USE OF BUDGET FUNDS BY RUSSIAN ECONOMIC ENTITIES: ANALYSIS AND MONITORING CRITERIA

Аннотация

Efficient utilization of the budget funds provided by the government for development is ensured by
applying the result-driven program-based method of planning or budgeting. This method enables rational distribution
of the available country’s resources for solution of medium- and long-term problems related to economic, social, and
environmental development in order to makes the most of the investments by implementing designated programs.
Efficient use of budgetary funds is a successful tool of national development.
A number of designated national, federal, and departmental programs have been implemented at the federal
level of the Russian Federation. A targeted federal investment program has been in operation.
Despite the number of the development programs, the federal designated programs are prioritized and take a
central position in the general structure of the implemented programs. Their priority is defined by focusing on
development of an integrated and comprehensive approach for elaboration of measures aimed at meeting the
objectives and integration of the activities of universities, scientific organizations, and economic entities of the
economic development sector.
The field of small and medium-sized entrepreneurship (SMSE) is prioritized upon implementing federal,
national, and departmental designated programs. The Russian Federation field of small and medium-sized
entrepreneurship is represented by legal entities and individual entrepreneurs grouped into three categories – micro,
small, and medium.
Implementation of the national development programs facilitates increase of the financial standing level of the
economic entity, which implements such programs. On the other hand, financial standing is an economic-activity
indicator of the economic entities pertaining to various business areas as the financial standing level is representative
of the financial resource capacity required for smooth operation and reasonable allocation of resources, as well as of
the efficiency of resources utilization by an economic entity.