Law:The 50th Cosa Budget Act

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This law is currently
IN FORCE

It amends the following:
El Lexhatx

Ziu 50th Clark 2nd
Sponsored by: Ian Plätschisch

Cosa.png Cosa: PASSED
PER 125 — CON 50 — AUS 13

Senats.png Senäts: PASSED
PER 6 — CON 1 — AUS 1

Digest of Laws

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50RZ12, The 50th Cosa Budget Act

WHEREAS, as per Lex.D.2.1.5,


2.1.5. The Seneschal (or, if the Seneschal is not a Member of the Cosa, an MC designated by the Seneschal) shall be required to submit to the Ziu, in time for consideration by the second Clark of the Cosa, a government bill approved by the whole Cabinet which shall contain the following:
2.1.5.1. a detailed budget listing all planned expenses of the State through the current Cosa, specifying the amounts to be requisitioned for each Cabinet Ministry or Officer of the Royal Household and the purpose of each such expense;
2.1.5.2. any amount of the Treasury to be set aside for investment as directed by the Finance Minister and the investment policy that will be pursued;
2.1.5.3. the total amount in louise of any planned currency minting and printing, and postage issuance to be executed by the Royal Bank & Post during the term of the current Cosa.
2.1.5.4. the total amount in louise of any planned donations proposed to be requested from Talossan citizens towards the upkeep of the State. This section shall not entitle any budget to impose compulsory taxation or mandatory donations of any kind.

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:

Funds:

$1,990.21 Kingdom of Talossa savings account, held in trust by Burgermeister of Inland Revenue Istefan Perþonest.
$ 53.04 Kingdom of Talossa PayPal account for online transactions (stamps@kingdomoftalossa.net).

Non-monetary assets:

$ 228.50 Value of 577 0¤20 stamps in circulation
$ 961.50 Value of 1,923 unsold 0¤20 stamps held by Burgermeister of Inland Revenue

Printing & Minting Transactions:

ℓ0 ($0 USD) None.

Changes to balance since Feb 13, 2016

-$192.56 Donation to GiveDirectly
-$20.00 Donation to IFES.org
$61.00 Party fees and party donation to cover PayPal fees
-$0.60 PayPal fees on Party Donations
$42.90 Sale of 74 stamps plus shipping charges
-$2.79 PayPal fees on stamp sales
-$5.90 Payment to Istefan Perþonest for US postage to mail stamps
$2.05 Interest earned on bank account

Additional Change:

$87.52 Net transfer from PayPal account to bank account

Current value of the Louis:

1.50 USD, 1.97 CAD, 1.21 GBP, 1.42 EUR
1.51 CHF, 2.08 NZD, 1.95 AUD, 168.27 JPY
10.31 RMB, 5.62 SAR, 1697.04 KRW, 1350.00 KPW


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:

PRIME MINISTRY Purchase of a Seneschal's Chain of Office - 33¤20 ($50 USD) Purchase of a 3' x 5' Talossan Flag to be displayed at events and for any future purpose - 46¤40 ($70 USD) Miscellaneous expenses - 16¤40 ($25 USD)

FINANCE MINISTRY Minting of coins - up to 766¤40 ($1150 USD; ~$350 die costs, ~$750 coin costs, up to $50 S&H) Miscellaneous expenses - 33¤20 ($50 USD)

MINISTRY OF STUFF Webhosting fees - ℓ150 ($225 USD)

INTERIOR MINISTRY Miscellaneous expenses - 16¤40 ($25 USD)

FOREIGN AFFAIRS MINISTRY Miscellaneous expenses - 16¤40 ($25 USD)

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:

2.8.2.3.1 Current Token Design. The first issue of Talossan collectable tokens ("coins") shall have, on the obverse, the Chinese character "ben" upon a shield, with a crown above the shield; above the crown shall be the curved inscription "REGIPÄTS TALOSSÁN", and below the shield shall be the curved inscription of the year of issue (both the Common Era in Arabic numerals and the year of the Kingdom of Talossa in Roman numerals). On the reverse shall be an image of a dandelion, a large "ℓ1", and the inscription "VIENS LUÏÇ".

is amended to read:

2.8.2.3.1 Current Token Design. The first issue of Talossan collectable tokens ("coins") shall have, on the obverse, the Chinese character "ben" upon a shield, with a crown above the shield; above the crown shall be the curved inscription "REGIPÄTS TALOSSÁN", and below the shield shall be the curved inscription of the year of issue (both the Common Era in Arabic numerals and the year of the Kingdom of Talossa in Roman numerals). On the reverse shall be an image to be determined by the Royal Bank and Post representative of some aspect of Talossan culture, a large "ℓ" with an amount representing the coin denomination being minted, and an inscription of the denomination of the coin in the Talossan language.


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.

Noi urent q'estadra så:

Ian Plätschisch - (MC - MRPT)
Lüc da Schir - Seneschal (Senator - BE)
Munditenens (Dien) Tresplet - Finance Minister (Senator - MA)