Every year by the end of February, government agencies and departments draw up the final central government accounts, which include the annual report, budget realisation statement, income and expense account, balance sheet and notes. The State Treasury compiles the account details of agencies and departments in the central government’s Central Bookkeeping and draws up the final central government accounts based on this data.
On-budget finances comprise the revenue estimates and appropriations decided for the central government budget by Parliament. The final central government accounts are prepared based on the central government’s on-budget finances data. They contain the budget realisation statement, income and expense account, balance sheet, financial statement and notes.
The visual representation is based on the calculations in the 2019 final central government accounts, and the review focuses on the central government’s on-budget finances. In the visual representation of the final accounts, the figures are rounded to the nearest EUR 0.1 billion. When using visual representations prepared by the State Treasury, the original source and the date of the version must always be listed. For example:
- © State Treasury (more precise expression of time)
- Includes / the image is based on materials of the State Treasury (more precise expression of time)
What are payment transfers?
Revenues and expenses from payment transfers do not involve a direct consideration. However, tax revenues are presented as separate revenues in the final accounts. Revenues from payment transfers include e.g. financial contributions received from European Structural Funds that are gross budgeted in the central government budget. For their part, the central government transfers and grants paid to municipalities and social security funds fall under payment transfer expenses.
Monitoring of authorisations as part of the monitoring of budget realisation
In conjunction with the processing of the budget, Parliament can also grant an authorisation that is limited in terms of quantity and purpose of use for making agreements and commitments. The appropriations required for the expenses incurred from this are included in the budgets for later years either in full or for the missing parts. An authorisation can be used during the financial year for which it is granted in the financial year’s budget.
The centralised monitoring of authorisations is carried out by the State Treasury. In addition to the needs for appropriations mentioned here, the central government also has needs for appropriations that arise from other commitments. These are described in e.g. Appendix 12 to the final central government accounts.
Parliament receives reports of the budget’s realisation
Operational and financial planning links the tasks and goals of the central government and ministries, as well as the operational tasks of government agencies, to each other. Each year in April, the Government submits the Government’s annual report to Parliament. It reports on Government activities, the management of central government finances and adherence to the budget. The report also includes descriptions of the performance of ministries, the final central government accounts and replies to parliamentary statements and position papers.
Central Government Accounting, tel. + 358 (0)295 50 2000, kkp(at)valtiokonttori.fi