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12° Nicosia,
05 March, 2024
 
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How state members earn in semi-governmental boards

The fine print on semi-governmental officials' session fees

Maria Eracleous

Maria Eracleous

The monthly income for the president/member of a semi-governmental organization, derived from participating in the organization's sessions, averages around €400 to €500.

Additionally, there is an annual income of approximately €1200 for representation expenses. According to a June 2023 circular from the Ministry of Finance, the remuneration is structured as follows:

- €100 per session for the Administrative Boards of Semi-Governmental Organizations, where the General Manager/Executive President receives a salary equivalent to a Ministry General Manager. For other cases, the remuneration is €70 per session.

- In the case of members originating from the state or broader public sector, remuneration is applicable only for sessions conducted outside regular working hours. Payment for sessions starting within normal working hours is contingent on the session time exceeding the regular working hours.

Concerning subcommittees
It is important to note that the specified remunerations may also be disbursed for subcommittee sessions. With the approval of the relevant Minister, payments can be made for meetings/sessions with Ministers and/or General Managers on matters falling under the jurisdiction of the Administrative Board. Additionally, if a President or Board Member participates in two or more sessions/meetings on the same day, compensation is granted for only one session.

Travel allowance
Presidents and Members of eligible Administrative Boards hailing from cities outside the meeting location receive a travel allowance to cover transportation expenses. The travel allowance is set at €0.1709 per kilometer. For members from the state or broader public sector, a travel allowance is provided based on the regulations applicable in those sectors.

Representation expenses
Presidents of Administrative Boards of Semi-Governmental Organizations receive representation expenses amounting to €1,281.45 annually. These expenses are also extended to Presidents from the state or broader public sector. A person serving as President in two or more Administrative Boards receives representation expenses not exceeding €1,281.45 annually in total. It is worth noting that if a President's term ends before 12 months, they are entitled to a proportional amount of the representation allowance.

Deductions/taxation
Both the session fee and representation expenses are subject to taxation, while the travel allowance undergoes a proportional reduction based on the reduction specified for travel allowances in the public service.

It is emphasized that the remuneration received by both the President and the members of Semi-Governmental Organizations is not audited by the General Accounting Office but by the accountants or the CFO of each organization, based on the organization's budget approved by the Parliament.

[This article was translated from its Greek original]

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Cyprus  |  salary  |  audit  |  economy  |  government

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