Cyber Nations Wiki
Advertisement

The Department of the Treasury is an executive department and the treasury of the Kitexian federal government. It was established by an Act of Parliament in 2008 to manage government revenue. The Department is administered by the Secretary of the Treasury, who is a member of the Cabinet.

Responsibilities[]

The basic functions of the Department of the Treasury include:

Managing federal finances;

Collecting taxes, duties and monies paid to and due to Kitex and paying all bills of Kitex;

Producing all postage stamps, currency, and coinage;

Managing government accounts and Kitexian public debt;

Supervising national banks and thrift institutions;

Advising on domestic and international financial, monetary, economic, trade and tax policy – fiscal policy being the sum of these, and the ultimate responsibility of Parliament.

Enforcing Federal finance and tax laws;

Investigating and prosecuting tax evaders, counterfeiters, forgers, smugglers, illicit spirits distillers, and gun law violators. With respect to the estimation of revenues for the executive branch, Treasury serves a purpose parallel to that of the Office of Management and Budget for the estimation of spending for the executive branch, the Joint Committee on Taxation for the estimation of revenues for Congress, and the Congressional Budget Office for the estimation of spending for Congress.

The term Treasury reform usually refers narrowly to reform of monetary policy and related economic policy and accounting reform. The broader term monetary reform usually refers to reform of policy of institutions such as the International Monetary Fund.

Advertisement