The Treasury Department of the Velocity Interoperability Network has been formally established and today launches its official website at treasury.gov.vin.
About the Department
The Treasury Department of the Velocity Interoperability Network manages the finances of the Network. It prepares the annual budget, assesses and collects the contributions of member organisations, holds the common fund of the Network, and keeps and publishes its accounts.
The Department was established on 6 September 2026. On its first day it has published the transitional budget for the remainder of the year, the opening statement of financial position and the allocation to each department of the Network.
Services
- Budget
How the annual budget of the Network is set, approved and published, and the transitional budget for 2026.
- Member Contributions
How contributions are assessed for each member organisation, how they are paid, and the register of contributions received.
In figures
- 14.49m
- Credits in the transitional budget for 6 September to 31 December 2026
- 42
- Member organisations in three contribution bands
- 11.55m
- Credits received in advance from thirty-one founding members
- 5
- Budget lines, including a reserve fund of one tenth of annual expenditure
Latest announcements
All news- Transitional Budget for the Remainder of 2026 Published
The Department has published the transitional budget of 14,490,000 credits that funds the Network from establishment on 6 September to 31 December 2026.
- Timetable for the First Annual Budget Confirmed
The draft budget for 2027 will be circulated to member organisations on 1 October 2026 and laid for approval on 1 December 2026.
- Advance Contributions Received from Thirty-One Founding Members
Thirty-one of the forty-two member organisations paid their transitional contribution before establishment, placing 11,550,000 credits in the common fund of the Network.
Guidance and reporting
- Spending
How expenditure is authorised, the statement for the transition period and the allocation to each department.
- Accounts
The opening statement of financial position, the accounting policies and how the year is closed and audited.
- The Common Fund
How the fund is held and controlled, its movements week by week during the transition period, and the rules for the reserve fund.
- The Financial Year
The dates by which the budget, assessments, instalments and accounts fall due, and the dates for the first year.
- Estimates
Guidance for departments preparing their estimates for 2027, with the form of the estimate and the timetable.
- Fees and Charges
The schedule of twenty-three fees charged by departments, how a fee is set and the income expected in 2026 and 2027.
- Frequently Asked Questions
Short answers on bands, instalments, reviews, the reserve fund and the publication of accounts.
- History
How the Network came to have a common budget, a common fund and a single set of accounts.
Milestones
10 August 2026
Transitional budget agreed
The founding members agree a budget of 14,490,000 credits for the period to 31 December 2026, and the interim finance office opens the ledger.
6 September 2026
Department established
The Department takes over the ledger and the common fund, and publishes the transitional budget and the opening statement of financial position.
1 October 2026
First draft budget circulated
The draft budget for 2027 goes to every member organisation, with comments accepted until 31 October.
30 April 2027
First audited accounts
The audited accounts for 10 August to 31 December 2026, with the report of the Audit Office, are published on this site.