1) funds accumulated in the state budget system;
2) funds off-budget funds;
3) resources received by the enterprise itself (profit, depreciation).
Based on this, finance can be centralized (state) and decentralized (resources of business entities.)
Decentralized resources are classified into the following structural elements
Own and attracted (profit, depreciation, cash in circulation, proceeds from the sale of property, profit from the performance of work and services, all types of accounts payable);
Borrowed (long-term and short-term bank loans, various financial resources);
Resources received in the order of redistribution (insurance compensation, state subsidies, subventions). Financial system- is a collection various areas or links of financial relations, each of which is characterized by features in the formation and use of funds Money, a different role in social reproduction. The financial system includes: finances of enterprises and organizations, insurance, public finances. All components financial system differ in the methods of formation and use of cash funds.
public finance- these are centralized funds of monetary resources that are created through the distribution, redistribution of national income created in industries material production. The state budget- centralized income of the state (list of income and expenses). The budget consists of two parts: revenue and expenditure. The income part shows the sources of cash receipts and their quantitative characteristics. The expenditure part indicates the areas in which the money is spent, and their quantitative parameters. The size of the state budget can be judged on the level economic development countries.
The main source of the budget is taxes (70-80%), the rest customs duties, government loan, money issue. State loan. AT For the purpose of uninterrupted financing of the diverse needs of society, the state can attract free funds from enterprises, organizations and citizens to cover its expenses. For additional replenishment financial resources of the country's economy, the state can resort to the issue of money. But this measure is not very often used, because. excessive emission can lead to an increase in inflation, depreciation of funds, rising prices, and a decrease in the living standards of the population. The next means of attracting financial resources the state is a state loan. The state sells bonds, treasury bills and other types of government bonds on the financial market. valuable papers. The financial market is integral part financial system. At present, the most significant in terms of volume in the composition financial market is the securities market. The state issues the following types of securities: GKO (government short-term bonds), OFZ (bonds government loan), OGSS (bonds of the state savings loan).
Conclusion
Finance - an essential element of our Everyday life. The tasks and problems of finance, taxes, and insurance have penetrated so deeply into public life that this concept has become commonplace and everyday. Any financial decisions are characterized by the fact that income and expenses are spread over time and, as a rule, cannot be accurately predicted by those who make these decisions. Therefore, when making financial decisions, it is necessary to take into account two the most important factors- time and risk. When carrying out any financial transaction, the time of its completion must be determined: after all, the money received today can already be directly used. Whereas the same amount of money received after a certain period of time can only be used after this period, so the value of money changes over time - amounts of money coming in the future are less valuable than similar amounts coming in more early dates. Any operation that takes place over time. The operation is fraught with risk, which lies in the fact that it is quite possible that there is a discrepancy between the results that we expect from the operation. And the results that will actually happen.
appeared much later than money - at the highest level of civilization, simultaneously with the development of trade and the emergence of the institution of the state, in the XIII-XV centuries. Finances significantly affect the reproduction of the labor force. Thus, finance and the financial system were created by man and human society in the person of the state as a central public institution. With the development of the state and development productive forces, the complication of economic ties, the sphere of finance is already beyond the framework of the state itself. Along with public finance, they can also be considered corporate finance (or business finance) and personal finance.
Bibliography
1) Litovchenko V.P. Finance : Textbook. - M .: Dashkov and Co., 2006. - 433 p.
2) Babich A. M. State and municipal finance. – M., 2002.- 487p.
3) Balabanov I. T. Gaming workshop on finance. - M., 2000. - 429s.
4) Blagodatin A. A. Financial dictionary. - M., 2005. - 415s.
5) Braicheva T. V. State finances of Russia. - SPb., 2002.- 483s.
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Since the budget is the broadest financial category, it has all the functions inherent in finance:
1) the formation of a budget fund (budget revenues) - an accumulative function;
2) the use of the budget fund (budget expenditures) - distribution function;
3) control function.
Accumulating function carry out budget revenues, including: taxes on the income of economic entities (participants in the process of social production - individuals and legal entities); loans; income from state property (enterprises); issuance income paper money. Main source budget revenues- the income of economic entities received as a result of the primary distribution of the net national product, namely:
Employee wages;
Income of self-employed persons;
Entrepreneurial profit (industry, Agriculture, trade and other industries);
Rent of land owners;
Loan interest (profit of banks and depositors).
The structure of budget revenues is not constant, it depends on specific economic conditions development of this country. The change in the structure of budget revenues reflects changes associated with economic processes. For example, changes in the ratio between taxes and loans towards an increase in the share of the latter reflect a clear decline in production, a change in the ratio between consumption and accumulation. Thanks to this function, there is a concentration of funds in the hands of the state and their use in order to meet national needs.
Scope of the distribution function is determined by the fact that almost all participants in social production enter into relations with the budget. The main object of budgetary redistribution is net income; however, this does not exclude the possibility of redistribution through the budget and part of the cost of the necessary product, and sometimes national wealth.
Thus, the content of the distribution function of the budget is determined by the processes of redistribution of financial resources between different divisions of social production. None of the other links of finance carries out such a multi-species (intersectoral, inter-territorial, etc.) and multi-level (federal, republican, regional, city, etc.) redistribution of funds as the budget. The second function of the budget belongs to specific target budget expenditures. The state, acting as an aggregate economic entity, takes into account economic interests all other participants in the reproduction process, in connection with which budget expenditures cover the entire economy. The need to comply with macroeconomic proportions in national economy requires budget financing certain sectors of the economy, institutions of the non-productive sphere, economic regions(administrative territorial entities), various forms of ownership, individual business entities.
This function allows you to find out how timely and fully financial resources are at the disposal of the state, how the proportions actually add up in the distribution budget funds whether they are being used effectively.
control function lies in the fact that the budget objectively - through the formation and use of the state cash fund - reflects economic processes occurring in the structural links of the economy. Thanks to this property, the budget can “signal” how financial resources come to the state from different business entities, whether the size of the state’s centralized resources corresponds to the volume of its needs, etc. The basis of the control function is the movement of budgetary resources, reflected in the relevant indicators of budget revenues and expenditure assignments.
The control function of the budget involves the creation of conditions for the exercise of control. This function coexists simultaneously with either the first function or the second. The control function determines the possibility of effective state influence on all economic processes. At the same time, control and the control function are not identical (albeit interrelated) concepts: the first expresses one of the important aspects of the activities of financial authorities, the second is a property inherent in finance that creates an objective basis for control.
budget device countries
Organization budget system and the principles of its construction are called budget device.
budget system - this is a set of budgets available in the Russian Federation, based on economic and legal norms.
The budget system of the Russian Federation includes the following types of budgets (budget links):
1. The federal budget of the Russian Federation.
2. Budgets of subjects of the Russian Federation.
3. Local budgets - budgets of municipalities.
The code of the federal budget and budgets of the Russian Federation form the concept "consolidated budget" . The consolidated budget of the Russian Federation is used to analyze the indicators of the budget system, as well as when setting standards for deductions from federal taxes to the budgets of the federal subjects. The consolidated budget of the Russian Federation is not approved by the legislative authorities.
The budget system of the Russian Federation has the following organizational structure
Level
Consolidated budget of the Russian Federation
Level
Consolidated budget of the region (territory)
Consolidated budget of the Republic of Bashkortostan
Level
Consolidated budget
municipal rural area
Hello! In this article we will talk about the accumulation of funds.
Today you will learn:
We are all hoarding. Someone collects unnecessary things and takes them to the country, someone saves working days to get a long vacation, and someone saves money. Let's talk about the latter.
Banks need deposits to attract funds from citizens with a view to their further redistribution for higher percentage.
After all, in fact, when you take your free funds to the bank, you give the bank a loan at a certain percentage, the interest on the deposit. The bank then lends these funds to those in need in order to earn interest on the loan.
At the moment, banking organizations have in their capital no more than 20% of their own funds, 80% are borrowed.
Thus, banks and banking organizations are some kind of intermediaries between citizens who have temporarily free funds and those who need them.
The Bank unites such economic entities by time (that is, it provides a loan when it is needed and for a certain period), by quantity (provides the amount that is needed at a time) and by place (no need to look for borrowers and lenders, all in one place).
Banking activities for the accumulation of funds have several features:
And, finally, let's think about why the activity of accumulating temporarily free funds is important for society and the state.
The first function is reallocation of funds, support for small and medium businesses. Often, owners of small and medium-sized businesses become bank borrowers.
In addition, the development of small and medium-sized businesses allows the development of the country's economy as a whole and makes a significant contribution to the state budget.
The second function is reducing the cost of finding borrowed funds. In the laptop example, citizen “A” would have to go around several people, conclude several contracts in order to receive a sufficient amount. Accumulation avoids paperwork.
