The Presidential Palace (Croatian: Predsjednički dvori, also referred to by the metonym Pantovčak) in Zagreb is the official workplace of the President of Croatia since late 1991. However, the president does not reside in the building and it is instead used to house the Office of the President, while the president continues to reside in his or her private residence during the duration of their term of office. Even so, welcoming ceremonies for visiting foreign dignitaries, state functions commemorating national holidays and consultations with leaders of parliamentary parties during post-election government formation processes, among others, are all usually held at the palace. Furthermore, it has become somewhat customary for the outgoing president and the president-elect to hold a bilateral meeting and a joint press conference in the palace on the former's last day in office, before his or her final departure from the palace grounds and the beginning of the latter's term of office at midnight. The structure covers 3,700 square metres (40,000 square feet) and in the 2009 government budget, it was allocated 54 million kuna (c. 7.3 million euro). As of May 2008, the office employed 170 staff with the maximum staffing level set at 191 by the Regulation on Internal Organisation of the Office of the President of Croatia.