U bevindt zich op: Home › Subjects › Budget › Budget day and Accounting day Huidig dossier: Budget day and Accounting day

Accounting Day

The third Wednesday in May is the fixed, traditional day on which the Minister of Finance presents the National Financial Annual Report [FJR] and the ministerial annual reports to the House of Representatives. Just as the national budget and the Budget Memorandum are presented in a briefcase on Budget Day, the national annual report and National Financial Annual Report are also presented in a special briefcase on the third Wednesday in May. The annual report also states what has been realized in the past year in respect of the budget submitted a year and a half earlier on Budget Day. In order to emphasize the importance of the annual report the Minister also carries a special suitcase to the House of Representatives.

Why the third Wednesday in May?
Since 2000 the National Financial Annual Report is presented to the House of Representatives. Before, the Financial Annual Report and the ministerial annual reports - then known as 'Financial Accounting' - were only sent to the Lower House in September. In an ordinary envelope. In September, the House is always busy with the debate on the budgets of the ministries for the following year and has little time to look back on the previous year. Showing what you have attained is just as important as showing what your plans are. At the House's request, the annual report is therefore presented much earlier now, in May. This gives the members of parliament more time to exercise their supervisory task and the cabinet may incorporate the House's opinion on the annual report in the new budget submitted on Budget Day, the third Tuesday of September.

The fact that it is the third Wednesday naturally has to do with its connection with the third Tuesday. They wished to introduce the same tradition upon the presentation of the National Financial Annual Report as upon the presentation of the Budget Memorandum: a fixed day and a special briefcase.

Where does the name Accounting Day come from?
The answer to that question is easier to give than the answer to the question where the name 'Prince's Day' comes from. On the third Wednesday in May account is rendered for the public finances. Have we attained what we intended to attain and within the budget?

What is in the briefcase?
The briefcase of the third Wednesday in May contains the National Financial Annual Report and some annual reports of ministries. Like the briefcase of the third Tuesday of September, not all documents fit in the briefcase. The other documents are therefore sent separately to the House of Representatives.