Treasury (Sanctaria)

the Treasury

Logo of the Sanctarian Treasury
Department overview
Formed	November 19, 1974 (1974-11-19)
Jurisdiction	Sanctaria
Headquarters	Exchequer House, Government Square, Sanctus
Employees	82,257 Civil Service employees
Annual budget	S£18.1 billion (2018)
Minister responsible	Ben Jackson, Secretary for the Treasury

The Treasury, formerly called the Department of Finance and still occasionally referenced as such, is the Sanctarian governmental department responsible for developing and executing the government's public finance policy and economic policy. The Treasury was created in 1974, along with most other governmental departments. The Treasury prints and mints all paper currency and coins in circulation and also collects all federal taxes through the Sanctarian Revenue Service, and manages government debt instruments.

The Treasury is headquartered in Exchequer House located in Government Square, directly across the square from Government Manor, the formal seat of government in the government district of Sanctus. The Treasury is led by the Secretary for the Treasury, who is nominated by the Chancellor, confirmed by the Senate, and appointed by the President. The current Secretary for the Treasury is Ben Jackson MP.

History

The Treasury, founded alongside other governmental departments in 1974, traces its origins to the Treasury of the Papal States, which had come into existence by 1420, in the reign of Patriarch Stephan V. The Treasury emerged out of the Papal Household, and served as the location where the Patriarch kept his treasures. The head of the Treasury was called the Purser.

Organisation

The Treasury is headed by the Secretary of the Treasury, also known as the Secretary for the Treasury. The Secretary is aided by the senior civil servant in charge of the department, the Director-General. The Department itself is then split into various divisions or directorates, with each division headed by other senior civil servants, Directors, who report to both the Director-General and the Secretary of State. This is mirrored in all other government departments, with the only political staff being the Secretary themselves, or any other politician appointed to aide them. Civil servants throughout the department report to their superiors, who eventually report to the Director-General, who is then answerable to the Secretary. The Secretary in turn reports back to the Cabinet and, indeed, the Parliament.

Structure

• the Treasury
  • Sanctarian Revenue Service
  • Budgetary Affairs Directorate
    • Policy and Strategy Office
    • Financial Reporting Bureau
    • Drafting Office
  • Financial Economics Division
    • Fiscal Policy Office
    • Exchequer Funds and Accounts Bureau
    • Financial Markets Office
  • Sanctarian Mint
  • Corporate Affairs Directorate
    • Financial Institutions Bureau
    • Assets Forfeiture Bureau

Duties and responsibilities

The Treasury is the principal financial and economic department in the Sanctaria. It is responsible for formulating and recommending domestic and international financial, economic, and tax policy, participating in the formulation of broad fiscal policies that have general significance for the economy, managing the public debt, and the creation of the annual Budget.

One of the most important aspects of the Treasury's work is the creation of the annual Budget which is announced to the House of Deputies in a speech. In the Budget the Secretary details the Government's spending programme for the coming year. The Budget consists of:

• a Financial Statement to the House of Deputies,
• Budgetary Measures,
• Budget Statistics and Tables, and
• various financial resolutions.