing its tasks efficiently having, at the same time, good credit and reputation among the public and other institutions and partners as well as internally towards the employees. The achievement of this vision will be characterised by the fulfilment of a broad spectrum of important principles as well as by the existence of relevant system mechanisms and processes.

The activity of the Ministry of Finance of the Slovak Republic has clearly defined users of its outputs including, in particular, the citizens, natural persons and legal entities primarily from the business sphere, public administration organisation, the Government, the Parliament, to a significant extent – EU institutions, international financial institutions, national financial institutions, regional and local self-governments, non-governmental organisations and educational institutions.

The fulfilment of the tasks of the Ministry of Finance of the Slovak Republic is conditional upon efficient operation of the Ministry as an agency on the principles of the EFQM Excellence Model. The agency has a rational organisation structure in place, experienced and motivated employees, appropriate material equipment, well functioning systems for control and internal information and communication flows and related processes, as well as mechanisms for external communication.
An important objective for the operation of the Ministry of Finance of the Slovak Republic as an agency is, while fulfilling the conditions for efficient operation of the Ministry of Finance of the Slovak Republic as a budget chapter, also the user satisfaction level concerning the services provided by the Office of the Ministry of Finance of the Slovak Republic.

The successful fulfilment of this mission is conditional upon the existence of the following principles and mechanisms in nine key areas. While most of the principles, mechanisms and processes are applied equally at both levels, the Ministry as a budget chapter and the Office itself have their specifics.

1. Leadership

• Open communication with other public administration entities
• Receiving suggestions and opinions from the external environment
• Management supporting initiative solutions to external suggestions
• Managing the subordinate organisations on a partnership basis and open communication with them
• Consistent operation of the Ministry as an example of modern and efficient methods of management and control of state administration

A key role in Ministry’s operation is played by open communication at all levels of management. Therefore the MoF Office’s vision includes the application of additional principles:

• Receiving opinions and suggestions from employees
• Open communication within the management
• Supporting internal democracy with clearly defined responsibility
• Responsible and autonomous approach to problem solving leading to fulfilment of the MoF’s objectives as a budget chapter as well as an agency
• Exemplary behaviour of the managing staff

2. Policy and strategy

• Resolute enforcement of a long-term approach based on the idea of sustainable growth of the Slovak economy
• Enforcement of a program-based and long-term approach to state finance in the working methods of other ministries and other governmental agencies
• Enforcement of a program-based and long-term approach to state finance into the thinking and working methods of all sections, divisions, and key staff of the Ministry
• Continued improvement of Ministry’s operation as an inspiration for other ministries and the entire public sector
• Systematic monitoring, evaluation, and active response to signals from the external environment

3. Employees

• Building and maintaining a stable team of high-quality and qualified people
• All MoF employees acting in the role of helpers and advisors to all in need thereof – this being constructive and communicative
• Existence of system tools for efficient differentiation in remuneration and motivation of employees
• Systematic support to employee professional and career growth broken down into a long-term training plan
• Support to information sharing, dialogue, and cooperation among units
• Employee remuneration on the basis of their contribution to the fulfilment of Ministry’s objectives taking account of their performance, the remuneration being motivating to future performance at the same time

4. Partnership and resources

The MoF Office complies with ethical standards of cooperation with external partners. At the same time, it uses the available material and financial resources including information and communication technologies actively and efficiently. In the interests of efficiency, it cooperates transparently with the private sector.

• Active participation in establishing partnership relations benefiting Slovakia’s political and economic position
• Efficient use of external partnership wherever it is within the spirit of the strategy defined and in the interests of the general efficiency
• Creating ethical standards of cooperation with external partners and consistent attention to compliance therewith in its own practice and in the broader context of state administration
• More efficient use of the Ministry’s assets and of the budget funds allocated

5. Processes

Key processes and mechanisms are set up at the Ministry primarily with the objective of fulfilling the main tasks of the sector efficiently, in the required quality, and on time.

• Introducing process control in all key areas
• Permanent improvement of MoF operation through process control, systematic performance measurement and monitoring
• Existence of clear and transparent standards determining the internal mechanisms of Ministry’s work
• Process setup and control with the basic objective of fulfilling the role of the MoF as a budget chapter
• Flexible management processes and decision making

6. Results with respect to the users

• Verifying, on an ongoing basis, the success in operation taking account of the citizen and society as a whole as the crucial user of the activity results
• Actively monitoring the extent of acceptance and understanding on the part of the most important users
• Systematically abstracting from the influences of popular pressures and short-time campaigns in evaluation of user attitudes and satisfaction
• Clear definition of “key” process users
• Building in internal and external mechanisms to monitor the fulfilment of the basic strategic objective and the satisfaction of the MoF service users
• Active feedback on the fulfilment of the basic strategic objective and user satisfaction
• Actively monitoring and measuring the internal factors of process performance influencing the fulfilment of the basic strategic objective and user satisfaction

7. Results with respect to the employees

The Ministry regularly monitors the performance of its employees but also their satisfaction with the operation of the Ministry and with the working atmosphere. The objective of the monitoring is the effort to prevent misunderstandings and problems in the personnel area.

• Building in mechanisms to monitor the internal atmosphere and its long-term development
• Systematically monitoring employee opinions to prevent misunderstandings and problems in the personnel area
• Monitoring and evaluating employee attitudes

8. Results with respect to communities

An important attribute of the Ministry’s work is a good credit among relevant groups of output users, other ministries, as well as organisations whose activity overlaps with that of the Ministry.

• Monitoring the level of action within state administration bodies and institutions with similar or overlapping sphere of activity
• Planning, monitoring, and evaluating the position among institutions of similar orientation at the international level
• Evaluating and enhancing relations with relevant opinion-forming institutions and communities
• Monitoring and managing media relations
• Systematic evaluation of relations with the business environment and citizens, designing and evaluating information and communication campaigns
• Monitoring the level of action within state administration bodies
• Evaluating and enhancing relations with relevant opinion-forming institutions and communities

9. Key performance results

The Ministry maintains continuity in developing values, objectives, and goals. The basic objective of the MoF is to create conditions for a dynamic and sustainable growth of the Slovak economy. The means to fulfil this objective is an efficient management of public finance, including efficient collection of taxes and customs. The MoF assesses the fulfilment of its objectives regularly. At the same time, it monitors the satisfaction of the external environment and responds actively.

• Existence of an environment for sustainable growth of the Slovak Economy
• Efficient system for the management and consolidation of public finance
• Efficient system for the accounting of state revenues, expenditures, and assets, introducing a single state accounting and reporting system, developing the system of state treasury
• Efficient system of tax and customs collection and administration, unifying the collection of taxes, customs, and social security constributions
• Efficient system for the budgeting and management of state debt and liquidity
• Efficient system of financial relations with the EU
• Improved legislative and institutional framework for an efficient and transparent financial market
• Long-term stable, consolidated, and motivated team of MoF employees
• Efficient and fast provision of services to MoF agencies
• Efficient system to ensure coordination of the financial control system, internal and government audit within the Slovak Republic