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This section includes ITC economic information, annual accounts, likewise up-to-date budget information.
ITC, as a body with an estimated budget integrated in the Autonomous Community of the Canaries ‘ General Budgets is affected by having to comply with the budgetary stability goals assigned to the Canaries. Therefore, any budget amendment requires the Government’s prior authorisation at the behest of the Department ITC is assigned to, the capital and operation budgets, prior report from the Canary Government General Directorate of Planning and Budgets.
Nevertheless, it is the head of the department to which ITC is assigned to authorise the variation due to execution of a project, agreement or assignment of own means which generate unforeseen income in the capital and operation budgetary allocations, unless they affect personnel expenditure included in the latter.
The Autonomous Community General Budgets are drafted pursuant to the regulations constituted by Organic Law 2/2012, of 27th April on Budgetary Stability and Financial Sustainability, and in particular they will adjust to the goal of budgetary stability, public debt and GNP growth reference rate in the medium term for accountable expenditure variation.
When the accountability report, reports or audits evidence a situation of asset, economic or financial imbalance, ITC shall remit a feasibility and restructuring plan within one month from the event evidencing the situation of imbalance.
The feasibility and restructuring plan will be jointly approved by the Tax Department head and head of the department ITC is assigned to.
Should the feasibility and restructuring plan not be remitted or the measures proposed not considered appropriate, or after approval of the plan, the measures planned therein were not adopted to correct the imbalance; contributions, subsidies and assignments cannot be made to the body in question. Furthermore, the Tax Department could retain contributions of any kind when notified and the imbalance correction is enabled.
Anual Accounts
General Budgets
Update Date: December 31th, 2019.
Frequency: Every time regulations are updated.
Information type: Institutional.
