The State Treasury of Ukraine

The State Treasury of Ukraine (hereinafter referred to as “Treasury”) is a governing body subordinated to the Ministry of Finance of Ukraine and being a part thereof. The Treasury is a member of electronic payments system of the National Bank of Ukraine.

The main objectives of the Treasury are:

- Provision of treasury services regarding the state and regional budgets on the basis of introduction of a single treasury account which secures:

- cash management services to spending units and beneficiaries of budget funds;

- control over budget competence in crediting proceeds, assuming liabilities and making payments with regard thereto;

- control, within the limits of Treasury’s competence, over compliance of budgetary process participants with the budget legislation;

- accounting and reporting on the execution of the state and regional budgets;

Management of available financial resources accounted by the Treasury;

The State Treasury of Ukraine is a governmental body operating as part of the Ministry of Finance of Ukraine and is subordinate thereto.

The State Treasury of Ukraine is financed from the State Budget of Ukraine. The State Treasury of Ukraine and its local bodies have their own estimates, registration and other budget accounts both in the Treasury and in banks.

Ukrainian treasury system has a 3-level structure and consists of: the State Treasury of Ukraine located in the capital of Ukraine and representing its central level; main departments of the State Treasury of Ukraine representing its regional level, in particular: 1 main department – in Crimea; 2 main departments – in Kyiv and Sevastopol; 24 main departments in regions; district (municipal, city district) departments (a total of 633) located in important local administrative centers.

The 3-level structure of the State Treasury of Ukraine which is close to the administrative and territorial division of Ukraine allows to serve local budgets in accordance with the budget code. It is a natural stage of reorganization of the budget sphere where treasury plays an important role.

The State Treasury of Ukraine comprises 660 local bodies with 16, 000 employees.

The Treasury is chaired by the Head of the State Treasury of Ukraine who is appointed and dismissed by the Cabinet of Ministers of Ukraine upon recommendation of the Minister of Finance.

The Head of the State Treasury of Ukraine carries out general management of the Treasury, is personally responsible for treasury’s activities, determines powers and distributes functions between deputies.