Abstract on the topic: “Federal Treasury, its functions. Rights and obligations of tax authorities."

1.Federal Treasury, its functions……………………………………..3

2. Rights and obligations of tax authorities……………………………………..9

List of references………………………………………………………...13

1. Federal Treasury, its functions.

The system of federal treasury bodies is a single centralized system, built on the principle of a multi-level and hierarchical organization, where each level (federal, regional and local) has its own tasks, functions and specifics.

The federal level includes:

Ministry of Finance of the Russian Federation. It is the governing body of the entire treasury system and all lower territorial treasury bodies are subordinate to it.

Structure of the federal treasury bodies

The regional level includes territorial departments of the federal treasury, which are part of the Russian Federation republics, regions, territories, cities of Moscow and St. Petersburg.

Local level covers branches of the federal treasury of cities of republican, regional, regional subordination, rural areas, districts in cities of republican, regional and regional subordination (with the exception of cities of regional subordination).

Treasury bodies have the status of an independent federal service, are legal entities, have independent cost estimates and current accounts in bank institutions to perform economic functions and a seal with their name. The Treasury reports to the Minister of Finance of the Russian Federation.

Territorial treasury bodies are subordinate to a higher body and the head of the treasury - the head of the Main Directorate of the Federal Treasury of the Ministry of Finance of the Russian Federation, who has the rank of deputy minister.

The main tasks of the treasury authorities are the following:

Organization, implementation and control over the execution of the federal budget, management of its income and expenses in treasury accounts in banks, based on the principle of unity of cash;

- regulation of financial relations between the federal budget and state extra-budgetary funds, the financial execution of these funds, control over the receipt and use of extra-budgetary (federal) funds;

- implementation of short-term forecasting volumes of government financial resources, operational management of these resources within the limits established for the corresponding period of government spending;

Collection, processing, analysis of information on the state of public finances, presentation to the highest legislative and representative bodies of state power and administration of the Russian Federation of reports on government operations on the federal budget;

Management and service together with the Central Bank of the Russian Federation and other authorized banks of the state internal and external debt of the Russian Federation;

development of methodological and instructional materials, procedures for conducting accounting operations on issues within the competence of the treasury, maintaining records of the state treasury of the Russian Federation.

In accordance with its assigned tasks, the treasury performs many different functions. All functions performed by the treasury are considered in the context of its hierarchical structure. This is due to the fact that the functions of the federal, regional and local levels of the treasury system are different and have their own specifics.

The peculiarity of the functions assigned to the Main Directorate is determined by the fact that it manages the work of all treasury bodies and organizes through them the budgetary and financial execution of the federal budget and extra-budgetary funds, and also carries out other functions.

According to this Main Directorate of the Federal Treasury :

prepares draft legislative and other regulations, develops and approves methodological and instructional materials, establishes the procedure for maintaining records and reporting on issues within the competence of the treasury.

As the central body of the treasury, the Main Directorate receives, summarizes and analyzes reports from territorial treasury bodies on the work done and submits reports to the highest bodies of state power and administration on the results of the execution of the federal budget and the state of the budget system of Russia.

In order to improve the organization of execution and control over the execution of the federal budget, the Main Directorate actively interacts in its work with the Central Bank, the State Tax Service of the Russian Federation and other central bodies of state power and administration. In particular, together with the Central Bank, it takes part in the development and implementation of an agreed monetary policy, ensures the management and servicing of the state internal and external debt of Russia, and places centralized financial resources on a repayable and paid basis.

From many functions carried out by the Main Directorate is necessary especially note the following: management of income and expenses of the federal budget and other centralized financial resources under the jurisdiction of the Government, management of funds listed in the relevant bank accounts (except for funds of federal extra-budgetary funds and extra-budgetary funds), and also carries out operations with these funds.

The specificity of the functions assigned to the territorial departments of the federal treasury is determined by the fact that they are an intermediate link in the treasury system. On the one hand, territorial departments organize the work of the branches of the federal treasury subordinate to them at the local level and perform some functions characteristic of the Main Directorate, and on the other hand, they themselves are subordinate to the Main Directorate and perform some basic functions for the direct execution and control over the execution of the federal budget assigned to territorial branches of the federal treasury.

