The concept of financial resources of the enterprise, their essence and composition. Finance and financial resources of the enterprise Physical and financial resources

General concept financial resources

Cash income accumulated by their owners for subsequent spending, as well as funds attracted as loans, constitute financial resources, which are divided into own and borrowed (credit). For budgets of all levels, financial resources are mobilized revenues and attracted loans. For businesses, this equity, income, loans received and securities placed on the market. For employees, the financial resource is income in the form of wages, as well as loans (for example, bank, consumer and pawnshop).

Own financial resources are at the complete disposal of their owner, and credit are attracted for a period of time and are subject to return along with interest payments for their use.

The sources of credit resources are temporarily free funds of enterprises, the population, and in some cases the state. The buying and selling of these resources is focused on the financial market. It consists of two parts: the loan capital market and the securities market. Its main function is to provide economic entities with additional funds at a certain percentage.

Principles of organization of finances of the enterprise. Cash flow in the enterprise

The predominant part of the financial resources of the general economic system of finance is formed at enterprises. Since up to 80% of the revenue base of the budget is formed from taxes, and payments from enterprises prevail in tax revenues, the finances of an enterprise form a nationwide financial system.

The following principles underlie the organization of enterprise finance:

1. independence in the field of financial and economic activity;
2. self-financing;
3. interest in the results of work;
4. responsibility for these results;
5. formation of financial reserves;
6. division of funds into own and borrowed;
7. priority fulfillment of obligations to the budget;
8. financial control over the activities of enterprises.

The cash flow cycle of an enterprise can be represented as follows:

Figure 1. The cash flow cycle of an enterprise

Cash flow in an enterprise is a continuous process. For each direction of use of funds, there must be an appropriate source. The assets of an enterprise are the net use of cash, while the liabilities and equity are net sources. For an operating enterprise, there is no starting and ending point for the movement of funds. The amount of cash fluctuates depending on the production schedule, sales volume, collection of receivables, capital investments and financing.

In the total cash flow of the enterprise, the following relations can be distinguished:

1. formation and use of targeted funds for on-farm purposes (authorized fund, production development fund, incentive funds, etc.);
2. arising from participation in other enterprises (making share contributions, participation in the distribution of profits from joint activities, etc.);
3. with employees of the enterprise;
4. with buyers of products;
5. with insurance companies;
6. with the banking system;
7. with the state;
8. with higher management structures.

Financial resources of the enterprise and their structure

Definition 1

Financial resources enterprises is its fixed and working capital.

Formation and replenishment of financial resources(fixed and working capital) is an important financial problem. The primary formation of these capitals occurs at the time of the establishment of the enterprise, when the authorized capital is formed.

Definition 2

Authorized (share) capital- the property of the enterprise, created at the expense of the contributions of the founders.

Definition 3

Financial resources- this is the money remaining at the disposal of the enterprise after the implementation of current costs to cover material costs and wages.

The main source of formation of financial resources is profit.

Sources of formation of financial resources of the enterprise: profit; proceeds from the sale of retired property; depreciation; growth of sustainable liabilities; loans; target receipts; share contributions. In addition, an enterprise can mobilize financial resources in various sectors of the financial market: sale of shares, bonds; dividends, interest; loans; income from other financial transactions; income from the payment of insurance premiums, etc. (Fig. 2).

Figure 2. Grouping the financial resources of the enterprise

Significant financial resources of the enterprise can be mobilized in the financial market.

Definition 4

The main direction of use of financial resources- investing in expanded reproduction.

The use of funds is carried out in the following areas:

1. Investing in capital investments to expand production;
2. Investing in securities;
3. Payments to the budget, banking system, contributions to off-budget funds;
4. Formation of monetary funds and reserves.

Enterprise finance management

The formation and use of financial resources is impossible without a financial management system for enterprises.

Definition 5

Financial management (financial management)- this is an activity aimed at achieving the strategic and tactical goals of the functioning of this enterprise.

Enterprise financial management includes:

• organization and management of relations of the enterprise in the financial sector with other enterprises, banks, insurance companies, budgets of all levels, as well as financial relations within the enterprise;
• formation of financial resources and their optimization;
• placement of capital and management of the process of its functioning;
• analysis and management of cash flows in the enterprise.

The main functions of a financial manager:

• financial planning, budgeting of the enterprise, pricing policy, sales forecasting;
• formation of the capital structure and calculation of its price;
• capital management (work with securities; control and regulation of monetary transactions; investment analysis; management of fixed and working capital);
• analysis of financial risks;
• protection of property;
• evaluation and consultation.

Financial resources, Financial planning, Enterprise budget, Enterprise balance sheet, Assets, Liabilities, Cash receipts and payments plan, Cash plan.

Enterprise financial resources- these are the funds at the disposal of the enterprise and intended for the implementation of current costs associated with simple reproduction, costs that ensure expanded reproduction, accumulation, as well as costs associated with the maintenance and development of the non-productive sphere, material incentives for employees, and the creation of reserve funds.

Thus, financial resources serve as the basis for the formation of funds necessary for the normal production and economic activities of an enterprise: authorized capital, reserve fund, accumulation and consumption funds, wage fund, depreciation fund, repair fund, commercial risk fund, etc.

Financial resources perform the following main functions(Fig. 22):

Ensuring current costs for the production and sale of products (works, services),

Implementation of capital investments related to the expansion of production, its technical renovation, reconstruction, technical re-equipment, acquisition of intangible assets,

Ensuring payments to financial institutions, including banks, contributions to off-budget funds,

Formation of cash funds for the purposes of consumption and accumulation,

Ensuring charitable and sponsorship activities.

Figure - 22 Functions of financial resources of organizations (enterprises)

The initial formation of the financial resources of the enterprise occurs at the time of its establishment, when the statutory fund is formed. Their sources (depending on the organizational and legal form of the enterprise) are:

share capital,

Share contributions of members of cooperatives,

long term loan,

Budget resources.

In the subsequent current activities of the enterprise, the sources of financial resources of the enterprise are:

Proceeds from the sale of products (works, services), part of which reimburses the costs that ensure simple reproduction and are included in the cost of products (works, services), and the other part (profit) ensures accumulation and, consequently, expanded reproduction, as well as consumption;

Proceeds from the sale of retired property;

Revenue from non-operating transactions,

Proceeds from the sale of own securities;

Dividends and interest on securities of other enterprises owned by this enterprise;

Bank loans;

Insurance indemnities;

Receipts from the funds of associations, concerns and other types of associations in which this enterprise participates;

Budget subsidies, etc.

Sources of financial resources at the place of their formation can be conditionally divided into three groups:

1. Formed at the expense of own and equivalent funds, including:

Share and other contributions of the founders,

Revenue from core business,

Proceeds from the sale of retired property,

Proceeds from non-operating transactions, including income from the revaluation of inventories and finished products, proceeds from the lease of the enterprise's property, fines, penalties, fines awarded or recognized by the debtor, income from losses, etc.,

Sustainable liabilities, including short-term debt, constantly used in the economic turnover of the enterprise, including wage arrears to employees of the enterprise, a reserve for future payments formed to pay for vacations and other continuously formed and replacing each other temporary savings.

2. Mobilized in the financial market, including:

Arising from the sale of own securities,

Generated from the receipt of dividends and interest on securities of other issuers,

Credits.

3. Arriving in order of redistribution, including:

Insurance indemnities; financial resources coming from the funds of associations, concerns,

Budget subsidies, including direct subsidies (government capital investments in facilities that are especially important for the national economy, or in unprofitable, but vital) and indirect subsidies (implemented by means of tax and monetary policy, for example, by providing tax incentives and preferential loans), etc.

According to the form of ownership, it is customary to allocate own, borrowed and attracted financial resources.

Own financial resources include:

statutory fund,

Sinking fund,

Salary fund,

Other financial resources formed at the expense of the cost of products (works, services) of the enterprise,

The profit of the enterprise, which remains at its disposal after paying taxes and mandatory payments, and, accordingly, the reserve fund and special-purpose funds (accumulation and consumption funds) formed at the expense of profit,

Sustainable liabilities equal to own financial resources.

Borrowed financial resources include:

Short-term and long-term bank loans,

Short-term and long-term loans in investment funds, financial, leasing companies and other non-banking credit organizations, etc.

Attracted financial resources include funds of other organizations and enterprises temporarily in the turnover of the enterprise in connection with the existing settlement system. Such resources include accounts payable to suppliers, debts to financial authorities for payments, extra-budgetary payments, etc.

Financial resources are used next directions:

- production, including on current expenses related to the production and sale of products (works, services), including mandatory payments due to contractual relations with counterparties (for supplied raw materials, energy, etc.), enterprise personnel, higher organizations, budgets and extra-budgetary funds, banks and other credit institutions; capital investment(investment of financial resources in long-term capital investments related to the expansion of production: new construction, purchase of additional equipment, reconstruction, technical re-equipment, etc.);

- non-productive activity, including the formation and use of consumption funds, including the investment of social programs of the enterprise, the implementation of charitable, sponsorship activities, material assistance to employees of the enterprise, etc.;

- formation of reserve funds;

- placement of temporarily free financial resources in the financial market, including investment of financial resources in securities, placement on bank deposits.

The most important function of the economic management of the financial resources of an enterprise is financial planning.

financial planning- this is an activity related to the definition of goals and the development of measures for the formation and use of financial resources, which provide a relationship between income and expenses based on the relationship of performance indicators of the enterprise with sources of financing.

aim financial planning is to provide the reproduction process with appropriate financial resources in terms of volume and structure.

Financial planning involves:

Definition of planning goals,

Modeling the main parameters of the enterprise, the relationship between them and determining the conditions and terms for their achievement,

Training management decisions and activities to achieve them

Setting tasks for performers and ways to solve them.

The order of financial planning is presented on fig. 24.

The current financial plan of the enterprise is compiled for the coming year, broken down by months and serves as the basis for financial control activities.

