state annual accounts, financial statements, Government
As provided in section 46 of the Constitution, the Government submits to Parliament a report on the State annual accounts and information on the management of government finances and compliance with the budget including measures taken by the Government in response to the resolutions passed by Parliament.
More detailed provisions on the report on the state annual accounts are set out in section 9a of the Government Act (715/2003) and sections 17 and 18 of the State Budget Act (42371988). Section 18 of the State Budget Act stipulates that the state annual accounts and information on the central government finances and the State’s financial management and operative performance included in the report on the State annual accounts shall provide true and fair information on compliance with the budget, State revenues and expenditure, the State’s financial position, and performance (true and fair view). Legislatively, the contents of the report are more specifically governed by the requirements laid down in the State Budget Decree (1243/1992).
The State annual accounts for 2019 consist of five parts: the state annual accounts; Annex 1 Financial performance by ministries; Annex 2 Financial statements; Annex 3 Measures taken in response to statements and opinions issued by Parliament; and Annex 4 State corporate holdings, government undertakings and off-budget funds.
In early 2020, Europe was hit by a pandemic caused by the COVID-19 virus originating from China. In Finland, the first measures to contain the virus were taken in March 2020. Both the epidemic and the restrictions imposed in response to the virus have had extensive operational and financial implications for several sectors of society both in the short and long term. These state annual accounts will not address the situation during the pandemic or make any projections as to the future. As the accounts provide an overview of developments in 2019, the impacts of the COVID-19 pandemic are not reflected in this report, for example in terms of risk assessments or the overall economy.