3. budget performance;
4. preparation of the performance reports and their approval.
An integral part of the budget process is the budget regulation –
reallocation of financial resources among the budgets of different levels.
United States federal structure gives rise to a very important feature of the fiscal process: the precise interaction of three systems-Government revenue, public spending and fiscal relations. The system of public expenditure consists of the drafting of the budget, its finalization in the Executive Branch, Congressional approval and monitoring. State revenue system is a combination of tax and non-tax payments that exist in the State and ensuring its expenses, revenue collection mechanisms and control over resources, and legislating fiscal revenues.
Показать всеfeature of fiscal policy and budget system United States-their relationship with the State of the economy and economic policy of the State. The development and adoption of decisions on holding any important economic activities in any area is simply impossible without linking them to the budgetary policy of the country. And vice versa-all American budgetary activities are developed and carried out in line with the overall Government strategy.
Federal revenues United States can be divided into three categories, in accordance with the approach to them in the budget process.
Discretionary spending-on defense, transportation, national parks, international assistance-make up about a third of the budget. Discretionary programs controlled by the annual assignacionnymi laws; General policy makers decide each year how many dollars to allocate to a particular activity. Some contributions and other charges involved in making appropriations, classified as offsetting receipts, discretionary spending purpose of covering. Mandatory costs that represent more than 50% of the federal budget, made up the vast majority of benefit programs such as social security, Medicare for the elderly, medical care for the poor. Congress usually controls the expenditure on these programmes through the adoption of rules of jurisdiction, and other parameters benefit calculation, not by the exact number of allocations of funds each year. The budget Office projects mandatory cost takes into account that existing legislation and policies will be unchanged and the majority of the expiring programs will continue.
Compensating revenue-miscellaneous charges that are recorded as negative budget authority and outlays are going out-assignment processes. The compensating income different from income so that revenues collected as a manifestation of the rule of government authority, while compensating income tends to come from other accounts of the Government or society in the business are paid circulation (such as rental payments for royalties).
Net interest includes interest paid on Treasury securities and other interest paid by the Government (for example, for overdue debt) net of interest received by the Government from different sources (for example, with commercial banks on tax and loan accounts). These costs vary depending on the size of the State. debt, annual budget deficits or surpluses, market interest rates.
Total State expenditures of United State budgets make up 26% of the expenditures of the federal budget. Incomes of State budgets:
1. main source-VAT and excises (indirect taxes of about 50% of revenue) the average rate of turnover tax is 4%. Скрыть
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