Finance Bureau
Historical Background
The Finance Bureau, formerly known as the Treasury under the Thai Red Cross Central Division's supervision, was founded under the 1918 Siam Red Cross Society Act. The first treasurer was Major General Phraya Sirsanrajapakdi. In 1942, three years after the Siam Red Cross Society changed its name to the Thai Red Cross Society, the Treasury was replaced by the Finance Department under the Central Bureau's supervision. At a meeting on 10 March 1989, the Thai Red Cross Board of Directors agreed that the name be changed again to the Finance Bureau, but it wasn't until December 1996 that this finally happened.
Responsibilities
Previously, under Article 7, the Treasury Department was responsible for making all payments and overseeing all of the Society's assets. The Treasurer was responsible for all activities involving payments and for protecting the Society's benefits. Payment regulations and procedures were to comply as closely as possible with the rules and regulations of the Royal Treasury Ministry.
The Department was charged with managing the Society's accounts and preparing regular balance sheets.
Later, the Treasurer was put in charge of money raised through fundraising activities, from public contributions and from payment of single and life-time membership fees. Today, the Bureau is responsible for managing Society revenues derived from the following sources:
1. Government subsidies.
2. Contributions and annual membership fees.
3. Income from interest on savings accounts and from investment in corporate and government stocks and bonds.
4. Other sources.
When the Treasury Department was upgraded to the Finance Bureau, its scope of responsibilities was also enlarged to include supervision of the Society's finances and accounting, budgeting and inventory. The Bureau is also in charge of overseeing investment of funds and property belonging to the Society, and in this regard, it looks for safe investments that yield maximum benefit for the Thai Red Cross.