Part revolving funds include:
1) a) production supplies - raw materials, auxiliary materials, purchased semi-finished products, fuel, containers, spare parts for equipment repair, as well as household equipment;
2) b) work in progress - objects of labor that are in production at different stages of processing in departments of the enterprise;
3) c) semi-finished products of own production - objects of labor, the processing of which is completely completed in one of the divisions of the enterprise, but are subject to further processing in other divisions of the enterprise;
4) d) deferred expenses, which include preparation and development costs new products, innovation and invention.
The relationship between individual groups, elements of working capital and their total volumes, expressed in shares or percentages, is called structure of working capital . It is formed under the influence of a number of factors: the nature and form of organization of production, type of production, duration of the technological cycle, conditions of supply of fuel and raw materials, etc.
Circulation funds – These are enterprise funds invested in finished product inventories, goods shipped but not paid for, as well as funds in settlements and cash in the cash register and accounts.
Funds of circulation are associated with servicing the process of circulation of goods; they do not participate in the formation of value, but are its carriers. After the production of products and their sale, the cost of working capital is reimbursed as part of the proceeds from the sale of products (works, services). This contributes to the constant renewal of the production process, which is carried out through the continuous circulation of enterprise funds. In their movement, working capital passes through three stages: cash, production and commodity.
19.20 planning and rationing of working capital
Sources of working capital formation (WCF) are divided into two types
1.Own OBS:
n working capital(funds of the owners of the enterprise);
· n profit is the main source;
· n stable liabilities (funds equivalent to own):
§ -wages arrears;
§ -debt to the budget;
§ - debt for packaging;
§ - prepayment.
2. Funds raised:
§ ¨ borrowed (short-term bank loans);
§ ¨ state loan;
§ ¨ other (remains of funds, reserves not used for their intended purpose).
To ensure the uninterrupted production and sale of products, as well as for the effective use of working capital at enterprises, their rationing is carried out. With its help, the overall need of the enterprise for working capital is determined.
Consumption rates are considered to be the maximum permissible absolute values consumption of raw materials, fuel and electrical energy for the production of a unit of product.
Consumption rationing individual species material resources requires compliance with certain scientific principles. The main ones should be: progressiveness, technological and economic feasibility, dynamism and ensuring a reduction in standards.
In practice, three methods of rationing working capital are used:
1) analytical- provides for a thorough analysis of available commodity- material assets followed by extraction of excess from them;
2) coefficient- consists in clarifying the current standards of own working capital in accordance with changes in production indicators;
3) direct counting method- scientifically based calculation of standards for each element of regulated working capital.
When establishing norms and standards for the planned year, it is recommended to use the experimental-statistical and calculation-analytical method.
Working capital norm- the value corresponding to the minimum, economically justified volume of reserves. It is usually set in days.
OS standard- the minimum required amount of funds to ensure the continuity of the enterprise.
The OS norm (N a.os) is determined by the formula:
N a.os = Z tech + Z str + Z tran + Z tech + P r,
§ where Z current is the current stock (the main type of stock, the most significant value in the OS norm);
§ 3 pages - safety stock;
§ Z tran - transport stock;
§ Z technical - technological stock;
§ P r - time required for acceptance.
Working capital standard in production inventories defined:
Z av.s * N z,
§ where З ср.с – average daily consumption in value terms;
§ N z - stock norm in days.
Standardization of fixed assets in work in progress(N np) is carried out according to the formula:
N np = VP avg. * P c * K,
§ where VP avg.d is the average daily output at production cost;
§ P c - duration of the production cycle;
K is the coefficient of increase in costs, which, with a uniform increase in costs, is determined by the formula:
§ where F e - one-time costs;
§ F n - increasing costs;
§ C - cost.
With an uneven increase in costs
K = C av / P
§ where C av is the average cost of a product in work in progress;
§ P - production cost products.
Working capital standard for deferred expenses(N b.p.) is determined by the formula:
N b.p. = RBP beginning + RBP pre – RBP s,
§ where RBP beginning is the carryover amount of deferred expenses at the beginning of the planned year;
§ RBP pre - deferred expenses in the coming year, provided for in the estimates;
§ RBP c - deferred expenses to be written off against the cost of production for the coming year.
Working capital standard in finished product balances defined:
N g.p = VGP days. * N W.skl. ,
§ where VGP days. - cost of one-day production of finished products;
§ N z.skl - the norm of their stock in the warehouse in days.
The total working capital standard is the sum of working capital standards calculated for individual elements.
21. Efficiency of use of working capital
The indicators of the efficiency of using working capital include the following.
1. The duration of one revolution (D o) is determined by the formula:
§ where C about - balances of working capital for the period;
§ T per - number of days in the period;
§ V real - the amount of products sold.
2. The turnover ratio shows the number of revolutions made during a certain period. It is determined by the formula:
3. The OBS load factor characterizes the amount of working capital per 1 ruble. products sold:
4. Profitability of working capital is calculated as the ratio of the enterprise's profit to the average annual cost of working capital.
As a result of the acceleration of turnover (the intensity of use of fixed assets), a certain amount of fixed assets is released.
Absolute release reflects a direct decrease in the need for working capital. Absolute release occurs when
With o.fact< С о.план, V реал = const ,
§ where С o.fact - actual balances of the OS;
§ C o.plan - planned remnants of the operating system;
§ V real - sales volume.
Absolute release is determined by the formula:
AB = C o. fact - C o. plan.
Relative release OBS occurs when turnover accelerates with increasing production volume. Unlike absolute release, the funds released cannot be withdrawn from circulation without maintaining continuity of production.
22. Formation of personnel of the enterprise.
primary goal formation of personnel at the enterprise - minimizing losses caused by the discrepancy between the work abilities and personal qualities of people potentially formed in the learning process with the possibilities of their use in performing specific types of work, potential and actual employment.
The formation of personnel should be based on the following principles:
· correspondence of the number of employees to the volume of work performed and the qualifications of the employee, the degree of complexity of it labor functions;
· compliance of the enterprise personnel structure with objective factors of production;
· creating conditions for continuous training and expanding the professional profile of employees;
· maximum efficiency in using working time.
Formation of enterprise personnel requires the development of a support system, which should cover the following stages:
1. preparatory (career guidance, vocational selection);
2. distribution (selection and placement of personnel);
3. adaptation (formation of socio-psychological structure, interpersonal connections, i.e. socio-psychological adaptation; vocational training).
Labor resources - this is a part of the working age population that has the necessary physical development, knowledge and practical experience for work in the national economy. Labor resources include both employed and potential workers.
Enterprise personnel (personnel, labor collective)- this is the totality of employees included in its payroll.
All employees of the enterprise are divided into two groups:
- industrial production personnel, engaged in production and its maintenance;
- non-industrial personnel, mainly employed in social sphere activities of the enterprise.
Based on the nature of the functions performed, industrial production personnel (IPP) are divided into four categories: workers, managers, specialists and technical performers (employees).
Workers - These are workers directly involved in the production of products (services), repairs, movement of goods, etc. These also include cleaners, janitors, cloakroom attendants, and security guards.
Depending on the nature of participation in the production process, workers, in turn, are divided into main (producing products) and auxiliary (serving the technological process).
Managers - employees holding positions of enterprise managers and their structural divisions(functional services), as well as their deputies.
Specialists - workers performing engineering, technical, economic and other functions. These include engineers, economists, accountants, sociologists, legal advisers, standard setters, technicians, etc.
23. personnel of an economic entity. Classification
All employees, depending on the degree of their participation in production activities, are divided into industrial and non-production personnel.
To industrial P production personnel include workers directly involved in the production of products, performance of work and provision of services.
Non-industrial personnel - workers serving non-industrial farms and organizations of an economic entity. These include workers in housing and communal services, children's, medical and sanitary, cultural and educational institutions, etc.
