The Hungarian State Treasury is a central budget agency with a separate operation and financial management, with an executive power, forming an independent legal entity with a national scope of competence, standing under the direction of the Minister for National Economy concerning both the functional and the regulatory aspects. The Treasury performs its tasks through the Headquarters and the County Directorates.
The Hungarian State Treasury's name (hereinafter Treasury):
in Hungarian: Magyar Államkincstár,
in German: Ungarisches Schatzamt,
in French: Trésor Public de la Hongrie.
During the implementation of the budget the Treasury is responsible for financing, money circulation, clearing of accounts, cash-, deficit- and state debt management, determined data supply as well as management and detailed registration of guarantees and loans extended by the state.
The mission of the Hungarian State Treasury is: disbursement of public funds, and control of these payments.
As public expenditures can be made only on the basis of authorisation by law, the Treasury will ensure that public money is used for purposes for which the authorisation relates.
Thus the Treasury is a participant of the public funds' spending; at the same time also a supervisor of the process. Our task is to follow up the flow of the public funds and by this means to prevent from unauthorised disbursements.
The Hungarian State Treasury keeps the philosophy of the providing state
Within the treasury system real disbursements should only be carried out following the proof of the performance by invoice in the case of organisations outside the scope of the Treasury and private individuals. The money circulation is ensured through the Single Treasury Account, which is kept by the National Bank of Hungary, and the Treasury has an exclusive right of disposal over it.
Within the scope of the Treasury disbursements between the organisations are executed by transfers between the relevant budgetary appropriations. These transfers do not influence the Single Treasury Account's balance but they have exactly the same effect as real money transfers.
The Treasury must keep data records and must provide information concerning budgetary appropriations (quotas/targets), real expenses and public expenditures in a manner that it permits control over the real financial activity (receipts and expenses) of the organizations belonging to the scope of the Treasury. Moreover, these records should be compatible with national and international accounting standards.
The Treasury operates a double financial coverage assessment system (liquidity and appropriation) to prevent from exceeding the expenditures fixed in the budgetary appropriations.
The establishment of the treasury management was an important element during the process of modernisation of the general government's financial system. With the centralisation of the cash management and the decrease of the financing burden, the treasury system has created a strong basis to a transparent, regular and controlled execution of the state budget.
After the 1 November 2017 merger of the Central Administration of National Pension Insurance, the Hungarian State Treasury participates in the professional management and control of the establishment and disbursement of social security pensions, family benefits, monetary health insurance benefits, travel reimbursement, accident sick pay, and other benefits transferred to its competence, and facilitates uniform law enforcement in the context of these benefits. The Treasury administers the Pension Fund, furthermore exercises equitable decision-making competences in certain cases and keeps the official registers of the pension insurance. Furthermore it performs tasks related to individual social insurance accounts, and develops and operates professional IT systems within the scope of its tasks. It keeps the social, child welfare, child protection and rehabilitation registers transferred to its competence. The Hungarian State Treasury acts as an international contact point with regard to the benefits in its competence and takes part in performing European Union Member State tasks related to the coordination of social security systems. It establishes pension increases in cases specified by the law, but it is competent in the debt management related to benefits. With regard to types of consignments it ensures central reception, registration and delivery, as well as central printing and communication via the post. The Hungarian State Treasury performs benefits establishment and benefit disbursement tasks and establishes survivor benefits, certain political rehabilitation benefits and the surcharge for national defence. It arranges for the increase in pensions and other benefits, and conducts deductions from benefits, and issues and sends to the beneficiaries the travel vouchers for those catered for. To support the performance of these tasks it processes data required for disbursement and performs customer service activities.
After the merger spin-off of the Office of Agriculture and Rural Development, from 1 January 2017 the Hungarian State Treasury performs the paying agency activities with regard to the funds set out in the Common Agricultural Policy of the European Union (CAP), and in addition to this it performs the payment of agro-rural development subsidies. During this activity it processes and evaluates applications, makes the related decisions, authorises and makes payments, performs administrative and on-site checks, and operates the registration systems related to its core activities. Furthermore, it is entrusted with information, data storage, reporting, training, and customer information.
The Hungarian State Treasury as agricultural damage mitigation body provides each year significant support to farmers to mitigate and uniformly handle the effects of weather and other natural events affecting agricultural production, and operates in this context the Agricultural Risk Management System.
The Hungarian State Treasury aims to disburse agro-rural development subsidies smoothly, in line with the legislative provisions, and to establish partnership relations with clients.
We are making efforts to enable more issues to be settled electronically instead of appearing in person.