Insider Economy Finance Ministry’s budget guidelines for communities clearly defined

Finance Ministry’s budget guidelines for communities clearly defined

The Finance Ministry’s budget guidelines towards the island’s communities for 2020 but also for the 2020-2022 medium-term budgetary framework are clearly defined in a circular that has been sent out to each and every one.

The circular goes as far as to list the types of products and services that fall under each and every budget article and the Ministry clarifies that this is in a bid to avoid any misinterpretation.

An example of how specific the circular is the reference to the purchase of stationery and printing material which falls under administrative costs. Even pens, pencils, rulers, erasers, glue sticks, staples, envelopes etc are asked to be budgeted.

Another point stressed by the Ministry concerns funds related to the purchase of furniture, utensils and books. In fact, their value should not exceed €2,000 per unit. Based on the circular, this budget includes 36 items – from lampshades and benches to card boxes.

Αs for funds related to the purchase of tools and equipment these also include individual gadgets, telephones, videos, building tools such as trolleys and saplings, according to the instructions.

The Ministry has also sent our special lists on which salaries, loans, and council expenses should be written.

An informed source told Phileleftheros the budget guidelines are so analytical this year is because of compliance reasons. So that each community is aware of the specific article each and every expense falls under.

Community Councils have to submit their budgets electronically by November 1st.

 

Read more:

https://in-cyprus.com/municipalities-to-receive-almost-e71-million-in-state-subsidy-in-2020/

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