Industrial production personnel, depending on the nature of the functions performed in the production process, are divided into workers (main and auxiliary), office workers and engineering and technical workers (specialists and managers).
To the workers include workers directly involved in the creation of material assets and the provision of production and transport services. Workers are divided into main and auxiliary. Their ratio is an analytical indicator of the work of an economic entity.
Essential workers directly engaged in the manufacture of products, provision of services and performance of work.
Auxiliary workers serve technological processes of the main and auxiliary production (adjusters, heat engineers, etc.).
Employees - employees performing accounting, statistical, office work, supply and sales and administrative functions.
Engineering and technical workers perform the functions of technical, organizational and economic leadership and management.
Very useful when analyzing production economic activity divide personnel into the following categories: managers, specialists, employees, workers.
An important area of personnel classification is their distribution according to professions, specialties, and qualifications.
According to the level of qualification, workers are divided into unskilled, semi-skilled, skilled and highly skilled. The qualifications of workers are determined by ranks. Experts are divided according to qualification categories: specialist 1, 2, 3 categories and without category.
Managers are distributed across management structures and management levels.
According to management structures, managers are divided into linear and functional, and according to management levels - into top, middle and lower levels.
With the emergence of a market economy, new elements have appeared in the classification of personnel - managers of different levels. These include managers of all management levels, as well as specialists in management services: advertising, sales, personnel managers, etc.
24. payroll and turnout numbers
In the practice of personnel accounting, a distinction is made between attendance, payroll and average numbers. Turnout number – These are workers who report to work. IN payroll personnel includes all employees who report to work, as well as those who are absent for any reason (workers on vacation, business trips, absent due to illness, engaged in performing state and public duties, etc.).
The list of employees of the enterprise includes all workers and employees hired for seasonal, temporary and permanent work. The list does not include employees hired for less than one day. Those hired to work part-time are accounted for separately.
The number of employees on the payroll is constantly changing and can only be recorded on a certain date, therefore, to characterize the number of employees for a month, quarter, or year, determine average number. The average payroll number is calculated by summing the payroll of employees for all days of the month (including holidays and weekends) and dividing the resulting amount by the number calendar days in a month. At the same time, the payroll number of workers on weekends and holidays taken from the previous day.
25. personnel planning and recruitment.
Purpose headcount planning is to establish the optimal number of workers to ensure uninterrupted production process with minimal labor costs.
Task determining the need for workers and the sources of its satisfaction is decided on the basis of the results of an analysis of the adequacy of personnel and forecasting its dynamics, based on expected changes in the structure of the enterprise, the range and quality of products, technology, organization of production, labor and management, as well as the state of internal and foreign markets labor. The total number of employees of the enterprise ( H pl ) in the presence of planned targets for production volume and labor productivity is determined by the following formula
§ Where H bases- number of employees of the enterprise in the base period,
§ I rev- production growth index in the planning period,
§ I Fri- labor productivity growth index in the planning period.
Selection and placement of personnel are of key importance in the formation of personnel. The essence of personnel selection is that, based on the general and specific requirements for a candidate for a given position, and an assessment of all available candidates, a decision is made to select the best one.
Recruitment can be carried out in the following ways:
1. Recruitment is an appointment (competition), which is associated with the involvement in the management of outside workers who have not previously worked at the enterprise.
2. Promotion – appointment of an employee working in a given team to a new, higher position (vertical relocation).
3. Rotation - an appointment in which the place of work or position can change horizontally.
26. indicators of changes in headcount.
The movement of workers in the enterprise (turnover) is characterized by the following indicators:
- admission turnover ratio is the ratio of the number of all hired workers for a given period to the average number of employees for the same period;
- turnover ratio for retirement is the ratio of all retired employees to the average number of employees;
- staff turnover rate is the ratio of those who left the enterprise for unjustified reasons (at the initiative of the employee, due to absenteeism, etc.) to the average number of employees (determined for a certain period).
27. working time and its use. Working time budget
The main units of time recording are man-hours and man-days. A person can and should work daily no more than the time defined as the duration work shift, and sometimes more, but only within the legal limit of overtime hours worked.
A man-hour of worked or unworked time is considered to be one hour of an employee’s stay during a shift at the enterprise, and a man-day is one day of an employee during his stay as part of the company’s personnel.
To determine and evaluate the actually achieved results of using labor resources, it is necessary to determine:
The total amount of labor resources;
Dimensions beneficial use their losses
The calendar fund of workers' time, both in general and for individual categories and groups, can be determined in two ways: either by summing the payroll numbers of workers for all calendar days of the period, or by multiplying the average payroll number of workers by the number of calendar days in the same period for which it was the average payroll number has been determined.
In practice, not all of the calendar time is actually used. The calendar fund of each employee’s time for a long period of time will include weekends, holidays, vacations provided for by labor legislation; days of absence from work due to illness and other reasons; absence from work with the permission of the administration, absenteeism, etc.
The structure of the calendar fund of time for an economic entity as a whole, for individual categories and groups of workers is determined by drawing up a balance of working time.
It is advisable to provide the structure of the calendar fund of time in an enlarged form, highlighting within the calendar fund the time fund, the maximum possible (nominal), scheduled attendance, actual and effective working time fund (real fund).
Time sheet working hours equal to the difference between the calendar fund of working time and the number of days, at. holidays and weekends.
Maximum possible working hours equal to the difference between the working time fund and the number of days falling on regular vacations.
The available time fund appears in the form of a planned and actual fund.
Available planned working time fund is defined as the difference between the maximum possible working time and the full-day loss of working time provided for by labor legislation: maternity leave, child care leave, educational leave, absence from work due to illness, etc.
Available actual working time fund is defined as the difference between the available planned working time fund and unplanned full-day losses of working time not provided for by labor legislation: absenteeism, absenteeism with the permission of the administration, whole-day downtime.
All of the above types of working time funds are determined in days; the effective (real) time fund is calculated in hours. When determining uh effective time fund based on working hours and average working hours. The effective working time fund of one worker characterizes the average number of hours that an employee must work during the planning period.
Labor legislation regulates the length of the working week in hours (40 hours) as a basic standard, however, the legislation also provides for a reduction in the duration of the working day. These groups of workers include teenagers under 18 years of age; workers engaged in heavy and hazardous work.
Average number of man-hours worked calculated by dividing the total number of hours worked by employees
Working capital - this is a set of funds advanced (invested) for the creation and use of circulating production assets and circulation funds to ensure the continuous process of production and sale of products, works and services.
Working production assets- these are objects of labor (raw materials, basic materials, semi-finished products, auxiliary materials, fuel, etc.) means of labor with a service life of no more than a year or a cost of no more than 50 times the established minimum wage per month (minimum wage) work in progress and future expenses period.
Circulating production assets include part of the means of production, material elements that are used in the labor process in each production cycle; their value is transferred to the product as a whole and they immediately lose their consumer value as they are consumed in production; new consumer value arises in the form of the product produced from them.
Taken together, fixed and production assets represent the total production potential of the enterprise.
2nd part of production assets, capital circulation.
Features of working capital:
1. the movement of circulating production assets and circulation funds is of the same nature and constitutes a single process, which makes it possible to combine them into general concept working capital.
2. after the end of production cycles, production of the product and its sale…. This creates the possibility of systematically resuming the production process, which is carried out through the continuous circulation of enterprise funds.
All working capital, in turn, is divided into normalized working capital……..which accounts for about 80%.
2. And they are first converted into inventories and semi-finished products and, after completion, into finished products, i.e. into commodity form.
3. Finished products is implemented, i.e. circulating assets from the sphere of production move into the sphere of circulation and again take on monetary form.
