Legal encyclopedia. The letter Φ

FINANCIAL SYSTEM

- financial activities of the state, related to the formation, distribution and use of funds of funds.

Funds of state funds are divided into centralized and decentralized finances.

Finance arising from the creation and use of certain funds of money, are different from each other, but have some common features that allow them to be combined into separate, detached subsystems.

Each subsystem is formed by a set of economic groups (financial relations), allotted according to a certain feature. All subsystems form a single FS, which includes 2 subsystems:

1) a set of financial institutions, each of which represents a group of homogeneous economic relations, interconnected by the forms of accumulation or distribution of funds;

2) the totality of state bodies and institutions that carry out direct financial work.

FS of the Russian Federation represent the following funds:

1) the budgetary system, which includes the federal budget, budgets of the constituent entities of the Russian Federation and budgets of local self-government bodies;

2) state non-budgetary funds, through which the state's policy for the implementation of compulsory social insurance is implemented, which is part of the system of social protection of citizens. The funds of state off-budget funds are in federal ownership and are not included in the budgets of any levels. Contributions to these funds are attributed to federal taxes and fees;

3) funds consolidated in the budget, - specialized funds accumulated in budgets of various levels. The creation of funds is possible at the federal level, at the level of the constituent entities of the Russian Federation and local self-government. The fund is formed as part of the budget at the expense of special purpose income or in the order of special deductions from specific types of income;

4) extrabudgetary decentralized funds: sectoral and interbranch extra-budgetary funds and finances of state and municipal organizations and enterprises;

5) insurance funds;

6) state and bank credit;

7) finance of economic entities: finance of commercial enterprises and organizations and finances of non-profit organizations.

FS can also be represented as a collection of three links:

1) public finances that unite the federal budget, the budget of the constituent entities of the Russian Federation, the funds of the Bank of Russia and

Other;

2) local finance covering local budgets, municipal extra-budgetary funds, funds of municipal banks, etc .;

3) private finances - funds of legal entities and other organizations based on the right of private ownership, and monetary funds of individuals.

FS is considered as a collection:

1) finance of enterprises, institutions and organizations;

2) insurance;

3) lending;

4) public finances.