Fedotova M.V. ROUTING FINANCIAL FLOWS AT THE EXECUTION OF THE MUNICIPALITY BUDGET

DOI: https://doi.org/10.15688/jvolsu3.2018.1.11

Mariya V. Fedotova

Postgraduate Student, Department of Economics and Finance, Volgograd Institute of Management – Branch of the Russian Presidential Academy of National Economy and Public Administration, Gagarina St., 8, 400131 Volgograd, Russian Federation, This email address is being protected from spambots. You need JavaScript enabled to view it. .

Abstract. Economic development of each administrative-territorial unit is an important factor in the economic development of the Russian Federation. In its turn, the effective execution of the budget at each level of the budget system is invariably topical, influencing the development of a system of both centralized and decentralized finance. The paramount characteristic of the organization of the budget execution of the municipality is an ability to ensure the timely and full execution of their commitments. There is a direct correlation of the budget process on both the revenue and expenditure sides. Cash gap in the local budget execution is actually quite common and, usually, inevitable, because revenues are coming unevenly during the financial year, budgetary expenditures are seasonal, and this threatens the execution of planned budgets; there is a need to raise funds. The article deals with the execution of the cash balance plan, cash flow at the single account of budget, debt and source of financing deficits. The analysis of financial flows in the execution of municipalities’ budget shows problems of execution of budget revenues and allows assessing the scale of emerging cash gaps. An outcome of the review consists in the recognition of an objective need to develop approaches to assessing the effectiveness of budget execution at all its stages and to implement the monitoring of the effectiveness of budget execution and timely effective measures for ensuring its high-quality.

Key words: budget, budget execution, budget revenues, budget expenditures, effectiveness of budget execution.

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