Kativik Regional Government

Treasury

The duties of the Treasurer, who is appointed by the KRG Council, are stipulated in sections 308 through 314 of the Act respecting Northern Villages and the Kativik Regional Government. Specifically, the Treasurer directs the treasury of the KRG, collecting all moneys payable to the KRG and, subject to all other legal provisions, depositing them in the legally constituted bank, financial services cooperative or trust company designated by the Council until they may be employed for the purposes for which they were levied or received, or until disposed of by the Council. Within 30 days of the end of the KRG fiscal year, the Treasurer prepares audited financial statements in collaboration with an independent auditing firm. For these purposes and in cooperation with the Director General, the department directors and the Executive Committee, the Treasurer establishes and submits to the Council before the start of each year an annual budget and regularly follows up on the organization’s financial situation with reports to the Council, the Executive Committee, the Director General and the department directors.