The sections of this page refer to public accounts, which are included in the documents and acts in the form of laws envisaged by the reference legislation on the State accounting system (Law no. 30 of 18 February 1998 and subsequent amendments). These State accounting documents show State administration’s revenues (such as, for example, revenues from taxation) and expenditures (public spending) relating to a given financial year.
In compliance with the general principles set out in Law no. 59 of 8 July 1974, ”Declaration of the Citizens' Rights and Fundamental Principles of San Marino Legal System”, the Republic of San Marino carries out its legislative and administrative action in the economic, financial and social spheres through planning, scheduling and monitoring activities, based on the principles of effectiveness and cost-efficiency. This is achieved after determining and allocating competences and responsibilities to different decision-making and management levels.
In accordance with Article 13 of Law no. 30 of 18 February 1998 and subsequent amendments, the Economic Programme sets out the Government’s economic and financial policies for the short and medium term and establishes action priorities. Therefore, it is a planning document drafted by the Government and sets out San Marino’s economic policy priorities for each financial year.
The document shows aggregate financial resources that can be used to achieve the planned objectives, based on the results of the previous financial year and the financial performance of the current year.
The Government’s actions and the Budget Law (Budget of the State and of the Entities of the Overall Public Sector) are based on the Economic Programme.
The Economic Programme must be prepared and outlined by the Minister of Finance and Budget and submitted to the Permanent Parliamentary Commission for Finance and Budget within the second ten days of July of the year preceding the financial year in question.
Download the latest ECONOMIC PROGRAMME SUBMITTED pursuant to Law no. 30 of 18 February 1998, Title II, Section II:
2026 ECONOMIC PROGRAMME
Previous Economic Programmes are listed below.
The State budget is a document that is prepared on an annual and multi-year basis, in the form of a law. Through this document, the Great and General Council authorises the Government to draw on and use the public resources necessary for implementing public policies and the State's administrative activities. Therefore, it is the main accounting document for allocating, managing and monitoring the State's financial resources.
In accordance with the provisions of Law no. 30 of 18 February 1998 and subsequent amendments, the State General Accounting Office drafts it annually with a three-year horizon (although the allocations constitute limits to spending authorisation only for the first year) on the basis of the Economic Programme. The State budget is supplemented by any comments made by the Permanent Parliamentary Commission for Finance, as well as by any indications received from the Ministry of Finance and Budget. It is prepared by 30 September each year. The draft budgets, accompanied by the opinions obtained as described above, are adopted by the Congress of State and subsequently transmitted to the Great and General Council by the Minister of Finance and Budget within the second ten days of November of each year, together with the draft budget law and the draft budgets of the entities of the overall public sector.
Such budgets are approved with a budget law by 31 December of each year.
Pursuant to Article 25 of Law no. 30 of 18 February 1998, as amended, in the period between 1 April and 31 October of each year and after the competent bodies have completed all the procedures required for the preparation of the budget, the Congress of State, upon proposal of the Minister of Finance and Budget, has the power to submit to the Great and General Council a special draft law to adjust the annual budget.
During a financial year, in cases of proven and urgent need, the Congress of State, through the Minister of Finance and Budget and on the recommendation of the Department Councils, has the power to order transfers of funds between chapters belonging to the same expenditure title and to the same Department, after having heard the mandatory opinion of the Commission for the Control of Public Finance, in order to ensure an effective and efficient management.
Transfers made pursuant to the preceding paragraph shall not jeopardise the achievement of a balanced budget and shall be definitively formalised when the budget adjustment proposal referred to in the first paragraph of this Article is submitted or when the State General Report on Accounts is approved.
The General Report on Accounts summarises and shows the final results of the management of the annual State budget, compared to the forecasts in the budget. The General Report on Accounts of a financial year consists of the following documents:
(a) the financial account;
(b) the accounts receivable and payable;
(c) the profit and loss account and the balance sheet;
d) the annual summary of cash flows.
The link between the financial account and the other parts of the General Report on Accounts is made possible by special instruments provided for in Law no. 30 of 18 February 1998, as amended.
It is therefore an accounting document that summarises and demonstrates the operating results of the last completed financial year. Such management is verified a posteriori by analysing the operations actually carried out, compared to those envisaged in the budget for the financial year in question.