Moreover, at each stage the time spent on working capital is not the same.
From consumer and technological properties of products.
In 2x from the features of its production and sale.
The total duration of the circuit …….
In practice, this means that an increase in the circulation of funds leads not only to the diversion of own funds, but even to the need to attract funds in order not to interrupt the continuity of production.
Working capital turnover ratio- which is defined as a ratio: How many sold products were produced per unit value of working capital during the billing period. The coefficient shows the number of revolutions made by working capital during the period.
Coefficient of fixing working capital(working capital load factor for loading) - its economic meaning is how much working capital is secured or loaded into production and a unit of production in the billing period. Short circuit is determined = 1/Kob.
The duration of 1 turnover of working capital is determined as the product of the load factor * D (number of days in the period).
Needs.
From the standpoint of the requirement for efficient economic management.
Deferred expenses are determined taking into account their balance at the beginning and end of the planned period.
Sources of formation of working capital:
· The sources of the formation of working capital are own and equivalent working capital, which are reflected in its authorized capital and, when establishing their sizes, are based on the minimum need for them to fulfill the production plan, sell products and carry out all payments on time, equivalent to own sources the stable liabilities of the enterprise act, i.e. These are funds that are not the property of the enterprise but, according to the time of turnover, are constantly with it. In particular, these include a constant minimum debt for the enterprise and a constant debt for contributions to extra-budgetary funds and a constant minimum debt for wages.
· Borrowed, short-term loans and bank loans for up to 1 year. They serve to cover the temporary debt of the enterprise.
· Raised funds from other enterprises that are in temporary use by this enterprise. Most often, these are accounts payable to suppliers of material assets.
The question of the way and acceleration of the turnover of funds.
Of great importance are:
1. correct determination of the duration of 1 turn;
2. maximum acceleration of the production cycle, i.e. reducing the time spent by objects of labor in the cycle;
3. reduction of excess stocks of valuables, which is achieved through:
a) improving the organization
b) improving the rhythm of production;
c) rational organization of warehousing, storage of materials and semi-finished products;
d) reducing the distance of material transportation (if possible, pick up suppliers somewhere within the region so that they can be reduced);
e) reduction of materials between related supplies;
4. by reducing the volume of work in progress (the smaller the balance of independent production, the more finished products).
The efficiency of capital lies not only in the conclusion of turnover, but also in reducing the cost of production by saving the natural material element of production capital and distribution costs.
Ways to increase the efficiency of working capital can be compared with the stages of the circulation of funds. In particular, at the stage of production inventory, such ways can be distinguished: establishing progressive standards for the consumption of raw materials and materials; proper accounting and planning of material resources; checking the status of stocks of raw materials; and replacement of expensive raw materials and materials with cheaper ones.
At the production stage, the following ways to increase efficiency can be identified: reducing production duration; reducing the rhythm of the enterprise; reduction of production losses; and improving product quality.
In the sphere of circulation we can distinguish:
1. rational supply of raw materials;
2. Organization and improvement of the marketing service;
3. reduction of debits and receivables.
First of all, let’s define what an enterprise’s funds are. The company's funds represent the totality of all money in hand, in bank settlement, currency, special and deposit accounts in issued letters of credit and special accounts, check books, transfers in transit and monetary documents. Monetary assets also include investments in easily marketable securities and claims to receive funds.
Cash characterizes the initial and final stages of the circulation of economic assets.
The speed of cash flow is largely determined by the efficiency of business activities. The volume of money available to an enterprise, as the most important means of payment, determines the solvency of the enterprise; this is one of the most important characteristics of its financial position.
Cash is the only type of working capital that has absolute liquidity, that is, the immediate ability to act as a means of payment for the obligations of the enterprise. It is their volume that determines the solvency of the enterprise. To determine the level of solvency, the volume of cash is compared with the volume of current liabilities of the enterprise. Enterprises that have sufficient funds to pay their current obligations are considered solvent. In addition, the company needs cash reserves to pay for possible unforeseen obligations, as well as to make profitable investments. However, any excess cash reserves lead to a slowdown in their turnover, that is, the efficiency of their use decreases, and in conditions of inflation lead to serious losses due to their depreciation.
The art of cash flow management is not about accumulating more money, but about making the best use of it and planning for it cash flows, in which, for each next payment of the enterprise for its obligations, the receipt of money from buyers and other debtors was ensured, while maintaining the necessary reserves. This approach provides an opportunity to maintain the solvency of the enterprise, extract additional profits, due to the investment of emerging free monetary resources, preventing their death.
The special importance of funds lies in their role as a tool for managing cash flows, monitoring the safety, legality and efficiency of using funds, maintaining the daily solvency of the enterprise.
The essence of money is manifested in its functions.
1. Money as a measure of value.
Equating a commodity to a certain amount of money gives a quantitative measurement of the value of the commodity. The value of a product, expressed in money, is its price. The cost measure function is implemented based on the price scale. The scale of prices, as an indicator of the magnitude of the cost, is converted into a market price expressed in national monetary units.
2. Money as a means of circulation.
Money as a medium of exchange allows resource owners and producers to pay with a product (money) that can be used to purchase any other product or service available on the market. Money allows you to avoid the inconveniences that arise during barter exchange.
3. Money as a means of accumulation, savings and the formation of treasures.
Money withdrawn from circulation for the purpose of accumulation serves as a means of creating treasures and preserving value.
Treasures are the accumulation of precious metals in the form of coins, bars, jewelry and other items owned by the state or private individuals. The market system encourages the conversion of treasures into profit-generating capital through the credit system, including the stock exchange.
4. Money as a means of payment.
Goods cannot always be sold with immediate payment for cash, so settlements arise that are extended over time and are actually based on deferred payment of money. Money functions as a means of payment not only when paying for goods purchased on credit, but also when repaying other obligations, for example, when repaying cash loans, paying land rent, paying taxes, as well as in settlements between economic agents that are carried out through banks.
The monetary system is a form of money circulation in cash and non-cash forms. It includes the following elements: the monetary unit, the scale of prices, the types of money in the country and the procedure for their issue, as well as the state apparatus that regulates money circulation.
In the process of economic activity, organizations constantly settle payments with suppliers for fixed assets, raw materials, materials and other inventory items and services provided, with buyers for goods purchased and customers for work performed and services rendered, with credit institutions for loans and other financial transactions, with a budget for various types of payments, with other individuals and legal entities for various business transactions.
Cash payments are made either in the form of non-cash payments or in cash. Non-cash payments in a market economy are carried out using payment orders and other payment documents, by transfers to clients' current and current bank accounts. Unlike cash payments, when money is directly transferred by the payer to its recipient, non-cash payments are carried out for the most part using various banking, credit and settlement operations that replace cash in circulation. The use of non-cash payments reduces the need for cash, reduces the cost of money circulation, contributes to the concentration of free funds of organizations in banks, and ensures their more reliable safety.
For the proper organization of money circulation, accounting of funds, settlement and credit transactions is important.
The skillful use of funds in itself can bring additional income to the organization, for example, through the rational investment of temporarily free funds to make a profit (in bank deposits, government securities, securities of other organizations, investment funds, and so on).
Main tasks accounting funds are:
Validation check documentation and the legality of transactions with funds, settlement and credit transactions;
Timely and complete reflection of cash transactions in accounting;
Ensuring timeliness, completeness and accuracy of payments for all types of payments and receipts;
Identification of receivables and payables;
Timely identification of the results of inventory of funds, monetary documents and settlements;
Ensuring the collection of receivables and repayment of accounts payable from loans from credit institutions within the established time frame;
Ensuring the safety of funds, monetary documents at the cash desk and other places where they are stored and issued;
Uninterrupted cash satisfaction of the organization’s urgent needs;
Cash flow management;
Investing free funds in sources of financial investments that generate income.
