Translation. Region: Russian Federation –
Source: Official website of the State –
An important disclaimer is at the bottom of this article.
December 8th marks Treasury Day in Russia—a professional holiday for the employees of the federal agency responsible for the safeguarding, distribution, and transparent use of funds in the country's budget system. The date was chosen for a reason: on December 8th, 1992, President Boris Yeltsin signed the decree establishing the Federal Treasury. This marked the first step toward reviving an institution whose history stretches back to ancient times.
State services: the beginning
Even in Ancient Rus', the position of treasurer existed at princely and boyar courts—the custodian of the household's wealth, responsible for preserving property and income. Under Ivan III, state-owned courts were established, and in 1710, Emperor Peter I established the Accounting (Treasury) Office, which oversaw tax collection.
In 1775, Catherine II ordered the creation of treasury chambers in each province to manage the Imperial Majesty's revenues. Under Alexander I, the 1802 manifesto established three financial departments, including the State Treasury, and in 1821, the Department of the State Treasury, the center of all treasury services in the Russian Empire, was established within the Ministry of Finance.
After the October Revolution, the State Treasury was abolished in 1918. Its functions were transferred to the People's Commissariat of Finance, and later to the Ministry of Finance of the USSR and the State Bank.
Recent history
The revival of the treasury in modern Russia began in 1992. Initially, it was part of the Ministry of Finance, but in 2005 it was transformed into a separate federal service under the Ministry of Finance. By 2002, the vertical structure was completed: 89 directorates and over 2,200 offices were established across the country. In 2000, the Budget Code of the Russian Federation enshrined treasury budget execution—the principle that underlies the modern budget system.
In 2011, the official symbols of the Treasury—a heraldic emblem, a flag, and a pennant—were approved. And in 2017, to mark its 25th anniversary, the Bank of Russia issued a commemorative silver coin, "Treasury of Russia."
Today, the Federal Treasury oversees compliance with budget legislation, distributes revenues between levels of the budget system, and provides cash services to regional and local budgets. Since 2007, the agency has been headed by Roman Artyukhin, a graduate of the State University of Management, Honored Economist of the Russian Federation, and recipient of high state awards.
"From princely wrought-iron chests to digital budget flow monitoring systems, the core mission has remained unchanged: to preserve, distribute, and prevent the waste of budget funds. One of the primary goals of our university community has always been and remains the development of specialized educational programs, the development of advanced specialized technologies, and the training of highly qualified personnel, including to strengthen financial discipline and transparency in public finances," noted Vladimir Stroyev, Rector of the State University of Management.
We sincerely congratulate everyone involved on their professional holiday—Treasury Day! We wish you health, energy, prosperity, and success in increasing the wealth of our country!
Subscribe to the "Our GUU" Telegram channel. Publication date: December 8, 2025.
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