The financial plan is developed on the basis of:

Plan of production and sales of products;

calendar plan payments to the budget and off-budget funds;

Figure 24 - The procedure for financial planning at the enterprise

Contracts concluded by the enterprise (rent, insurance, lending, economic supply contracts, employment contracts, etc.);

Entry into force court decisions and tax authorities, public authorities listed in Art. 9 of the Tax Code Russian Federation"("Participants of relations regulated by the legislation on taxes and fees");

Balances of the main types of resources;

Orders of the heads of the enterprise related to the reimbursement of costs, bonuses, compensation for damage.

The financial plan of the enterprise consists of the following sections: "Enterprise budget" (plan of income and expenses), "Balance of the enterprise", "Cash receipts and payments".

Sales volumes and total (gross) profit;

The ratio of income and expenses;

Use of own and borrowed funds (their sources and maturities of debts);

The total amount of investments and the payback period of investments;

Costs of production and circulation;

Timing and amount of dividend payment.

Enterprise budget consists of two parts: revenue and expenditure (Fig. 25).

V revenue side all types of planned cash receipts are made:

From the main activity;

Cash from non-core activities (sale of fixed assets, securities, proceeds from equity participation in joint activities, etc.);

Depreciation Fund;

Figure 25 - The structure of the enterprise budget

Credit receipts;

Borrowed funds, loans;

Receipts from the state budget (within the framework of the state order, state support);

Other supply.

V expenditure part all types of planned costs are entered for:

production activities;

supporting activity;

Capital investments (investments) in development;

Payments on credits, loans, loans;

Dividend payments;

Mandatory payments to the state budget;

Payments to off-budget funds;

tax payments;

Payments for fines, penalties and other sanctions;

Contributions to special funds (reserve, production and technical development, social development, share, etc.).

The budget is called “with a surplus” if the total cash receipts exceed the amount of expenditures, “with a deficit” if the revenue side is less than the expenditure side (while there is a shortage of cash receipts), “balanced” if incomes and expenditures are equal.

When forming the budget, the head of the enterprise receives a generalized idea of ​​\u200b\u200bforthcoming income and expenses and can adjust certain items and make certain decisions before the budget is approved.

Enterprise balance is a summary two-sided table characterizing the composition, placement, sources of education and the purpose of all the funds available to the enterprise (Table 39). The balance is drawn up on a certain date in value terms.

One side of the table (left side) presents the economic resources that the company owns and from which it expects to benefit in the future, using them in its business activities, called assets. Assets reflect the value of the property of the enterprise on a certain date, its composition and location. Assets also characterize the requirements and investments of the enterprise.

The structure of assets includes two sections: current and non-current assets.

TO current assets include assets that are used (expended) in the course of daily business activities:

Stocks of materials, raw materials, fuel, purchased semi-finished products,

Availability of finished products in warehouses,

Cash (in cash and on the current account),

Accounts receivable (amounts owed to the enterprise from buyers or other debtors in the event that a service or product is sold and cash is not received),

Short-term financial investments (for example, investments for a period not exceeding one year in securities of other enterprises), etc.

TO non-current assets include assets withdrawn from economic circulation, including:

Fixed assets (fixed assets of the enterprise in value terms),

Intangible assets,

Table 39

Enterprise balance

Assets	Indicator code	At the beginning of the reporting year	At the end of the reporting period
V. NON-CURRENT ASSETS Intangible assets
fixed assets
Construction in progress
Profitable investments in material values
Long-term financial investments
Deferred tax assets
Other noncurrent assets
Total for Section I
II. CURRENT ASSETS Inventories
including: raw materials, materials and other similar values
animals for growing and fattening
work in progress costs
finished products and goods for resale
goods shipped
future spending
other inventories and expenses
Value added tax on acquired valuables
Accounts receivable (for which payments are expected more than 12 months after the reporting date)
Accounts receivable (for which payments are expected within 12 months after the reporting date)
including buyers and customers
Short-term financial investments
Cash
Other current assets
Total for Section II
BALANCE

The end of the table. 39

Reserve capital
including: reserves formed in accordance with the law
reserves formed in accordance with founding documents
Retained earnings (uncovered loss)
Total for Section III
IV. LONG-TERM LIABILITIES Loans and credits
Deferred tax liabilities
Other long-term liabilities
Total for section IV
V. CURRENT LIABILITIES Loans and credits
Accounts payable
including: suppliers and contractors
debt to the staff of the organization
debt to state off-budget funds
debt on taxes and fees
other creditors
Debt to the participants (founders) for the payment of income
revenue of the future periods
Reserves for future expenses
Other current liabilities
Section V total
BALANCE
INFORMATION on the availability of valuables recorded on off-balance accounts
Leased fixed assets
including leasing
Inventory assets accepted for safekeeping
Goods accepted for commission
Written-off debt insolvency of debtors
Collateral for obligations and payments received
Security for obligations and payments issued
Depreciation of the housing stock
Depreciation of objects of external improvement and other similar objects
Intangible assets received for use

Construction in progress (expenses of the enterprise for capital construction and installation of equipment). These are not executed by acts of acceptance and transfer of fixed assets and other documents (including documents confirming state registration properties in established by law cases) costs for construction and installation works, purchase of buildings, equipment, vehicles, tools, inventory, other durable material objects, other capital works and costs (design and survey, exploration and drilling works, costs for land acquisition and resettlement in connection with construction, for training personnel for newly built organizations, etc.),

Profitable investments in material values, that is, investments of the organization in a part of property, buildings, premises, equipment and other values ​​that have a material form, provided by the organization for a fee for temporary use (temporary possession and use) in order to generate income,

Long-term financial investments, which may include investments in state and municipal securities, securities of other organizations, including debt securities, in which the date and cost of redemption is determined (bonds, bills of exchange); contributions to the authorized (share) capital of other organizations (including subsidiaries and affiliates); loans granted to other organizations; deposits in credit institutions; receivables acquired on the basis of assignment of the right to claim, etc.

On the other side of the table (its right side) are indicated liabilities, that is, liabilities and capital, which are the sources of formation of funds at the expense of which the property of the enterprise is formed.

These sources are grouped by composition, affiliation and purpose. The principle of formation of the liability of the balance sheet involves the inclusion in it of such elements as: capital and reserves of the enterprise, long-term liabilities (long-term liabilities) and short-term liabilities (short-term liabilities).

The capital and reserves of the enterprise include the enterprise's own funds, including:

Authorized capital,

Additional capital (formed through the sale of securities on the stock market, that is, through share premium), gratuitous receipt of property, revaluation amounts of fixed assets received as a result of their revaluation, etc.),

Reserve capital (formed at the expense of annual deductions from profits and intended for the social development of the enterprise, covering losses, paying dividends and replenishing capital in case of insufficient profit),

retained earnings ( net profit enterprise, not distributed among shareholders, but directed to reserves and other needs of the enterprise development).

Long-term liabilities (long-term liabilities) are represented by long-term bank loans and other loans.

Short-term liabilities (short-term liabilities) include:

Short-term bank loans and other short-term loans,

Accounts payable, that is, funds temporarily attracted by the enterprise and subject to return to individuals and (or) legal entities. Including debts to suppliers for shipped goods, unpaid taxes, unpaid accrued wages, unpaid insurance premiums, unpaid debts,

dividend payments,

Deferred income (income received in the current period, but attributable according to the financial statements to future periods, including receipts from shortages identified in previous periods and reimbursed by collecting from guilty parties, income generated due to the occurrence of exchange rate differences arising from due to changes in the official exchange rate, etc.),

Reserves for future expenses and payments (amounts of forthcoming vacation pay, remuneration for long service, forthcoming production costs for preparatory work at enterprises of seasonal industries, forthcoming costs for the repair of fixed production assets, costs for the construction of temporary buildings and structures).

The balance involves the establishment of equality of the value of assets and liabilities of the enterprise.

The balance sheet is a plan - a guideline for the coming period and at the same time a reporting document on the actual performance results.

For intra-company use, a detailed balance sheet is drawn up, for external use (for investors, the public) - in a compacted and simplified form in order to form an idea of ​​​​the financial position and financial capabilities of the enterprise.

The budget and balance of the enterprise characterizes the static state of the financial resources of the enterprise.

Their dynamic state is characterized in such a section of the financial plan of the enterprise as " Cash receipts and payments”, which reflects the movement of cash flows.

Cash flow is the difference between cash receipts and payments.

In the course of cash flow planning, specific amounts, sources and time of receipt of funds to settlement accounts and to the cash desk of the enterprise are established, taking into account the possible time shift between real sale products (works, services) and the actual receipt of funds, as well as the amount, direction and time of the expenditure of funds (table 40).

In terms of cash receipts and payments, all receipts and payments of the enterprise, both in cash and in non-cash form, are covered. The first section of the plan is the revenue part, the second is the expenditure part, reflecting all upcoming calculations and transfers of funds.

Table 40

Cash receipts and payments plan

Articles	Decades
Income
1. Revenue from the sale of products, works, services
2. Proceeds from the sale of surplus fixed assets, materials and other property (assets)
3. Receipt of overdue receivables
4. Receipt of a bank loan
5. The balance of funds in cash and on the current account
6. Miscellaneous receipts
Total receipts
Payments (expenses)
1. Urgent needs, including: - tax debts, - unpaid fines, penalties, forfeits and other sanctions, - overdue payments to the budget and extra-budgetary funds, - overdue wages, etc.
2. Salary and equivalent payments
3. Taxes
4. Payment of invoices to suppliers
5. Repayment of loans to banks
6. Paying interest on a loan
7. Other expenses
Total expenses
Excess of receipts over payments (expenses)
Excess of payments (expenses) over income

When drawing up the plan, data on accounting for transactions on the bank account, information on urgent and overdue payments to suppliers are used, the schedule for the shipment of products is taken into account, financial results sales of products, planned contributions to the budget of income tax, property tax and other taxes, deductions to off-budget funds, the state of settlements with debtors and creditors.