To account for cash and settlement transactions, a system of accounting accounts is used, combined into the sections “Cash” and “Settlements”. They include cash accounts, settlement accounts, currency and special accounts, monetary documents, transfers in transit and all types of internal and external settlements of the organization.
Sources of formation of state financial resources: - taxes, duties and fees; - reserve and insurance funds, voluntary contributions from legal and individuals; - funds from the issue and placement of government securities; - receipts from the use or sale of state property; - funds from the sale of the country's gold reserves; - external and internal state borrowings.
FUNCTIONS OF FINANCE.
The essence of finance is revealed through its functions. The main function is distribution, it is expressed through the process of using previously accumulated funds to meet the relevant needs and requirements of the economic system for financial resources, forming cash income and savings in the creation of a social product.
The function is implemented using primary and secondary income.
Primary(basic) incomes are formed by distributing national income among participants in material production.
Secondary derivative) income is formed by redistributing national income between production and non-production spheres, regions of the country, industries, and social groups. Thus, the state forms its budget through various taxes, mandatory contributions and fees.
The distribution function is necessary for reproduction, the formation of the expenditure side of the country's budget, as well as the finances of individuals.
Control the function is implemented via financial control. If control is not exercised, then in practice it is impossible to assess the effectiveness of the distribution function. F.K. - a system of measures through which real control is exercised over the activities of all economic structures economy, as well as the distribution and redistribution of gross domestic product (GDP).
From the perspective of practice F.K. is a set of measures to organize compliance with financial legislation and financial discipline of all business and management entities, as well as an assessment of the effectiveness of financial transactions and the feasibility of expenses incurred. Thus, F.K. not only includes an assessment of the legality of certain financial actions, but also has an analytical aspect. F.K. like all financial categories, it changed with the evolution of financial relations. Historically, it arose as state control over the expenditure of the state treasury.
State control- legal regulation financial relations in the Russian Federation.
First of all, it covers control of budgetary legal relations. The bodies of state financial control are special units:
1. on the part of the Presidential Administration - the Main Control Directorate of the President of the Russian Federation created in accordance with his decree. Exercises control over the activities of control and supervision bodies under federal executive authorities, as well as divisions of the Presidential Administration; consideration of complaints and appeals from legal entities and individuals. If financial irregularities are detected, it has the right to send orders to eliminate them. Based on the results of inspections, he makes proposals for consideration by the president. The Main Control Department itself does not have the right to apply any sanctions to violators.
2. control from the Federation Council belongs to the Accounts Chamber of the Russian Federation. It is accountable only to the Federal Assembly of the Russian Federation and its activities are related to the control of federal property and control over the expenditure of federal funds. All economic entities are subject to control, regardless of their form of ownership or departmental affiliation. In addition, the powers of the Accounts Chamber include monitoring the activities of the Bank of Russia, the Government of the Russian Federation related to servicing and fulfilling obligations on public debt, monitoring the effectiveness of the use of foreign loans and borrowings, as well as the provision of loans and financial assistance by Russia to foreign states and international organizations. Thematic checks and revisions serve as a form of control. When violations are identified, submissions are sent to take measures to eliminate them; if the instructions are not followed, the board of the Accounts Chamber, in agreement with the State Duma, can suspend all types of payment transactions of the violator, and in cases of theft of public funds, the cases are referred to law enforcement agencies. Orders of the Accounts Chamber may be appealed in court. The Accounts Chamber does not have the authority to take administrative measures against violators of financial discipline.
3. on the part of the executive branch are the Interdepartmental Council for State Financial Control, the Ministry of Finance of the Russian Federation, as well as the financial authorities of the constituent entities of the Federation. The Council includes the Chairman of the Bank of Russia, the head of the Federal Treasury, and heads of financial control bodies. Representatives of the Prosecutor General's Office and law enforcement agencies may be involved in the work of the Council. The Council is headed by the Minister of Finance of the Russian Federation.
The Ministry of Finance of the Russian Federation exercises financial control at all stages of the formation and use of the federal budget and extra-budgetary funds by all executive authorities.
Operational control over the use of public funds within the Ministry of Finance of the Russian Federation is carried out by the Department of State Financial Control and Audit and the Federal Treasury. It is entrusted with the functions of conducting audits and thematic inspections of the financial and economic activities of enterprises and organizations using funds from the federal budget and state extra-budgetary funds; financial control budgetary organizations. Based on the results of inspections, if violations are detected, proposals are sent to the management of the violator to eliminate them and monitor the progress of implementation.
Federal Treasury bodies exercise state financial control over compliance with the execution of the federal budget and federal extra-budgetary funds. They have the right to: issue orders for the recovery of public funds subject to return to the budget, the return period of which has expired; collect penalties from commercial banks in case of untimely crediting of funds from business entities to the accounts of the federal budget and extra-budgetary funds; issue warnings to heads of executive authorities, bodies local government and recipients of budget funds about improper execution of the budget process; suspend transactions on accounts with credit institutions for up to 1 month.
Along with the indicated government agencies financial control, the functions of state financial control are also performed by other state bodies: the Ministry of Taxes and Duties, the Federal Tax Police Service, central bank, Ministry of State Property, Ministry of Antimonopoly Policy and Entrepreneurship Support, Customs Committee, Federal Commission for the Securities Market, etc.
Tax authorities, in accordance with the Tax Code of the Russian Federation, have the right to check financial documents legal entities and individuals, receive from them necessary information(with the exception of trade secrets), apply coercive measures against officials and citizens, including the seizure of relevant documents and the suspension of operations on bank accounts. The main function of the tax authorities is to control taxpayers and objects subject to taxation and tax audit.
Control over compliance with tax legislation is carried out by the authorities Federal service tax police of the Russian Federation. It does not apply to tax authorities. Its activities are of an operational-search nature and are associated with the identification, prevention and suppression of tax crimes and offenses.
Customs RF carry out state finance. control related to the movement of goods across the customs border of Russia.
The Central Bank of the Russian Federation is endowed with significant powers in the field of state and financial control. In its structure, there is a special control body - the Department of Banking Supervision. Its functions are verification and compliance by commercial banks with banking standards. The Central Bank has the right to apply to violators various measures of influence from the imposition of fines to the replacement of management, the revocation of a license, the liquidation of a commercial bank.
The main goal of the State Control is to maximize the flow of resources to the treasury and minimize the government costs of management.
At present, along with state control (Accounts Chamber, M.F., Control and Audit Office, Federal tax service etc.) there is non-state financial control, which is represented by:
In-house control
Commercial control banks for organizations, clients (corporate)
Audit control (external).
Intracompany control carried out by financial and economic departments and audit commissions enterprises, organizations. The regulation on the status of these bodies is determined by internal regulations (monitoring the effectiveness and expediency of costs, investment projects, assessment of the state of the enterprise).
Commercial banks control the established procedure for conducting settlement and cash transactions and currency legislation.
Audit control - activity on independent verification of accounting and financial reporting of organizations and individual entrepreneurs.
Its main purpose is to establish the reliability of financial statements in accordance with regulations operating in Russian Federation. In regulatory documents on audit activities differentiate external and internal, mandatory and initiative audit.
External audit is carried out by an independent audit firm on a contractual basis in order to assess the state of accounting and reporting, the effectiveness of the use of public funds. External audit cannot be carried out in relation to economic entities that are their founders, owners, shareholders, creditors, insurers and representative offices that have a share of these audit firms in their capital. And also if the audit firm provided this entity with services for maintaining accounting records and preparing financial statements. Concealment of facts deprivation of a license.
Internal audit carried out special apparatus management of an economic entity that reports to top management. Its main task is to protect the property interests of the organization and its owners, ensuring the efficiency of the organization’s functioning at all levels of management.