Territorial treasury bodies in the respective territories carry out the budgetary and financial execution of the federal budget and the financial execution of federal extra-budgetary funds.

When executing the federal budget by revenue, treasury authorities at the regional and local levels also perform a large group of functions:

Lead accounting of funds income received by the federal budget by type taxes and other payments according to the classification of budget revenues of the Russian Federation;

Carry out distribution in prescribed sizes taxes and other payments between the federal budget, budgets of the constituent entities of the Federation and local budgets;

Provided upon submission of state tax inspectorates, based on the conclusions of Form 21, refund of overpaid and collected taxes and other payments;

- process, summarize and analyze all the information about incoming revenues to the federal budget;

Based on the data obtained on the state of financial resources and budget execution make short-term forecasts volumes of revenues to the federal budget;

When executing the budget for expenditures, the treasury authorities conduct consolidated registers of managers budget funds, which reflect all the necessary information about the financed enterprises, institutions, organizations: legal addresses, telephone numbers of their managers, numbers of current and budget accounts, their purpose and much more.

Accounting for allocations for open financing is kept on separate personal accounts for each loan manager, main section, subsection, type of expense and target items of economic classification.

Territorial treasury bodies carry out operations with funds from the federal budget, federal extra-budgetary funds and finance expenses from treasury accounts in bank institutions. They inform recipients of federal budget funds of funding limits. And about take care in accordance with information communicated to them by the Main Directorate of the Federal Treasury established amounts of appropriations, targeted financing of enterprises, institutions, organizations. And carry out constant daily analysis of the execution of the federal budget in terms of expenditures.

Another important function of territorial treasury bodies is the implementation short-term forecasting and cash planning of federal budget expenditures for the relevant territories. Thus, they carry out forecasting and planning for the near future, the amount of expenses for financing individual federal target programs. For example, for payment of compensation and providing benefits to persons affected by radioactive impacts during the liquidation of the consequences of the accident at the Chernobyl nuclear power plant, the accident at the Mayak production facility and the discharge of radioactive waste into the Techa River, tests at the Semipalatinsk test site, making calculations based on information about benefits, compensation and the number of persons with this right.

Together with authorized banks, territorial treasury authorities carry out management and servicing of the public debt of the Russian Federation. Supervise issues related to government loans, treasury bonds and other securities. And they carry out the instructions of the higher treasury body to finance Russia’s internal debt.

Along with the execution of the federal budget in terms of income and expenditure, territorial treasury bodies perform control functions. This primarily determines the importance of the treasury as a financial control body.

The Treasury places the main emphasis in its activities on current control over the targeted use of funds allocated to enterprises, institutions, organizations on a repayable and non-refundable basis from the federal budget. In particular, territorial treasury bodies analyze reports on the execution of expenditures, which are submitted to them monthly by all budgetary institutions and organizations; check the veracity of the information reflected in them, comparing the total amounts of the reports with bank statements for the accounts of these institutions and organizations, and also conduct various checks with direct access to the site. The range of checks is very wide, it includes:

Checks on the facts of placement of budget funds in deposit accounts;

Checking the timeliness and completeness of payment of wages, scholarships and other monetary payments to employees of these institutions and organizations;

Verification of the intended use of funds allocated to finance public capital investments;

Checks for the intended use of short-term financial support funds allocated from the federal budget to enterprises and other checks.

In order to increase the efficiency of crediting income to budget accounts and budget funds to the accounts of recipients, treasury authorities are entrusted with the functions of monitoring the timeliness of banks’ transactions with budget funds . They check the timeliness of banks' execution of payment orders for the transfer of taxes and other payments to the federal budget and the crediting of budget funds to recipients' accounts. They may also conduct other checks on written instructions from a higher treasury authority.

When conducting inspections, territorial treasury bodies may, if violations are detected, seize all related documentation. And if you fail to provide or refuse to present the necessary accounting and financial documentation, the treasury authorities may suspend operations on the accounts of these institutions and organizations. In addition, the treasury authorities, in necessary cases, carry out indisputable recovery from institutions and organizations of funds used by them for other purposes and impose fines in the amount that was in effect at the time of the violation, the discount rate of the Central Bank. They also apply penalties to banks for late transactions with federal budget funds.

