The budget process in the Russian Federation

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In Russia, the duration of the fiscal year is set at twelve months (from January on 31 December).Thus, the need for budgetary acts appears to be once a year, in connection with which there was the concept of the budget process.

in Russia this phenomenon is regulated by law, an activity that is carried out by local and state authorities to build, review, approval, and implementation of revenue and expenditure corresponding levels.

budget process in the Russian Federation includes the procedure of regulation.It is carried out under the redistribution of financial resources between the consumable-profitable systems of different levels.

Experts identify certain stages of the budget process.These include:

  1. Budgeting.
  2. review, approval.
  3. implement Article, control over the execution.
  4. formation and approval of performance reporting.

Budgetary system of the Russian Federation includes the budgets of different levels.To her competence include federal system of income and expenditure items and the establishment of common principles.The budget process in the Russian Federation is based on these principles.Detailed regulation of the procedure is carried out and the legislation of subjects of the charters of municipal formations.

budget process in Russia begins with drawing-profitable items of expenditure.This procedure is carried out executive bodies or bodies of administration in the municipality.The procedure is performed on the basis of the forecast and in line with the programs of socio-economic development of the territory.Programs and forecast possible to determine the expected level of income, as well as the basic directions, according to which spending is carried out.

The Government of the Russian Federation organized the work on bringing to the executive and representative bodies of guidance letters.It specifies the particular preparation of calculations of budget projects for the upcoming fiscal year.Instructive letter also contains information on centrally established financial and social standards that should be taken into account when drawing up profitable-expenditure items.The work carried out to bring the information no later than seven months before the start of the next financial year.

executive bodies of subjects, in turn, brought instructions to municipal authorities instructed.

If the envisaged amount of income items do not comply with the minimum security budget, the relevant executive authorities imposed the necessary calculations to substantiate the size of contributions, grants, subventions to be transferred from the higher budget systems.Presentation of calculations carried out within the terms.

Thus, the relevant executive body, since the budget process in the Russian Federation by making a profitable-expenditure items, collects information about the projected rate of contributions, amounts of subventions and subsidies, which are scheduled to provide the list of revenues and mandatory expenditures, which are enshrined in the articles, andprograms and forecasts for the development of the relevant areas, projects, and other estimates.

executive bodies have the right to submit proposals to clarify or change the projected interest payments, the size of payments and others.These proposals for amendments are first considered by the executive authority of a higher level.If the answer is formed of disagreements.It contains studies of failures and proposals on an equal footing formed a conciliation commission.The adoption of a final decision by the executive authority of the parent.