Treasury Department of the Velocity Interoperability Network Established

The Treasury Department of the Velocity Interoperability Network has been formally established. The Department is responsible for preparing the annual budget of the Network, for assessing and collecting the contributions of member organisations, and for keeping and publishing the accounts of the Network.

With its establishment complete, the Department today launches its official website at treasury.gov.vin. The site sets out how the budget is prepared and approved, how member contributions are assessed and paid, and the dates on which the accounts of the Network will be published each year.

The first annual budget will be laid before the member organisations for approval in the coming months. Assessment notices for the first financial year will be issued to members once the budget is approved, and audited accounts will be published on this site at the close of the year.