Refers to the method of financial activity. Financial activity of the state. Methods for distributing cash funds
Financial activities are carried out by a special apparatus on the basis of various methods(including incentives, restrictions and sanctions).
Depending on the participants in financial activities, methods of its implementation are divided into two groups:
Methods of collecting (mobilizing) funds of funds ( voluntary, mandatory And mixed);
Methods of their distribution and use.
1) Collection (mobilization) methods cash funds are divided into kinds:
A) tax method - used by the state to withdraw part of the income of citizens, state and non-state enterprises, organizations and institutions into the budget;
b) mandatory contributions (payments) legal entities and individuals to the Pension Fund, legal entities to the funds for employment, social insurance, compulsory medical insurance, etc.;
V) voluntary attraction of funds in the form of household deposits in the bank, the purchase of bonds and other securities, state and municipal loans, lotteries, charitable donations;
G) collection of fees and duties, that is, fees for services provided by authorized bodies (judicial, customs duties, etc.);
d) with the help insurance method insurance funds are formed;
e) issue of money - additional release of funds into circulation.
2) Distribution methods cash funds:
A) financing - planned, targeted, gratuitous and irrevocable issuance of public funds from the budget;
b) lending - this is a planned, targeted, but repayable and compensated issuance of funds in the form of bank loans;
V) insurance compensation payments, pensions, benefits, winnings carried out from previously formed corresponding funds;
G) making payments between different subjects.
A set of homogeneous, interconnected in forms and methods of accumulation or distribution of funds, economically, is usually called financial institution, which include, for example, all relations in the field of budget or all relations in the field of taxes or credit.
The ratio of mandatory and voluntary payment methods depends on many factors: the political course of the state and local authorities, the need for financial resources, the standard of living of the population, etc.
At distribution funds are used financing And lending .
Financing designed to maintain continuous and renewable production activities of state and municipal enterprises. This is the provision of funds for the needs of expanded reproduction.
In a market economy, state and municipal authorities finance only targeted local programs. State and municipal needs are met through budgetary funds and extra-budgetary sources attracted to solve the assigned tasks.
Except direct financing for economic development the state can use indirect financing in the form of tax benefits, foreign currency left at the disposal of the enterprise on preferential terms, etc. Specific types, amounts and procedures for providing financial benefits are established by state authorities and local governments during the approval of a specific target program.
The state also indirectly finances important events and programs through the budget system.
Lending, like financing, provides the financial needs of the process of expanded reproduction, but differs retribution, urgency And repayment. Loans from state and municipal funds are provided mainly to private enterprises, but there may be cases where state and municipal loans are also received by budget-funded enterprises, institutions, and organizations.
The use of state and municipal funds is carried out through settlement transactions , which may be in cash And cashless forms.
Financial activities are carried out by the state as protective , so regulatory ways administrative And economic methods. In a market economy, the use of administrative methods in financial activities is reduced. They are used in organic unity with economic methods. Regulation of the financial activities of the state and municipalities in modern conditions is aimed at strengthening the economic justification of any administrative decisions and at eliminating elements of administration in financial activities.
Types of bodies carrying out financial activities:
1) bodies of general competence, Carrying out general regulation and control over financial activities:
a) The President of the Russian Federation - signs and promulgates the federal law on the federal budget;
b) legislative (representative) bodies of the Russian Federation, constituent entities of the Russian Federation and municipalities (for example, the Federal Assembly of the Russian Federation) - consider and adopt (or reject) budgets of the corresponding levels;
c) executive bodies of the Russian Federation, its constituent entities and municipalities (for example, the Government of the Russian Federation) - submit the draft budget to legislative (representative) bodies and carry out general management of its implementation;
2) bodies of special competence, created specifically for financial activities:
a) Ministry of Finance of the Russian Federation.
b) Federal Treasury of the Russian Federation.
c) Ministry of the Russian Federation for Taxes and Duties. Main tasks in the field of financial activities.
