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RZ12 - The 50th Cosa Budget Act

WHEREAS, as per Lex.D.2.1.5,
 

WHEREAS Organic Law directs that each government submit a budget by the second Clark of their Cosa term, and
WHEREAS this bill has been approved by all members of the Cabinet; so


A. Financial Report
THEREFORE, His Majesty's Government reports the following financial report and balance sheet to the Ziu, as certified by the Burgermeister of Inland Revenue on 26 Feb 2017:

B. Appropriations Request
FURTHERMORE, His Majesty's Government hereby submits to the Ziu a request for the appropriation of funds from the Royal Treasury totaling ℓ1,080 ($1,620 USD) for the specific purposes and subject to restrictions as outlined herein:

FURTHERMORE, notwithstanding the above allocations, no funds shall be disbursed without a notice of disbursement having first been transmitted to the Ziu at least fourteen days prior to the disbursement, except that disbursements solely for the purpose of postage may be made with no less than 24 hours notice. Notices shall contain details of the purchase and a cost estimate for the purchase, or a copy of any invoice or receipt if seeking funds for reimbursement.

FURTHERMORE, any funds allocated by this section shall be retained in the central fund by the Burgermeister of Inland Revenue until such time as they are disbursed. Funds not disbursed prior to the end of the government term shall remain in the central fund.


C. Fundraiser, Minting, and Other Authorizations

FURTHERMORE, the Minister of Finance may make available coins for pre-sale at a discounted rate prior to minting. The pre-sale shall be open to any interested party, and funds raised from the pre-sale shall be held by the Burgermeister in a separate fund until such time as the coins are minted and shipped. If coins are not minted by the conclusion of this term, all money shall be refunded. Funds raised pursuant to this pre-sale shall not be included in any fundraising campaign totals but shall be reported as a separate item in the monthly financial reports.

FURTHERMORE, the Minister of Finance, or his appointed deputy, shall undertake to create, manage, and promote a voluntary fundraising campaign to the citizens of Talossa and other interested parties over the course of this term. The targeted amount for this campaign shall be ℓ200 ($300 USD), in accordance with the direction of Lex.D.2.1.5.4. The proceeds from seigniorage, sales of stamps, TalossaWare proceeds, and other contributions shall be included in this total except as provided elsewhere.

FURTHERMORE, pursuant to authorized disbursement of funds for the purpose, the Royal Bank & Post shall be authorized to mint up to 300 coins worth up to ℓ5 ($7.50 USD) each, for a maximum of ℓ1,500 ($2,250 USD). 

FURTHERMORE, the Burgermeister of Inland Revenue, in consultation with the Minister of Finance, shall transmit the first five coins minted, as determined by the Burgermeister, to the following individuals for commemorative purposes: 1) The King of Talossa, 2) The Seneschal, 3) The Minister of Finance, 4) The Burgermeister of Inland Revenue, 5) The Royal Archivist. Postage and other costs related to these coins shall be disbursed from the miscellaneous allocation of the Ministry of Finance, pursuant to proper notice.

FURTHERMORE, the Burgermeister of Inland Revenue, in consultation with the Minister of Finance, shall be authorized to loan up to 50 coins and 150 stamps to the Ministries of Finance, Interior, or Foreign Affairs upon request for the purposes of in person fundraising at TalossaFests or other conventions and conferences. Any such funds raised by the respective Ministries shall immediately be transmitted to the Burgermeister, along with any unsold coins and stamps, following the conclusion of the event. Notice of loans made under this section shall be transmitted to the Ziu no less than twenty-one days prior to the event. Outstanding loans shall be included in the monthly financial report. The cost of postage for such loans shall be disbursed from the miscellaneous allocations of the respective Ministries, pursuant to proper notice.

FURTHERMORE, Lex.2.8.2.3.1. which currently reads:

is amended to read:

D. Investment Policy

FURTHERMORE, His Majesty’s Government hereby directs the Burgermeister of Inland Revenue to continue to invest all held funds into an interest-bearing savings account.