The third function is profit from temporarily free cash. As you know, money should work.
Accumulation is the activity of getting money from money. At the same time, profit is received not only by those who accumulate funds, but also by those who contribute their free funds and receive interest for them. Remember.
Thus, the accumulation of funds allows you to redistribute funds, develop small and medium business in the country, replenish the state budget and improve the standard of living of the population.
Among the most powerful instruments of state influence on the economy, financial management on a budgetary basis, called budgetary regulation, should be mentioned. Budgets of different levels form the core of financial institutions government controlled economy. The role of the budgetary system of the state is so great that it is legitimate to consider it an independent institution of state management of the economy along with the banking system.
Since state budgets are developed on a planned basis and essentially represent state financial plans, there is every reason to consider the development and use of budgets to be the defining form of state financial planning. State budgeting as the main manifestation of financial planning is the process of formation and use of the budget 95
- centralized money fund to finance a wide range of public goods, government programs.
State budgeting forms the upper part of the budgeting pyramid, covering budgetary processes at the federal, regional, municipal levels, at the level of organizations and household budgets, called family budgets.
The budget, understood in a simplified way as a "money bag", a purse for placing, storing, extracting money, is in fact
ness is a more complex and multifaceted concept. On the one hand, it is a set, a mass of financial resources, funds that any economic entity has, be it a state, a territory, an organization, a family. On the other hand, the budget is the ratio between income and expenses. economic entity, the balance of his funds, characterizing the correspondence of their receipts and expenditures over a certain period, most often one year. On the third hand, the budget reflects the financial behavior, financial policy of the owner of funds, his ability to balance income and expenses, allocate financial resources.
Budgetary activity at the state level, which, in fact, is called state budgeting, is one of the leading links in the state management of the economy, reflects not only the financial, but also the socio-economic policy of the state as a whole. Although the state budget accumulates in itself only the funds of the state received and spent during one year or another budget period, it affects the movement of financial resources, cash flows, and thus the socio-economic processes as a whole. They are connected with the state budget, inflation, public debt, state socio-economic programs, financing of budgetary organizations, social benefits and payments depend on it.
Budgeting as a form of public administration includes:
- setting scope and structure cash income state, sources of income during the budget period;
- formation of the structure and volumes, addressing the state's cash expenditures during the budget period;
- Achievement of a certain level of balance between monetary revenues and expenditures of the state for the budget period;
- allocation of priority areas for spending state funds, which must be guaranteed, secured (protected articles of the state budget);
- linking budgets with the main directions of the economic and social policy pursued by the state;
- creation of state reserves, cash reserves and regulation of internal and external public debt.
Thus, representing in formal perception the legislatively approving painting
government revenue and spending for a certain period of time, the state budget is at the same time financial basis state management of the economy. In terms of content, the state budget is a way of forming, distributing and using centralized financial resources of the state in order to finance the state (budgetary) sector of the economy, the social sphere and service the public debt. The state budget is at the same time an annual cut of the long-term financial plan of the state, compiled according to aggregated indicators of the budget classification for a period exceeding the budget one. Thus, the state budget becomes the supporting element of the rolling state financial planning system.
In a centralized economy, the budget is entirely subordinate to the state economic plan, follows from it and does not have any important independent significance. Such an approach stems from the tendency prevailing in the planned-administrative economy to give a dominant role to material factors and a secondary one to financial ones.
In countries with a market economy, the preparation, approval, analysis of the execution of state annual budgets given great attention. The budgets themselves at the state level and the level of territorial units serve as the leading, determining form of financial planning. By the way, this fact refutes the notion that in a market economy there is no place for centralized state planning. Budgetary and financial planning in countries with a market economy is better than in countries with a traditionally planned economic system.
Of fundamental importance is the fact that in most developed countries a democratic procedure for adopting budgets at the national and municipal levels has been established and is being observed. Budgets in parliaments and their commissions are worked out in the most detailed way, for all income and expenditure items, even for individual objects.
As a result of the reforms, budgets in Russia also became the subject of consideration and approval by legislative bodies.
bodies. But having approved the budget, often belatedly, unfortunately, they do not always remember about it. It happens that the authorities make decisions that destroy the approved budget.
Of great importance for maintaining the stability of the economy, preventing crisis situations have
financial control
cash flows, timely adjustment of income and expenditure items of the budget. Naturally, the actual financial ratios differ from those outlined in the projects and plans. Typically, cash outlays are higher than planned and revenues are lower than expected. Hence, there is a need to adjust budgets, use reserves in order to direct economic processes in the right direction, to harmonize them with financial capabilities.
The budgetary and regulatory function of the state in countries with market system management is quite high and tends to increase. So the budget system is one of the leading links in the state management of the economy. With the help of budgets, the state has a regulatory impact on producers, and through them on the market for goods and services, capital, and labor. The set of budgets used in the country is called the budget system. In countries with federal state structure such a system usually consists of three levels of budgets:
1) the federal budget, in which the budgetary resources necessary for the implementation of expenditures of a nationwide nature are concentrated. Through this budget, the process of distribution and redistribution of the national income between the various subjects of the Federation also takes place;
2) budgets of subjects of the federation ( regional budgets), in which the budgetary financial resources of large regions that are part of the Federation are concentrated;
3) local (municipal) budgets, consisting of financial resources of administrative-territorial formations in the form of cities, districts, towns, settlements.
Towards a three-tier budget system covering federal, sub-federal and local budgets, adjoin the budgets of economic entities (legal entities) and family budgets. The budget of an economic entity is known as the balance sheet, it compares the income and expenses of an enterprise, company, firm for a certain period of time. The family budget is a table of income and expenses of the family for a month or a year. Accounting financial balances income and expenses of the organization are compiled in without fail, while the compilation family budget- voluntary business of each family.
districts, towns and other settlements.
budget system Russian Federation, as already mentioned, is built on a legislative basis in the form of budget legislation. General principles budgetary legislation, the legal basis for the functioning of the budgetary system, the flow of budgetary processes is established by the Budget Code of the Russian Federation
Russian Federation, adopted in 1998. The Code defines the legal status of participants in the budget process, legal framework the procedure and conditions for bringing to responsibility for violation of budget legislation. Let us characterize the basic principles of the construction and functioning of the budget system and the state budget as its defining part, accepted in the world and enshrined in the Budget Code of Russia.
The principle of the unity of the budget system means the unity of the legal framework, the uniformity of budget documentation and classification, a single procedure for constructing the revenue and expenditure parts of budgets of all levels, their consistency.
The principle of independence of budgets means the right to independently draw up and maintain budgets by legislative and executive authorities at each level.
The principle of completeness requires that revenues and expenditures for all items be reflected in the budget in full, taking into account all sources and all budget-financed costs.
The principle of balance means achieving compliance with budget revenues and expenditures.
The principle of publicity (openness) requires mandatory publication in the open press of approved budgets and reports on their execution, openness to society and funds mass media procedures for consideration and adoption of budgets.
The principle of targeting and targeted nature of budget funds means that such funds are allocated to specific recipients and directed to finance specific goals.
In real practice of state budgeting, not all of these principles are fully observed. This is evidenced at least by the very fact that, along with the state budget, there are extra-budgetary funds, the closeness of individual expenditure items of budgetary funds, and the incomplete independence of budgets of lower levels.
The state budget for its economic essence reflects the monetary relations that develop between the state and legal entities and the population and consist in the redistribution of national income in connection with education and the use of funds to finance the economy, implement social policy, develop science, culture, education, ensure the defense of the country and govern the state.
A feature of this link in the financial system is that the budget is associated with the separation of a part of the national income in the form of taxes and payments in the hands of the state and its use for public purposes. The state budget, in contrast to the financial system as a whole, redistributes only the part of the national income that it has (and not all national wealth) between industries, territories, spheres social activities in proportions determined primarily by the needs of expanded reproduction and the financial policy of the state.
The state budget should be considered as a means of implementing the financial functions of the state. Thanks to budgetary relations, the concentration of funds in the hands of the state and their use for the state to perform its functions, which together form the functions of budgetary management (regulation), take place.
The fiscal function is to create, with the help of the state budget, the financial basis for the functioning of the state, financing public expenditures both at the expense of its own revenues and, to a greater extent, through tax and other revenues.
The distributive function of the budget is manifested through the use of funds concentrated in the state to meet public needs, conduct economic policy, financial support for industries, regions.
The control function allows you to identify how timely and fully the financial resources are at the disposal of the state, how the proportions in the distribution of funds are formed, how they are used. The budget reflects the economic processes taking place in the structural links of the economy, thanks to which it becomes clear where they go (should go), when and in what amounts.
