The financial management of the RDF is acting on the basis of its own revenue and expenditure budget, which is approved by the Board of Directors of the Fund upon the recommendation of the chairman.
The Fund has its own cash service, acts on receipts and payments, has the responsibility for the management of its financial resources and its chairman is the chairman.
The Funds do not burden the State Budget for their operation. Their expenses are covered by the provided services. The resources of the Regional Fund are:
- 1% of the managed funds.
- Income from fees, royalties and contributions.
- Revenue from participation in EU programs.
- Revenue from the provision of services, execution of work, research, studies and programs.
- Revenue from any kind of subsidy.
- Revenue from donations, bequests, inheritances.
- Revenue from the Fund’s assets.
- Revenue from any other source
For accounting purposes, it applies the double-entry system, applying the General Accounting Plan, adapted to its needs, and has a specialized software system for monitoring its financial management.
Following the New Update of the Register of General Government Bodies of the Hellenic Statistical Authority in October 2012, the Regional Development Funds were included in it, thus acquiring all the obligations of the General Government Agencies.
The Regular Control of RDFs done by Certified Public Auditor or by the Court of Auditors.
Exceptional control of RDFs can be done:
-By certified public auditors elected from lists submitted by the SOEL by decision of the Minister of the Interior, Public Administration and Decentralization
From a three-member Audit Committee consisting of the President of the Court of Auditors of the Region, a civil servant with experience in financial management and a certified public auditor.
- By inspector of the Ministry of the Interior, Public Administration and Decentralization. The Audit Committee or the Inspector shall be appointed by decision of the Minister of the Interior, Public Administration and Decentralization.