Chernobrovkina, E.B. Legal regulation of the cash execution of the budget.

Abstract: A dministration o f t he b udget i s a complicated multi-stage procedure. We currently may find that all of the information and activities are concentrated at the Federal Treasury. It fully reflects the nature of the current reform. The cash execution of the federal budget is one of the key spheres in the activities of the Federal Treasury, and it is being changed constantly due to development and introduction of the management elements for the liquidity of the single federal treasury account. The goal of this work is to provide for more efficient and higher quality budget funds management, which is aimed to guarantee the unconditional performance of the federal monetary obligations in time of their due payment. T he c hoice o f c ash e xecution o f t he budget has a number of positive features in the sphere of budget process organization. First of all, since the individual accounts are situated at the Federal Treasury bodies, and the recipients of funds interact directly with the treasury bodies, the needed period of time for the performance under the payment documents for budget obligations is shortened. Secondly, the periods of time for receipt of the information on the operations in the personal accounts of recipients of funds are also shortened, which allows for a more operative decision-making competence of financial (duly empowered) bodies in the sphere of financing certain budget spending while being free from the technical functions in the sphere of opening and management of accounts facilitates budget independency and improves efficiency of budget funds management. The option of cash execution of the budget with the personal accounts being opened by the key spending units, spending units and recipients of funds and due provision of information on budget obligations and financing limitations guarantee most efficient management on a condition that the system of electronic document flow is used to its maximum. One of the key functions of the Federal Treasury bodies is calculation of the incomes into the budget system and spread of these incomes among the various budget system levels.

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