Treasury corrects the 2025 settlement: negative remainder of 3.973 billion

The Department of Economy, Finance and Public Administration has corrected the budget liquidation of the Generalitat for the 2025 financial year to amend errors in the calculation of financing deviations. The rectification is published in the Official Gazette of the Generalitat Valenciana (DOGV) no. 10477, dated October 23, 2026, under official reference DOGV-C-2026-33078, leaving the total treasury surplus at -3,973,323,135.62 euros and the adjusted budget result at -50,107,238.58 euros.

The origin of the operation dates back to February 20, 2026, when the Consell took note of the 2025 budget liquidation carried out by the General Comptroller on February 12, 2026, as detailed in annexes I and II of the agreement. Pursuant to Article 34 of Decree 77/2019, of June 7, of the Consell, regulating the budget management procedure of the Generalitat, the liquidation was published via the Resolution of February 23, 2026, by the Minister of Economy, Finance and Public Administration (DOGV 10313, of March 2, 2026).

Subsequently, the General Comptroller reported the existence of errors in the amounts of annex II regarding the calculations of financing deviations, which exclusively affect the calculation of the treasury surplus. The correction is supported by Article 109.2 of Law 39/2015, of October 1, on the common administrative procedure of public administrations, which allows for the rectification of material, factual, or arithmetic errors at any time, and Article 34.3 of Decree 77/2019. The text bears the signature of Minister José Antonio Rovira Jover in Valencia, on October 20, 2026.

The adjusted result remains at 50.1 million negative

The correction does not alter the adjusted budget result for the year, which remains negative at -50,107,238.58 euros, as derived from the liquidation annexes noted by the Consell in February. The adjustment is limited to annex II—that is, the statement of the treasury surplus—meaning that the declared budget imbalance and the corrected treasury balance coexist in the same official document.

The published annex reproduces the comparison between 2025 and 2024. The total treasury surplus goes from -3,611,396,042.79 euros in 2024 to -3,973,323,135.62 euros in 2025, a deterioration of over 361 million euros in a single financial year.

A balance burdened by 5.008 billion in outstanding payment obligations

The surplus statement allows for the reconstruction of the balance item by item:

• Liquid funds: 957,853,314.87 euros, compared to 1,166,123,923.55 euros in 2024.
• Pending receivables: 487,121,715.19 euros, of which 155,309,034.56 correspond to the current budget and 329,259,477.60 to closed budgets.
• Pending payment obligations: 5,008,817,735.05 euros, with 3,383,290,647.18 from the current budget, 496,251,761.82 from closed budgets, and 1,129,275,326.05 from non-budgetary operations.
• Pending application items: -409,480,430.63 euros.

With these components, the resulting total treasury surplus is -3,973,323,135.62 euros, the figure that the General Comptroller (Intervención General) has corrected and which is now published in full in the DOGV.

The unaffected surplus falls to 5,399.7 million negative

The annex also incorporates the adjustments that separate the available balance from the committed balance. The excess of affected financing stands at 1,234,243,761.45 euros, below the 1,550,969,306.96 euros of 2024, while the doubtful debt balance amounts to 192,147,748.06 euros, practically stable compared to the previous year (191,515,535.07).

After subtracting both magnitudes, the unaffected treasury surplus stands at -5,399,714,645.13 euros, compared to -5,353,880,884.82 euros in 2024. This is the balance that measures the real capacity of the Generalitat to meet expenses with uncommitted liquid resources.

The treasury surplus is the magnitude that determines the liquid room for maneuver of the Generalitat and weighs directly in the debate on regional financing. The publication of the correction closes the financial snapshot of the 2025 fiscal year with official figures comparable to 2024: an adjusted result of 50.1 million negative and a total surplus of 3,973.3 million also in the negative.

Source: Diari Oficial de la Generalitat Valenciana, no. 10477, October 23, 2026, section III (Administrative acts, C. Other matters), pp. 1-2 (official reference: DOGV-C-2026-33078).