Ministry of Finance Finalizes Regulation on Central-Regional Financial Data Synergy

The Ministry of Finance (“Ministry”) is finalizing a Draft Regulation of the Minister of Finance on Standard Chart of Accounts (Bagan Akun Standar - “BAS”) Synergy between the Central Government and Regional Governments. This policy is part of national fiscal governance reform that emphasizes consistency of financial data at the government level.

“Until now, the central and regional governments have used different account codes even for similar types of transactions. This has hindered the integration of national financial data, including in the preparation of a more responsive State/Regional Revenue and Expenditure Budget,” said Agung Widiadi, Director of Information Systems and Transfer Implementation at the Directorate-General of Fiscal Balance (Directorate-General) of the Ministry to Hukumonline.

BAS synergy is the implementation of the mandate of Regulation of the Government No. 1 of 2024 on the Harmonization of National Fiscal Policy (“Regulation 1/2024”). This includes the harmonization of the financial application system currently used as a guideline in planning, budgeting, budget implementation, and government financial reporting.

“The harmonization process is already underway and is projected to be completed before the second semester of 2025,” he added.