If violations for which criminal liability is provided are detected, the treasury authorities transfer all materials on them to law enforcement agencies and, if necessary, file claims in court or arbitration court.

In the process of executing the federal budget and monitoring its execution, territorial treasury bodies submit to their superior body full operational and periodic reporting on the work done; actively interact with audit, tax and financial authorities.

Thus, from all of the above we can conclude that the treasury is entrusted with a large number of functions. And that as its territorial bodies develop and they master all these functions in full, it will play an increasingly important role in maintaining the stability of the budget system and the Russian economy as a whole.

2. Rights and obligations of tax authorities.

In accordance with the Tax Code of the Russian Federation, the Inspectorate of the Ministry of Taxes and Duties is the tax authority of the Russian Federation. According to Article 31 of the Tax Code of the Russian Federation, the Internal Revenue Service is vested with the following rights:

1) require from the taxpayer or tax agent documents in the forms established by state bodies and local governments, which serve as the basis for the calculation and payment (withholding and transfer) of taxes, as well as explanations and documents confirming the correctness of calculation and timely payment (withholding and transfer) taxes;

2) conduct tax audits in the manner established by the Tax Code of the Russian Federation;

3) to seize documents during tax audits from a taxpayer or tax agent that indicate the commission of tax offenses, in cases where there are reasonable grounds to believe that these documents will be destroyed, hidden, altered or replaced;

4) to summon, on the basis of a written notification to the tax authorities, taxpayers, fee payers or tax agents to give explanations in connection with their payment (withholding and transfer) of taxes or in connection with a tax audit, as well as in other cases related to their implementation of legislation on taxes and fees;

5) suspend transactions on the accounts of taxpayers, fee payers and tax agents in banks and seize the property of taxpayers, fee payers and tax agents in the manner prescribed by the Tax Code of the Russian Federation;

6) inspect (survey) any production, warehouse, retail and other premises and territories used by the taxpayer to generate income or related to the maintenance of taxable objects, regardless of their location, and conduct an inventory of property owned by the taxpayer. The procedure for conducting an inventory of a taxpayer's property during a tax audit is approved by the Ministry of Finance of the Russian Federation and the Ministry of the Russian Federation for Taxes and Duties;

7) determine the amount of taxes to be paid by taxpayers to the budget (extra-budgetary funds), by calculation based on the information they have about the taxpayer, as well as information about other similar taxpayers in cases of the taxpayer’s refusal to allow officials of the tax authority to inspect (survey) production facilities, warehouse, trading and other premises and territories used by the taxpayer to generate income or related to the maintenance of taxable objects, failure to submit to the tax authority for more than two months the documents necessary for calculating taxes, lack of accounting for income and expenses, accounting for taxable objects or keeping records in violation of the established a procedure that led to the impossibility of calculating taxes;

8) demand from taxpayers, tax agents, and their representatives to eliminate identified violations of the legislation on taxes and fees and monitor compliance with these requirements;

9) collect arrears of taxes and fees, as well as collect penalties in the manner established by the Tax Code of the Russian Federation;

10) control the compliance of large expenses of individuals with their income;

11) demand from banks documents confirming the execution of payment orders of taxpayers, fee payers and tax agents and collection orders (orders) of tax authorities to write off taxes and penalties from the accounts of taxpayers, fee payers and tax agents;

12) attract specialists, experts and translators to conduct tax control;

13) call as witnesses persons who may be aware of any circumstances relevant to the conduct of tax control;

14) submit petitions for cancellation or suspension of licenses issued to legal entities and individuals for the right to carry out certain types of activities;

15) create tax posts in the manner established by the Tax Code of the Russian Federation;

16) bring claims to courts of general jurisdiction or arbitration courts:

On the collection of tax sanctions from persons who committed violations

legislation on taxes and fees;

On invalidating the state registration of a legal entity or the state registration of an individual as an individual entrepreneur;

On the liquidation of an organization of any organizational and legal form on the grounds established by the legislation of the Russian Federation;

On early termination of a tax credit agreement and an investment tax credit agreement;

