Budget and Treasury Department

Role

The Budget and Treasury  Department is in charge of:

  • Establishing the budget and drawing up the accounts of the Constitutional Reserve Fund
  • Treasury and accounting transactions performed by the Public Treasury
  • Supervising credit institutions in the Principality under agreements with the European Union and France
  • Issuing coins
  • Preparing wages and salaries and managing the pensions of civil servants
  • Examining certain loan applications
  • Acting as Secretariat for the Fund Investment Commission

Organization and operation

The Department of Budget and Treasury is divided into three divisions:

The duties of this Division are to:

  • Set up and manage budget procedures
  • Draw up the State Budget and documents relating thereto
  • Provide management control assistance
  • Prepare the documents required to close the State accounts
  • Analyse the State accounts and those of the Constitutional Reserve Fund
  • Manage and monitor the movable assets of the Constitutional Reserve Fund
  • Examine loan applications in the property sector
  • Act as the accounting officer for public bodies
  • Act as Secretariat for the Fund Investment Commission

The duties of this Division are to:

  • Process wages and salaries of civil servants and other Government officials
  • Pay civil service pensions
  • Manage the "Fonds Complémentaire de Majoration de Rente des Accidents du Travail" (fund covering work-related accidents)

The duties of this Division are to:

  • Supervise banks and other financial institutions in liaison with French regulatory and supervisory bodies
  • Examine applications by credit institutions to relocate to the Principality
  • The designation of credit institutions within the framework of the right to account
  • Examine Finance Bills and monitor their implementation
  • Secretariat to the Committee formed under the Monetary Agreement between the European Union and the Principality of Monaco
  • Monitor the Monegasque Credit Guarantee Fund
  • Issue Monegasque currency

 

Legal References

 

 

Administrative contact