The ratio of both parts of the plan should be such that there is an excess (or at least equality) of income over payments. This ensures greater financial stability of the enterprise, its solvency in the coming period of time.

Planning the circulation of cash through the cash desk of the enterprise, which ensures the timely receipt of cash in the bank and control over their receipt and use, is carried out in the course of drawing up the cash plan.

cash plan is part of operational financial planning and is compiled for the quarter. Enterprises are required to hand over to the bank all cash in excess of the limits set by the bank.

Cash plan is required:

The enterprise in order to accurately represent the amount of obligations to the employees of the enterprise and other payments made through the cash desk of the enterprise;

To the bank serving the enterprise, in order to draw up a consolidated cash plan for servicing its customers on time.

The cash plan consists of the following sections:

- “sources of cash receipts”, which reflects the receipt of cash in the cash desk of the enterprise, except for money received from the bank;

- "calculation of payments of wages and other types of remuneration", which is a wage fund calculated for the quarter, minus the amount of deductions, taxes and transfers accrued;

- "expenses" of the enterprise in the form of cash for wages, travel and business expenses, payment of social insurance benefits, etc.;

- "Calendar for the issuance of wages to workers and employees according to the established terms", which indicates the established dates (specific dates of each month) and the amounts of payments in cash. These amounts, in accordance with the contract of settlement and cash services, the bank issues to the enterprise for the fee established in the contract.

Thus, the financial plan of the enterprise reflects a wide range of financial relations of the enterprise with the state, financial and credit organizations, other enterprises and organizations, individuals, including company employees. The financial stability of the enterprise, the timeliness of fulfilling the obligations of the enterprise largely depends on the economic feasibility of the financial plan and its implementation.

Questions for self-examination on topic 10:

1. Define the content of the concept of "financial resources" of the enterprise.

2. What functions do the financial resources of the enterprise perform?

3. Describe the sources of the initial formation of the financial resources of the enterprise; sources of formation of financial resources in subsequent current activities.

4. Describe the sources of formation of the financial resources of the enterprise from the standpoint of the place of their formation and forms of ownership.

5. Name directions of use of financial resources of the enterprise.

6. What is the procedure for financial planning?

7. What is the basis for the development of the financial plan of the enterprise, and what is the structure of its sections?

8. What is the principle of construction and structure of the enterprise budget?

9. What is meant by the surplus and deficit of the enterprise budget?

10. What is the balance of the enterprise, and what is the basic principle of its construction?

11. What is meant by current and non-current assets?

12. What is the composition of the balance sheet liabilities?

13. What is the difference between the characteristics of financial resources in the budget, balance sheet and plan of cash receipts and payments?

14. What should be the ratio of parts of the "income" "payment" of the plan of cash receipts and payments in order to ensure the financial stability and solvency of the enterprise in the coming period of time?

15. What tasks are solved during the formation of the cash plan of the enterprise?

Introduction 3

5

5

1.2. Classification of financial resources 10

1.3. Principles of functioning of the financial resources of the state 12

2. Analysis of the state financial resources of the Russian Federation 15

2.1. Sources of formation of state financial resources of the Russian Federation 15

2.2. Directions for the use of state financial resources of the Russian Federation 22

25

25

31

Conclusion 39

42

Introduction

Finance and financial resources are not identical concepts. Financial resources do not determine the essence of finance, do not reveal their internal content and social purpose. Financial science does not study resources, but public relations arising on the basis of education, distribution and application of resources.

The relevance of the topic lies in the fact that financial resources are the most necessary source of expanded production, social economic growth society. Increasing the volume of financial resources is one of the most important tasks of the state's financial policy. A decrease in the size of financial resources has a negative impact on the development of society, leads to a decrease in investment, a decrease in consumption funds, and creates an imbalance in the distribution of the social product and national income. Financial resources act as material carriers of financial relations. Therefore, the study of their structure and problems of formation comes first in the process of studying the finances of the state.

The influence of financial resources on economic growth is not unilateral, in turn, the composition and volume of financial resources depend on the indicator of the state's economic growth, on the effectiveness of production.

The object of the work is the financial resources of the state.

The subject of the work is the problems and prospects of the financial resources of the Russian Federation.

The purpose of the course work is to study the problems and prospects of the financial resources of the Russian Federation.

In connection with the goal, it is necessary to perform the following tasks:

Expand the definition of the concept of financial resources of the state;

Consider the composition of financial resources and methods of their mobilization;

Analyze the sources of formation of financial resources and directions of their use.

The first chapter is devoted to the theoretical foundations of financial resources. Their essence, classification and content, principles of their functioning are considered. The balance of financial resources is considered.

The second chapter is devoted to the structure of financial resources. The structure of financial resources, sources of their formation are considered. The function of the state budget in the creation and distribution of financial resources has been studied.

The third chapter deals with the problems and prospects for the growth of financial resources. The main factors of growth of financial resources for present stage.

When writing the work, the works of the authors Burkhanov I. V. Zharkovskaya, E.P. Gryaznova, E.V. Myslyaeva, I.N. Sviridov, O.Yu., Tax Code of the Russian Federation, Budget Code of the Russian Federation, press publications, Internet data.

1. Theoretical aspects of financial resources

1.1. The concept and essence of financial resources

Financial resources are created in the process of economic and financial activity as a result of the creation and distribution of the gross social product of the state, accumulated by the state and business entities and act as one of the main factors of production, called money capital.

Financial resources are classified into centralized funds (state budget, off-budget funds) and decentralized financial resources (cash funds of organizations) (Fig. 1.1).

Allocate in addition the financial resources of the state, regions, organizations. The main source of creation of centralized financial resources at the general level is the national income. The financial resources of the state are a complex of all monetary resources managed by the state, its organizations, organizations, institutions as enterprises to cover their costs.

Based on the distribution and distribution of national income, centralized funds of monetary resources are created.

A part of the national income is created and remains under the control of organizations, more precisely, decentralized resources are created at the macro level, which are used for production costs in the organization.

Another necessary source of creation of financial resources are depreciation charges, which are formed due to part of the cost of the main production assets.

Centralized financial resources are the result of the distribution of net income through tax and non-tax payments and deductions.

Rice. 1.1 - Characteristics of financial resources

In addition, centralized financial resources are created thanks to a part of the national wealth involved in the economic turnover from the sale of the state's gold reserves, the sale of energy resources, proceeds from foreign economic activity, and in addition, thanks to the resources received from the sale of government securities. Finance is a tool that ensures the formation, distribution and use of funds of business entities in the process of production, distribution and use of the gross domestic product. This sphere of the economic structure of society, through financial transactions, serves the production, sale and consumption of goods and services. Finance is based on money and its movement. Finance organizes cash flows and provides for the needs of enterprises, the state, households and other entities in the formation and spending of cash funds. In this regard, finance reflects the relationship of all legal business entities and households associated with the formation and movement of cash funds.

Public finances are integral part common financial system. As is known, the economies of countries, in accordance with the system of national accounts, are divided into five sectors: non-financial corporate and quasi-corporate enterprises; financial institutions; government bodies; private non-profit institutions serving households (population); households. To these sectors is added the sector of the rest of the world. Each of these sectors includes corresponding institutional units. The totality of the finances of the institutional units of each sector, in their interaction with each other and with other sectors, forms the finances of the sectors of the economy and the financial system of the country as a whole, and the total amount of financial resources of the institutional units and economic sectors characterizes the amount of the country's financial resources. The set of finance institutional units of the public sector forms the system of public finance.

The motives of the financial activities of the state differ from the motives of the activities of other subjects of economic life. The main motive for household activity is to receive profit and income in the form of wages, interest, dividends, etc. In the field of entrepreneurial activity, the determining factor in decision-making is obtaining financial benefits, which has an impact on the formation of the material structure of reproduction. The main motive for the financial activity of the state is the formation and expenditure of funds for the implementation of its functions.

Public finances are a tool for mobilizing funds from all sectors of the economy for the implementation of state domestic and foreign policy. They represent a single set of financial operations of government bodies, with the help of which funds are accumulated and cash expenditures are made.

The main financial fund of the country, which ensures the formation, distribution and use of centralized funds of funds as a prerequisite for the functioning of any state, is the state budget. Along with state budgets, off-budget funds play a significant role. Together they make up the country's public finances.

The financial resources of the general government sector are formed mainly from taxes and contributions paid by enterprises, organizations and households.

The need for public finance is generated by the very fact of the existence of the state and the need for monetary support for the functions it performs. In the most general form, the main function of government bodies is to conduct state policy and fulfill state tasks through the provision of non-market goods and services for their consumption by the population and society as a whole, as well as through the redistribution of income (transfers) and wealth.

Funds mobilized through public finance are used for public spending that cannot be met by private enterprise. These include, in particular, public administration, public safety of citizens, social programs, ecology, and defense. The accumulation of funds in the budget allows the state to implement social programs aimed at developing a person, culture, healthcare, education, supporting low-income families, and solving the housing problem. By collecting and distributing monetary resources, the state gets the opportunity to correct the operation of the self-regulating market mechanism, influence the functioning of the markets for goods and services, financial markets and the distribution of income in sectors of the economy. With their help, intersectoral, intersectoral and interterritorial redistribution of GDP, state regulation and economic stimulation are carried out, taking into account the long-term interests of the country. The redistribution of resources between sectors of the economy, industries, social groups and territories is a lever for the restructuring of the economy, the implementation of spruce and scientific and technical programs.

The state performs its functions not in order to obtain commercial benefits or profits, but to ensure collective consumption. In this regard, public finances reflect the relationship between the state, on the one hand, and legal entities and households, on the other, regarding mandatory payments to the state's monetary funds and the use of these funds in the interests of taxpayers.

The main source of financial resources is the national income, the profits of organizations regardless of ownership, depreciation fund, insurance funds. The use of financial resources is carried out mainly through special-purpose funds, although a non-fund form of their use is also possible.

