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Fonds régional bruxellois de refinancement des trésoreries communales

Fonds régional bruxellois de refinancement des trésoreries communales
Communes that experience financial difficulties may apply for a loan from the Fonds de refinancement des trésoreries communales (FRTC, Brussels regional fund for refinancing the communal treasuries). The FRTC is an "autonomous administrative body of the first category" under the Minister in charge of local authorities. When they apply for a loan the communes must submit a financial plan. The regional inspectors are tasked with ensuring the proper application of the loan agreement.

Assistance in the event of difficulties

The FRTC awards loans to communes experiencing financial difficulties. The purpose of these loans is to help the local authorities to wipe out their deficits and stabilise their finances. The communes may also call in the FRTC to coordinate the communal activities, as happened in 1995 when several hospitals where restructured within the IRIS structure.

Better financial management

To be eligible for a loan the commune must draw up a financial plan stating the steps it will take to achieve a structural improvement in its financial situation. The calculations must be sent along with the application to the Government of the Brussels-Capital Region, which is responsible for approving the financial plan and the associated loan agreement.

Regional control mechanisms

Loans of the FRTC run for a 20-year term with a fixed annual due date. The loan agreement describes the control measures associated with the loan. The regional inspectors check the application of the loan agreement throughout the 20-year term.

The FRTC’s remit was widened in 2002, when it became the "financial coordination centre" for the communes and the CPAS branches of the Brussels-Capital Region.

Contact:

The FRTC is managed by the Director General of Brussels Local Authorities
Brussels Regional Public Service
Brussels Local Authorities
Boulevard du Jardin Botanique 20, 1035 Brussels
Phone: +32 (0)2 204 21 11
Email: apl@sprb.brussels
Online: www.pouvoirslocaux.irisnet.be (FR/NL)

Financial management tasks and the role of financial advisor were assigned to Brinfin, a subsidiary of the Brussels Regional Investment Company (BRIC), in the form of an agency contract with the Government of the Region.
Brinfin - SRIB
Rue de Stassart 32, 1050 Brussels
Phone: +32 (0)2 548.22 11
Email: info@srib.be
Online: www.srib.be (FR/NL)

Legal basis:

The Fonds régional bruxellois de refinancement des trésoreries communales was created by the Order of 19 March 1993, amended by the Order of 2 May 2002. The Ministerial Decree of the Government of the Brussels-Capital Region of 27 June 1994 entrusts the financial management tasks to the Brussels Local Authorities (formerly Administration des Pouvoirs locaux) of the Brussels Regional Public Service (formerly Ministry of the Brussels-Capital Region).