Financial activity of the state- a special type of activity in the exercise of state power and public financial management, which is generally regulated by the norms of state and administrative law. This activity is aimed at the uniform collection of funds for the treasury, as well as at the fair distribution of these funds between the Russian Federation, the Moscow Region, and between sectors of the economic and socio-cultural spheres.
The main goal is to implement financial development programs.
Functions of financial activities:
1. Formation of state municipal monetary forms.
2. Distribution of government resources.
3. Use of government resources.
4. State and municipal control over the movement of financial resources.
5. Issue of funds (signs).
Aspects of financial activity:
Economic - the financial basis is based on economic laws, levers and incentives.
Organizational and technical - activities are of a special nature in organizing accounts, accounting and collecting money
Legal aspect - FD is carried out using a special method.
Methods of state financial activity- these are methods of theoretical research and practical implementation by public authorities and public administration of the financial activities of the state. The variety of methods for carrying out financial activities depends on many factors: the subject of legal relations, the conditions of accumulation and use of funds.
As a rule, methods of carrying out financial activities are divided into two groups:
1) methods of collecting funds;
2) methods of distribution and use.
Collection methods include the following methods: tax method - with the help of it the state withdraws in one form or another without fail, within a specified time frame and in a specified amount, funds for transferring them to budgets of a certain level; The voluntary contribution method is voluntary, unlike the tax method, and can be expressed, for example, in the purchase of securities, donations, deposits in banks, etc.
When distributing and using public funds, the following most important methods are used: financing method (expressed in the gratuitous and irrevocable provision of funds. This method is applied to government organizations); lending (means the allocation/provision of funds on the terms of remuneration and repayment. This method can be applied to both government organizations and private organizations). The financial activities of the state are carried out through bodies that manage and direct them in accordance with the powers vested in them. Almost all state bodies and local governments are involved in financial activities. The form of financial activity of the state is understood as the structure, order of formation and organization of the highest authorities established in the state. Financial activities have their own principles:
1. Principles of financial, tax, policy, economic space, protection of all forms of property.
2. Principles of compliance with financial discipline and rules.
3. Principles of purposefulness in the distribution and use of finances.
4. The principle of completeness, reality and transparency of financial activities.
5. The principle of financial independence of the Russian Federation, SRF and MO.
6. The principle of planning financial activities.
Forms of financial activity:
1. Legal - Financial legal acts (FLA) - mixed, normative. FPA is a financial plan that is adopted in the form of an act (budget).
2. Non-legal - organizational relations that do not take legal forms and are of a local nature (transfer of funds).
Means of financial activity:
Legal norms;
Accounting standards;
Communication and technical standards;
Operating standards.
Types of financial funds(basic):
1. In relation to the level of power:
a) State:
Regional fund.
Federal Fund.
b) State funds are transferred to municipal ownership or at the disposal of local government bodies.
2. In relation to the budget:
a) Budget funds are funds of funds organized for general needs.
INCOME -> quantitative attribute. EXPENSES -> Listing for general needs. b) Extra-budgetary funds - are created by the World Bank Fund and are of a targeted nature.
c) Decentralized (dispersed) funds - funds transferred to the operational management or economic management of state (municipal) enterprises or other economic entities.
The financial activity of any state is a process of collecting, distributing (redistributing) and using funds that ensure the practical performance of the functions of the state and local governments.
Financial activity is caused by the objective need to distribute and redistribute national income in monetary form. This is the first objective condition for the existence of financial activity.
Commodity production and the operation of the law of value objectively determined the need for the existence of money, credit, and other economic categories, which is the second condition for the existence of financial activity (see Diagram 1).
In the process of carrying out financial activities, the state solves the following three tasks in this area:
1. In accordance with the federal budget - financial plan, ensure the planned collection and distribution (redistribution) of monetary funds in accordance with the goals of the state.
2. Distribute funds in such a way as to stimulate the development of the production process.
3. The control task means the need to exercise financial control over the legality and appropriateness of the collection, distribution and use of financial resources (see Diagram 2).