Financial funds are an integral part of the entire system of tender funds that operate in the national economy. Background The new form of using financial resources has some advantages: it ensures the concentration of resources in the main areas of growth of the national economy, makes it possible to more fully link public and private interests and more actively influence production.

1.2. Qualification of financial resources

Acting as material carriers of financial relations, financial resources have a significant impact on all stages production process thus adapting the factors of production to the needs of society. The result of their creation and application affects the rate of economic growth in the country. The profit on this type of resources and the movement of financial flows underlie the grouping and regrouping of factors of production, the creation of organizations, the growth of industries, and the performance of the national economy.

The principal assumptions that should be taken into account in the process of determining financial resources are the following:

1) financial resources, as a definition, belong to the basic category "finance", including the field of enterprise finance;

2) the nature of the essence of the basic concepts implies the attribution of the concept to distribution, cost processes;

3) the resource is considered from the standpoint of the potential for use and intended purpose.

The final, decisive category is finance - relations regarding the distribution of the created value. They are a tool for distributing the gross national product (GNP) and a tool for creating and using the financial resources of business entities and the state formed with their participation.

The financial resources of the state include budgetary resources, resources of state off-budget funds and off-budget funds of local self-government, and in addition, the resources of state financial institutions: the National Bank, government agencies insurance, state credit institutions.

The main areas of application of the financial resources of the state are:

Costs for the growth of the business sector, its structural transformation;

Financing of social institutions;

Social protection of society;

Foreign economic activity;

Security environment;

Control;

State defense;

Creation of material and financial reserves;

Other directions.

Organizations use financial resources to:

Expanded reproduction and growth of the organization;

Solving social problems of the team;

Financial incentives;

Creation of financial reserves;

Other directions.

The main source of centralized and decentralized financial resources in their primary calculation is the net income of entrepreneurs, regardless of the form of ownership, thanks to which financial resources are created, both by enterprises and the state.

1.3. Principles of functioning of the financial resources of the state

Balance of all incomes and expenses of the Russian Federation, subjects of the Russian Federation and municipalities, including income and expenses that are located in the respective territory of entrepreneurs and extra-budgetary funds. Cash income and expenses of the company are not included in the balance of financial resources. Distinguish the balance of financial resources: the Russian Federation; subject of the Russian Federation; local government. The balance of financial resources of the Russian Federation is a complex of revenues and expenditures of the state budget, state off-budget funds and the balance of financial resources of the regions.

The balance of financial resources of a constituent entity of the Russian Federation is the sum of the balance of income and expenditures of the budget of a constituent entity of the Russian Federation and the balance of financial resources of municipalities. The balance of financial resources of local self-government is the balance of revenues and expenditures of the budget of local self-government, and in addition to entrepreneurs in a given territory.

The development of a balance of financial resources is one of the components of the forecast for the socio-economic growth of the Russian Federation, a constituent entity of the Russian Federation, and local self-government. The balance acts as a tool that makes it possible to determine the need for the adoption of certain proposals and decisions at the level of macroeconomic growth forecast.

In the process of compiling the balance of financial resources, the following are used: reporting information of the State Committee of the Russian Federation on Statistics, the Ministry of the Russian Federation on Taxes and Duties, budget statistics data, the reporting balance of financial resources for the previous year. The specificity of territorial balances is the presence in the balance structure of a region or local self-government of resources received from the state budget or the budget of a subject of the Federation.

The revenue part includes the balance of mutual settlements - the difference between the resources received by the subjects of the Federation or local self-government from the federal or regional budget, and the resources transferred in accordance with the current budgetary and tax legislation to the federal or regional level, including mutual settlements with non-budgetary funds.

The income forecast of the balance of financial resources contains data on the socio-economic growth of the relevant territory for the last reporting period, expected data before the end of the base year, data for the next period, including the expected assessment of the result of entrepreneurs' activities, tax and non-tax revenues, other budget revenues, extra-budgetary funds.

The forecast of expenses of the balance of financial resources is carried out on the basis of the forecast of similar income balance items, taking into account the need to reduce the deficit of a certain budget and a possible reduction in government spending. Whenever possible, expenditures in the territories of the constituent entities of the Russian Federation are taken into account in the process of estimating expenses thanks to the resources of the state budget. This is associated with certain difficulties, because part of the resources of the state budget is distributed among the regions by federal ministries and departments and goes to the recipients of the resources, passing through the budgets of the subjects of the Federation. In connection with these costs, they are assumed taking into account the expert assessment of such resources.

The deficit of the balance of financial resources cannot be equal to the deficit of a certain budget, because the balance takes into account all the revenues that are received in the corresponding territory, and all expenditures in the given territory. The balance deficit reflects the deficit of all financial resources in the complex, and not just budgetary ones. At the same time, when forecasting the balance deficit, they rely on provisions that limit the budget deficit, take into account the directions of the state budget policy to save public spending and achieve a deficit-free budget.

Therefore, in the process of preparing the balance of financial resources, measures are being developed to reduce costs and possibly reduce costs. Sources of repayment of the balance deficit can be attracted resources, both internal and external: loans from credit institutions, government loans, budget loans, etc.

2. Analysis of the state financial resources of the Russian Federation

2.1. Sources of formation of state financial resources of the Russian Federation

The volume and structure of financial resources are directly related to the level of production growth: the larger the scale of production and the higher its result, the greater the volume of mobilized and applied financial resources. The financial resources of the Russian Federation include the following links in financial relations:

the state budget system;

extrabudgetary special funds;

State loan;

These three blocks of financial relations belong to centralized finance and are used to regulate the economy and social relations at the macro level. The financial relations of enterprises belong to decentralized finance and are used to regulate and stimulate the economy and social relations at the micro level.

The financial relations that develop between the state and enterprises, organizations, institutions and the population are called budgetary. The specificity of these relations as part of financial ones is that, firstly, they arise in the distribution process, in which the state is an indispensable participant (represented by the relevant authorities), and, secondly, they are associated with the formation and use of a centralized fund of funds. , designed to meet national needs .

Budgetary relations are characterized by great diversity, since they cover different directions distribution process (between sectors of the economy, spheres of public activity, branches of the national economy, territories of the country) and cover all levels of management (federal, republican, local).

In the process of functioning, budgetary relations receive their corresponding material and material embodiment; they are materialized (embodied) in the country's budgetary fund, which has a complex organizational structure. The specific value of the budget fund, which reflects the degree of centralization of financial resources in the hands of the state, depends on a number of factors: the level of economic development; management methods at enterprises, organizations, institutions; economic and social tasks solved by society, etc.

The totality of budgetary relations in the formation and use of the country's budgetary fund constitutes the concept of the state budget. By economic essence the state budget is the monetary relations that arise between the state and legal entities and individuals regarding the redistribution of national income (partially - and national wealth) in connection with the formation and use of the budget fund intended to finance the national economy, socio-cultural events, defense needs and government controlled. Thanks to the budget, the state is able to concentrate financial resources on decisive areas of economic and social development.

Being an economic form of the existence of real, objectively determined distribution relations, fulfilling a specific public purpose - to meet the needs of society and its state-territorial structures, the budget can be considered as an independent economic category. This category, being part of finance, is characterized by the same features that are inherent in finance in general; but at the same time it has features that distinguish it from other areas and links of financial relations. Features include the following:

The state budget is a special economic form of redistributive relations associated with the separation of a part of the national income in the hands of the state and its use in order to meet the needs of the whole society and its individual state-territorial formations;

With the help of the budget, there is a redistribution of national income, less often - national wealth between sectors of the national economy, territories of the country, spheres of public activity;

The proportions of the budgetary redistribution of value, to a greater extent than in other parts of finance, are determined by the needs of expanded reproduction as a whole and by the tasks facing society at each historical stage of its development;

The area of ​​budget distribution occupies a central place in the composition of public finances, which is due to key position budget compared to other links.

The view of the budget as an economic category was not immediately recognized. Only in recent years has the prevailing point of view become, according to which the state budget, from the standpoint of economic essence, can be considered as an independent economic category, and from the standpoint of the legislative establishment of the financial base of the state, as its financial plan.

The essence of the state budget as an economic category is realized through distributive (redistributive) and control functions. Thanks to the first, there is a concentration of funds in the hands of the state and their use in order to meet national needs; the second allows you to find out how timely and fully the financial resources come at the disposal of the state, how the proportions in the distribution of budgetary funds actually add up, and whether they are effectively used. Features of the state budget as an economic category leave their mark on the functions it performs. The content of functions, the scope and object of their action are characterized by defining specificity.

The scope of the distribution function is determined by the fact that almost all participants in social production enter into relations with the budget. The main object of budgetary redistribution is net income; however, this does not exclude the possibility of redistribution through the budget and part of the cost of the necessary product, and sometimes national wealth.

The control function lies in the fact that the budget objectively - through the formation and use of the state's fund of funds - reflects the economic processes taking place in the structural links of the economy. Thanks to this property, the budget can "signal" how financial resources come into the state's disposal from different business entities, whether the size of the state's centralized resources corresponds to the volume of its needs, etc. The basis of the control function is the movement of budgetary resources, reflected in the relevant indicators of budget revenues and expenditure assignments.

The state budget has always been an important tool for influencing the development of the economy and social sphere. With its help, the state, carrying out the redistribution of national income, can change the structure of social production, influence the results of management, carry out social transformations, etc.

The budget can have a great influence on the country's economy due to the fact that it can be used in the interests of accelerating scientific and technological progress. The creation of a fundamentally new mechanism for budget financing of science, the improvement of the state system of training and retraining of personnel, the use of a preferential tax regime in terms of taxing profits from the sale of new types of products, and similar budgetary measures are designed to stimulate scientific discoveries and new technical achievements, reduce the time for their introduction into production, and in the end - to serve as a catalyst for accelerating scientific and technological progress.

