Treasury
For the U.S. government securities, see Treasury security. Also see treasury management.
For the defunct chain of discount stores owned by JCPenney, see Treasury Stores.
The term treasury refers to a place in which
treasure is kept.
The term Treasury was first used in classical times to describe the votive buildings erected to house
gifts to the gods, such as the
Siphnian Treasury in
Delphi or the many buildings put up in
Olympia, Greece by competing city-states, to impress one another during the
Ancient Olympic Games.
The head of a Treasury is typically known as a
Treasurer. This position may not necessarily have the final control over the actions of the Treasury particularly if they are not an elected representative.
In the
United States, the Treasurer reports to an executive-appointed
Secretary of the Treasury. The
IRS is the revenue agency of the
US Department of Treasury.
In the
United Kingdom,
Her Majesty's Treasury is overseen by the
Chancellor of the Exchequer. The traditional honorary title of
First Lord of the Treasury is held by the
Prime Minister.
Her Majesty's Revenue and Customs administers the
taxation system.
In many other countries, the treasury is called the
Ministry of Finance and the head is known as the Finance Minister. Examples include
New Zealand,
Canada,
Malaysia,
Singapore and
Japan.
In
Australia a Treasurer and a Finance Minister co-exist. The Treasurer is responsible for drafting the government budget and coordinating government expenditure. The Finance Minister is responsible for government
procurement, policy guidelines for
commonwealth,
statutory authorities, and
superannuation policies.
*
Mint*
Treasurer (Kingdom of Hungary)*
Treasurer of Australia*
Provincial Treasurer*
Finance Minister