Financial activities are carried out by the state using a variety of methods, the difference of which is determined by the entities with which the state enters into relations, as well as the specific conditions for the collection and distribution of monetary funds. Depending on the two sides of financial activity, methods of its implementation are divided into two groups:
1) methods of collecting funds;
2) methods of their distribution and use (see diagram 3);
Methods of collecting (mobilizing) funds of funds are divided into the following kinds:
A) tax method - used by the state to withdraw part of the income of citizens, state and non-state enterprises, organizations and institutions into the budget;
b) method of mandatory contributions (payments) legal entities and individuals to the Pension Fund, legal entities to the funds for employment, social insurance, compulsory medical insurance, etc.;
c) the state uses method of voluntary fundraising in the form of household deposits in the bank, purchase of bonds and other securities;
G) method of collecting fees and duties, that is, fees for services provided by authorized bodies (judicial, customs duties, etc.) -
d) with the help insurance method insurance funds are formed;
e) money issue - additional release of funds into circulation (see Diagram 4).
The second group - methods of distribution of funds of funds include:
A) financing - planned, targeted, gratuitous and irrevocable issuance of public funds from the budget;
b) lending - this is a planned, targeted, but repayable and compensated issuance of funds in the form of bank loans;
V) insurance compensation payments, pensions, benefits, winnings carried out from previously formed corresponding funds;
G) making payments between different entities (see diagram 5) A set of homogeneous, interconnected in forms and methods of accumulation or distribution of funds, economic relations is usually called financial institution, To which include, for example, all relations in the field of budget or all relations in the field of taxes or credit.
In turn, the totality and interrelation of all financial institutions (groups of economic relations) forms financial system (see diagram 7):
1.Public finance The budget system includes state extra-budgetary funds (social insurance, employment, compulsory health insurance, pension fund and others), state credit. -
2.Institute of Finance of Enterprises, Institutions and Organizations combines the finances of enterprises operating on a commercial basis, the finances of institutions and organizations engaged in non-profit activities, and the finances of public associations.
3.Lending Institute forms the relationship that arises between depositors and banks and other credit institutions regarding the attraction of funds, as well as the provision of bank loans.
4. In the sphere insurance relations Each of the links, represented by a special branch of insurance, is divided into types of insurance: social, personal, property, liability insurance, business risks, reinsurance.
5.Local finance. In accordance with the Federal Law “On the Financial Foundations of Local Self-Government in the Russian Federation” dated September 25, 1997, local finances include local state budget funds, municipal securities owned by local governments, and other financial resources.
Scheme 1. The concept of financial activity of the state
Scheme 2. Objectives of the financial activities of the state
Scheme 3. Methods of financial activity
Diagram 4. Methods for mobilizing funds
Scheme 5. Methods of distribution and redistribution of funds
Diagram 6. Concept of finance
Scheme 7. Financial system of the state
Methods of financial activity are focused on practical development and ensuring financial reality. Aimed at a specific result of the implementation of power in the field of finance, methods are subordinated to the solution of both the general goal and specific tasks and functions. The methods reflect the qualitative side of financial activity, as they allow us to judge the nature of intrastate relationships<1>.
<1>
Financial activity as a practical-organizing dynamic system in all its diversity of manifestations is carried out by various methods, determined by its purpose, tasks and functions. The unity of the goal of providing finance to state needs is achieved by general methods, due to the public nature and special focus of financial activity. The implementation of tasks and functions involves more specific and, in relation to general methods, special techniques and ways of achieving results. In the specialized literature, methods for the accumulation, distribution and use of financial funds and, to a lesser extent, methods for implementing individual functions have been developed to a greater extent. This is due to a narrow interpretation of the content of financial activities, procedurally or functionally reduced to the collection, distribution and expenditure of funds. Each of the functions of financial activity (planning, forecasting, regulation, coordination and control) uses its own specific methods. For example, financial control as a function of activity is mainly ensured by the methods of inspections and audits, and financial planning - by the balance sheet method and proportionality in distribution.
