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Expenses for Azerbaijani Chamber of Accounts in 2020 disclosed

Finance Materials 12 January 2021 13:06 (UTC +04:00)
Expenses for Azerbaijani Chamber of Accounts in 2020 disclosed

BAKU, Azerbaijan. Jan.12

By Zeyni Jafarov - Trend:

Expenses for maintaining the Azerbaijani Accounts Chamber in 2020 amounted to over 7.3 million manat ($4.3 million), Trend reports referring to data about implementation of of the chamber's cost estimates.

According to the chamber’s data, cost estimates for its maintenance were approved on the level of 8.9 million manat ($5.2 million) for the past year. For the reporting year, the level of disbursement of funds amounted to 82.2 percent. The main volume of funds for 2020 was directed to the payment of salaries to the staff of the chamber. Their volume amounted to 4.78 million manat ($2.81 million), or 65.2 percent of all expenditures of the chamber for all quarters of the year.

In addition, compulsory state insurance contributions for the reporting year amounted to 1.21 million manat ($710,000) or 16.5 percent of all expenses, the salary of freelance workers – 65,200 manat ($38,350), the costs of other cash payments related to the payment of salaries were estimated at nearly 690,000 manat ($405,880) or 9.4 percent of all expenses of the chamber. Expenses for travels within the country amounted to 9,800 manat or $5,760 (implemented by 33.9 percent), and for business trips abroad - 3,020 manat or $1,780 (43.2 percent). Intangible assets were executed by 96.2 percent in the amount of 70,200 manat ($41,290).

The Accounts Chamber of Azerbaijan was created by the country’s parliament and started its activity in 2001. The chamber is the supreme body of financial control of Azerbaijan.

(1 USD = 1.7 AZN on Jan.12)

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