Main objectives of audit.
Conducting inspections of certain issues of the organization’s activities, drawing up certificates and reports on test results,
Checking the implementation of business contracts, setting up and maintaining accounting records, drawing up and maintaining accounting reports, examination of accounting. Balance sheets and reports,
Checking the availability, condition, correctness of property valuation, efficient use of resources, compliance with the current procedure for setting prices, tariffs, as well as settlement and payment discipline and timely payment of taxes,
Reliability of management accounting, accounting of production costs, reflection of the completeness of revenue from sales of products (works, services), correct use of profits,
Development of proposals for improving the organization of accounting,
Organization of preparation for external audits, inspections of tax and other external control bodies,
An audit may be:
-proactive- carried out at the suggestion of the economic entity itself;
-mandatory - carried out in the manner prescribed by law.
Based on the audit, auditors must express their opinion on the financial and economic activities of the audited enterprise in an official document.
This document has legal force for all legal entities and individuals, government and judicial authorities. All audit services are paid. The relationship with the client is formalized by an agreement with payment for services at negotiated prices.
Forms of control.
Mandatory (tax audits, control over the intended use of budget funds, audit);
Initiative (internal);
Preliminary (prevention of financial violations);
Current (carried out at the time of transactions);
Subsequent to assess the financial activities of economic entities.
Objects of control: - budget control; control over extra-budgetary funds; tax control; exchange control; credit control; insurance control; investment control; control over the money supply.
Control methods.
Survey-study of financial and economic indicators in order to determine its financial condition and possible development prospects.
Supervision - control over economic entities that have received a license for one or another type of financial activity.
Analysis - studying financially financial statements for the purpose of assessing the results of financial activities and liquidity, security own capital and the effectiveness of its use.
Observation (monitoring) - control by credit institutions.
Revision - a complete examination of the financial and economic activities of the entity in order to verify its legality, correctness, expediency, and effectiveness.
Types of audit: full and partial; complex and thematic; planned and unplanned. Conducted by state and non-state control bodies. The results are documented in an act, on the basis of which measures are taken to eliminate violations.
FINANCIAL POLICY- this is a set of government measures aimed at financing expanded reproduction, forming the federal budget, as well as maintaining the sustainable financial development of the country.
For formation financial policy The following factors significantly influence:
Specific socio-economic conditions of the country;
Level of development of fundamental science;
The role and degree of state participation in the economy;
Forms and methods of developing financial policy.
MAIN DIRECTIONS OF FINANCIAL POLICY:
Development of a scientifically based concept for the development of financial policy, based on knowledge of economic laws and analysis of the development of the social economy;
Determining the main directions for using finance for the future and the current period of economic development;
Development of specific measures aimed at achieving the set goals.
FINANCIAL POLICY OBJECTIVES- complete mobilization of financial resources necessary to meet the urgent needs of economic development, increasing the volume and efficiency of use of financial resources.
In accordance with this, financial policy is designed to create favorable financial conditions for the development of entrepreneurial activity.
When developing financial policy, much attention is paid to determining rational forms of withdrawal of income in favor of the state, as well as the share of participation of the population in the formation of financial resources.
Financial policy always assumes the sequence of financing:
Priority sectors of the economy and the military-industrial complex;
Science, basic research;
Social sphere.
Depending on the objectives, financial policy acts as:
financial strategy- a course of financial policy designed for the long term and providing for the solution of large-scale problems within the state;
financial tactics- a set of specific measures, methods and techniques for implementing the chosen strategy.
TYPES OF FINANCIAL POLICY directly depend on the political and economic situation in the country (historical and national characteristics, interests of the ruling parties, social groups population).
CLASSICAL TYPE - founder Adam Smith (1723-1790), who went down in history with the proclamation of his famous principle of the “invisible hand”, the essence of which is that the entrepreneur has only his own interest in mind (in pursuit of his own benefit, he is guided by an invisible hand to the goal that was not at all his intention. By pursuing his own interests, he serves the interests of society in a more effective way than when he consciously seeks to serve them.
Its main principles:
The market independently regulates the mechanism of demand and supply of goods and services;
Entrepreneurs independently decide what to produce and in what volume;
The state does not interfere in regulating the economy, free competition remains.
The consequence of these principles was the construction of financial policy based on reducing budget expenditures, which were aimed at military purposes and managing the public debt.
REGULATORY TYPE - founder J. Keynes (1883-1946).
The main provisions of his concept:
Financing of state-owned enterprises;
Creation of new jobs;
Decrease in unemployment rate;
Revitalization of business activity.
This led to an increase in government spending, which in turn caused additional demand for funds.
In the context of regulatory policy, income tax and the public credit system become fundamental instruments. Taxation ensures the withdrawal of income in the form of savings, which contributes to the balance of the state budget.
Keynes's theory demonstrated its significance in the 30-60s. It contributed to achieving high rates of economic growth and creating new jobs.
PLANNING TYPE - founder V.I. Lenin (1870-1924)
Key points:
Active role of the state in the economy;
State centralized distribution of financial resources between industries and enterprises;
Drawing up a 5-year plan within the state, broken down by year;
Setting targets for each industry and enterprise;
State control over the use of funds.
FINANCIAL MECHANISM on the one hand, a set of methods and tools that ensure the implementation of the state’s financial policy,
on the other hand, a set of types, forms of organization of financial relations, conditions and methods of calculation used in the formation and use monetary funds target destination.
The structure of the financial mechanism is very complex due to the huge variety of types and forms of organization of financial relations. Conventionally, it is divided into 3 groups:
The mechanism of functioning of public finances (centralized finances);
Financial mechanism enterprises of all organizational and legal forms;
Insurance mechanism.
Each is implemented through its own specific mechanisms:
State finance through the mechanisms of budget formation and extra-budgetary funds;
Enterprises using such forms as loans, leasing (a transaction in which one party, on behalf of the other party, enters into a supply agreement with a third party), factoring (assignment to the bank of unpaid debt claims arising between counterparties in the process of selling goods and services on the terms of a commercial loan, in combination with elements of accounting, sales, insurance, legal and other services of the supplier company), securities.
The financial system of the Russian Federation is a form of organizing monetary relations between all subjects of the reproduction process for the distribution and redistribution of the total social product.
In the process of distributing the value of the total social product, subjects of economic relations accumulate various funds of monetary income and savings. These incomes are divided into primary and final. Source primary income and savings is the gross domestic product, which appears in the form of: - wages of employees; - profits and depreciation charges for business entities; - tax and other payments included in the cost of products (works and services) from the state and local governments. Primary income serves as a source for the further redistribution process through the tax mechanism, payment system, profit distribution, etc. The result of this redistribution is final income that acts as the own financial resources of economic entities. Final financial resources are also the object of a subsequent distribution and redistribution process for use for their intended purpose.
Based on the formation of income of economic entities in financial system highlight:
· centralized or public finance,
· decentralized finance.
| Budgets of state extra-budgetary funds |
| State loan |
| State insurance |
| Finance commercial organizations |
| Finance of financial intermediaries |
| Household finance |
CENTRALIZED FINANCE - economic relations related to the formation, distribution and use of state funds accumulated in the state budget system and government extra-budgetary funds.
DECENTRALIZED FINANCE - monetary relations that develop within the framework of the activities of enterprises.
By sign mechanism for the formation and use of cash flows in the financial system there are four main levels or financial spheres:
· public finance– level of macroeconomics;
· finances of economic entities – microeconomics level;
· financial market, insurance – providing sphere;
· international finance – the level of the world economy.
THE ESSENCE OF FINANCE cannot be understood without revealing the system of monetary relations that arise between various economic entities.