To achieve a single goal of financial activity, the state uses a general method of government regulations that ensures financial success for state authorities and local governments. At the same time, as Yu.A. rightly notes. Krokhina<2>, methods of recommendations and approvals are becoming more widespread, which is due to the implementation of the principle of federalism. Their peculiarity is their derivative nature from the main imperative method within the framework of the implementation of imperious commands<3>. Indeed, agreements between the subjects of financial and legal relations are possible, but regarding the more convenient, accurate, timely execution of imperative obligations, that is, it is not the nature of the obligation itself that is agreed upon, but the order, the specifics of its execution<4>.
<2>See: Krokhina Yu.A. Budget law and Russian federalism. P. 67.
<3>See: Kucheryavenko N.P. Integrity and consistency of financial law. P. 14.
<4>See: Kucheryavenko N.P. Integrity and consistency of financial law. P. 15.
In the specialized literature, when characterizing financial activities and depending on its objectives, three groups of methods are distinguished: accumulation, distribution and expenditure (use) of monetary funds<5>. Often in educational literature, distribution methods are either not highlighted, or are replaced by methods of use or are identified with them<6>. However, a system of interbudgetary and other interfund relations cannot exist without distribution techniques and methods. So, Yu.A. Krokhina draws attention to the fact that the effect of the principle of federalism in budget law makes the most significant changes to interbudgetary relations, which determines such a feature of the special method of interbudgetary regulation as the use of various forms of financial assistance to the constituent entities of the Russian Federation<7>. Without denying the possibility of distributing funds using spending methods, special distribution mechanisms in financial activities should also be highlighted.
<5>See: Karaseva M.V. Financial right. A common part. 1999. pp. 21 - 23; Zuev V.M. Financial law of the Russian Federation: theory of the general part. pp. 51 - 55.
<6>See: Gracheva E.Yu., Kufakova N.A., Pepelyaev S.G. Financial law of Russia. M.: TEIS, 1995. P. 4; Financial right. M.: BEK, 1995. P. 9, etc.
<7>Krokhina Yu.A. Budget law and Russian federalism. P. 68.
The solution to the problem of accumulating funds in certain funds is achieved by attracting mandatory and voluntary payments, as well as by methods of economic activity. The system of mandatory payments is dominated by the tax method, through which the basis of all Russian budgets and state extra-budgetary funds is formed. Along with the tax method, which includes taxes, fees, duties established by tax legislation as obligatory taxes (duties), the method of compulsory non-tax payments is the withdrawal of fees, duties and other mandatory collections not provided for by tax legislation. These include patent fees, fees for technical inspection of vehicles, for participation in competitions and auctions, registration and issuance of documents, and provision of services.
Methods of voluntarily raising funds for the needs of state and municipal funds are presented in special non-coercive ways. These are various forms of state and municipal loans, voluntary state insurance, as well as donations, charity in the form of contributions from legal entities and individuals on a voluntary basis.
Methods for mobilizing income from business activities are still in their infancy. Various methods of alienation, transfer for use or lease and other use of state or municipal property do not give the desired effect. The Budget Code of the Russian Federation (Article 42) provides a non-final list of such income and other methods of withdrawal are possible. Unfortunately, the Code practically does not address the problem of determining the mode of use for non-tax revenues in the interests of replenishing budgets<8>.
<8>Gorbunova O.N., Selyukov A.D., Drugova Yu.A. Budgetary law of Russia. P. 46.
Methods of distribution in financial activities include techniques and methods for regulating income in interbudgetary and other interfund relations. The main method is the transfer of the federal or regional budget's own revenues to budgets of other levels according to the standards established by the laws on the corresponding budget for the next financial year and for a period of at least three years. The normative distribution is also established by the Federal Law “On the financial foundations of local self-government in the Russian Federation” (Article 7). Revenues from local budgets can be transferred to budgets of other levels at rates (standards) determined by legal acts of local government.