On the collection of debts on taxes, fees, corresponding penalties and fines to budgets (extra-budgetary funds), which are owed for more than three months by organizations that, in accordance with the civil legislation of the Russian Federation, are dependent (subsidiary) companies (enterprises), from the corresponding main (prevailing, participating) ) companies (partnerships, enterprises), when the latter’s bank accounts receive proceeds for the goods (work, services) sold by dependent (subsidiary) companies (enterprises), as well as for organizations that, in accordance with the civil legislation of the Russian Federation, are the main (prevailing, participating) companies (partnerships, enterprises), from dependent (subsidiary) companies (enterprises), when their bank accounts receive proceeds for goods sold (work, services) of the main (predominant, participating) companies (partnerships, enterprises).

In accordance with Article 32 of the Tax Code of the Russian Federation, the Tax Inspectorate as a tax authority is obliged to:

1) comply with the legislation on taxes and fees;

2) monitor compliance with the legislation on taxes and fees, as well as regulatory legal acts adopted in accordance with it;

3) keep records of taxpayers in accordance with the established procedure;

4) carry out explanatory work on the application of legislation on taxes and fees, as well as normative legal acts adopted in accordance with it, inform taxpayers free of charge about current taxes and fees, present established reporting forms and explain the procedure for filling them out, give explanations on the procedure for calculation and payment taxes and fees;

5) carry out a refund or offset of overpaid or overcharged amounts of taxes, penalties and fines in the manner prescribed by the Tax Code of the Russian Federation;

6) maintain tax secrecy;

7) send to the taxpayer or tax agent copies of the tax audit report and the decision of the tax authority, as well as in cases provided for by the Tax Code of the Russian Federation, a tax notice and a requirement to pay taxes and fees.

Bibliography.

1.Krasavina L.N. Financial and monetary system. -M.: Finance, 2006.

2. On the receipt of state taxes and other obligatory payments to the budget, to extra-budgetary funds and on arrears in payments to the budget for January 2007. State Tax Service of Russia.

3.Taxes: federal and local // Financial newspaper. 2007 No. 12.

4.New tax code. Cost price is canceled // Kommersant. 2007

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Modern treasury is called upon to perform much more functions than just control of payments, therefore, conditionally, all treasury functions can be divided into two groups: planning and control, optimization of processes and procedures.

Planning and control

The basic functions of any treasury are short-term cash flow planning, formation of a payment calendar, maintaining the solvency of the company and preventing cash gaps.

A more advanced task is monitoring payments for compliance with the budget. In its simplest form it is implemented like this. If the payment application is in the payment register and its amount does not exceed the balance under the corresponding cash flow budget item (CFB), then the document is sent for execution. If the answer is “no” to at least one of these two points, it is additionally agreed with the management.

It is more difficult when information about the limits on the BDS is clearly insufficient and an additional check is needed on the budget of income and expenses (BDR). In this case, a positive decision is often made regardless of whether the amount is higher than planned in the BDDS. For example, the company offered to pay three months' rent in advance with a 20 percent discount. Here, control over the BDDS does not make sense, because this budget may include a monthly payment (while the free balance is enough for a three-month rent payment). And a check on the BDR (taking into account the spread of the amount over three months in equal parts) will give the green light to such a proposal. And the company will ultimately benefit in profit.

Treasury management is just beginning with planning and control of payments. The next stage is checking the implementation of corporate procedures.

The payment of money is a unique event in business activity to which various controls can be attached. Not only the counterparty, but also the payment initiator is interested in the prompt transfer of funds. For the latter, this means delivering goods on time or starting work on a project on time. Consequently, the moment of processing the application may well serve as a control point, for example, in terms of risk management. Of course, this is not directly the responsibility of the Treasury. But since the implementation of most management decisions requires money, the payment calendar will serve as a “check post” for them.

It is enough to highlight key risks, determine how decisions should be made on them, project them onto the payment calendar and not miss payments without the necessary approvals.

You can also add to the list of treasury functions such components of risk management inherent in this division as property insurance, hedging open currency positions and control over the effective use of enterprise capital.

