Financial Calendar

Financial Cycle 2018

January
1st: Budget 2018 enters into force (art. 16 NGAO) if approved by Parliament
February
15th: Implementation memorandum Q4 2017 from MinFin to CFT (art. 18.1 KL)
March
Closing of fiscal year 2017 (practice of the Ministry of Finance)
April
May

1st: Budget estimates 2019 by Ministers to MinFIN ( art. 34 NGAO)

15th: Implementation memorandum 2017 from MinFin to Parliament (NGAO art 44)

15th: Implementation memorandum Q1 2018 from MinFin to Parliament (NGAO art. 44) and CFT (art. 18.1 KL)
June
July
August

15th: Implementation memorandum Q2 2018 from MinFin to Parliament (NGAO art. 44) and CFT (art. 18.1 KL)

31st: MinFin deliver (draft) Financial Statement 2017 to CFT (art. 18.4 KL)
September

1st: MinFin submit Budget 2019 to Parliament (art. 100 Constitution)

1st: MinFin prepares financial statement 2017 (art. 52 NGAO)* * CoM has to approve FS 2017 and submit it to SOAB and GAC (art. 53.1 NGAO). (This date for approval CoM is not specifically stipulated  in NGAO, Constitution or Kingdom Law, but it is advisable for an optimal financial cycle)  KL requires FS by August 31st!!!

  2nd Tuesday:
• MinFin submit Budget 2019 to Parliament (art. 38 NGAO)
• Gouverneur presents government policy (art. 46 Constitution )
October
* 15th: SOAB send opinion and report on annual accounts 2017 to MinFin and GAC (art 53.2 NGAO) if annual accounts are approved by CoM on 1st Sep
November

15th: Implementation memorandum Q3 2018 from MinFin to Parliament (NGAO art. 44) and CFT (art. 18.1 KL)

*30th: GAC report on annual accounts 2017 to Parliament, amongst others (art 53.3 NGAO) if annual accounts are approved by CoM on 1st Sep.
December

* 30th: MinFin deliver audit opinion, audit report  and draft ordinance on annual accounts 2073 to Parliament, if annual accounts are approved by CoM on 1st Sep -> Parliament decide on ordinance and decide on discharge of CoM (art 54 NGAO)

31st, the latest: Parliament approve Budget 2019 (art. 16.1 NGAO) -> Budget to CFT (art. 12 KL)