Auxiliary methods of distribution in the budgetary sphere are various forms of financial assistance. These are subsidies to equalize the level of minimum budgetary provision in the constituent entities of the Federation and municipalities. The transfer of funds to equalize the minimum budgetary provision from special funds for financial support of regions or municipalities is usually called transfers or regulatory share subsidies. Further, these are subventions and subsidies to finance certain targeted expenses. Finally, financial assistance includes budget credits and loans (Article 133 of the Budget Code of the Russian Federation). Distribution methods are also typical for state extra-budgetary funds. So, according to Art. 91 of the Federal Law “On the Federal Budget for 2003” establishes a maximum volume of subventions to the budget of the Pension Fund of the Russian Federation. Equalization of financial conditions for the activities of territorial compulsory health insurance funds is also carried out by providing subventions.
For spending state and municipal funds, the main methods are financing and lending to specific needs from own or managed funds. In contrast to distribution methods and methods, the use of cash receipts is carried out in a planned manner for the needs specified in the financial plan of a certain fund of funds. The specificity of the fund or indication of the source of financing and lending is mandatory. Thus, financing as a method of spending funds is a gratuitous and irrevocable release of funds for a specific purpose in accordance with the expenditure part of the financial plan of a certain fund. Lending as a method of spending in financial activities is a paid and returnable release of funds for specific periods and for established purposes. A type of lending is an interest-free loan as a return release of funds for a specific purpose and on a planned basis, but on a free basis.
One of the directions, especially for municipal lending in the new conditions, may be the development of mutual credit among municipalities. It is emerging as one of the most important techniques and methods that allow pooling financial resources both within individual municipalities and intermunicipal funds. Mutual lending provides a direct opportunity to reduce bureaucratic oversight, promotes the unification of municipalities and is beneficial in the sense that the net profit goes to the borrowers themselves. In addition to financing and lending, other additional techniques and methods are used in the field of financial activities. In particular, for insurance activities - payment of insurance compensation, for the securities market - payment of dividends to owners of securities, in case of compensation for damage - compensation payments and some others.
In the process of carrying out certain functions of financial activity, special methods of their implementation are used. Own techniques and methods are characteristic of each function; they depend on the peculiarities in solving individual problems of financial activity, on the specifics of their implementation at different levels of Russian financial federalism.
Financial planning as a function that covers budget, tax, credit, monetary and currency planning is carried out primarily through a systematic method of its implementation. Systematic planning methodology is necessary to link all financial plans in solving a common goal and individual tasks of financial activity. Proportionality, balance of financial activities and coordination of its tasks and functions are achieved through the methods of balance and proportions. The balance sheet method allows, by applying the necessary calculations, to verify the reality and balance of the plan. Finally, to strengthen the planned circulation of funds and calculation discipline in financial planning, a calculation method is needed. The calculation method in planning makes it possible to determine the estimated profit, profitability, production costs, estimated prices for the sale of goods, works, services, and the estimated balance in relations with foreign countries.
Methods for implementing the forecasting function are directly related to long-term financial planning, but at the same time they have their own techniques and methods. For forecasting, in-depth analysis and a high degree of generalization of financial results, scientific prediction of the events expected according to the forecast are important. Next, it is necessary to take into account the positive and negative aspects of financial legislation and its impact on trends in socio-economic development, as well as the tactics and strategy of financial policy. Finally, a series of analytical assessments and calculations follows to obtain information about the future development of certain aspects of the financial mechanism in market conditions.
Methods of financial regulation are widely varied and are aimed at streamlining certain actions in the financial sector, creating a certain order and strengthening financial discipline. Being derived from methods of legal regulation, methods of financial regulation are individualized by type of financial activity, its tasks and functions and the bodies that carry them out. Methods of budget regulation are designed to create conditions for the organization of the Russian budget system and interbudgetary relations in it. They include techniques and methods for equalizing the levels of minimum budgetary provision, balancing all budgets, and limiting their deficits. In their manifestation, they represent a normative establishment of the conditions for the use of financial assistance, rules governing the budget deficit, the formation of own income, etc.
