THE IMPERIAL MINISTRY OF THE TREASURY
STATE OF THE TREASURY REPORT
TABLE OF CONTENTS
Staffing and the Integration of Provinces in the Treasury
Office of the Treasury – Taxation Report
Budget of Expenditures for 1779
House of Commons - Treasury Happenings
Imperial Reserve & Loan Office Standings
The Biennial Imperial Ministry of the Treasury State of the Treasury Report, is an ongoing endeavour by the Office of the Treasury to achieve transparency with the citizens of the Empire and House of Commons through publicising the various steps and achievements of the office on a biennal basis when required.
The Imperial Treasury has recognized the importance of retaining consistency across provinces on the ideas of the Treasury in regards to outflow of spending, in order to create a more cohesive relationship within the Empire. It is for such a reason, in correspondence with the provinces of the Empire, that their respective financial ministers and their province’s perspective be more integrated into the operations of the Treasury, and get them more involved and engaged in Imperial matters of the Treasury. This does not signify the unification of assets, however, merely the unification of input on the Treasury’s operations. As it has always been, the Lord Treasurers of each province hold their sole power to manage the operations of their province. Through such integration, the Secretary will be able to voice the collective opinion of the Treasurers in the cabinet.
Office of the TREASURY - Staffing Roster & Recent Appointments
SECRETARY OF THE TREASURY
His Excellency, George Galbraith [MrChenn1]
UNDERSECRETARY OF THE TREASURY
MISTER George Dubois [LouisGY]
LORD TREASURER OF HAENSE
His Excellency, Edvard Amador [HogoBojo]
LORD TREASURER OF KAEDRIN
MISTER George Dubois [LouisGY]
CITY CLERK OF HELENA
MISTER Rylan Swint [BobBox]
COMPTROLLER OF FINANCES
MISTER George Kovachev [esterlen]
WARDEN OF THE IMPERIAL RESERVE
MISTER Theodore Mane [BasketWeaver]
Unfilled positions under budget cuts.
Office of the TREASURY - Biennal Taxation Report
The City of Helena currently accounts for the total earnings supporting the Imperial Treasury. The source of this income derives from the sale of property and the taxation of said housing.
During the years 1777-1778, there were 139 properties in Helena, 11 of which are tax-exempt city, church, or Imperial governmental buildings and offices.
As of 1779, Helena property is at 85.04% occupancy.
Under Helena’s current housing operation, there is a waiting period upon missed taxed payments, evictions and when those evicted houses are turned back over to prospective home buyers. This can cause fluctuations in the income from year to year.
This is not a new issue, however, and in the past seven years, efforts to implement stricter tax warnings and evicted property turnover have been implemented by a joint collaboration with the City Clerk. Furthermore, efforts passed through, in collaboration with the Helena Livery Board, such as the Gustavian Zoning Initiative, have mitigated tax fraud. Such fruition of efforts was seen in 1772, when the Treasury reached a record high in city tax and sales.
However, the issue of volatility still exists today in city tax, the Treasury averaging sales/tax lower than an expected ideal world. Nonetheless, in collaboration with the management of the clerkship, the Treasury hopes to help encourage more/stricter clerk related training, more efficient hiring, and creating incentives for clerks to meet certain sales quota.
In addition to this, new housing districts to be built will not only increase our reserves after expenses. But the taxes generated from these properties will increase our yearly income provided by Helena. In Article IV and Article VI, this report will address various further revenue streams that the Treasury is investigating their reasonableness then push to House approval.
Office of the TREASURY - Budget of Expenditures for 1779
Ministry of War - 10,000
Ministry of Justice - 5,900
Ministry of Interior - 2,600
Ministry of Civil Affairs - 600
Ministry of Foreign Affairs - 0
Ministry of Intelligence - 2,500
Ministry of Treasury - 800
The Treasury Department shall seek to operate independently from the other Ministries when reaching verdicts on the budget, no treasury member who also works in a separate ministry may assist on the budget to not forgo their independence and transparency on the allocation.
The Treasury Oversees the budgeting of the ministries as each year passes, the Treasury will perform their own external audits upon the Ministries on a timely basis to ensure the amounts given are used for their designated reason and that overspending is not an issue.
House of Commons - Treasury Happenings
Currently, a number of bills passed by the House of Commons have been in regards to the operations of the Treasury, specifically:
Imperial Parks Act, 1775
Protecting Our Veterans Act, 1775
Imperial Business Funding Bill, 1777
All of these acts have been assigned to corresponding Treasury Agents, where the status of such bill implementations will be reviewed by the Secretary of the Treasury and the Undersecretary.
Office of the TREASURY - Imperial Reserve and Loan Office
As of 1776, under the Imperial Business Funding Act, a reinstatement of the loan office has been underway. The act has been reformed, introducing mortgage collateral for the benefit of both the client and the treasury; aiding newly formed businesses get themselves off of the ground, in turn providing flourishing business to the Empire. Additional selective measures have been added to the application process of acquiring a loan, to ensure that both parties can feasibly work together. The treasury will also ask for the financial statements from the said client, in turn a suitable price may be negotiated for an efficient contract.
The Treasury will also seek to revitalize the Imperial Reserve, using a portion of revenue to buy and sell stock in auction-related matters to generate higher profit that will go back to the Treasury.
TREASURY - Future Projects
As noted in Article V, the Treasury is investigating various leads on possible improvements to the income of the Empire. There have been various proposals including but not limited to:
The Issuance of Imperial Treasury Bonds, a form of debt that the Empire can use to finance large scale projects, lessening the weight on the Reserve and repaying the debt with the profits gained from said projects. Typically these would be reserved for housing projects.
Buying and selling stock in auctions to generate higher profit with the Imperial Reserve as aforementioned,
The Establishment of an Imperial Lottery System operated either yearly or annually which would allow the citizens of the Empire to have a chance at a large sum of minas while also providing a consistent income to the Empire as part of the earnings.
IN NOMINE DEI
Secretary of the Treasury,
His Excellency, George “Grey” Galbraith