Board of Directors’s report on priority areas

In 2015, the IDGC of Centre’s Board of Directors set the activities for the centralisation and automation of treasury functions as a priority area for operations (Board of Directors of March 13, 2015, Minutes No. 05/15 of March 16, 2015).

The creation of a unified treasury in state-owned companies and their subsidiaries was a goal set by Resolutions of the President of the Russian Federation (No. Pr-1032 of May 7, 2014), Government of the Russian Federation (No. ISh-P13-3464 of May 13, 2014) and Directive of the Government of the Russian Federation (No. 5110p-P13 of August 8, 2014). Rosseti and IDGC of Centre created special working teams in order to arrange the works and to implement the activities required for creation of the Unified Treasury.

In order to achieve the set goal, IDGC of Centre implements the pilot projects of information infrastructure to enhance the functions of the Unified treasury on a phased basis.

Documents regulating the interaction of the Unified Treasury of Rosseti and IDGC of Centre were developed and approved by the Board of Directors (Minutes No. 13/15 of June 24, 2015): Regulations of payments to and from IDGC of Centre and the Regulations of IDGC of Centre on internal financing.

Since July 1, 2015, IDGC of Centre has operated under the unified automated management system of Rosseti Group’s treasury operations.