Budget revenues express the economic relations that arise between the state and enterprises, organizations and citizens in the process of forming the country's budget fund. The form of manifestation of these economic relations is different kinds payments of enterprises, organizations and the population to the state budget, and their tangible embodiment - the funds mobilized to the budget fund. Budget revenues, on the one hand, are the result of the distribution of the value of the social product among the various participants in the reproduction process, and on the other hand, they are the object of further distribution of the value concentrated in the hands of the state, because the latter is used to form budget funds for territorial, sectoral and targeted purposes.

The basis for the growth of financial resources is the growth and improvement of production.

Factors that affect the amount of financial resources:

The total amount of profit, which depends on the size of production and sales of products, the price index, the amount of costs, structural shifts in the production of products, the services provided and the work performed

The amount of taxes, which depends on the rate indicator, the amount of taxable trade, the indicator of tax benefits, compliance with tax discipline

The volume of mandatory payments, depending on the indicator of insured tariffs, / indicator of benefits.

The main types of financial resources of the state include:

1) Loans from the IMF and others international organizations, plus domestic loans from the Central Bank.

2) Taxes.

3) Deductions to off-budget funds.

4). Company payments to the local budget.

5) Others.

The composition of the financial resources of the state and their form are presented in Table. 2.1.

Table 2.1 - Composition of financial resources

Type of financial resourcesLevelSublevelForm of financial resourcesOwn financial resourcesmacro-stateincome from leasing and selling state and municipal property; income from the activities of state, municipal unitary organizationsmicro-economic entityauthorized capital, profits, depreciationhouseholdsalary, income from the sale of personal propertyFinancial resources Mobilized in the marketmacro-statesissuance of securities and paper money, state creditmicro-economic entitysale, purchase of securities, state credithouseholdsReceived in order of allocation financial resourcesmacro-governmenttaxes, fees, paymentsmicro-economic entityinterest and dividends on securities issued by other ownershousehold

V financial resources include:

Own resources:

a) at the level of organizations and households - profit, salary, household income;

b) at the state level - income from state enterprises, privatization, and in addition from foreign economic activity;

Mobilized in the market:

a) at the level of organizations and households - the sale and purchase of securities, a bank loan;

b) at the state level - issuance of securities and money, state credit;

Resources received in the order of distribution:

a) at the level of organizations and households - interest and divi dendy on securities issued by other owners;

b) at the state level - mandatory payments.

The financial resources united by economic agents have different directions of their application. If centralized financial resources are spent, as a rule, for national and municipal purposes: for the maintenance of the state apparatus, meeting the social needs of society, ensuring the functioning of the area of ​​circulation, then decentralized - for purposes that are related to the need for entrepreneurial activity and the family.

Back in late 2011, as a result of the ongoing recession in the domestic economy and the threat of massive bankruptcies in the Russian banking system, the Central Bank began to provide limited lending in the domestic market. Here is what the head of the Central Bank himself said about this:

The significance of this fact cannot be overestimated. In addition to Western securities, the assets of the Central Bank included liabilities of Russian banks, and I noted this earlier in a separate publication. This, one might say, was a historical moment, although the actions themselves were obviously dictated by force majeure, and not by any decision to exit the colonial regime. Subsequently, the situation returned to the previous one, when the volumes of Western lending reached their previous levels.

But back in July 2012, it was reported that banks in July for 317 billion rubles. (+14.5%) increased the volume of borrowings from the Central Bank, bringing the debt to it to 2.577 trillion. rub., according to the statistics of the regulator. The debt to the Central Bank reached its annual maximum precisely on July 31 and now amounts to 5.7% of all assets of the system,

Like a month earlier (in June, an increase of 32.7%) was recorded, the resource base of banks expanded largely due to borrowings from the Bank of Russia, the regulator itself admits. The loan portfolio of banks increased by 372 billion (+1.4%) and exceeded 25.7 trillion. rub. Thus, banks continued to attract funds from the Central Bank to increase lending.

If we look at the balance sheet of the Central Bank at that moment, we find that foreign securities in the gold reserves were worth 14.964490 trillion. rubles, but the amount of cash (6.809902 trillion) and funds on accounts (9.635604 trillion) amounted to 16.445506 trillion, that is, by 1.481016 trillion. more rubles. Which means nothing more than an additional emission of money that goes beyond the usual buying of petrodollars.

The fact that the issue of money went beyond the gold reserves indicated that the Central Bank had gone beyond the formal boundaries of the currency regime. This was also noted in a separate publication. However, the fact that such an exit did not exceed a few percent of the total money supply suggests that in general the situation remained the same - there was an obvious shortage of money in the economy and the Central Bank eliminated only an acute peak of liquidity shortage to stabilize the situation.

Lending rates in the interbank market remained within 7% (MIBOR 30), which was twice as high as the pre-crisis rates of 2005-2006:

However, the tendency to increase lending to Russian banks by the Central Bank was still growing. By the end of 2012, the volume of loans amounted to 3.4 trillion. rubles. In 2013, the Central Bank reduced this level to 2.7 trillion. by the end of May, and then again began to increase. In December 2013, they amounted to 4.2 trillion. rubles, and in July 2014 reached almost 6 trillion.

If we compare the volume of gold reserves and money supply at the same time, we get the ratio of 15.878 trillion. rubles (GFR = gold + securities of foreign issuers) and 18.625 trillion. rubles of emission (cash + funds in the accounts of the Central Bank). The difference will be 2.747 trillion. rubles - this is the amount that removes the Central Bank from the framework of the currency regime.

It is no longer secured by foreign exchange reserves, but by the obligations of Russian banks. So far, this share is not large and has little effect on the level of monetization, but the trend is clearly positive and allows us to say that Russia is gradually getting rid of the colonial regime and forming an independent financial system.

3. Problems and prospects of state financial resources of the Russian Federation and their role in economic development

3.1. The main problems of the financial resources of the state

Russian budget expenditures in 2018, according to preliminary calculations, will amount to 13.98 trillion rubles. rubles, and income 13.6 trillion rubles. Earlier in the 2017 budget and planning period 2018-20159, it was said that the state budget expenditures would be at the level of 14.2 trillion. rubles, and revenues will amount to 14.02 trillion. rubles.

A similar reduction occurred with the plan for 2017. Expenses amounted to 15.36 trillion. rubles, and revenues to the treasury were at the level of 14.5 trillion. rubles. Previously, revenues and expenses under the plan amounted to 15.6 trillion. rubles. In 2018, Russia is also waiting for a deficit budget: spending 16.39 trillion rubles, and revenues of 15.9 trillion.

The budget deficit will be covered by increasing the public debt from 12.3% in 2015 to 14.3% by 2018.

The materials of the Ministry of Finance also indicate that due to the gradual reduction of duties on oil and oil products, the Russian treasury will lose 444 billion rubles, but the increase in the tax on the extraction of minerals will bring 618 billion rubles to the budget.

In addition, it was previously reported that, according to the calculations of the financial department, the salaries of officials and the military will fall under the cut. This does not mean that they will fall, they simply will not be promoted, as was originally planned. Also, the government may try to save on pensions. If earlier Russians were offered to choose between 6% of the funded part or 2% of their salary, now there is a choice between 6% and a zero funded part.

The Ministry of Finance has taken up the revision of the budget for the next 3 years against the backdrop of a slowdown in Russia's economic growth and stagnation in industry. In mid-September, it became known that the government decided to reduce all unprotected items of the state treasury by 5-10% in order to free up money and redirect it to more important needs. At the same time, the president asked not to call it a budget sequestration. The conditions that have developed in Russian practice today, according to various estimates, are still transition economy. Thus, the relations that arise in the process of formation and further spending of financial resources are the most important and relevant. In order to reveal weaknesses of these processes, as well as to find ways to improve their mechanisms, an analysis should be carried out based on the statistical data of past years. The use of financial resources by public authorities and local self-government for the current 2015 and planned 2016 is mainly focused on fulfilling the social obligations of the state, taking measures to maintain the long-term sustainability of the country's pension system, financing large-scale projects, as well as effective management of the state's financial resources. The budgetary policy of the state is aimed at achieving the strategic goals of the country, which are contained in such legal acts, as decrees of the President of the Russian Federation and the Concept of long-term socio-economic development of the Russian Federation for the period up to 2020 and others. The main objectives of the budget policy for the current and planned years this is, firstly, reducing the risks of imbalance in all budgets of the budget system of the Russian Federation, reducing the role of foreign economic factors in income items federal budget, allocation of additional appropriations for improving the system of remuneration of employees of federal institutions, increasing the amount of pension payments and benefits every year, financing scientific activities and others. According to the long-term budget policy, it is also planned to reduce federal budget expenditures by 1.5%, then by 4.8% and 2.4% compared to previous years. State borrowings and proceeds from the processes of privatization of federal property these resources in the period from 2015 to 2016 will be the main source of budget financing. 2015 is forecast to double these resources. However, current trends in the use of financial resources are aimed at reducing many classic items of government spending, such as education and health care. This is due to the receding into the background of less priority expenditure items, which give way to expenditures that create favorable conditions for the budget system of the Russian Federation. However, according to the Main Directions of the Budget Policy, the expenditures of the consolidated budgets of the regions should increase to 39%, and the expenditures of the same regions on education should be equal to 40.5% of all regional expenditures. The expenditures of the consolidated budgets themselves should increase to 26% compared to previous periods. The question arises: how to increase the amount of expenses for several items without finding additional sources of income. The most inefficient but most popular solution reduction of other expenses. Improving the efficiency of the use of financial resources a long-standing problem of the state, which concerns all levels of the budget system. One of the measures to achieve improvements and obtain efficiency is the creation and adoption of policy documents. An example from practice is the Program for Improving the Efficiency of Budget Spending for the Period up to 2012, which was approved by the President of Russia. With its help, new “budgetary rules” were introduced, and a reform was carried out regarding state and municipal institutions. The achievements of this program can also be considered the fact that the concept of " e-budget". However, the problem is not solved completely, and the problems related to further reform of the budget process and control of the state and municipal level, the provision of services by the state, the improvement of the use and distribution of interbudgetary transfers and the improvement of the legal framework of the state's financial relations remain open. For this reason, it is important to adopt documents at the federal level that are focused on long-term development and perspective. These documents include the budget strategies of the Russian Federation, the essence of which is to make a forecast of the economic and social development of the country. As soon as the forecast is made, it will be possible to predict economic processes and regulate budget and tax policies. A very important role is played by the management of financial resources at the level of certain territories of the country, where the principle of independence gives the right to local governments to manage the financial resources of the regional budget. To achieve efficiency in the activities of local governments, it is necessary to make the following decisions: 1) reduce financial assistance from the federal budget to the budgets of the constituent entities of the Russian Federation. 2) improve the quality of financial management in the subjects. Despite the fact that there is practically no deficit in the budgets of state non-budgetary funds, they need to be improved and increased efficiency from the use of their budget revenues. So, for example, the long-discussed problem related to the issuance of pension payments has found its solution. The State Duma adopted laws on pension reform, which introduce a new procedure for calculating pension payments in 2015. It is assumed that the bar will be raised gradually and in 10 years will reach the value of 15 years. In other words, the new system provides choice and clearly delineates the requirements for a particular amount of pensions. Thus, in order to obtain effective results from the expenditure of certain state and municipal financial resources, it is necessary to carry out reforms, allocate priority expenditure items, approve socio-economic programs, adopt strategies, and also reduce the share of transfers to stimulate the own revenues of budgets of all levels of the budget system. RF. The Budget Code gives the following definition of the budget: the budget form of formation and spending of the fund of funds intended for financial support of the tasks and functions of the state and local government, expenses incurred through lending to the Bank of Russia State budget and its role in the economy The Budget Code of the Russian Federation considers the budget as a form of formation and spending of the fund of funds, which should be intended for financial support of the functions and tasks of the state and local self-government. According to the Budget Code of the Russian Federation, the budget this is a form of education and spending of funds intended for financial support of the tasks and functions of the state and local government. According to Art. 6 of the Budget Code of the Russian Federation, the budget system is a set of budgets of all levels and state extra-budgetary funds based on economic relations and state structure. The Budget Code gives the following definition of the budget: the budget a form of formation and expenditure of a fund of funds intended for financial support of the tasks and functions of the state and local self-government.

