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Coordinating the regional treasuries

On 3 December 2003 the Government of the Brussels-Capital decided to go ahead with the foundation of a Financial Coordination Centre (FCCB). It also decided on its general operating principles. On 19 February 2004 the order with regard to the creation of the FCCB was approved. The FCCB was set up to serve the Ministry of the Brussels-Capital Region which is part of the Finances and Budget Authority.

Following the organic order of 23 February 2006 as regards terms applying to the budget, bookkeeping and inspection, the FCCB is to become an instrument for the Region's financial management. This order also means that each autonomous governmental body (AGB) will automatically be integrated in the FCCB.

In this way, in 2012, the body regulating energy in Brussels BRUGEL and the non-profit organisation IRISteam have joined the FCCB, on 1 January and 1 July respectively.

In 2013 two new institutions were included in the FCCB, namely the Regional Parking Agency on 1 July and the Housing Fund on 1 October.

The Brussels Region Commercial Agency (Atrium) joined the FCCB on 1 April 2015.

There are currently 17 institutions participating in the FCCB :

Brussels Enterprise Agency

Impulse

Brussels-Capital Department for Fire Fighting and Urgent Medical Assistance

DBDMH

Brussels Gas Electricity

BRUGEL

Brussels Regional Employment Service

ACTIRIS

Brussels Regional Housing Association

BGHM

Brussels Institute for Environmental Management

Environment

IT Centre for the Brussels Region

CIBG

Economic and Social Council for the Brussels-Capital Region

ESABTHG

Regional Cleanliness Agency

Net Brussel (Clean Brussels)

Regional Development Company for the Brussels-Capital Region

Citydev

Regional Parking Agency

Parking

Regional Authority of the Port of Brussels

GVHB

Brussels Institute for the Promotion of Scientific Research and Innovation

Innoviris

IRISteam vzw

IRISteam

Company for Intercommunal Transport in Brussels

MIVB

Housing Fund

Housing Fund

 

The general operating principles of the FCCB are as follows:

  • centralising the treasuries of the participating institution via notional cash pooling;

  • just-in-time funding of expenditure at the institutions via a system for automatic transfer from their transit account to their own account;

  • creation of a consolidated treasury planning based on the institution's treasuring planning;

  • evaluation by the FCCB of the quality of the financial flows from the institutions, as well as the quality of their cash forecasts;

  • calculation and allocation of an annual grant for sound financial management;

  • respect for the independence of the institutions, on the one hand, advice from the FCCB to improve their financial management on the other.

 

More information in our annual report