Methods of tax regulation are aimed at meeting the financial needs of the state treasury and are of a fiscal and economic nature. Tax methods should not be reduced only to methods of withdrawing tax payments. The regulatory function of the tax system is mainly implemented through the system of establishing tax benefits, preferences, deductions, credits and through a system of tax sanctions. The Bank of Russia, being a currency regulation body, determines the scope and procedure for the circulation of foreign currency and securities in foreign currency in Russia. The Bank of Russia establishes rules for residents and non-residents to conduct transactions with foreign currency and securities in foreign currency, as well as rules for non-residents to conduct transactions with Russian currency<9>. Foreign exchange regulation uses methods of regulatory support, establishing rules, issuing permits, limiting foreign exchange transactions, licensing, accounting, reporting and statistical analysis. In order to regulate the foreign exchange market, a limit is set for the deviation of the exchange rate for the purchase of foreign currency from the rate for its sale. Methods of financial regulation of the securities market include: a) establishing mandatory requirements for issuers and professional participants in the securities market; b) registration of issues and prospectuses; c) licensing the activities of market participants.
<9>Directive of the Bank of Russia dated September 10, 2001 N 1030-U established a notification procedure for conducting currency transactions related to the receipt by resident legal entities of loans and borrowings in foreign currency for a period of more than 180 days.
Coordination as a function of financial activity, predetermining the general direction, on the one hand, is a method of financial regulation, but at the same time it carries an independent burden. For example, for the purpose of financial recovery, the Government of the Russian Federation coordinates the activities of representatives from federal executive authorities and representatives of state extra-budgetary funds as creditors for monetary obligations and mandatory payments<10>. The methodology for coordinating financial activities is varied and depends on the bodies implementing it, the scope of influence and functional purpose. Coordination of financial control by various systems of control bodies is achieved through the creation of a unified information base, coordination of efforts, and methodological guidelines. Unfortunately, there is no single coordinating body in this area yet.
<10>Collection of legislation of the Russian Federation. 2002. N 43. Art. 4190.
Financial control as a function of financial activities is carried out by its own methods. These include a set of techniques and methods for achieving the results of control actions and responding to identified deficiencies. The variety of types, organizational structures and the diversity of financial control targets give rise to a variety of its methods. In general terms, detection methods can be presented as observation, audits, checks, surveys, inspections, inventory, reporting, information analysis and others. And methods of responding to the results of control actions are techniques and methods of a compulsory or incentive nature. These include restoration of violated rights, initiation of prosecution, compensation for harm, application of sanctions, offers of incentives.
Thus, the financial policy of the transition period to market relations predetermined the growing importance of financial activity methods for the further economic development of the Russian Federation. These methods are filled with new content and are subject to change, just like financial legislation itself. Distinguished by their diversity, the methods of financial activity are directly dependent on the object of influence, the characteristics of the organizational and legal status of the subject of their implementation, the goals, objectives and functions of the activity itself.
Collection methods(mobilization) of funds:
Tax (used by the state to withdraw part of the income to the budget);
Mandatory contributions (payments) to various funds;
Voluntary attraction of funds (in the form of bank deposits, purchase of bonds and other securities, state and municipal loans, lotteries, charitable donations);
Collection of fees and duties (that is, fees for services provided by authorized bodies);
Insurance (formation of insurance funds);
Issues of money (additional release of funds into circulation).
Distribution methods cash funds:
Financing (planned, targeted, gratuitous and irrevocable issuance of public funds from the budget);
Lending (this is a planned, targeted, but repayable and compensated issuance of funds in the form of bank loans);
Payments of insurance compensations, pensions, benefits, winnings made from previously formed corresponding funds.
4. Financial system, its structure and development at the present stage.
Finance, while generally possessing general specific properties, has its own internal structure.
The financial system in the economic aspect is an objectively determined internal structure of finance, expressed in the totality of its interconnected links (institutions), each of which represents a specific group of financial relations.
