Fonds LK-NA/66 - The Treasury

The Treasury was established in 1806 as a Sub-Institution under the Controller of Revenue. In 1834, on the instructions of the Treasury Commission of 13th May 1831, it was up graded to a major institution. The Colonial Treasurer, who was class 1 civil servant was appointed as Account General and the minute of March 15, 1907. He was also a ex-officio member of the Executive and Legislative Councils. In 1931, with the Implementation of Dounghmore reform the office of Financial Secretary was created by the Ceylon (State Council) order in council of 1931. In 1951, the Treasury was divided into, three separate divisions with defined functions. The divisions were Supply and Cadre, Establishments, and Book Keeping, Accounting and payments. First two divisions were under two controllers and the third division was under a Financial Assistant and an Accountant. The new functional arrangement of the Treasury increased the responsibilities of the controllers.
The function of the Colonial Treasurer were to be in charge of all public money accrued as the Colonial Revenues, or paid into the Treasury under the General Regulations of the Government or by special orders of the Governor. It was the responsibility of the Treasury to being accounts of the government under proper heads: by providing adequate safeguard to all public money, stamps and securities. No disbursements were allowed to the Treasurer without a warrant or other written authority from the Governor. All surcharges made against Government officers were recovered by the Treasurer. Moreover, Treasurer was responsible for the correctness of the Treasury Book of Accounts, and to give such instructions to his subordinates as may be necessary for their guidance.
In 1948, The Treasury was brought under the Ministry of Finance and its functions were interwoven with the Ministry of Finance. The permanent secretary to the Ministry of Finance was appointed as the Secretary to the Treasury. Structure of the Treasury at Independence, comprised of the controller of Finance and Supply, and the Controller of Establishments. These two departments formed the most important wings of the Treasury.
After Independence, The Treasury which functioned as the guardian of the island's Finance, it introduced, rules for the Economic stability and administrative efficiency of the country. The Finance wing of the Treasury was responsible for the coordination of expenditure of all departments, and set priorities in the sphere of expenditure. It initiated fiscal policy measures and collected the revenue through the departments which engaged in that task. Control over the departmental estimate was also exercised by the Treasury.
The overall objective of the General Treasury is to determine the Fiscal and budgetary policy of the Government, in consultation with the other relevant authorities and co-ordinate the execution of such policy with other financial entities. Today the Treasury, is charged with the following responsibilities: Determination and implied mention or government fiscal policy: formulation, execution and control of the national budget and other appropriate measures: centralised control and supervision of raising and collection of revenue and other charges and dues, Supervision and control and the consolidated fund abed other Funds and accounts of the Government, organisation and channelling of external resources: General oversight of financial operations: Supervision of public Enterprises: regulation of the Insurance Industry: and General Administration of the Sri Lanka Accounts' service. In order to discharge the above responsibilities, the General Administration Division: Budget Division; Accounts and payments Division: Finance Divisions: Economic Affairs Division, Fiscal policy Division: External Resources Division: Public Enterprises Division: Commercialisation Division: Internal Audit and Investigation Division, procurement and Advisory Service Unit: Insurance Division,
All the Treasury Divisions and the Ministry of Finance are serviced by the central administration branch which is entrusted with the tasks of providing staff, machinery and equipment, transport facilities.