Groups of economic entities: economic entities (enterprises, organizations, etc.), households and the state. The movement of funds between them forms financial flows and financial funds.
State funds of funds are formed at the macro level. These include the state budget and extra-budgetary funds.
The finances of business entities and households consist of funds formed as a result of economic activities at the micro level.
These include: consumption fund, accumulation fund, reserve fund, etc.
So, finance should be understood not so much as money, but cash settlements in economics between:
The state and legal entities of any organizational and legal form of ownership (withdrawal of taxes, customs duties);
Enterprises (monetary relations at product rates, transfer of money from account to account);
Enterprises and commercial banks (obtaining loans and paying %)
Individuals and employers (salary, payments)
Individuals and the state (income tax)
Legal entities of countries (export, import).
The basis of the financial system is Decentralized finance, since it is in this area that the predominant share of the state’s financial resources is formed. Part of these resources is redistributed to budget revenues at all levels and to extra-budgetary funds. At the same time, a significant part of the funds is used to finance budgetary organizations; commercial organizations in the form of subventions (budgetary funds provided to a budget of another level or a legal entity on a gratuitous and irrevocable basis for the implementation of certain targeted expenses), subsidies (budgetary funds provided to a budget of another level, an individual or legal entity on the basis of shared financing of targeted expenses) , and is also returned to the population in the form of social payments (pensions, benefits, scholarships, etc.).
A key place among decentralizations. finance belongs finance of commercial organizations. Here material wealth is created, goods are produced, services are provided, profit is generated - the main source of production and social development society.
Particular importance throughout the financial system developed countries the world have finances financial intermediaries. These are companies that organize the interaction of persons who have temporarily free funds with persons in need of funds.
Nonprofit Finance have their own specifics related to the generation of income, the procedure for their use, ownership of property, etc.
Non-profit organizations - these are organizations whose main goal is not to make a profit and do not distribute the profits between participants.
Their main goal is to achieve social, charitable, cultural, educational, scientific and managerial goals, protect the health of citizens, etc.
Non-profit organizations carry out financial and economic activities based on estimates of income and expenses.
INCOME PART consists of:
1. founders’ contributions - arise when an organization is created;
2.entry fees - can be received throughout the entire period of its operation;
3.membership fees - mandatory cash payments by members of the organization;
4. voluntary donations
5. targeted financing - proceeds from the founders of the organization;
6. income from business activities, if any.
CONSUMABLE PART consists of:
1. wages of employees - labor costs;
2. charges for wages(tax and contributions to the Federal Social Insurance Fund of the Russian Federation). Salary calculations are made when compiling staffing table;
3. utility costs;
4. administrative expenses (office, business trips, consultations);
5. business expenses and expenses for the repair of fixed assets, including expenses for maintaining buildings, cleaning structures, territories, premises, as well as routine repairs.
6. targeted expenses - ensuring uniform use of funds received;
7. other expenses - costs not reflected in other budget lines are included;
8. reserve for unforeseen expenses - expenses in previous reporting periods are included.
HOUSEHOLD FINANCE participates in the formation of finances through tax payments. How more income population, the higher its demand for various material and intangible benefits and the greater the opportunities for economic and social development.
Centralized finance represented by the budget system, as well as state and municipal credit.
As tools finance department are planning, control, organization and information support.
Organization - ensuring optimal goal achievement through organizational models.
Information Support-processing, analysis, accounting and forecasting of information.
The main object of financial planning is financial resources ( taxes and fees, funds from the issue of securities, proceeds from property, voluntary contributions, borrowings, from the sale of the country's gold reserves, etc.) redistributed between subjects of the financial system.
Long-term financial plans are developed for three years, of which a budget is drawn up for the first year; the next 2a year is a planning period where the real results of the declared economic policy are monitored.
Long-term plan adjusted annually taking into account the forecast of socio-economic development of the Russian Federation, its constituent entities, and municipalities.
Balance of financial resources– the totality of all income and expenses of the Russian Federation, constituent entities of the Russian Federation, municipalities and economic entities in a certain territory. Compiled on the basis of the balance sheet of the previous year in accordance with the forecast of socio-economic development.
Consolidated financial balance of the state– allows you to coordinate the indicators of all links of the financial and credit system, determine sources of financing for the activities stated in the forecast of social and economic development of the state, identify reserves of additional financial resources, make financial calculations and adjust the directions of financial policy.
In the balance of monetary income and expenditure of the population reflects the movement of monetary resources of the population in cash and non-cash forms. Income is generated from:
Salary, salary supplements, social benefits;
Income from business activities, transactions with personal property, and from credit and financial transactions;
Social transfers (pensions, benefits, scholarships).
Expenses: consumer; taxes and other payments, voluntary contributions; cash savings and savings.
The balance of income and expenses of the population is used to plan cash turnover, retail turnover, tax revenues, credit resources. Compiled at each financial level.
Financial forecasting– justification of indicators financial plans, forecasting the situation for a certain period, medium-term 5-10 years and long-term (more than 10 years).
The main goal of forecasting is to determine the realistically possible volume of financial resources and their needs in the forecast period. They allow you to develop various scenarios in solving socio-economic problems.
The basic principles of organizing local finances, sources of formation and directions for using financial resources of local self-government are enshrined in federal laws on general principles local government organizations, “About financial fundamentals local self-government in the Russian Federation”, “On the budget classification of the Russian Federation”, Budget Code of the Russian Federation, Tax Code of the Russian Federation, other federal laws and laws of the constituent entities of the Federation.
According to the Law on the Financial Basis of Local Self-Government, local finances include: a) local budget funds;
b) state and municipal securities owned by local governments; c) other financial means (Article 2).
The budget of a municipal formation (local budget) is a form of formation and expenditure of funds intended to provide tasks and functions falling under the jurisdiction of local government.
Local budgets are part of the structure of the unified budget system of the Russian Federation, constituting its third level (after the federal budget and the budgets of the constituent entities of the Federation).
Organization of inter-budgetary relations between local governments and authorities state power subjects of the Federation is carried out on the basis of federal laws and laws of the subjects of the Federation.
The Law on the Financial Fundamentals of Local Self-Government establishes that interbudgetary relations are built on the basis of the following principles:
Mutual responsibility;
Application of a methodology unified for all municipalities that takes into account their individual characteristics;
Equalization of income of municipalities;
The maximum possible reduction of counter financial flows;
Compensation to local budgets in the event of a decrease in income or an increase in expenses arising as a result of decisions taken by government bodies;
Increasing the interest of local governments in increasing their own revenues of local budgets;
Transparency of interbudgetary relations.
One of the sources of financing programs and projects for the development of a municipal formation, the local budget deficit may be municipal loans, carried out by issuing municipal securities on behalf of the municipality.
A loan is temporary income because it must be repaid. The issue of municipal and state securities that may belong to municipalities is carried out in accordance with federal laws“On the securities market” (1996) and “On the features of the issue and circulation of state and municipal securities” (1998).
In addition to local budget funds, state and municipal securities owned by local governments, local finance may include other financial resources. These include, for example, means of self-taxation - one-time voluntary target fees established directly by the population of the municipality to finance the solution of issues of local importance. The decision on this is made through a local referendum, at meetings (gatherings) of citizens or by a representative body of local government, taking into account the opinion of the population.
The collected self-tax funds are used exclusively for their intended purpose. Local authorities inform the population of the municipality about the use of self-taxation funds.
State authorities of the Russian Federation and its subjects, called upon, in accordance with Art. 4 and 5 of the Law on the General Principles of the Organization of Local Self-Government, to ensure guarantees of the financial independence of local self-government, implement state financial support for municipalities. For these purposes, the following means of budgetary regulation of local budgets are used: a) regulatory deductions from regulatory revenues; b) subsidies and subventions to local budgets; c) funds allocated from the fund for financial support of municipalities; d) funds received through mutual settlements from the federal budget and the budgets of the constituent entities of the Federation, etc. At the same time, the formation and use of local financial resources at the disposal of municipalities is carried out by them independently.