The manifestation of the functions of the state budget is reflected in the budget mechanism created by the state, which is a real embodiment budget policy and reflecting the focus of budgetary relations on solving economic and social problems. The state uses the budget to regulate the economy by maneuvering the monetary resources at its disposal. In the process of implementing budget policy, the state has the opportunity to apply a variety of forms of influence on the economy: subsidizing and financing production, public investment, financing the social sphere.
State budget revenues are formed from payments of legal and individuals in the form of taxes and fees directed to the formation of the state budget fund. The market economy dictates the need to use taxes as the main sources of income generation. Along with taxes, there are tax income budget in the form of income from the sale of state property, privatization, lease, concession, entrepreneurial and foreign economic activity, fees and duties, gratuitous transfers in favor of the state, fines and other monetary penalties.
Budget revenues are divided into own and regulatory. Own revenues are assigned to the relevant budget on an ongoing basis in whole or in part in accordance with the legislation of the country. Regulatory revenues are federal, regional and other payments for which percentage deductions (for the next period) to regional and local budgets are set.
The expenditure of the state budget arises in the process of distributing budgetary funds for the needs of the economy and the performance of the functions of the state. According to the Budget Code of the Russian Federation, budget expenditures are divided into capital, providing innovative and investment activity, and current, ensuring the functioning of the authorities of budgetary organizations, providing state support budgets of lower levels, individual industries in the form of subsidies.
Government spending is presented at the very general view as the sum of government purchases of goods, services and transfer payments. Government purchases include, for example, the purchase of weapons, state building, payment for the services of judges, teachers, firefighters, police officers. Transfer payments
- these are payments that redistribute tax revenues received from taxpayers to certain segments of the population in the form of unemployment benefits, social insurance and security payments, veterans' benefits. Most often, government purchases are called debilitating costs, as they absorb productive resources. At the same time, transfers and purchases influence the allocation of resources. If, through government purchases, society redistributes resources from private to public consumption, then through transfers, the government only changes the structure of consumption of private sector goods and does not affect the increase in public consumption.
consumption at the expense of personal. It should be noted that as a result of this, state intervention in the economy looks more effective by changing the volume of government purchases than by transfers.
Through transfers sent from the federal budget to the budgets of the constituent entities of the Federation and further to the municipal budgets, federal budgetary relations are formed in the economic aspect. Budget expenditures can be classified according to various principles: according to their role in reproduction (expenditures allocated to the sphere of material production and the development of the service sector); by industry (industry, agriculture, transport, communications, education, healthcare); intended purpose (investments, subsidies, wage costs); social purpose. Taking into account the public purpose of expenditures, budgetary funds can be allocated for the needs of the entire economy, for social and cultural events, for defense, and administration. AT total amount A significant part of expenditures on the economy is financed from the budget of the most important and large targeted federal and regional socio-economic programs. Thus, priority programs focused on the development of key sectors of the economy, on solving the most important socio-economic problems, on supporting remote, depressed regions, and on developing industrial and social infrastructure are financed from budgetary appropriations. |> Significant budgetary funds spent on the implementation of social and cultural activities are aimed at: developing education, supporting culture, providing medical care to the population and improving the social security of those segments of the population that need it.
In the budget spending on defense, the main place is occupied by the purchase of weapons and military equipment, the costs of the current maintenance of the armed forces, the financing of research and design work, and military construction.
Management costs are necessary due to the fact that the state performs important economic and organizational functions and must ensure management activities.
In the context of the transition to an economy based on market relations, measures are being taken to reduce budgetary subsidies to deliberately unprofitable and low-profit state and non-state enterprises, and to abandon the methods of general economic paternalism used in the Soviet economy. Budget appropriations are mainly directed to the implementation of state programs, financing the actual state expenditures.
In cases where the available revenues are not sufficient to meet the necessary expenditures, there is a budget deficit. The budget deficit is the excess of the expenditure part of the budget over the income. With a budget deficit, the state does not have enough funds for the normal performance of its functions and has to resort to internal and external loans (as sources of budget revenues), primarily from organizations credit system, which negatively affects the stability of the entire monetary circulation and is the main cause of inflation and financial crises. A budget deficit does not necessarily indicate some kind of emergency in the country's economy. It can be caused, for example, by the need to make large government investments in the development of the economy. There may be emergencies associated with wars, natural disasters, the costs of which could not be planned in advance, but must be carried out regardless of the availability of funds in reserve fund. It is necessary to be afraid not of the local, but of the constant, growing budget deficit, leading to the formation of hard-to-recover, accumulated debt obligations, aggravated by the payment of interest on debts.
If there is a temporary budget deficit, there are prospects for overcoming it and it does not amount to a large specific gravity in relation to the value of the gross domestic product, it should not be considered an exceptional event. But in cases where the budget deficit is deep, arises as a result of extraordinary circumstances and reflects crisis phenomena in the economy - its collapse, the inefficiency of the financial system - then, of course, this phenomenon causes enormous damage to the entire economy and cardinal measures must be taken to overcome a significant gap between expenses and available income. Usually, a budget deficit of up to 10% of the amount of revenues is considered acceptable, while a deficit of more than 20% is critical.
The main reasons for the significant budget deficit that emerged in the first phase of the transition to market economy in Russia is low production efficiency, significant social spending, non-payment of taxes to the budget, irrationality of the structure budget spending, inefficient budgetary mechanisms, as well as the rupture of economic ties due to the collapse of a single union state. For this reason, in the middle
90s Russia's state budget deficit reached the level of 20-25% of revenues and exceeded 5% of GDP. At the beginning of the first decade of the XXI century. Russian state managed to break the trend of deficit state budgeting and master the preparation of surplus, break-even budgets.
To reduce the budget deficit, it is necessary to stimulate in every possible way the inflow of revenues from all sectors and all spheres of economic activity and at the same time ensure the reduction of government spending. In order to cover the budget deficit, various forms can be used. state loan, both internal and external. But if one resorts to excessive use of credit Central Bank when the latter has no other resources for lending, except for an increase in the issuance of depreciating money, then such a measure will only lead to an increase in inflation. The use as a loan of funds received from the population, enterprises, banks through the sale of government bonds to them, can create a vicious circle, increasing the already large deficit when redeeming bonds and paying interest. By resorting to such loans, the state accumulates its debt, called the public debt. State debt consists of two components: less dangerous domestic debt, the repayment or restructuring of which is easier to negotiate with its domestic creditors, and more aggravating external debt, the maintenance of which must be agreed with foreign creditors.
Public debt is a burden that complicates the normal functioning of the economy. The growth of public debt reduces the stock of capital in the economy, since the owner of savings, instead of investing them in the economy through the purchase of shares of industrial companies, lending to private enterprises, acquires government bonds, financing the state. Thus, the presence of public debt reduces the share of equity relative to its potential value. A decrease in savings leads to a decrease in investment, and, consequently, to a decrease in the volume of production, since the state is not inclined to invest the loans received in production. Interest payments by the state on accumulated debt are growing, which leads to a further increase in debt. Overcoming the budget deficit should primarily be based on the development of production, ensuring financial stability
the activity of all sectors of the economy and enterprises of all forms of ownership, to the revitalization of entrepreneurship. As for reducing budget expenditures, it can be achieved by changing the direction of investing budget funds, using only targeted financial incentives and sanctions that allow taking into account the conditions of various producers. Important ways to reduce expenditures are to reduce excessive military and other expenditures, to finance only the most important social and economic state programs, and to prevent the implementation at the expense of the budget of measures that do not have a real financial basis. Attracting foreign capital to the country as a way to reduce, compensate for the missing state budget investments is rational for the subsequent increase on this basis of state budget revenues.
Budgeting, its discussion, approval, use of budgetary funds, review of results budgetary activities is a single budget process. The entire budget process is regulated by law, which provides for the procedure for compiling, reviewing, approving and executing
100 budget. In this process, an important place is occupied by budgetary regulation, which means the redistribution of monetary and financial resources between different budgets.
In accordance with the law, the president must make a decision in advance, long before the start of the financial year, to start work on drafting the budget, draw up a budget message to parliament. The draft federal budget is drawn up by the Government of the Russian Federation 10 months before the start of the next budget year. The government is preparing, on the basis of preliminary budget materials, a draft law “On federal budget”and submits it to the State Duma, where the draft is considered in four readings. When developing the budget for the next year, a forecast of the socio-economic development of the country is used, a consolidated balance of financial resources is drawn up, and the main directions of budget policy are determined. All this gives grounds to calculate the target figures for the next year. In Russian federation fiscal year starts January 1st and ends December 31st. When the draft budget is approved by the State Duma and the Federation Council, it is submitted to the President of the Russian Federation for signing and promulgation.
In the process of drawing up and reviewing the budget, many changes and additions are usually made to it.
