budget process is represented by the activities of all state bodies, regulated by normative documents.These bodies are responsible for the timely preparation, detailed consideration and approval to the extent necessary national budgets, as well as control over their implementation.
One of the components of the process of adoption of the budget is appropriate regulation, submitted by the partial redistribution of public finances among the budgets of all levels.The duration of this process is called "budget period".
budget process uses such a thing as the fiscal year.It is equivalent to the calendar and lasts from the beginning of January to the end of December.
stages of the budget process are regulated by the Budget Code of the Russian Federation and are contained in the foregoing definition, namely:
- drafting of the budget document, the preliminary stage of which is the direct prediction of economic indicators for the coming year, and based on the results of relevant development plans;
- the consideration of the drafting of representative bodies, the terms and procedure of this document shall be established for a given year;
- approval of the budget is carried out in the fourth reading;
- implementation of the budget lies in the control of the timely completion of its revenues, as well as the financing of planned expenditures for the period January - December of each year;
- approval of the report on budget execution.
For a more complete characterization of the process it is necessary to consider more stages.
So, the first stage - drawing up the budget is the initial stage in which public authorities determined the amount of the budget, monetary and fiscal policy of the government for the next year, the main directions of budget deficit and the redistribution of expenditure between the structural components of the system.
next stage - the consideration of the budget, which is carried out for six months prior to its approval by law.At this stage, actively participate in the discussion takes government, financial and banking authorities.Typically, this procedure takes place in several readings, the results of which are coordinated all contentious issues.The result of this stage is adopted in law the state document stipulating the country's revenue and expenditure for the coming year.
budget process includes a stage as execution.This step is quite complex, and includes the participation of a huge number of ministries, agencies and organizations.
participants of the budget process as stipulated by the Budget Code of the Russian Federation.These include the President of the Russian Federation, state authorities of the monetary system, the bodies of all levels of government, municipal and state financial control, the main managers of budgetary funds, as well as other bodies to which the relevant laws and regulations of the Russian Federation imposed tax and other authorities.
The budget process should be based on the principles of comprehensiveness and unity of the budget revenues and expenditures, the reality of budget transparency and publicity of its adoption each year of the process, its independence and specialization of budget indicators.Only under these principles, the state has the opportunity to create such a budget under which public funds would be used sparingly and with maximum benefit for the state.