State authorities guarantee:
The right of local governments to independently carry out the budget process;
The right of local governments to independently determine the direction of spending local budget funds and other local finances;
The right of local governments to independently dispose of free balances of local budget funds formed at the end of the financial year as a result of an increase in revenue receipts or a decrease in expenses.
Local finances are primarily funds from the local budget. What is the structure of the local budget? What are its sources?
The local budget has revenue and expenditure parts.
Budget revenues - These are funds received free of charge and irrevocably in accordance with the legislation of the Russian Federation at the disposal of local governments.
Local budget revenues include: a) tax revenues;
b) non-tax revenues; c) gratuitous transfers.
TO tax revenue These include taxes and fees provided for by tax legislation, as well as fines and penalties that go to the local budget.
Tax revenues of local budgets constitute their own tax revenues. According to the Law on the Financial Fundamentals of Local Self-Government, local budgets’ own tax revenues include:
Local taxes and fees;
Shares of federal taxes and shares of taxes of constituent entities of the Federation assigned to local budgets for permanent basis;
Payments for the use of subsoil and natural resources established in accordance with the legislation of the Russian Federation;
State duty established in accordance with the legislation of the Russian Federation;
Fines subject to transfer to local budgets in accordance with federal laws and laws of the constituent entities of the Federation, and other tax revenues. Local taxes and fees, which relate to the own income of municipalities, are established by representative bodies of local self-government independently.
Before the entry into force of Art. 15 of the Tax Code of the Russian Federation, which determines the list of local taxes. The Law on the Fundamentals of the Tax System included the following as local taxes and fees:
a) property tax for individuals. The amount of tax payments is credited to the local budget at the location (registration) of the taxable object;
b) land tax. The procedure for transferring tax revenues to the relevant budget is determined by land legislation;
c) registration fee from individuals engaged in entrepreneurial activity. The amount of the collection is credited to the budget at the place of their registration;
d) fee for the right to trade;
f) collection from dog owners;
g) fees for cleaning the territories of populated areas, as well as other taxes and fees. In total, more than 20 local taxes and fees are established.
At the same time, the Law identified a group of local taxes and fees, the introduction of which does not require confirmation from local governments; they were subject to introduction throughout the Russian Federation (land tax, tax on the maintenance of housing stock and social and cultural facilities, etc.).
The Tax Code of the Russian Federation (Article 15) includes the following as local taxes and fees:
a) land tax;
b) tax on property of individuals;
d) inheritance or gift tax;
e) local licensing fees. Local taxes and fees are established and put into effect by regulatory legal acts of representative bodies of local government. Executive bodies of local self-government, in cases provided for by the legislation on taxes and fees, issue normative legal acts on issues related to taxation and fees, which cannot amend or supplement the legislation on taxes and fees. When establishing a local tax, the representative body of local self-government determines the following elements of taxation: tax benefits; tax rate within the limits established by the Tax Code; the procedure and timing of tax payment, and also determines the form of reporting for this local tax. At the same time, local taxes and fees not provided for by the Tax Code cannot be established.
Local taxes and fees in the federal cities of Moscow and St. Petersburg in accordance with Art. 12 of the Tax Code are established and put into effect by the laws of the specified subjects of the Federation.
The Federal Law of July 31, 1998 “On a single tax on imputed income for certain types of activities” provides that local taxes may not be collected (with the exception of registration fees, land tax) if the legislative (representative) body of state power of a constituent entity of the Russian Federation introduces single tax on imputed income for certain types of activities. In this case, part of this tax goes to local budgets.
The introduction of a regional sales tax by a constituent entity of the Federation also means that most local taxes (16 out of 23 local taxes and fees) are not collected. But at the same time, 60% of the sales tax goes to local budgets. These funds should be used to ensure social needs low-income groups of the population.
The amounts of shares of federal taxes and shares of taxes of constituent entities of the Federation assigned to local budgets on an ongoing basis are determined by the legislative (representative) bodies of the subject.
The procedure for assigning the size of shares (in percentage) of federal taxes to municipalities is established by the Law on the Financial Fundamentals of Local Self-Government. It defines the minimum shares of federal taxes that are assigned to municipalities on an ongoing basis. These incomes include:
a) part of the income tax from individuals within the limits of at least 50% on average for the constituent entity of the Federation;
b) part of the corporate income tax within the limits of at least 5% on average for the constituent entity of the Federation;
c) part of the value added tax on goods domestic production(with the exception of precious metals and precious stones issued from the State Fund of Precious Metals and Precious Stones of the Russian Federation) within the limits of at least 10% on average for the subject of the Federation;
d) part of the excise taxes on alcohol, vodka and liquor products within the limits of at least 5% on average for the subject of the Federation;
e) part of the excise taxes on other types of excisable goods (with the exception of excise taxes on mineral raw materials, gasoline, cars, imported excisable goods) within the limits of at least 10% on average for the subject of the Federation.
Payments for the use of subsoil and natural resources go to local budgets in the manner established by the legislation of the Russian Federation. Thus, the Federal Law “On Payment for Use water bodies” provides that the legislative (representative) bodies of the constituent entities of the Federation have the right to make decisions on crediting to local budgets the entire amount or part of it received in their budgets.
Own income of local budgets includes National tax. It is charged in accordance with the Federal Law “On State Duty” (as amended on December 31, 1995) for the performance of notarial acts by notaries of state notary offices and authorized officials of executive authorities and local governments (for state registration of acts of civil status and in other cases provided by law). The state duty is credited to the local budget revenue at the location of the bank (its branch) that accepted the payment.
Local budget revenues are credited in accordance with current legislation fines. Thus, according to the Law of the Russian Federation “On administrative liability of enterprises, institutions, organizations and associations for offenses in the field of construction” for offenses committed at enterprises of the construction industry and industry building materials municipal and non-state forms of ownership, as well as during the construction of objects financed from any sources, 80% of the fine amount is transferred to district and city budgets.
Tax revenues of local budgets also include deductions from federal and regional regulatory taxes and fees transferred to local budgets of the Russian Federation and its constituent entities in the manner established by tax and budget legislation. The standards for deductions (in percentage) from regulatory taxes to local budgets are established in accordance with the Law on the Financial Fundamentals of Local Self-Government for the upcoming financial year, as well as on a long-term basis (for at least three years).
TO non-tax income local budgets include:
Income from the use of municipally owned property;
Income from the sale or other alienation of property in municipal ownership;
Income from paid services services provided by local government bodies, as well as budgetary institutions under the jurisdiction of local government bodies;
Part of municipal profits unitary enterprises;
Income in the form of financial assistance (in the form of grants, subventions and subsidies) and budget loans received from higher budgets, and other income.
Many municipalities have “subsidized” budgets, i.e. receive subsidies.
Subsidies - These are funds provided to local budgets from the federal budget and budgets of constituent entities of the Russian Federation in the manner of budget regulation without any specific purpose. Subsidies are provided on a gratuitous and non-refundable basis to cover current expenses.
For the implementation of certain targeted expenses, local budgets may be provided by a budget of another level of our budget system Subventions. They are also provided on a gratuitous and irrevocable basis, however, unlike subsidies, subventions in accordance with the Law on the Financial Basis of Local Self-Government are allocated only for specific purposes and for certain period. If they are not used for their intended purpose within the established period, subventions (budgetary funds allocated to the municipality) are subject to return to the appropriate budget.
Local budgets can be provided from the budget of another level of the budget system subsidies. These budget funds are provided on the basis of shared financing of targeted expenses.