The approved budget should indicate the upper limits of the budget appropriations for current expenditures and for the development budget. The fact is that if there are additional needs for budget funds, then, first of all, current expenditures should be provided with appropriate income, and the development budget, which is associated with the allocation of funds to increase production volumes, expand construction, should be limited to the amounts that were originally approved. when considering the budget. The approved budget should also define the limits of the unbalanced part of the budget, surplus or deficit, and these amounts are defined both in absolute terms and as a percentage of projected revenues.
If the President does not agree with the version of the budget presented by the Parliament, he can reject it, i.e. veto. As long as the budget is not finally adopted and the veto is not lifted, the government has the right to use monthly budget appropriations for disputed items in the amount of 712 parts of their value in the previous year.
Control over the state and progress of the implementation of the state budget is carried out by the Chamber of Control and Accounts under the Parliament, which in its activities does not depend on either the Parliament or the Presidential Administration.
The financial authorities control the execution of the budget. In cases where the limit level of the deficit is exceeded and the receipts of profitable sources are significantly reduced, a mechanism for sequestering expenditures is introduced. Sequestration means that it is necessary to make a proportional reduction in costs by 5, 10, 15%, etc. monthly for all budget items during the remaining time of the entire financial year. True, the so-called protected items are not subject to sequestration - these are the costs of wages, scholarships, medicines, food, etc.
Under emergency circumstances, an emergency budget regime for spending funds may be introduced in the country. The introduction of emergency measures is envisaged by the adoption of a special law.
In parallel with the state and local budgets, other forms of using the state's financial resources are also used. One of these ways is the creation of off-budget funds in the form of relatively independent financial resources generated from their own sources of income. The state budget largely contributes to the mobility of funds, if necessary, they can be redistributed to various types of expenditures.
dov. In order for social needs to suffer less with such a redistribution of funds, i.e. there was no reduction in spending on the vital needs of the state, special off-budget funds for a specific purpose are formed. State off-budget funds are created at the federal and regional levels.
Extra-budgetary funds are under the jurisdiction of state authorities, the procedure for their formation and functioning is regulated by the state, and the sources of formation of funds are determined by the nature and scale of the task for which they are created, as well as the economic and social situation of the country. In this regard, it is obvious that off-budget funds are a special form of using resources attracted to finance various public expenditures, in addition to the state budget itself. Depending on the intended purpose, extrabudgetary funds are divided into economic and social, and taking into account the level of management, they are divided into federal and regional. The main non-budgetary social funds in modern conditions are: the State Social Insurance Fund, Pension Fund, Compulsory Medical Insurance Fund.
The State Social Insurance Fund is organized to pay various benefits: for temporary disability, pregnancy and childbirth, at the birth of a child, for burial, for financing sanatorium and resort services, for material support activities of trade unions aimed at protecting the interests of workers. The main share of the expenses of this fund is the payment of various benefits. A fund is being created by the tax and insurance method with the attraction of funds from enterprises and organizations of various forms
property, as well as persons employed entrepreneurial activity. The sources of funds are part social tax, insurance premiums enterprises and organizations, other income.
The pension fund acts as a financial and organizational structure dedicated specifically to serving pensioners. Thus, this fund can be represented as a body of public administration of pension finances. This fund is engaged in the formation, accumulation of funds for the payment of pensions, child benefits, as well as financing organizations that help pensioners and children. This is the largest off-budget social fund in Russia.
The main income items of the Pension Fund are the receipts of the main part of the social tax in the form of interest from the paid wages, other mandatory insurance premiums. In a number of cases, funds from the federal budget are attracted to the Pension Fund, intended for the payment of state pensions, benefits, as well as the payment of compensation in connection with changes in the cost of living and wage growth. The fund can receive voluntary contributions citizens, businesses and public organizations, as well as from commercial and financial and credit operations carried out by the foundation itself. Unlike other social non-budgetary funds, the Pension Fund is fully centralized at the federal level.
The Compulsory Medical Insurance Fund is formed to guarantee the possibility for citizens to receive free medical care from the funds accumulated in the fund. Compulsory health insurance is a special part of the state social insurance, designed to provide all citizens with equal opportunities to receive medical and drug assistance in the amount and on the terms of programs for the provision of such assistance. Compulsory medical insurance for citizens of the Russian Federation was introduced in 1993.
The financial base of the Compulsory Medical Insurance Fund is formed by deductions in the amount of a certain percentage of the accrued wages collected from any of its sources in the form of social tax. These payments are directed mainly to the territorial compulsory medical insurance funds and partially to the Federal Fund. Payments to the Compulsory Medical Insurance Fund are included in the cost of production and are thereby transferred to the price of the product, so that in the end the costs are borne by the buyers, the consumers of this product.
As follows from the above, the state budget and off-budget social funds, being the main sources of financial resources of the state, are also used as a fairly comprehensive and multifaceted instrument of direct public administration and indirect regulation of the economy. The action of this tool extends beyond the state sector of the economy, covers the entire population of the country in the social aspect. Part of the resources of the state budget in the form of loans, subventions, subsidies, collateral
hidden to non-state commercial organizations, public funds, small business structures.
To ensure the stability of the economy, the state forms a special stabilization fund.
In world practice, different concepts of the use and management of the state budget are known.
The concept of a balanced neutral budget is based on the principle of achieving and maintaining a sustainable financial condition economy based on a deficit-free state budget, with equal income and expenditure, regardless of the presence or absence of reproductive and economic problems. Within the framework of such a rather passive concept, the state budget is intended to solve only the problem of obtaining and adequately spending funds for purely state needs in the narrow sense of the word.
A later concept, consistent with the Keynesian doctrine of state influence on the economy, can be called the concept of budgetary stabilization of the economy. According to this concept, in conditions of disruption of the stable functioning of the economy, the presence or expectation of crisis phenomena, the state has the right to spend financial resources to suppress inflation, unemployment, passive demand for goods and services, resorting to budget borrowing, which generates a budget deficit. At the same time, the state budget loses its own balanced-sustainable state, turns into debt in the name of stabilizing the country's economy through the budget itself. The implementation of such a concept of budgetary regulation of the economy, which has become widespread in the world, assumes that after the stabilization of the economy, it will be possible to balance the state budget and pay off the resulting public debt using liquid state assets.
Due to the presence of different goals of the state budget policy and different ideas about the economic and social effectiveness of this policy, there are no unambiguous criteria for establishing a rational (optimal) state budgeting regime. Among the macroeconomic indicators that claim to be such criteria, we will name:
- pace GDP growth country (region);
- share of the capital part (development fund) in the budget;
- budget deficit;
- accumulated public debt (internal and external);
- inflation rate;
- unemployment rate;
- the share of public goods in the gross domestic product.
A real judgment about the effectiveness of state budgeting can only be obtained by considering the totality of the above indicators, taking into account their dynamics.
3. The accumulation of funds received was provided for in the federal budget.
As a matter of fact, the talk was about the "Hungarian version" of privatization. The reformers objected to this variant of privatization, arguing that there is neither money nor owners in the transitional economy.
Another project was made by M.Maley, who rejected the idea of "commercial privatization" in connection with the already well-known argument of the lack of money from the population. He proposed "people's privatization" according to the principle - all citizens of Russia equally and free of charge. Privatization was supposed to affect 70% of the main production assets industry and agriculture. All citizens of the country were to receive free of charge state property with a total book value of 2,200 billion rubles. Each citizen in the implementation of this project would have to receive their share, while the share was estimated in "conventional units", and not in inflationary rubles. The size of each share would be 14 thousand conditional balance rubles (but according to the calculations of the State Committee for State Property Management of the USSR). The main idea of such a mechanism was to provide citizens with a personalized privatization account, the purchasing power of which is not subject to inflation, and it should have increased in the course of identification. market value privatized property. The advantage of this project was that each owner of a nominal account had the opportunity to purchase either shares of a privatized object or shares of an investment fund that accumulates shares of many enterprises. The latter reduced the inevitable risks of the buyer. M.Maley's proposal made it possible to prevent the involvement of registered accounts in the market, which did not contribute to the growth of inflation.
However, the reformers proposed to follow a different path, and although they agreed to both cash and check (voucher) privatization, they canceled the basic principle of popular privatization - the transfer of state property to the ownership of citizens in equal shares.
Thus, by 1992 the general goals and principles of the privatization policy were formulated. Russian government. The main ones include the following:
1. denationalization of enterprises aimed at increasing the efficiency of production; stimulating enterprises to search for new market strategies and increase the competitiveness of their products in domestic and world markets;
2. reduction of budget expenditures on subsidies to state enterprises;
3. increase in budget revenues from the sale of enterprises and blocks of shares;
4. formation of effective owners, transfer of enterprises to new strategic owners and attraction of investments for the renewal and development of their production apparatus;
5. formation and development of the capital market, which regulates the transfer of investments to the most efficient areas, and the implementation on this basis of a new structural and technological policy;
6. keeping the "mandatory" part of the public sector in a viable state (defence, natural monopolies) with a declining volume of resources actually controlled by the state.