There are the following main risks of socio-economic growth in 2018-2019:

1) achieving an unsatisfactory indicator of the forecasted values ​​of the volumes and rates of GDP growth, including due to possible difficulties in attracting financial resources in order to ensure the planned indicator of domestic demand;

2) lower prices for oil and natural gas on world markets, due to both a possible slowdown in the growth of the global national economy and the development of alternative technologies for oil and gas production in countries that are traditional importers of these types of resources;

3) deviations of the ruble exchange rate against the US dollar from the predicted levels, due to the high dependence of the national currency exchange rate on the state of the global national economy and financial markets;

4) achievement of an unsatisfactory indicator of the expected growth in investment activity, including due to the continued high dependence of the growth rate of investments in fixed capital on the dynamics of investments in the fuel and energy and transport complexes;

5) achievement of an unsatisfactory indicator of target inflation levels, which are associated with a possible more necessary than predicted weakening of the ruble against the US dollar, rising prices for food and housing and communal services. However, despite some negative trends in Russian financial policy, the ongoing reforms open up broad prospects for the development of both the public and private sectors of the economy.

Many elements of state policy, including those in the budgetary and tax spheres, are not yet fully focused on stimulating the country's innovative development. The formation of conditions for modernizing the economy and changing the model of economic growth has not been completed. For the country's budget system, risks remain due to the high dependence of the economy and, accordingly, budget revenues on foreign economic conditions.

Summing up all of the above, it can be noted that the implementation of a rational and responsible financial policy - necessary condition the proper functioning of the Russian economy and, consequently, the implementation of the country's strategic development priorities.

3.2. Factors of growth of the financial resources of the state at the present stage

The current growth rate of nominal incomes of the population is about 8% per annum (as of October), for the first 10 months, incomes grew by 8.5% compared to the same period last year. By December, the growth rate of nominal income will slow down somewhat (up to 6-7%) and slightly increase to 8-9% by March. But these are nominal incomes. Considering inflation, it's much worse.

At the end of October, real incomes decreased by 0.5%, in November the fall was already by 1.5% (according to updated inflation data), in December the decline will accelerate to 3% (same as during the 2008 crisis). According to the official data of Rosstat, by the end of November inflation is already 9.1% per annum. By the end of December in best case 10.3%, but could be worse. By March, revenues could fall as much as 5%, the worst since the 2008 crisis.

Actually, below is a comparison of the rates of change in nominal and real incomes of the population (starting from November, my estimates of income changes)

In the public sector, among the majority of the category of state employees and officials, incomes (in the first 4 months of 2015) either remain at the level of 2013, or are moderately indexed by 6-10%, which is not enough to compensate for price increases. Due to the stagnation of the economy and the drop in oil and gas revenues, there is simply no money in the budget for large-scale injections, banknotes and wage growth.

In business, the mood is pessimistic, and against the backdrop of falling demand and business profitability, even a 5-7% nominal increase in wages can be a success.

By the way, there is an unambiguous correlation between real incomes and expenses.

On the graph, the real expenditures of the population from the report on GDP and real incomes (according to my calculations, using nominal incomes and inflation).

For expenditures, the data is only for the 2nd quarter, but knowing the trends in income, it is possible to estimate the potential change in the population's expenditures. Following the above-illustrated correlation, in the first half of 2015 there may be a drop in household spending by 5-7%. The mood of the population, in general, is cautious and suspicious, which will increase the savings rate, fearing dismissal and loss of a source of income.

Lending to the population (as almost the main driver of increasing consumer activity over the past 2 years) slows down to 12-15% in December this year (in 2012 there was a 45% increase, in 2013 about 30%). In the first half of 2015 lending may slow down to 5% growth.

deflationary trends. Decrease in rates of crediting, increase in rate of savings, extremely suppressed demand. This, by the way, will limit the rampant prices in 2015, i.е. above 15-18% inflation is unlikely to rise.

In Russia, financial instruments and mechanisms are increasingly being introduced into the budget process, focused on the implementation of the above priorities of the state financial policy, such as:

application of budgetary rules regarding the use of oil and gas revenues of the federal budget;

formation of federal budget expenditures in the structure of state programs;

attracting significant volumes of domestic government borrowing, leveling the growth of public debt servicing costs.

Although the initial draft of the federal budget for 2015 and for the planning period was calculated on a conservative assessment of the main macroeconomic indicators of the Russian economy, in comparison with the indicators of previous budgets: economic slowdown, lower global oil prices, weakening of the ruble against the US dollar and continued outflow of capital from the country. The real economic situation has destroyed even these very conservative forecasts.

Today, when developing the draft budget, an adequate assessment of the likelihood of negative scenarios was not given, which could significantly increase the risks for the Russian economy. And therefore, the approach of the full functional dependence of the Russian economy on the state of foreign markets for raw materials was again implemented in the budget.

In recent years, Russia's growth potential was estimated by most experts at a low 2-3%, in 2013 GDP growth was 1.3%, and its slowdown in 2014 was even more significant and the growth was only 0.6%. In such a situation, according to experts, questions about ways to stimulate the economy come to the fore.

Now, when the state is limited in resources, the tasks of development still need to be solved, but now in the context of sanctions and, focusing on import substitution programs. It is clear that fiscal stimulus has its limits. By stimulating demand, we should not stimulate asset bubbles, we should not stimulate inflation.

But when we talk about state demand, we must remember that we are introducing a federal contract system, and this is the rule for organizing this demand. Development of import substitution this is also an additional demand for the products of domestic manufacturers.

All export support measures this is also an additional demand from the outside world for the products of our enterprises. It is important to use the current situation for the rapid increase in domestic production, however, import substitution should be viewed as a largely forced measure and should not be elevated to the rank of a strategy, we should not close ourselves off from global competition.

Of course, in the context of limited public financial resources, we should also talk about revising the mechanisms for financing budget spending. Unfortunately, even today we are at the initial stage of reformatting budget expenditures from a departmental expenditure structure into a programmatic configuration for presenting the federal budget.

We have to state that a full-fledged system of state programs, which allows, with the help of a set of interrelated measures and intersectoral interaction, to achieve the set goals and solve the planned tasks, has not yet been formed. State target programs it is still, in fact, the old tasks of the old goals and old programs reformatted to meet the new requirements of the budget process.

The problem is that the transition to the program principle implies the need to change the very system of decision-making that ensures real competition between state programs. That is, more effective programs should be eligible to receive more increased funding because they produce results. Less effective programs that do not give results, in theory, should be curtailed.

Of course, over the past few years, some progress has been made in building a system of economic rules: they created a budget rule, switched to new rules for organizing public procurement under a contract system, and in the monetary sphere, they practically switched to inflation targeting. This creates the prerequisites for achieving a balanced budget in the long run.

But at the same time, the coordination of these rules this is a problem that is still waiting to be solved. Moreover, within the "rules" themselves there are certain contradictions.

Thus, the impact of the slowdown in economic growth and the corresponding slowdown in the growth of budget revenues through the budget rule activates its impact on changes in the expenditure side of the budget, significantly restraining them.

If we take into account that a certain part of the economy's expenditures is artificially slowed down within the framework of the budget rule, it is clear that in this case not only inflationary processes, but also economic growth will naturally slow down.

As a kind of leveling of this influence, a general statement is introduced that in the near future the main source of increasing budget expenditures this is a source associated not with their absolute increase, but with the optimization of budget expenditures (both structural and technological) and an increase in their efficiency.