The material expression of the links (institutions) of the financial system is made up of monetary funds corresponding to their specifics - budgetary, extra-budgetary, etc.
The financial system of the Russian Federation includes:
- budget system, consisting of state (federal budget and budgets of the constituent entities of the Federation) and local budgets of municipalities;
- extra-budgetary target state and municipal (local) monetary funds;
- finances of enterprises, organizations, institutions;
Insurance Finance;
Credit (state, municipal and bank).
1 The central place in the financial system of the Russian Federation is occupied by the budget system, through which monetary funds are formed in the form of the federal budget, budgets of the constituent entities of the Russian Federation and municipalities. They are necessary for the implementation of national or territorial socio-economic plans and programs, ensuring the defense and security of the country. At the same time, they serve as the financial basis for the independence of the constituent entities of the Russian Federation and the development of local self-government. Funds from the budget system are generated mainly from taxes.
2 .Extrabudgetary target state and municipal funds are a new link in the financial system of the Russian Federation. They are created by the relevant representative or executive bodies of state power and local self-government. Their funds must be directed to specific purposes in accordance with their purpose. These include, in particular, such state social funds as the Pension Fund, the State Social Insurance Fund, the Federal and territorial compulsory health insurance funds, formed in accordance with the requirements of the law, funds created on the basis of acts of the Government of the Russian Federation and other bodies.
3. Finance of enterprises, organizations, institutions - separate monetary funds at the disposal of these entities, used by them to perform their functions and tasks. Modern conditions are characterized by a variety of forms of ownership on the basis of which this part of the financial system operates. It distinguishes two subgroups: finance of commercial and finance of non-profit organizations. Commercial organizations are enterprises whose finances are used to support their own production and social activities. Their main goal is to make a profit (Article 50 of the Civil Code of the Russian Federation). Budgetary organizations do not have such a goal, although based on the legislation of recent years they have the right to engage in entrepreneurial and other activities to generate additional income in order to more fully fulfill their functions (Article 161 of the Budget Code of the Russian Federation).
4.
Property and personal insurance ensures the formation of insurance funds used to compensate for material damage caused to individuals and legal entities by natural disasters, accidents and other unfavorable events. The funds of such funds are formed mainly from contributions from legal entities and individuals who have entered into insurance relations.
forms of insurance:
a) property and personal;
b) social;
c) medical.
According to the methods of implementation, they can be mandatory or voluntary. With the transition to a market economy, insurance ceased to be a state monopoly. Along with state ones, non-state insurance organizations operate in this area as entrepreneurial ones, being under the supervision of the state.
5. A loan is expressed in attracting free funds from various entities, accumulating them into monetary funds and providing them to other entities for temporary use on a reimbursable and urgent basis. The loan is provided to the borrower not only from borrowed funds, but also from the lender’s own funds. State credit refers primarily to the relationships through which public debt is formed (Chapter 14 of the Budget Code of the Russian Federation). These are relations regarding the temporary use of funds of legal entities and individuals by the state (municipalities) when there is insufficient state (budget) revenue to carry out planned expenses.
Public debt can be internal (the procedure for the formation and repayment of which is regulated by the legislation of the Russian Federation) and external, regulated by international treaties and agreements of the Russian Federation. State and municipal debt can be used to cover budget deficits.
At the same time, the state can provide funds from the budget for temporary use (on credit) to various entities for the purpose of financial support, development of economic relationships, etc. (Article 6 of the Budget Code of the Russian Federation). This form of loan should also be considered a government loan. However, the state in these cases acts as a creditor. Municipal credit is also provided in the forms considered.
A bank loan is a relationship where banks provide funds to individuals and legal entities for production, social and other needs on the basis of an agreement for temporary use on the terms of remuneration (payment), urgency and financial security of the debt. At the same time, banks use as credit resources mainly the temporarily free funds of legal entities and individuals stored on accounts opened with them, and in certain cases - budgetary and other resources.