2.2. Stages and mechanisms of Russian privatization
Stage 1. Initial stage of privatization
"Small privatization" (first half of 1992). In 1992, a cash or "Small Privatization" was carried out, which preceded the voucher privatization. It concerned objects of trade, motor transport, services, etc. In less than half a year of 1992, 46,815 objects of state property were sold in the course of "Small Privatization". According to the results of 1992, no more than 42 kopecks were received for each ruble of state property, which gave the budget 39.9 million rubles. For comparison: the privatization of 25,000 similar facilities in the Czech Republic brought the Czech budget $1,200 million.
Nevertheless, such an economic disadvantage was motivated by the reformers by the need to create an effective owner as soon as possible.
Voucher Auctions (1993 - first half of 1994) Research conducted by A. Braverman's group commissioned by the State Property Committee showed that there are no funds in Russia for privatization, for the formation of a layer of new owners. The undoubted solution was to attract foreign capital, but it was clear that in short time it will not be possible to attract substantial funds from abroad to Russia. In this regard, it was proposed to introduce a new means of payment into cash circulation on the market - a privatization check. This, among other things, made it possible to hide the buyer, including a foreign one, thus, instead of a nominal check, a bearer's check was offered.
In August 1992, Boris Yeltsin issued a decree approving the concept of voucher privatization. In accordance with the plan of the reformers, the State Property Committee fundamentally changed the type and properties of means of payment that citizens could dispose of when buying state and municipal enterprises and property into private ownership. At the same time, the basic principle of people's privatization was canceled - the transfer of state property to the ownership of citizens in equal shares.
In Russian statistics, the entire production potential of the country was estimated by book value fixed assets. Planned targets for privatization by regions of the country had a specific feature: drawn up for 12 industries, they did not coincide with the structure of industry reporting Russian authorities statistics. And the enterprises of the most attractive industries: mechanical engineering, instrument making, resource extraction and processing were classified as "other objects". For sectors identified by the reformers average cost of an object in the field of consumer services was 2 billion rubles, in light industry - 24 billion rubles, while the average cost of an object in the "other" category was 32 billion rubles. As of January 1, 1992, the Goskomstat of Russia registered 270,000 state-owned enterprises on an independent balance sheet, of which 155,638 enterprises with a total authorized capital of 1,520 billion rubles were proposed for mandatory check privatization.
The structure of the sale of this property is presented below in tabular form.
Table 2. Actual types of sales of state property proposed for voucher privatization
| Types of sales | The size of the authorized capital of enterprises, billion rubles | |
| Closed subscription | 462,7 | 30,4 |
| Buyout of rent and sale of enterprises | 141,9 | 9,3 |
| Check auctions | 265,3 | 17,5 |
| Money auctions | 12,4 | 0,8 |
| Sale of shares from FARP | 59,4 | 3,9 |
| Investment contests | 16,3 | 1,1 |
| The balance of the authorized capital unrealized at the check stage | 562,0 | 37,0 |
From the data given in the table, it can be seen that 37% of the offered capital at the checkout stage was not sold. In the course of voucher privatization, 48,172 enterprises with a total authorized capital of 958 billion rubles were sold, of which 149 billion rubles were received by the federal budget in cash.
Enterprises of federal and republican property were sold at prices not exceeding the nominal value of the shares, regional and regional property was sold practically at the nominal value of the shares, and only municipal property was sold at a price slightly exceeding the nominal value of the object's shares. However, municipal property accounted for a small fraction, the main share of property - 64% in terms of capital was federal property. The British analytical agency Independent Strategy reported in September 1994 that “... even if we assume that in Russia the cost of fixed production assets is equal to gross domestic product (GDP), and in the leading countries of the West, funds exceed GDP by 2.4 -2.8 times, then for an economy with a GDP of about 300-400 billion dollars, the amount received from privatization is simply negligible.
The conditions of equality of rights in the purchase of shares for different social strata of the population were not maintained. When selling shares by closed subscription to members of labor collectives, the average rate of a privatization check was 0.7, that is, one check accounted for a block of shares in the amount of 7,000 rubles, which was 3.3 times higher than the rate of open specialized check auctions. Thus, an employee who buys shares of his own enterprise by subscription was in more privileged conditions than citizens who buy the same shares at voucher auctions. It should be noted that the standard closed subscription provision did not limit the number of shares declared for purchase, this allowed smart buyers to use nominees. In violation of the legislation on privatization, as a rule, sources of income were not declared when buying large and super-large blocks of shares for checks by individuals; purposeful buying up of shares for checks by foreign companies was carried out through front companies and with the help of chartered individuals.
If, as it was officially announced, 40 million citizens of Russia became shareholders, then out of 148 million checks issued into circulation, only every fourth check passed the legal procedure of direct exchange for shares of privatized enterprises, the rest were presented already in the conditions of the secondary securities market.
Similarities and differences in the practice of mass privatization in Russia and Eastern Europe quite obvious, although with a certain degree of assumption it can be said that the Russian version is in essential terms closer to the Czech experience. However, Russian voucher privatization in many respects loses even to the experience of the Czech Republic and Slovakia. With all the known initial differences, the shortcomings of the Russian voucher privatization were not the result of the manifestation of some Russian features, but the result of a conscious choice, that is, they were largely determined by subjective reasons.
Thus, the main shortcomings of the voucher privatization program implemented in Russia were:
Issuance of a check to the bearer, not a nominal check; fixing the nominal value of the check in rubles, and not in conventional units; lack of mechanisms to maintain the market value of a check during auctions and its correspondence to the value of the assets purchased for it; local character of auctions; and the absence of restrictions on the participation of individuals and legal entities in them.
Stage 2. Monetary stage of privatization
Loans-for-shares auctions (second half of 1995) are referred by researchers to the monetary stage of privatization. The idea of loans-for-shares auctions was proposed by the interested parties themselves, who today are commonly referred to as oligarchs. In A. Kolesnikov's book “Unknown Chubais. Pages from the biography" the following explanations are given: "In March 1995, Vladimir Potanin proposed to implement the loans-for-shares auction scheme, developed, according to Dmitry Vasiliev, by Boris Yordan, which in that situation seemed the only possible way to replenish the budget, give a real start to monetary privatization and continue the policy financial stabilization, for which Anatoly Chubais was responsible. After the auction, the winning bank had to provide the government with a loan against the security of its [the state's] shares of one or another enterprise. Then, in accordance with this scheme, these pledged shares had to either be sold at a competition, or become the property of creditors, or the government was forced to repay the loan. As a result of the loans-for-shares auctions, the privatization task was completed, which to a large extent contributed to the actual completion of financial stabilization. Auctions have become a launching pad for the formation of the Russian oligarchy - a class of very large owners.
Thus, special loans-for-shares auctions were supposed to identify banks that offered the most favorable lending conditions for the government. However, researchers draw our attention to the following questions. Why would the government take a loan from Russian banks and pledge shares of state-owned enterprises to future oligarchs if there will be no money to repay the loans later? And if before the loans-for-loans auctions, V. Potanin and other participants were not very large owners, then where did they get the money for a loan from the state in order to later receive such important objects of Russian industry? However, a consortium of Russian commercial banks consisting of Imperial, Inkombank, ONEXIMbank, Stolichny Savings Bank, Menatep and Mezhdunarodnaya financial company” offered the Government of the Russian Federation a large preferential privatization loan, temporarily replacing the budgeted proceeds from privatization, provided that they pledged blocks of shares in a number of major Russian enterprises. At the same time, it is known that the Government first lent money to banks at a meager percentage: out of 9 commercial banks in which the Russian Ministry of Finance placed temporarily free foreign exchange funds on deposits, 6 banks participated in the loans-for-shares auctions (as a potential creditor or guarantor).
However, in 1995, 11 out of 12 loans-for-shares auctions were held. All banks of the said consortium, with the exception of Inkombank, became winners of loans-for-shares auctions. The total planned loan amount under all concluded agreements amounted to 3.57 trillion. rubles, or 1.85% of federal budget revenues for 1995. Taking into account that the implementation of the plan for federal budget revenues in 1995 amounted to 106% (with a total deficit of 48 trillion rubles), these loans were not of decisive importance for covering the deficit. . An analysis of the composition of the participants in the auctions and their guarantors showed that in most cases competition was not expected during the auctions.