In order to equalize the financial situation of municipalities, government bodies of the constituent entities of the Federation provide financial assistance to municipalities from funds from the fund for financial support of municipalities. This fund is formed in the budget of the constituent entity of the Federation through deductions from federal and regional taxes received by the budget of the constituent entities of the Federation.
In accordance with the Law on the Financial Basis of Local Self-Government, the distribution of funds from the financial support fund for municipalities is carried out in accordance with a fixed formula that takes into account the population of the municipality, the share of preschool and school age in the total population of the municipality, the share of people of retirement age in the total population of the municipality, the area of the territory of the municipality, the level of per capita budgetary funds of the municipality, as well as other factors that determine the characteristics of a given subject of the Federation.
The share of each municipal entity in the total funds of the fund for financial support of municipal entities is established as a percentage and approved by the law of the subject of the Federation on the budget of the subject of the Federation. At the same time, transfers of funds to local budgets from the fund for financial support of municipalities are made monthly to all municipalities eligible for financial assistance.
Information on the actual volume of funds from financial support funds for municipalities is published in the media on a monthly basis.
In addition, local budget revenues may also include free transfers for mutual payments. Mutual settlements are understood as transactions involving the transfer of funds between budgets of different levels of the budget system of the Russian Federation, associated with changes in the tax and budget legislation of the Russian Federation, the transfer of powers to finance expenses or the transfer of income that occurred after the approval of the decision on the budget and were not taken into account by this decision (Art. 45 of the Budget Code of the Russian Federation).
The formation of local budget expenditures is based on uniform methodological principles, standards of minimum budgetary provision, state minimum social standards, social norms established by government bodies.
Expenditures of local budgets includes:
1) costs associated with resolving issues of local importance, established by the legislation of the Russian Federation and the legislation of its constituent entities;
2) expenses associated with the implementation of certain state powers transferred to local governments;
3) costs associated with servicing and repaying debt on municipal loans;
4) costs associated with servicing and repaying municipal debt on loans;
5) allocations for insurance of municipal employees, municipal property, as well as civil liability and business risk;
6) other expenses provided for by the charter of the municipality.
The procedure for executing the expenditure portion of the local budget is established by the charter of the municipality or other legal act local government authority.
In accordance with the Concept of reforming interbudgetary relations in the Russian Federation in 1999-2001, approved by the Decree of the Government of the Russian Federation of July 30, 1998, a list of expenses is established that are financed exclusively from the budgets of municipalities. The list of these expenses is contained in Art. 87 of the Budget Code of the Russian Federation.
Issues related to the resolution of local significance include the following types expenses:
Formation of municipal property and its management;
Organization, maintenance and development of educational, healthcare, cultural institutions, physical culture and sports, the media, and other institutions owned by municipalities or under the jurisdiction of local governments;
Organization, maintenance and development of municipal housing and communal services;
Municipal road construction and maintenance of local roads;
Improvement and landscaping of municipal territories;
Organization of disposal and processing of household waste (except for radioactive waste);
Organization of transport services for the population and institutions that are municipally owned or administered by local governments;
Ensuring fire safety;
Protection of the natural environment in the territories of municipalities.
The local budget also finances the costs of maintaining local government bodies and other expenses for local needs.
Financial resources necessary for the implementation by local governments of certain state powers, must be provided annually, respectively, in the federal budget and in the budgets of the constituent entities of the Federation.
In the expenditure side of local budgets (as well as in their revenue side) financing the resolution of issues of local importance and the exercise by local governments of certain federal powers and the powers of constituent entities RF provided separately.
Local government bodies may be vested with certain state powers in the field of land use (maintaining the land cadastre, etc.), in the field of civil registration, in the field of state architectural and construction control, in maintaining military records, etc.
The expenditure side of local budgets includes costs associated with servicing and repaying municipal debt.
Municipal debt - This is a collection of debt obligations of a municipality. They arise, firstly, from municipal loans carried out by issuing securities on behalf of the municipality (bonds, etc.).
A municipal loan agreement is concluded through the acquisition by a citizen or legal entity securities (bonds, etc.) issued by a local government body. Municipal securities are issued in accordance with the federal laws “On the Securities Market” and “On the Peculiarities of the Issue and Circulation of State and Municipal Securities” in order to implement programs and projects for the development of the municipal formation, approved in the manner established by the charter of the municipal formation. The issue of municipal securities is secured by municipal property and funds from local budgets.
Secondly, the debt obligations of a municipal entity may arise from agreements on the provision municipal guarantees. The latter are a way of ensuring civil obligations, by virtue of which the municipal entity - the guarantor gives a written obligation to be responsible for the fulfillment by the person to whom such a guarantee is given of obligations to third parties.
For example, the Law on the Peculiarities of the Issue and Circulation of State and Municipal Securities considers a municipal guarantee as a way of securing the civil obligations of third parties arising as a result of their loan through the issuance of securities, by virtue of which the municipality (guarantor) gives an obligation to be responsible for the fulfillment obligations of third parties (principals) in whole or in part to the owners of these securities (beneficiaries). In this case, it is required that the municipal guarantee must indicate: a) the guarantor (municipal entity), as well as the body that issued the guarantee on behalf of the guarantor; b) the amount for which the guarantee is issued.
Municipal guarantees are given for the period of fulfillment of obligations under securities third parties (art. 15).
Debt obligations of a municipality may exist in other forms.
The Law on the Financial Basis of Local Self-Government determined maximum permissible amount of debt obligations of local governments: it should not exceed 15% of the expenditure portion of the local budget (Article 16).
The state is not responsible for the obligations of the municipality, and the municipality, in turn, is not responsible for the obligations of the state.
The fulfillment of the obligations of the municipality is carried out at the expense of funds municipal treasury. According to Art. 215 of the Civil Code of the Russian Federation, the municipal treasury of the corresponding municipal formation consists of funds from the local budget and other municipal property not assigned to municipal enterprises and institutions.
Expenditures of local budgets depending on their economic content are divided into current and capital.
Capital expenditures, local budgets are designed to ensure innovation and investment activities, including costs for major (restoration) repairs and other costs associated with expanded reproduction, etc. As part of capital expenditures of the local budget, it can be formed development budget.
Current expenses of local budgets combine those items of budget expenditures that ensure the current functioning of local governments, budgetary institutions, as well as other budget expenditures not included in capital expenditures in accordance with the budget classification of the Russian Federation.
The expenditure side of local budgets provides for the creation reserve funds of local governments.
According to Art. 35 of the Law on general principles of organization of local self-government in local budgets may be provided as an integral part - cost estimates individual settlements and territories that are not municipalities (for example, cost estimates for urban and rural settlements located within the boundaries of a single district municipality).
Laws on the general principles of the organization of local self-government and on the financial foundations of local self-government establish guarantees for ensuring minimum local budgets.
Ensuring minimum local budgets is guaranteed by the state by securing revenue sources to cover minimum necessary expenditures of local budgets, which are understood as expenses determined on the basis of social norms and standards of minimum budgetary provision. Therefore, government bodies of the constituent entities of the Federation in the process of implementing budget regulation and local government bodies in the process of forming local budgets are guided by state minimum social standards, social norms and standards of minimum budgetary provision.
Social norms - indicators of the necessary provision of the population with the most important housing, communal, socio-cultural and other services in kind and monetary terms.
Minimum budgetary provision standard - calculated indicator of the minimum required budgetary funds requirement for one resident of a municipality for current expenses.
State minimum social standard - minimum level of guarantees established by the legislation of the Russian Federation social protection, ensuring the satisfaction of the most important human needs. It's about O public services, the provision of which to citizens is guaranteed by the state throughout the Russian Federation on a free and irrevocable basis. This is guaranteed through funding from budgets of all levels, including local budgets.
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