The reserve ruble mechanism as a means of increasing the country's financial resources. For the domestic economy, the internationalization of the ruble brings with it both benefits and costs. The most obvious advantages of the internationalization of the ruble include the following.

The most important positive consequence of the transformation of the ruble into a reserve currency is its inclusion in the processes of redistribution of global capital. In other words, Russia will regularly receive a significant additional inflow of long-term investments, and consequently increase the volume of financial resources. The redistribution of global capital between reserve currencies means providing significant advantages in global competition to those countries that issue currencies used by global investors as reserve ones. These advantages are realized in the form of additional resources for the development of enterprises in a given country, the acquisition of assets in other countries, for additional growth in the welfare of the population, etc. Therefore, the presence of a currency in Russia, considered as a reserve, is extremely important for enhancing its role on the world stage, sustainable socio-economic development, and the growth of the living standards of citizens.

In addition, other important positive consequences of the transformation of the ruble into a reserve currency should be noted. Minimization of foreign trade costs. In connection with the transfer of contracts into rubles, the costs of exchanging currencies disappear. Foreign exchange risks for residents no longer exist, which allows more reasonable investment planning. Transaction costs (associated with foreign exchange and hedging operations, international payments and management of accounts in various currencies) are reduced.

Transparency of foreign trade and financial market conditions. Prices become more transparent, as it is easier for counterparties within the ruble's zone of influence to compare them, which contributes to increased competition. In addition, the transparency of pricing for financial markets. In international lending and investing in rubles, priority is given to assessing credit rather than non-currency risk.

Reduced volatility of export earnings. Currently, due to the fact that export contracts are denominated in dollars or euros, ruble revenue depends on exchange rate fluctuations. After the transfer of foreign trade to rubles, export earnings will stabilize, and, as a result, the volatility of economic growth will decrease. In addition, trade volumes within the zone of influence of the ruble (in the CIS) are stabilizing.

Increasing the size of the financial sector. Since significant amounts of ruble resources will be kept on accounts in Russian banks, their ruble liabilities will increase. The inflow of capital into the country for the purchase of reserves by foreign investors will lay the foundation for the growth of foreign liabilities and assets of the banking sector denominated in rubles.

Development of the market for long-term instruments. Choosing the ruble as a reserve currency, foreign central banks will be interested in acquiring long-term debt with a high credit rating. Thus, they will contribute to the formation of a market for conservative investors and ensure demand for long-term instruments, which are in short supply in Russia.

Decreased financing costs. An increase in the size of the banking sector will lead to a discount (negative premium) for liquidity. Thanks to the influx of foreign capital, interest rates will decrease in the capacious and liquid ruble market.

Increasing the resilience of the national economy to external shocks. The growth of the banking sector and the strengthening of the securities market will contribute to greater stability of the national economy. Problems with the current financing of its development will disappear, which will reduce the country's vulnerability to external shocks.

Financing the trade deficit. Covering a hypothetical trade deficit is easier because capital flows are denominated in the same currency as current payments. Russia will be able to finance this deficit freely by issuing ruble-denominated debt instruments.

Minimizing the costs of Russian citizens traveling abroad. When traveling abroad for tourism or business purposes, it will be possible to easily exchange the ruble for local currency on the cash market of the countries that are Russia's main partners, with minimal exchange rate losses. In addition, Russian citizens who are consumers of imported goods and services will receive additional savings when purchasing these goods and services due to the fact that the ruble will appreciate steadily. At the same time, the status of a reserve currency carries with it serious costs. For this reason, a number of countries, including Japan and China, do not encourage or even prevent the spread of national currencies outside their economies.

The main negative consequence of the ruble receiving the status of a reserve currency is the inevitable strengthening of the ruble exchange rate, leading to a weakening of the competitive advantages of Russian producers. Other negative consequences of obtaining the status of a reserve currency by the ruble should also be pointed out. Conclusion

Financial resources are monetary resources that are administered by the state, local governments and entrepreneurs, used by them for the purpose of expanded production, meeting the socio-cultural needs of society and for the state to fulfill its goals.

The volume and structure of financial resources are directly related to the level of production growth: the larger the scale of production and the higher its result, the greater the volume of mobilized and applied financial resources.

The complicating economic and political situation will inevitably lead to the need for the growth of public, mainly state finances. The growth of budget expenditures will be affected by the growing need for financial resources for large investments in the modernization of production, in the development of new technologies, in the training of personnel. In other words, stimulating the economy must inevitably become costly for the country's consolidated budget.

Of course, one should not simplify the problem by reducing it only to the need to increase budget expenditures. One of the key choices facing the government it is the choice of a policy aimed at maintaining economic growth through current consumption, or a policy of sustainable growth, which assumes a proportional distribution of costs between current consumption and investment in infrastructure (“investment in the future”). But, of course, now is the time when we should think more about the mechanisms to support the proposal.

Budget policy should be oriented not only to ensure the current life of society, but also to create prerequisites for future development. It is in the future structure of the economy that new sources of income are formed not only for corporations, but also for the budget. From this point of view, infrastructure development is one of the key conditions for increasing total factor productivity (labor productivity, return on private capital, etc.) and creating prerequisites for long-term sustainable growth.

For many years, one of the main focuses of Russian budgetary policy was considered to be the stability of public finances, which was ensured by a low level of public debt, as well as the accumulation of sovereign funds.

The structure of the use of GDP testified that in Russia there is a fairly large reserve of unsatisfied consumer demand. Accordingly, artificial containment of the use of GDP for final consumption formed a niche of consumer demand, which was covered by the growth of imports.

Today, in the context of sanctions that have largely provoked a sharp depreciation of the ruble, excessive dependence on imports has led to many economic problems that could well have been avoided.

The financial policy of the state occupies a significant place in state activity and is a fundamental element in the financial management system. For the proper functioning of the state economy, it is necessary to conduct a balanced financial policy within the framework of the country's economy.

The rate of development of industry, agriculture, transport, communications and other industries, as well as the subjects of the Russian Federation, depends on the degree of its rationality. Therefore, an important and relevant direction is the definition, analysis and study of financial policy problems, as well as the search for optimal ways to solve these problems.

In accordance with these problems and the strategic development of the Russian Federation, the following goals and objectives are defined:

Decrease in public debt;

Stabilization of the national currency and reduction of inflation rates sequentially from year to year

Transition to medium-term planning;

Balanced budgets of all levels and state off-budget funds;

Improving the model of budgetary federalism;

Increasing the reliability and reliability of economic forecasting;

Increase in the volume of subventions to the regions from the federal budget for the implementation of the federal powers transferred to them

The need to revise fiscal policy.

Thus, through these goals and objectives, it is necessary to ensure the balance and sustainability of the budget system, strengthen its role in stimulating long-term economic growth and raising the standard of living of the population, accelerating the country's innovative development and forming a sustainable pension provision mechanism for the long term.

Undoubtedly, the policy pursued by the government in the field of finance is ambiguous. It has both positives and many negatives. Political aspects of economic decisions have a large, often negative impact on it.

List of sources used

1. Constitution of the Russian Federation (adopted by popular vote on 12/12/1993)
2. Budget Code of the Russian Federation dated July 17, 1998 (subject to subsequent amendments and additions)
3. Civil Code of the Russian Federation (Part I) of November 30, 1994 No. 51-FZ.
4. Civil Code of the Russian Federation (Part II) of January 26, 1996 No. 14-FZ.
5. Tax Code of the Russian Federation (Part II) dated August 5, 2000 No. 117-FZ.
6. Babich, A.M. State and municipal finance: textbook. for universities [Text] / A.M. Babich, L.N. Pavlova. M.: UNITI, 2009. 688 p.
7. The budget system of the Russian Federation: textbook. [Text] / Ed. G. B. Poliak. M.: UNITI-DANA, 2012. 212 p.
8. Burkhanova I. V. The budget system of the Russian Federation. Lecture notes [Text] / I. V. Burkhanov. M.: Eksmo, 2011. - 160 p.
9. Zharkovskaya, E.P. Finance: textbook. allowance [Text] / E.P. Zharkovskaya, I.O. Arends.-M.: Omega-L, 2011. 400 p.
10. Igonina L.L. Modernization of the Russian financial system: tasks, trends // Finance and credit. - 2012. - No. 3.
11. Kormilitsyna I.G. Financial stability: essence, factors, indicators // Finance and credit. - 2011. - No. 35.
12. Myslyaeva, I.N. State and municipal finance: Textbook [Text] / I.N. Myslyaeva.- M.: INFRA-M, 2009. 264 p.
13. Sviridov, O.Yu. Finance: textbook. allowance [Text] / O.Yu. Sviridov. M.: ICC "Mart", 2009. 480 p.
14. Finance: textbook. [Text] / Ed. A.G. Gryaznova, E.V. Markina. M.: Finance and statistics, 2011. 504 p.
15. Finance: textbook. [Text] / Ed. V. V. Kovaleva. M.: TK Velby, Prospekt, 2009. 640 p.
16. Finance: textbook. [Text] / Ed. G.B. Pole. M.: UNITI-DANA, 2011. 516 p.
17. Finance: textbook / team of authors; under. ed. E. V. Markina. M.: KNORUS, 2014 - 432 p.
18. Official website of the Bank for International Settlements. Access mode. URL:#"justify">Official website of the Bank of Russia. Access mode. URL: #"justify">Official site of the Russian federal publication Gross domestic product. Kolganov A., Guidelines for the financial system of Russia // #"justify"> Rating agency "EXPERT RA" http://raexpert.ru
19. Federal Tax Service: http://www.nalog.ru/
20. federal Service State statistics of the Russian Federation: www.gks.ru

Enterprises are funds that are formed in the process of selling products or services, come from investors or creditors. They are used to expand production, can be used to reward employees or to form cash funds. are in circulation and cannot be extracted and used for other purposes.

Formation of the composition of finance

Finance consists of:

• Cash funds.
• Investment.
• Communicative financial relations.