Upon the expiration of the established credit period (September 1, 1996), in the event of non-return of the money, the pledgee bank had the right to sell on the market its block of shares. As expected, a joint decision was made by the Government and the Security Council, which confirmed the right of banks to sell the pledged blocks of shares. What was done different ways, and - which has already become a tradition - with many scandals between competitors. In most cases, the blocks of shares were purchased by the creditors themselves, either directly or through shell companies. Perhaps the sale of pledged blocks of shares in the oil companies Surgutneftegaz and Lukoil was the most conflict-free.
Thus, large companies were privatized using the mechanism of loans-for-shares auctions:
Oil and gas complex: Surgutneftegaz, Lukoil, Sidanko, Yukos, Sibneft; metallurgical complex: Chelyabinsk Iron and Steel Works, Norilsk Nickel, Novolipetsk Iron and Steel Works; shipping companies: North-Western Shipping Company, Murmansk Shipping Company, Novorossiysk Shipping Company.
The table below shows data on the most expensive loans-for-shares auctions.
Table 3. The most expensive loans-for-shares auctions
| Company | pledged (November - December 1995), % | The price of the block of shares pledged US$ million (equal to loan) | Market price block of shares as of 08/01/1997, million US dollars (for reference) |
| Lukoil | 5 | 35 | 15 839 |
| Yukos | 45 | 159 | 6 214 |
| Surgutneftegaz | 40 | 88 | 5 689 |
| Sidanco | 51 | 130 | 5 113 |
| Sibneft | 51 | 100 | 4 968 |
| Norilsk Nickel | 51 | 170 | 1 890 |
Thus, the main conclusions that can be drawn in relation to privatization using the mechanism of loans-for-shares auctions are as follows:
1. the most attractive ones were privatized Russian enterprises at prices significantly below their market value;
2. one of the effects of such privatization was the formation of a class of Russian oligarchs;
3. According to some estimates, the transactions concluded have all the signs of a sham aimed at alienating federal property in favor of a limited number of persons.
Investment competitions (1993-1998) for the sale of state-owned privatization objects were another reality of Russian privatization. In fact, investment competitions for the federal budget were a loss-making form of sales, since, if blocks of shares were sold at an auction or a commercial competition, the sale price as a result of the auction would increase many times over and the money would immediately be sent to the budget. Nevertheless, the ideology of the investment courses was that the state, in the conditions of a scanty federal budget, instructed the investor-buyer to provide investment support for the privatized production, implying that the lost budget revenue would be compensated in the future by transforming the existing production. The buyer, having become the owner, as a rule, of a large block of shares acquired at an investment tender, became, in fact, the executor of the state order for the financial and industrial rehabilitation of a privatized enterprise.
Formation investment programs during privatization, the issuer himself carried out jointly with the potential buyer, and the State Property Committee approved them. The procedure for selecting organizations-developers of investment programs and the procedure for coordinating programs was not established by law. The feasibility study of investment projects, as a rule, was not developed, projects of investment programs were not examined by industry design institutes.
Almost all largest enterprises Russia: oil production and oil refining enterprises, Norilsk Nickel, giants of the mining industry, ferrous and non-ferrous metallurgy, ports, energy enterprises, communications.
In the very concept of "investment competition for the sale of blocks of shares joint-stock companies created in the course of privatization of state and municipal enterprises” two independent processes are connected:
Competition for the acquisition of shares of privatized enterprises; fulfillment of investment obligations accepted as an additional condition for participation in privatization.
As a criterion for identifying the winner of the competition, various indicators can be assigned: the price of the package (commercial competition), social conditions, the amount of investment, the timing of the investment, goals and forms of investment, or any other indicators.
Summarizing the experience of sales at investment tenders, it should be noted that the seller of state property - RFBR and territorial property funds did not carry out proper preparatory work, did not study the buyers' true intentions enough. Subsequently, violations in the calculations of the investment level, mercenary collusion between the investor and the issuer, and other violations related to the failure to fulfill investment obligations were revealed. According to the RFBR, since the beginning of privatization, 147 contracts have been concluded with the winners of investment tenders for the sale of federal property, the amount of investment obligations amounted to at least 2.1 trillion rubles. rubles, territorial property funds concluded more than 1,219 contracts, the amount of investment is estimated at 8.2 trillion. rubles. The RFBR admits that only 26 out of 147 contracts have been fulfilled.
In conclusion, we note that, in the opinion of the main ideologist of privatization A. Chubais, investment competitions were a mistake that allowed the so-called investors to acquire stakes in enterprises for nothing, promising that they would invest a lot of money in this enterprise in the future, and in the future to evade the implementation of these obligations.
... "Stages of privatization and denationalization" touched upon some of these features and problems (in particular, the problem of bankruptcies industrial enterprises). Let's try to identify the most basic differences and features of privatization, the problems that arose in the process of privatization, as well as hampered the development of privatization on the basis of the previous analysis that was different from other countries...
The Russian Federation must emphasize that a special place in the practice of reforming the economic space of Egypt and the Arab countries in general is occupied by issues of liberalization economic systems, the problems of denationalization and privatization of property, the creation of modern financial institutions, including corporate securities markets, characteristic of modern market economies. In a certain sense...
That in the conditions of the market, its functions have become realistically feasible, capable of solving a wide range of vital tasks in social production, exchange and distribution. Thus, the goal of privatization and denationalization, as fundamental elements of reforms in the "transitional" economy, was to provide conditions for the normal functioning of the future market system. It is during the process...
Shares created in the process of privatization of open joint-stock companies to the owners of state or municipal securities, certifying the right to acquire such shares. 2. The main stages of privatization in the Russian Federation Privatization in Russia was carried out in a radical way in terms of nature, scale, pace, timing and methods. If we consider privatization in dynamics, then ...
The authorized body for the accumulation of funds from the contributions of the Forum participants and sponsorship is the state budgetary institution of the Republic of Sakha (Yakutia) "Center for Social and Psychological Support for Families and Youth". The word accumulate is translated as accumulation, but we collect contributions from participants and deposit them into the settlement account of the institution, after which we spend according to contracts. In this case, what is the correct wording?
In clause 3.2. Appendix No. 3 of the Decree of the Government of the Republic of Sakha (Yakutia) dated July 1, 2016 No. 231 “On the Youth Forum” states that the authorized body for accumulating funds from the contributions of the Forum participants and sponsorship is the state budgetary institution of the Republic of Sakha (Yakutia) “Center for Social and Psychological family and youth support.
Encyclopedic dictionaries say that ACCUMULATION OF MONEY is the process of gradual accumulation of monetary resources by a person, company, country. Or Accumulation of Funds is the concentration of own, borrowed or borrowed financial resources for the implementation of commercial projects. Those. in your case, the accumulation of funds from the contributions of the Forum participants and sponsorship can be considered as the accumulation of funds for the implementation of ongoing events.
The State Budgetary Institution of the Republic of Sakha (Yakutia) "Center for Social and Psychological Support for Families and Youth" keeps records, controls and spends funds received from contributions from forum participants and sponsorship. Therefore, in your case, it should be indicated that the accounting, control and further spending of funds received from the contributions of the Forum participants and sponsorship is carried out by the state budgetary institution of the Republic of Sakha (Yakutia) "Center for Social and Psychological Support for Families and Youth".
Rationale
GOVERNMENT OF THE REPUBLIC OF SAKHA (YAKUTIA)
ABOUT YOUTH EDUCATIONAL FORUM
(as amended by the Decree of the Government of the Republic of Sakha (Yakutia) dated July 3, 2017 N 230)
Appendix N 3
III. Spending of funds, the source of financing of which is the contributions of the Forum participants and sponsorship
3.1. The amount and procedure for making a fee for participation in the Forum is accepted and approved by the Organizing Committee.
3.2. The authorized body for the accumulation of funds from the contributions of the Forum participants and sponsorship is the state budgetary institution of the Republic of Sakha (Yakutia) "Center for Social and Psychological Support for Families and Youth".
The receipt and expenditure of these funds is made through the personal account of the state budget institution Republic of Sakha (Yakutia) "Center for socio-psychological support of families and youth".
3.3. The funds, the source of financing of which are the contributions of the Forum participants and sponsorship, are used to pay for the following services:
for the disposal of liquid domestic waste, solid domestic waste;
for the production of art objects;
professional photographer;
stationery costs;
organizing and conducting cultural and sports programs;
communication services (Internet, wi-fi).
Among the most powerful instruments of state influence on the economy, financial management on a budgetary basis, called budgetary regulation, should be mentioned. The budgets of different levels form the core of the financial institutions of state management of the economy. The role of the budgetary system of the state is so great that it is legitimate to consider it an independent institution of state management of the economy along with the banking system.
State budgeting as the main manifestation of financial planning is the process of formation and use of the budget - a centralized monetary fund in order to finance a wide range of public goods, government programs. State budgeting forms the upper part of the budgeting pyramid, covering budgetary processes at the federal, regional, and municipal levels.
