Parliamentarians supported changes to laws on the implementation of the budget process in the Republic of Crimea

The adoption of normative acts took place within the framework of today’s meeting of the fourth session of the State Council of the Republic of Crimea.

As the Deputy Prime Minister said, the prepared changes are related to the amendments to the Budget Code of the Russian Federation adopted in November last year and, in accordance with the established procedure, were agreed upon with the State Legal Department of the President of the Russian Federation.

Regarding changes to the Law of the Republic of Crimea “On the budget process in the Republic of Crimea,” the chief financier of Crimea explained that now Article 21 of the law is supplemented with a provision establishing cases of accounting for transactions with funds of participants in treasury support on personal accounts opened by them in the Federal Treasury, namely: if funds provided from the republican budget are subject to treasury support in accordance with either federal laws or decisions of the Government of the Russian Federation, either by the law of the Republic of Crimea on the republican budget, or by a decision of the Council of Ministers of the Republic of Crimea.

Regarding changes to the Law of the Republic of Crimea “On interbudgetary relations in the Republic of Crimea,” the deputy chairman noted that the changes being made to part 2 of Article 8 of the law provide that the distribution of subsidies to local budgets from the budget of the republic, the source of financial support of which is, including budget loans received from the federal budget, is approved by the law of the Republic of Crimea on the budget of the Republic of Crimea for the next financial year and planning period and (or) adopted in accordance with with it by acts of the Council of Ministers of the Republic of Crimea.

The presented legislative initiatives are aimed at bringing regional budget legislation into compliance with the updated norms of the Budget Code of the Russian Federation. The key innovations were the clarification of the procedure for treasury support of funds from the republican budget, as well as the consolidation of the mechanism for distributing subsidies to local budgets, the source of which is federal budget loans. The proposals of the Ministry of Finance of Crimea passed the necessary approval procedure and were unanimously supported by parliamentarians in two readings, which will ensure the uninterrupted and transparent budget process in the region for the next financial year and planning period,” Irina Kiviko commented following the meeting of the State Council of the Republic of Crimea.

source: according to the press service of the Ministry of Finance of the Republic of Crimea