Controls and audits

IMF, World Bank and PEFA guidance on collection

Q: Which PEFA indicator covers transfer of revenue to the treasury?

Dimension 20.2, transfer of revenue collections.

Q: Does the IMF prefer float or fees for collecting banks?

Fees per transaction. It calls float not transparent.

Last checked 24 October 2026 · 7 sources

Short answer

The main guidance comes from two IMF papers on the treasury single account, a World Bank TSA assessment toolkit and the PEFA framework. The IMF says banks should transfer collections to the TSA main account on the same day ¹ and should be paid by fee per transaction, not float ². The World Bank toolkit asks whether agent banks transfer all revenues daily ³. PEFA scores transfer and reconciliation of revenue in indicator PI-20 ⁴. These are guidance, not binding law.

IMF working paper: WP/10/143, May 2010 ¹
IMF technical note: TNM/11/04, August 2011 ²
World Bank toolkit: TSA Rapid Assessment Toolkit, version 2.1, February 2017 ³
PEFA indicators on collection: PI-19, PI-20, PI-21, PI-27 and PI-30 ⁵
Status: Guidance and assessment tools, not binding law ^2,5

The documents

The World Bank toolkit's cover gives version 2.1, February 2017, and its title page gives October 2013 ³. PEFA was developed by seven partner institutions and is run by a secretariat in Washington DC ⁵.

Document	Publisher	Date	What it covers
Treasury Single Account, Concept, Design, and Implementation Issues, WP/10/143 ¹	IMF Fiscal Affairs Department ¹	May 2010 ¹	TSA design, revenue circuit, bank remuneration ¹
Treasury Single Account, TNM/11/04 ²	IMF Fiscal Affairs Department ²	August 2011 ²	TSA definition, preconditions, country models ²
Treasury Single Account Rapid Assessment Toolkit ³	World Bank ³	Version 2.1, February 2017 ³	Scored questions on TSA and payment systems ³
PEFA 2016 Framework ⁵	PEFA Secretariat ⁵	2016 ⁵	Scores for revenue, cash, accounting and audit ⁵

What the IMF recommends

A unified structure of government bank accounts, with the main account usually at the central bank ².
Coverage of budgetary and extrabudgetary entities, with no agency holding accounts outside treasury oversight ².
Same-day transfer of collections by banks to the TSA main account ¹.
Payment of banks by fee per transaction, not interest-free float ².
Zero-balance transaction accounts swept back to the main account, preferably daily ².
A full census of government bank accounts and a law giving the treasury sole authority to open them ².

What the World Bank toolkit checks

The toolkit by Cem Dener rates each question from 0 to 4 ³. One question asks whether agent banks transfer all revenues to the treasury's TSA account at the central bank on a daily basis ³. Another asks whether the treasury reconciles bank statements daily through its general ledger ³. It says new processes should stop funds going to hidden or unknown government bank accounts ³.

How PEFA scores collection

PI-19 covers revenue administration, with dimensions on rights and obligations, risk management, audit and investigation, and arrears monitoring ⁵.

PI-20 covers accounting for revenue. For score A on 20.1, a central agency gets revenue data at least monthly from entities collecting all central government revenue ⁴. For score A on 20.2, collections go straight to treasury-controlled accounts or are transferred daily ⁴. Score A on 20.3 needs full reconciliation at least quarterly, within four weeks ⁴.

PI-21.1 gives score A for daily consolidation of all bank and cash balances ⁶. PI-27.1 gives score A for weekly bank reconciliation ⁷.

Common questions

Is IMF guidance on treasury single accounts binding?

No. The IMF papers describe good practice and list a national legal framework as a precondition ².

Which PEFA indicator covers transfer of revenue to the treasury?

Dimension 20.2, transfer of revenue collections ⁴.

What does the World Bank TSA toolkit measure?

TSA operations and payment systems, through questions scored 0 to 4 ³.

Does the IMF prefer float or fees for collecting banks?

Fees per transaction. It calls float not transparent ².

Rules and charges change. Check the official source linked on this page before you pay or travel. Spotted an error? Email [email protected].

Sources

What is a treasury single account?
How the IMF defines a treasury single account, how collections reach it, the account models countries use and how PEFA scores cash consolidation.
Reconciliation of government revenue
How governments match bills, bank payments and treasury records, the PEFA timing standards for reconciliation and what audit offices found.
Fees and commissions on government collections
How banks and payment providers are paid for collecting government revenue: float versus per-transaction fees, India's published rates and payer costs.
Bank collection agents for government revenue
How commercial banks collect taxes and fees for governments, how fast they must pass the money on, how they are paid and what audits check.