The budget, understood in a simplified way as a "money bag", a wallet for placing, storing, extracting money, in reality is a more complex and multifaceted concept. On the one hand, it is a set, a mass of financial resources, funds that any economic entity has, be it a state, a territory, an organization, a family. On the other hand, the budget is the ratio between the income and expenses of an economic entity, the balance of its funds, characterizing the correspondence of their receipts and expenditures over a certain period, most often one year. On the third hand, the budget reflects the financial behavior, financial policy of the owner of funds, his ability to balance income and expenses, allocate financial resources.
Budgetary activity at the state level, which, in fact, is called state budgeting, is one of the leading links in the state management of the economy, reflects not only the financial, but also the socio-economic policy of the state as a whole. Although the state budget accumulates only state funds received and spent during one year or another budget period, it has an impact on the movement of financial resources, cash flows, and thus on socio-economic processes as a whole. They are connected with the state budget, inflation, public debt, state socio-economic programs, financing of budgetary organizations, social benefits and payments depend on it.
Budgeting as a form of public administration includes:
Thus, representing in the formal perception the list of state revenues and expenditures that approves by law for a certain period of time, the state budget is at the same time the financial basis of state management of the economy. In terms of content, the state budget is a way of forming, distributing and using centralized financial resources of the state in order to finance the state (budgetary) sector of the economy, the social sphere and service the public debt.
In a centralized economy, the budget is entirely subordinate to the state economic plan, follows from it, and does not have any important independent significance. Such an approach stems from the tendency prevailing in the planned-administrative economy to give a dominant role to material factors and a secondary one to financial ones.
In countries with a market economy, great attention is paid to the preparation, approval, and analysis of the execution of state annual budgets. The budgets themselves at the state level and the level of territorial units serve as the leading, determining form of financial planning.
Of fundamental importance is the fact that in most developed countries a democratic procedure for adopting budgets at the national and municipal levels has been established and is being observed. Budgets in parliaments and their commissions are worked out in the most detailed way, for all income and expenditure items, even for individual objects. As a result of the reforms, budgets in Russia have become the subject of consideration and approval by the legislative bodies. But having approved the budget, often belatedly, unfortunately, they do not always remember about it. It happens that the authorities make decisions that destroy the approved budget.
Of great importance for maintaining the stability of the economy, preventing crisis situations are control over financial flows, timely adjustment of income and expenditure items of the budget. Naturally, the actual financial ratios differ from those outlined in the projects and plans. Typically, cash outlays are higher than planned and revenues are lower than expected. Hence, there is a need to adjust budgets, use reserves in order to direct economic processes in the right direction, to harmonize them with financial capabilities.
The budgetary and regulatory function of the state in countries with a market economy system is quite high and tends to increase. So the budget system is one of the leading links in the state management of the economy. With the help of budgets, the state has a regulatory impact on producers, and through them on the market for goods and services, capital, and labor.
The set of budgets used in the country is called the budget system. In countries with a federal state structure, such a system usually consists of three levels of budgets:
The budgets of business entities (legal entities) and family budgets adjoin the three-level budgetary system, covering the federal, subfederal and local budgets. The budget of an economic entity is known as the balance sheet, it compares the income and expenses of an enterprise, company, firm for a certain period of time. The family budget is a table of income and expenses of the family for a month or a year. Accounting financial balances of the organization's income and expenses are compiled on a mandatory basis, while the preparation of a family budget is a voluntary matter for each family.
The general structure of the budgetary system of the Russian Federation is shown below in Figure 5. The actual structure of the budgetary system is somewhat more complicated than the simplest three-level representation. Each of the first two levels of this system is presented in two forms: consolidated and unitary. The consolidated budget, unlike the unitary budget, includes, covers both the budget of a given level (federal, subjects of the Federation), and budgets of a lower level.
Scheme 5 Structure of the budget system of the Russian Federation
The budget system of Russia includes the state budget in the form of the federal budget and the budgets of the subjects of the Federation (including the budgets of the republics that are part of the Russian Federation; regional and regional budgets; city budgets of Moscow and St. Petersburg) and local budgets of cities, districts, towns and other settlements points.
The budget system of the Russian Federation is built on a legislative basis in the form of budget legislation. The general principles of budget legislation, the legal basis for the functioning of the budget system, the flow of budget processes are established by the Budget Code of the Russian Federation, adopted in 1998. The Code determines the legal status of participants in the budget process, the legal basis for the procedure and conditions for bringing to responsibility for violation of budget legislation.
Let us characterize the basic principles of the construction and functioning of the budget system and the state budget, as its defining part, enshrined in the Budget Code of Russia.
The principle of the unity of the budget system means the unity of the legal framework, the uniformity of budget documentation and classification, a single procedure for constructing the revenue and expenditure parts of budgets of all levels, their consistency:
The principle of independence of budgets means the right to independently draw up and maintain budgets by legislative and executive authorities at each level;
The principle of balance means achieving compliance with budget revenues and expenditures;
The principle of publicity (openness) requires mandatory publication in the open press of approved budgets and reports on their implementation, openness to society and the media of the procedures for considering and adopting budgets;
The principle of targeting and targeted nature of budget funds means that such funds are allocated to specific recipients and directed to finance specific goals.
In real practice of state budgeting, not all of these principles are fully observed. This is evidenced at least by the very fact that, along with the state budget, there are extra-budgetary funds, the closeness of individual expenditure items of budgetary funds, and the incomplete independence of budgets of lower levels. The state budget, in its economic essence, reflects the monetary relations that develop between the state and legal entities and the population and consist in the redistribution of national income in connection with the formation and use of funds to finance the economy, implement social policy, develop science, culture, education, and ensure the defense of the country and state administration.
Through transfers sent from the federal budget to the budgets of the constituent entities of the Federation and further to the municipal budgets, federal budgetary relations are formed in the economic aspect.
In the context of the transition to an economy based on market relations, measures are being taken to reduce budgetary subsidies to deliberately unprofitable and low-profit state and non-state enterprises, and to abandon the methods of general economic paternalism used in the Soviet economy. Budget appropriations are mainly directed to the implementation of state programs, financing the actual state expenditures.
In cases where the available revenues are not sufficient to meet the necessary expenditures, there is a budget deficit. The budget deficit is the excess of the expenditure part of the budget over the income. With a budget deficit, the state does not have enough funds for the normal performance of its functions and has to resort to internal and external loans (as sources of budget revenues), primarily from organizations of the credit system, which negatively affects the stability of the entire monetary circulation and is the main cause of inflation, financial crises .
If a temporary budget deficit arises, there are prospects for overcoming it, and it does not constitute a large share in relation to the value of gross domestic product, it should not be considered an exceptional event. But in cases where the budget deficit is deep, arises as a result of extraordinary circumstances and reflects crisis phenomena in the economy - its collapse, the inefficiency of the financial system - then, of course, this phenomenon causes enormous damage to the entire economy and cardinal measures must be taken to overcome a significant gap between expenses and available income. Usually, a budget deficit of up to 10% of the amount of revenues is considered acceptable, while a deficit of more than 20% is critical.
The main reasons for the significant budget deficit, which manifested itself in the first phase of the transition to a market economy in Russia, are low production efficiency, significant social spending, non-payment of taxes to the budget, the irrationality of the structure of budget expenditures, inefficient budget mechanisms, as well as the disruption of economic ties due to the collapse of single union state. As a result, in the mid-1990s Russia's state budget deficit reached the level of 20-25% of revenues and exceeded 5% of GDP.
At the beginning of the first decade of the XXI century. The Russian state managed to break the trend of deficit state budgeting and master the preparation of surplus, break-even budgets.
To reduce the budget deficit, it is necessary to stimulate in every possible way the inflow of revenues from all sectors and all spheres of economic activity and at the same time ensure the reduction of government spending. In order to cover the budget deficit, various forms of public credit, both internal and external, can be used. But if one resorts to excessive use of the credit of the Central Bank, when the latter has no other resources for lending, except for an increase in the issuance of depreciating money, then such a measure will only lead to an increase in inflation. The use as a loan of funds received from the population, enterprises, banks through the sale of government bonds to them, can create a vicious circle, increasing the already large deficit when redeeming bonds and paying interest. By resorting to such loans, the state accumulates its debt, called the public debt. Government debt is made up of two components: less dangerous domestic debt, which is easier to negotiate with domestic creditors to repay or restructure, and more burdensome external debt, the service of which must be agreed with foreign creditors. Overcoming the budget deficit should primarily be based on the development of production, ensuring financial stability all sectors of the economy and enterprises of all forms of ownership, to enhance entrepreneurship.