Finance can appear as a result of the redistribution of funds and cost reduction.

Enterprise finance is a complex structure that includes state finance, industry finance, the nominal value of securities, insurance payments, as well as cash in circulation and loans.

Material resources are the basis of the production process.

They are formed from the following sources:

• Own funds.
• Loans and credits.
• Attracted finance (investment support).

Own funds, as a rule, are in circulation and make up a large part of the company's finances. Their expiration date is not clearly defined. Own funds appear as a result of the sale of products and are pledged to the authorized capital.

Borrowed funds of an organization are monetary resources that are issued to a company for a certain period of time, subject to return. Usually borrowed funds are formed thanks to bank loans (both long-term and short-term).

The attracted funds do not nominally belong to the organization and are transferred for temporary use on certain conditions. Investments can be directed to the expansion of production or to local tasks.

Each of the above sources is part of the company's assets and can be used to provide material support for the production and economic activities of the enterprise with one single goal - to maximize profits.

The company's financial resources are the sum own funds, investments and loans that take part in the circulation of capital and are required for the functioning of production.

Components of financial resources:

• Funds in circulation.
• for depreciation.
• Funds pledged in the trust fund.
• Funds pledged in the corporate fund.
• Credit funds.

ALL-RUSSIAN CORRESPONDENCE FINANCIAL AND ECONOMIC INSTITUTE

DEPARTMENT OF FINANCE AND CREDIT

TEST

in the discipline "Finance"

Lipetsk - 2008.

1. Financial resources and their composition .............................................. ......................3

2. State budget, economic content and significance .............................. 6

List of references .............................................................................. ....................eleven

1. Financial resources and their composition

Financial resources - it the totality of funds of funds at the disposal of economic entities, the state, households, i.e. This is money that serves financial transactions. They are formed in the process of material production, where new value is created and GDP and ND arise. Therefore, the amount of financial resources depends on the value of GDP and ND.

The subjects of financial resources are:

1) households;

2) enterprises, associations, companies, etc., i.e. legal entities owning decentralized financial resources;

3) the state in the form of various budgets and off-budget funds.

The ratio between them is determined by market relations. The more independence individuals and legal entities have, the more opportunities they have to generate financial resources. In turn, this provides an increase in the flow of financial resources to the state. The optimal ratio between them is determined by the state on the basis of a scientifically based calculation, incorporated in the country's socio-economic forecasts.

The objects of financial resources are financial relations, as a result of which target funds are formed. They are concentrated in two blocks:

1) decentralized financial resources that are created on microlevel. At enterprises, there is a process of isolating specific forms of primary income (profit, wages) from the gross income, there is a process of capital accumulation in the form of a depreciation fund, proceeds from retired property, etc. In the household, specific trust funds are also separated (for consumption, recreation , durable goods);

2) centralized financial resources created on macro level, which include revenues of budgets of all levels and revenues of off-budget funds.

Financial resources include :

1) own funds:

at the level of enterprises and households - profit, wages, household income;

at the state level - income from state-owned enterprises, privatization, as well as from foreign economic activity;

2) mobilized in the market:

at the level of enterprises and households - the sale and purchase of securities, a bank loan;

at the state level - issuance of securities and money, state credit;

3) funds received in the order of redistribution:

at the level of enterprises and households - interest and dividends on securities issued by other owners;

at the state level - mandatory payments (taxes, fees, duties).

Finance and financial resources are not identical concepts. Financial resources do not define the essence of finance, do not reveal their internal content and social purpose.

Financial resources, their formation and use are reflected in the consolidated financial balance of the Russian Federation.

Consolidated financial balance of the Russian Federation includes financial resources from three sources:

1) resources used by the enterprises themselves (profit, depreciation);

2) funds accumulated by the budget system;

3) funds from extrabudgetary funds, primarily social ones.

However, due to the lack of accurate statistical data, the consolidated financial balance does not include data on income and expenses of an important subject of financial resources - the household.

In recent years, the importance of profit and depreciation has increased as a source of financing for expanded reproduction at enterprises, especially depreciation deductions, since every year on January 1, fixed assets are revalued.

At the same time, there is a process of centralization of financial resources in the budgetary system and in non-budgetary social funds. Now their share in the consolidated budget accounts for approximately 50%.

2. State budget, economic content and significance

State budget - this is the balance of cash income and expenditure of the state for a certain period of time (usually at the end of the calendar year).

The formation of the budget is directly connected with the development of the national income and its redistribution. The main financial methods for the redistribution of national income are:

formation and use of monetary savings (profits, value added tax, payments to social non-budgetary funds);

organization of taxes;

financing of sectors of the national economy;

formation and use of public consumption funds, insurance and reserve funds.

The budget plays an important role in all these processes. With the help of the budget, state and territorial authorities receive financial resources for the maintenance of the administrative apparatus, the army, the implementation of social measures, the implementation of economic tasks, i.e. to perform their assigned functions.

At the same time, it is legitimate to consider the budget as an economic category that expresses certain economic relations. The state uses the budget as one of the main instruments for ensuring both its direct activities and as the most important tool for conducting economic and social policy.

The budget performs the following tasks :

1) redistribution of national income;

Distribution the function of the budget is manifested through the formation and use of centralized funds of funds at the levels of state and territorial authority and management. V developed countries 30% to 50% of the national income is redistributed through the budgets of different levels. With the help of the budget, the state regulates the economic life of the country, economic relations, directing budgetary funds to support or develop industries and regions. Regulating economic relations in this way, the state is able to purposefully accelerate or restrain the pace of production, the growth of capital and private savings, and change the structure of demand and consumption.

Redistribution national income through the budget has two interrelated, occurring simultaneously and continuously stages:

formation of budget revenues;

use of budgetary funds (budget expenditures).

2) government regulation and stimulation of the economy ;

During the formation of budget revenues and the use of budgetary funds, the following tasks are solved: state regulation economic and social processes in the country.

Budget revenues- these are economic relations between the state, on the one hand, and economic entities and citizens, on the other. At the same time, budget revenues are funds received at the disposal of state authorities and local self-government.

In the process of formation of budget revenues, there is an imperative withdrawal in favor of the state of a part of the national income. On this basis, there are financial relationships between the state and enterprises and the population.

The budget is actively involved in the distribution of profits of enterprises and economic organizations. There is a well-known relationship between the forms and amount of withdrawal of part of the profits of enterprises to the budget and the interest of the latter in the results of their work. The interest of enterprises in the better use of production resources, increasing the level of profitability and increasing profits depends on how perfect the forms of withdrawing part of the profits to the budget are.

Budget expenditures- these are economic relations that arise between the state, on the one hand, organizations, institutions and citizens, on the other, in the course of using centralized funds of funds.

By centralizing part of the financial resources in the budget, the state is able to provide monetary resources for nationwide needs - the accelerated development of progressive sectors of the national economy, the reproduction of skilled labor, the development of science and technology, and ensuring the country's defense capability.

3) financial support of the social sphere and implementation of the social policy of the state;

Through the budget, the national income is redistributed throughout the territory, as well as from the production into the non-manufacturing sector for which money funds are created at the expense of the budget to finance needs in the field of health care, education, culture, management, and defense.

Through budgets, through budget financing, financial resources are redistributed between sectors of the production sector in order to develop them proportionally.

Using the budget as the main tool for the redistribution of national income, the state directs funds primarily to those sectors of the national economy and those economic regions that require priority development at this stage, i.e. through the budget there is an inter-territorial and inter-sectoral redistribution of national income. Thus, the interests of the economic development of the country as a whole and the interests of the proportional development of the regions are observed.

The state budget provides funding for scientific institutions that carry out fundamental scientific research, which is the basis for the development of applied science and the creation new technology. This ensures the development of the productive forces of the country. All this makes it possible to coordinate the economic life of the state, rationally allocate monetary and material resources throughout the national economy, promotes technological progress and enhances the economic potential of the state.

plays an important role in local economic and cultural construction budgetary regulation. With the help of it, the inter-territorial distribution of funds is carried out on a large scale, providing the necessary sources of income to regional and local budgets, which are the financial base of the territorial authorities, and thereby strengthens their connection with the entire economy of the country.

The role of the budget in the non-productive sphere is great, where it is the main funding source. It is through the state budget that funding for social and cultural events, government and defense comes. Funds mobilized through the state budget are of paramount importance for the formation and distribution of public consumption funds (over 86% of the total amount of public consumption funds). As is known, the main form of distribution of the national income consumption fund is distribution according to work. However, along with it, there are public consumption funds, which are designed to jointly meet the needs and support of disabled members of society, i.e. consumption in the field of public education, healthcare, social security, housing, etc.

All budget items are drawn up on the basis of the national economic plan, and all expenditures are made in strict accordance with the plan. In turn, budget planning exerts an active influence on national economic planning.

4) control over the formation and use of centralized funds of funds.

And finally, budgets are fulfilled control a function that implies the possibility and obligation of state control over the receipt and use of budgetary funds.

Thus, the state budget, being the main financial plan of the state, gives the authorities a real economic opportunity to exercise power. The budget reflects the amount of financial resources needed by the state and thus determines the tax policy in the country. The budget fixes specific areas for spending funds, redistributing national income and gross domestic product, which allows it to act as an effective regulator of the economy and social processes in the country.

List of used literature

1. Finance: Textbook / Ed. L.A. Drobozina. – M.: UNITI, 1997.

2. Enterprise Finance: Textbook / Ed. N.V. Kolchina. – M.: UNITI, 2001.

3. Finance. Money turnover. Credit: Textbook / Ed. prof. G.B. Pole. - M .: UNITY-DANA, 2nd ed. 2001.

4. Finance. Textbook / Ed. prof. V.M. Radionova. - M .: Finance

and statistics, 2002.

5. The budget process in the Russian Federation: Textbook / L.G. Baranova, O.V. Vrublevskaya and others - M .: "Perspective": INFRA-M, 1998.