Bank Board approves 2009 budget
At its meeting on 4 December 2008 the CNB Bank Board approved the CNB budget for 2009, totalling CZK 2,350 million (compiled at prices inclusive of value added tax). The planned budget is 9.3% higher than the expected 2008 budget outcome. The overall increase is mainly due to higher production of banknotes and coins. Operating costs should rise by 5.6%. The above increase also reflects a further expansion of the bank’s activities to include consumer protection in regulated entities and the costs related to the Czech Presidency of the EU. Average wage growth of 5% is assumed.
By law, the Czech National Bank manages its finances in compliance with a budget broken down so as to show clearly the investment expenditure and operating costs of the Czech National Bank. A total of CZK 140 million in investment expenditure and CZK 2,210 million in operating costs is planned for 2009.
The highest-volume investment expenditure items include: table> Název položky Částka Programové vybavení pro počítače - SW 43 mil. Kč Obalový materiál na bankovky a mince a další spotřební materiál 25 mil. Kč Výpočetní technika - HW 22 mil. Kč Technika pro úschovu, manipulaci a zpracování hotovostí 14 mil. Kč Zabezpečovací zařízení 11 mil. Kč
| Item | Amount |
|---|---|
| SW | CZK 43 million |
| Packing materials for banknotes and coins, and other consumables | CZK 25 million |
| HW | CZK 22 million |
| Cash storage, handling and processing equipment | CZK 14 million |
| Security equipment | CZK 11 million |
The highest-volume operating cost items include:
| Item | Amount |
|---|---|
| Currency issuance and management (banknote and coin purchases from external sources) | CZK 527 million |
| Salaries and mandatory insurance contributions | CZK 1,168 million |
| Contracted services - of which: computer support | CZK 134 million CZK 58 million |
| Asset repairs and maintenance - of which: premises repairs and maintenance computer maintenance and servicing security equipment repairs and maintenance | CZK 112 million CZK 38 million CZK 27 million CZK 24 million |
| Telecommunication charges | CZK 56 million |
| Energy consumption | CZK 53 million |
The Czech National Bank covers its necessary operating costs from its income and does not constitute an expenditure chapter of the state budget. The Czech National Bank regularly submits annual financial reports to the Chamber of Deputies (the lower house of the Czech parliament) for review. For several years now, these annual reports have also been published regularly on the CNB website.
Pavlína Bolfová, CNB spokesperson