Further development of treasury control functions - corporate obligations. In the short term, companies are often limited in managing most of their expenses. Agreements with suppliers and contractors have already been concluded, plus there are mandatory payments such as wages, rent, taxes, etc. Ideally, the treasury (or, alternatively, the department) should receive information about all future (real and possible) expenses under all contracts. And if we spread this total volume of obligations over time, the company’s payment schedule will be almost ready.

Almost every payment request should be tied to a specific agreement (of course, an exception can be made for small expenses). No valid document – ​​no payment. If such a rule is established, then the application is checked by the treasury not only for compliance with the budget, but also with the contract (it is actually concluded, it specifies exactly such obligations, the amount does not differ from the contractual one, the terms of payment are the same). This is a simple requirement, but in practice sometimes there is a need to pay under an agreement that has not yet been signed by both parties.

That. The treasury has one more area for control - the fulfillment of obligations by the company itself and its business partners, for example, on a loan and suppliers.

In order to prevent delays and make the treasury system effective for management, you can introduce certain benchmarks, for example, “percentage of overdue accounts payable for raw materials” and assign it as a KPI to the treasury (standard - 0%).

When transferring additional functions to the treasury, do not forget that the main tasks of this department are to provide the company with financial resources, as well as to correctly and timely execute payments that fall within the budget. Therefore, the effectiveness of measures to expand the responsibilities of the treasury needs to be carefully assessed. After all, with an irrational approach, you can harm existing processes and increase the company’s costs.

It seems that not the most important function from a management point of view, but no less important, is monitoring the correctness of data for accounting (tax) accounting purposes. This means checking the application for the correctness of filling in the details of the counterparty, the agreement, and the availability of payment documents. And this can also be done in the treasury.

Optimization of payment processes and procedures

The first of the tasks of the second block of treasury functions is to optimize the flow of funds, as well as their balances by sources of financing and currency of payment in order to reduce the cost of attracted capital and maximize income from the placement of temporarily free money. For a group of companies, solving this problem is significantly simplified if a centralized treasury is created. Moreover, it is not necessary to transfer all subsidiaries to one bank and to a single current account; it is enough to have access to their accounts (Cash management). Just be careful when using such a tool as Cash management and think through the schemes of commodity-cash flows and inter-business connections in advance. In addition, a centralized treasury will help geographically distributed companies increase their cash turnover. It's all about time zones. First, you pay the bills of the Far Eastern bank, at the end of the operating day, transfer the balance to Moscow and pay their bills. In the capital, you can use money all day and transfer it back in the evening.

In holding companies, the treasury often plays the role of an internal cash settlement center, practically a bank. It redistributes money between projects (businesses) and is responsible for intra-corporate lending. And here a new task arises - the correct calculation of the profitability of projects (businesses) taking into account the internal value of money. The results of these calculations will be needed when optimizing your business portfolio.

A separate task for the treasury is to optimize the collateral mass and increase the company’s creditworthiness. After all, many manufacturing and trading companies cannot agree with banks on a new loan for one reason - there is no high-quality and sufficient collateral. In this situation, the treasury can be charged with managing the collateral: when and which of them and under which loan will be opened, when it will be released and will become available for a new loan agreement. The expected result is an increase in collateral turnover. In addition, depending on the composition and liquidity of the latter, the interest rate on bank loans may change.

The main function of the treasury- This is cash flow management. You need to collect money, credit it to the company’s accounts and make payment. Everything else is components that help complete the assigned tasks. In some companies, treasury includes corporate finance, in others it is two different departments.

Improving the quality of management accounting and reporting – treasury can also help with this. In management accounting, as a rule, closing periods are much shorter than in accounting. It is necessary to complete the period long before the primary base and reporting under RAS are completely ready. And it doesn’t matter what transformation method is used (translation from documents or conversion of account turnover), in any case, in management accounting, the requirements for efficiency and depth of analytics are much higher than in accounting.

But all management analytics regarding money are already included in applications for payment of funds. Therefore, when a bank statement is received, each payment can be associated with the application that generated it and all management analytics can be automatically picked up from the latter. Since bank statements are entered into the accounting system promptly, management reporting for top management regarding the flow of funds in all necessary sections is generated quite quickly. Moreover, information on the company’s costs can also be entered on the basis of payments, that is, the same applications. Therefore, it is possible to ensure that information on paid applications automatically generates a so-called management fact on expenses. Once the payment has been made, a preliminary expense has been generated, and you can immediately see the actual reflection in the cash flow budget and the income and expenses budget.