The preparation of the budget, its discussion, approval, use of budgetary funds, consideration of the results of budgetary activities is a single budgetary process. The entire budget process is regulated by law, which provides for the procedure for drawing up, reviewing, approving and executing the budget. In this process, an important place is occupied by budgetary regulation, which means the redistribution of monetary and financial resources between different budgets.
In accordance with the law, the president must make a decision in advance, long before the start of the financial year, to start work on drafting the budget, draw up a budget message to parliament. The draft federal budget is drawn up by the Government of the Russian Federation 10 months before the start of the next budget year. The government, on the basis of preliminary budget materials, prepares a draft law "On the federal budget for the next year" and submits it to the State Duma, where the draft is considered in four readings.
When developing the budget for the next year, a forecast of the socio-economic development of the country is used, a consolidated balance of financial resources is drawn up, and the main directions of budget policy are determined. All this gives grounds to calculate the target figures for the next year. In the Russian Federation, the fiscal year begins on January 1 and ends on December 31. When the draft budget is approved by the State Duma and the Federation Council, it is submitted to the President of the Russian Federation for signing and promulgation.
Control over the state and progress of the implementation of the state budget is carried out by the Chamber of Control and Accounts under the Parliament, which, theoretically, in its activities does not depend on either the Parliament or the Presidential Administration.
Today in Russia the mechanism of the state budget is aimed at financing the restructuring of the economy; building up modernization and scientific and technical potential; acceleration social development and social security of the population. Through expenditures and taxes, the state budget of the Russian Federation acts as an important tool for regulating and stimulating the economy and investment.
Each of us, one way or another, wants to accumulate a sum of money for some of his needs. But this is not easy, because often all our income goes to more or less urgent needs, after which there is nothing left. When, after the distribution of capital, a certain amount remains for all your needs, we are talking about temporarily free cash. Accumulation is just the process of accumulating such money. This term is most often used in the aspect banking. What does the word "accumulation" mean and how it relates to the work of financial institutions, we will find out further.
The accumulation of funds is one of the activities of commercial banks, and one of the most important. Its essence lies in the fact that they concentrate the so-called “free” money of depositors on their accounts and receive income by redistributing it. These finances don't linger inside banking organization, but are converted into capital by investing in the state economy, provided as loans and used to purchase securities.
A little-known fact is that banks at the beginning of their activities used only their own free finances. But when loans and various kinds of loans began to become more popular, they began to use the practice of accumulating other people's capital at the expense of contributions from their depositors, which led to the emergence of such a thing as bank deposits.
Contributions or deposits are needed so that in the future financial institutions can redistribute clients' capital for a higher percentage. The bottom line is that each depositor, taking his money to a bank branch, lends it to him at a certain interest rate set for deposits. And the bank, in turn, lends these funds to those who applied to it for a loan (individual citizens, individual entrepreneurs or companies), and receives a fixed percentage from them.
Of course, commercial banks it is necessary to effectively encourage depositors to accumulate and save money in their accounts. To do this, they conduct a flexible deposit policy, consisting in a high interest rate on deposits, guarantees of the reliable safety of their deposits, as well as the availability of information about the activities of banking organizations.
It is believed that in the capital of modern banks 80% are borrowed finances, and only 20% are their own. Such a small share of its capital is explained by the fact that it is necessary only for the ability of banks to carry out their activities:
Thus, the equity capital of a banking organization is, in fact, its kind of guarantee fund, and it is simply necessary to ensure the stability and efficiency of its work. Considering that huge amounts of their clients pass through the “hands” of financial institutions every day, they can be called a kind of intermediary between those who need money and those who can provide it.
Firstly, the bank redirects the accumulated amounts in favor of those who turn to it with their financial needs, that is, borrowers. Secondly, he does not acquire ownership of this money, because their owners are depositors who have made their cash contributions to deposit accounts. Thirdly, such financial institutions operate on the basis of licenses and are authorized by regulatory authorities to carry out such activities. In addition, as has already been noted, the share of its own funds in the bank's capital is extremely small compared to that of others. Thus, it is difficult to deny that accumulation is temporary free finance is one of the most important functions of a bank.
What is the main purpose of the accumulation of free cash? The role of this process is important for the financial institutions themselves, citizens and for the entire state.
First of all, banks perform the function of financial redistribution, as well as support for small and medium-sized businesses. As you know, the category of bank borrowers includes not only individual individuals who need money for recreation or new purchase, but also entrepreneurs caught fire interesting idea but do not have the financial ability to implement it. The accumulation of finances makes it possible to concentrate as much money as possible, transferred by investors, and give it to those who are eager to put it into business. And the development of business directly affects the development of the entire state economy and the replenishment of the country's budget.
Also, accumulation allows you to reduce the costs of finding credit finance, that is, to avoid large time and financial costs when looking for borrowed funds.
This mechanism also provides an opportunity to make a profit. That is, when financial institutions redistribute temporarily free financial resources, they can receive income in the form of the difference between the interest they charge from borrowers and the interest they pay to savers.
What can be said about accumulation in the end? In essence, it is getting money from money. The main method of accumulating funds is to attract cash deposits citizens and organizations. Everyone benefits from this activity:
Not only banks are engaged in the accumulation of "free" money - various financial and industrial enterprises and investment funds also accumulate financial resources for investment. But their main difference from banking institutions in this case, it is that they perform such activities for their own purposes. Therefore, it is bank accumulation that is very important both for the population and for the state economy as a whole.
Many people are engaged in this or that accumulation. So, some people save their working days so that later they get a big health vacation, others collect things, and then they take everything that has accumulated safely to the country, and still others prefer to accumulate money. In the article, we will take a closer look at the last hobby, which is called the "accumulation of funds" in the literary language.
What is accumulation anyway? Translated from Latin, this word means "accumulation". In our case, we are talking about the financial side of the issue, and, therefore, the accumulation of funds implies the accumulation of one's own or externally attracted funds in order to benefit by providing these financial assets to a person in need at a certain percentage.
In simple words, the accumulation of funds is good way increase capital. From the outside, everything seems quite simple, but in our time there is a problem of uniting persons who own free funds in the required amount and people who need them.
The accumulation of funds is an important phenomenon in the economy of any state. Among the main functions that are performed by this process, the following should be indicated:
Often, ordinary citizens and owners of small or medium-sized businesses have situations when a large amount is urgently needed, but there is none on their hands. In this case, a citizen can apply to several borrowers and collect the necessary amount of money (for example, to buy a home or a car). The citizen will have to continue to pay interest within the agreed time frame to each of the borrowers. This, of course, is inconvenient and takes a lot of time. And if one of the borrowers pooled their free funds and others' funds and borrowed them for a needy citizen, then this would already be an accumulation of citizens' funds. The Bank today in the financial world plays a leading role in terms of the concentration of their own and other people's money and their subsequent use. Therefore, most of the population now prefers to apply for a loan to a banking organization rather than to a private person.
AT modern society the brightest representative, which is characterized by the accumulation of funds, is credit and commercial structures, in particular, banks. It is they who are engaged in the fact that they concentrate the free money of the population with the aim of their further redistribution and profit.
Few people know, but earlier banks used exclusively their own free funds. However, over time, the popularity of these organizations has grown significantly, and they began to borrow money from citizens. Thus, various types of deposits appeared. Why do banks need such deposits? The accumulation of money is done in order to attract free financial resources of the population and their redistribution for a more significant percentage. The whole point is that a person takes his funds to the bank and borrows a certain amount for him at interest (the corresponding interest on the deposit). The bank, having received this money, borrows it for needy people at an even higher percentage, that is, it provides a loan.
According to statistics, today banks have about 20 percent of their own funds in their arsenal, while borrowed funds account for 80%. This information confirms the fact that a banking organization is a kind of intermediary between persons who own free money and those who need it.
One of the most common ways to attract free funds of the population and non-profit organizations are contributions. To attract as much as possible more money, banking structures use such forms of savings as: bonus, pension, youth, winning, etc. In some countries, in addition to the interest received from the deposit, the population is provided Additional services(free postal orders telegraph, trade services, etc.). For example, in the United States among term deposits first place is occupied savings deposits population.
The work of a banking organization for the accumulation of funds has a number of features:
Consider what is good savings for citizens and the state as a whole. The accumulation of citizens' funds allows the holders of free money themselves to profit from them. In addition, accumulation helps develop small and medium-sized businesses in the country, replenish the state treasury, and at the same time improve the standard of living of the population. As for the replenishment of the state budget, state banks play an important role here, which act as guarantors of saving citizens' deposits. Often people, choosing between private commercial organizations and state ones, opt for the latter, since the level of trust here is much higher. Commercial structures, in turn, attract the population with higher interest rates on deposits and lower - on loans.
