The Budget Committee is established based on the Article 14(1) of the Financial Rules and Auditing Procedures applicable to the Transport Community.
The Budget Committee consists of members representing the Parties, signatories to the Treaty establishing the Transport Community, namely the South East European Parties and the European Union. Each of the South East European Parties nominates one member and the European Union, represented by the European Commission, nominates two members. One of the representatives of the European Union is Chairing the Budget Committee meetings.
In accordance with Article 36 of the Treaty and Article 16 of the Financial Rules, the primary responsibility for implementing the Budget lies with the Director of the Permanent Secretariat of the Transport Community Treaty.
The Budget Committee shall advise the Director on the financial management of the operations of the Transport Community. In carrying out its functions, the Budget Committee shall respect the independence of the Secretariat as an institution under the Treaty. In order to fulfil the advisory function, the Budget Committee shall be provided with all the necessary information or explanations regarding budgetary matters and matters with potential budgetary impact. The Director shall inform the Budget Committee on all matters related to financial management before they are brought to the attention of the Regional Steering Committee. The Budget Committee shall adopt recommendations in its advisory capacity.