Rikkejuhtimist

Rikkejuhtimist is an Estonian term that translates to “money management” or “cash management.” It refers to the systematic planning, organization, and control of an entity’s financial resources to achieve economic objectives. The concept encompasses budgeting, forecasting, investment decision‐making, risk assessment, and liquidity management. While the term is used in both public and private sectors, it is particularly significant in the context of public finance, where it denotes the stewardship of state revenues, the allocation of funds in the national budget, and compliance with fiscal rules.

Historically, rikkejuhtimist evolved alongside Estonia’s economic reforms after regaining independence in 1991. The transition from a centrally planned economy to a market‑oriented system required the establishment of new fiscal frameworks, accounting standards, and transparency mechanisms. By the late 1990s, Estonia introduced its own budgeting law and adopted European Union guidelines on public financial management, which further refined the practice of rikkejuhtimist.

Key tools in rikkejuhtimist include financial statements, performance indicators, internal control systems, and automated treasury systems. Estonian public institutions routinely employ the Integrated Financial Management System (IFMS), which consolidates budget, accounting, and reporting functions. In the private sector, cash‑flow forecasting models and capital budgeting techniques such as net present value (NPV) and internal rate of return (IRR) are commonly applied.

Regulation of rikkejuhtimist is guided by both national legislation—particularly the Financial Management Act—and supranational obligations stemming from Estonia’s EU membership. These legal frameworks emphasize transparency, accountability, and the prevention of misallocation or embezzlement of funds. Continuous professional development, audit processes, and stakeholder engagement are integral to maintaining effective and ethical rikkejuhtimist practices in Estonia.