18. Budgetary powers of federal government bodies

Federal bodies of state power exercise budgetary powers:

1) establish the general principles of the organization and functioning of the budgetary system of the Russian Federation, the foundations of the budgetary process and interbudgetary relations;

2) determine the basis for the preparation and consideration of draft budgets of the budget system of the Russian Federation, approval and execution of budgets of the budget system of the Russian Federation, approval of reports on their execution and control over their execution;

3) establish the procedure for the preparation and consideration of draft federal budgets and budgets of state non-budgetary funds, approval and execution of the federal budget and budgets of state non-budgetary funds;

4) draw up and consider drafts of the federal budget and budgets of state extra-budgetary funds, approval and execution of the federal budget and budgets of state extra-budgetary funds;

5) establish the procedure for compiling and submitting to the federal executive authorities the codes, approved budgets of the constituent entities of the Russian Federation and local budgets for the next financial year, reports on the execution of the consolidated budgets of the constituent entities of the Russian Federation and other budget reporting;

6) establish the procedure for delimiting the expenditure obligations of the Russian Federation, constituent entities of the Russian Federation, municipalities;

7) determine the procedure for establishing and fulfilling expenditure obligations of the Russian Federation;

8) determine the procedure for establishing and fulfilling expenditure obligations of the constituent entities of the Russian Federation and municipalities subject to execution at the expense of subventions from the federal budget;

9) determine the basis for the formation of revenues and the implementation of expenditures of the budgets of the budgetary system of the Russian Federation;

10) determine the procedure for establishing standards for deductions from federal, regional and local taxes and fees;

11) establish standards for deductions from federal taxes and fees;

12) determine the general principles for the provision and forms of interbudgetary transfers;

13) establish the procedure and conditions for the provision of interbudgetary transfers from the federal budget;

14) establish the procedure for borrowing by the Russian Federation;

15) carry out state borrowings of the Russian Federation and the provision of loans to foreign states, manage the state debt of the Russian Federation;

16) establish a unified procedure for maintaining budgetary accounting and reporting for the budgets of the budgetary system of the Russian Federation and budgetary institutions;

17) other budgetary powers.

Author: Natalia Burkhanova

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