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Public Budget represents the basis of every countrys financial system, expressing
the specific type of financial relations - budgetary relations that are implied in
the processes of formation, distribution and use of budgetary funds necessary
for the national (central) and local state bodies.
Public Budget represent the economic relations that manifest themselves in the
process of formation and utilization of the main centralized cash fund of the
state and of the administrative-territorial units funds, with the purpose of
financing the activities focused on improving the quality of life, the economic
development of the country, scientific research, improving and widening the
infrastructure, creating state reserves, national defense, and public and law
order
Public Budget represents the main document, viewed as a law, which establishes
the nature and the size of income that is mobilized by the state on one side, and
on another side the type and the amount of budget allocations that the state will
forward to fund various activities during the year.
There are three categories of financial (budget) laws:
A.The annual law of finance or the law of initial budget which stipulates and
authorizes the set of state resources and expenses for each financial year and it is
known as the State Budget Law;
There are three categories of financial (budget) laws:
B.The adopted laws of the state budget (adopted for the current year) focus on
the rectification (correction) of the provisions of the initial budget law (the
number of the provisions is not fixed and can vary from year to year);
a)From the juridical point of view, budget is a financial document with the power
of law which includes certain norms and normatives for organization of a clear
and explicit financial administration; these norms are for organization of a
transparent administration of state finances and determination of Governmental
authorities in the budget field.
b) From the accounting point of view the budget represents the set of accounts
that administrate financial resources of the state. Here, from the technical point
of view we are interested especially in processes of elaboration and execution
of budget as methods of forecasting and evaluation of different categories of
revenues and expenses of the Budget.
c)From the economic point of view can be mentioned the specific funds that pass
through budgetary account. These funds represent the considerable weight of
GDP taken through taxes and expenses made by the state.
d)From the political point of view the budget is considered as the expression of
Governmental options in the set of fields (economical politics, social,
educative, cultural, military etc.); these options are reflected through
accumulation and distribution of revenues and expenditures and are determined
by multiple factors related to doctrines of political parties, past influence,
inertial phenomena etc.
Budget
must
execute
three
functions:
1.Control over expenditures by which is supervised budget execution by public
authorities.
2.Efficient use of financial resources and staff for managing and realizing the
supposed
activities.
3.Planning of state activities by which are established objectives and are
formulated
different alternative programs being evaluated by financing
possibilities.
Budgetary System of Federal Type states is formed from three parts:
1.The budget of federation;
2.The budget of territorial units (components of federation);
3.Local budget.
Budgetary System of Unitary Type is composed from two components:
1.Budget
of
state
central
administration;
2.Local budget of territorial-administrative units.
The budgetary system of the Republic of Moldova has the unitary type. According
to the Law of the Republic of Moldova Regarding budgetary system and
budgetary process, Nr.847 from 24.05.96 Budgetary system is a unitary
system of budgets and funds, which constitute the national public budget,
comprising:
a) state budget
elaboration
of
the
budget
project
The Ministry of Finance presents the main economic data, necessary for the
elaboration of state budget project, in terms fixed by the Government and it
includes:
a) Forecast of macroeconomic and social indicators for the next budgetary
year, which is determined, elaborated and presented by the Ministry of
Economics.
b) Forecast of indexes and demands of the state social insurance budget,
which is determined, elaborated and presented by the Ministry of Labor, Social
and Family Protection.
c) Forecast of the balance of payments, of credits, of external obligations
and of other indicators that characterize the credit monetary policy of the state,
determined, elaborated and presented by the National Bank of Moldova.
After the amendments have been included, if they existed, the Government
approves the project for the next budget year.
Until the October 1-st of each year, the Government presents to the
Parliament:
a) The project of budget law for the next budget year and the explanatory
note;
b) The list of modifications in the legislation resulted from project of annual
budget law.