Another task is related to the previous one - speeding up the closing of the period. Or rather, one of its aspects is increasing performance discipline. Often, closing deadlines suffer due to the late submission of primary documents by employees or contractors. Persuasion will not help here; tough measures are needed. You can install additional checks during the payout process. Does the applicant have an advance report for previously issued money or other supporting documents? No, you will not receive money on a new application. Or if the counterparty for the previous payment did not submit certificates of completion of work for the previous advance, he may not count on the next tranche. And so you can systematically analyze all the bottlenecks in the processes of obtaining primary documents and link them to the payment calendar.

Sincerely, Young Analyst

Treasury Department is a special organization of treasurers who service the treasury: a private or public repository of funds.

What is the “treasury” and its functional responsibilities?

This term denotes a special financial state institution (body) that carries out operations for the cash execution of the country's budget.

The Treasury deals with the following main issues:

• organizes the collection of fees, taxes and duties;
• controls income from the sale of loans;
• releases funds for expenses;
• issues money (paper).

Features of the treasury organization in the countries of the world

Each country has its own characteristics of the functioning of the above body. In the USA, the Treasury is a Department of the Ministry of Finance, in Russia - the Federal Treasury, in France - the Treasury Department of the Ministry of Finance, in Great Britain - an independent treasury.

Russia

The Russian Federal Treasury is a federal executive body or, in other words, a federal service that carries out, strictly in accordance with the legislation of a given state, enforcement obligations to ensure the execution of the Federation budget and cash services. This institution is under the jurisdiction of the Finance Ministry of Russia.

The Treasury of the Russian Federation was created in 1992 on December 8 by presidential decree. The central apparatus of this body includes the following divisions:

• Budget management and reporting;
• Division of financial and reporting operations;
• Directorate for Ensuring the Execution of the Federation Budget;
• Financial division;
• Department of control (internal) and performance evaluation;
• Legal department;
• Department of Information Integrated State Finance Systems;
• Administrative division;
• Office of Financial Technology;
• Functional Performance Improvement Division;
• Management of budget payments growth;
• Division of information secrecy regime.

The Treasury of the Russian Federation consists of territorial departments of the federal treasuries, which are part of the Russian Federation republics, the cities of St. Petersburg and Moscow, regions and territories.

Treasury bodies have the status of an independent federal service, have independent cost estimates and current accounts in banking institutions. They are legal entities and report to the Minister of Finance of the Russian Federation.

Territorial treasury bodies report to the Deputy Minister of Finance of the Russian Federation, who is also the head of the Main Directorate of the Federal Treasury.

The main functional responsibilities of the Treasury of the Russian Federation:

• management of accounting of operations for cash execution of the federal budget;
• distribution of income from taxes and fees in the budget system of the Russian Federation between budgets;
• maintains and, among other things, opens personal accounts of managers, maintains their register;
• provides data and reporting on the execution of the federal budget to the Russian Federation;
• provides mobilization preparation for the Federal Treasury;
• carries out short-term forecasting of the volume of financial resources of the state;
• serves and manages, together with the Central Bank, the state internal and external Russian Federation.

USA

The American Treasury or the US Department of the Treasury is one of the executive departments that was created back in 1789. His responsibilities include developing and executing the monetary policy of the United States, regulating financial institutions, exports and imports, printing paper dollars and minting coins, and, of course, collecting taxes.

In addition, the functions of the US Treasury Department include:

• payment of government bills;
• managing the country's debt;
• consulting on international and domestic economic, monetary, financial, trade and tax policies;
• publication of static reporting;
• criminal prosecution of persons who evade taxes;
• ensuring compliance with tax and financial federal legislation.

The activities of this department are led by the United States Jacob Lew.

What is an organization's treasury?

The above-mentioned key division or any other financial institution is engaged in ensuring the liquidity of the company (that is, it carries out payments, deposits available funds into a cash account, and raises money when there is a shortage).

In financial markets, operations are carried out directly by the treasury itself or by the dealing division, which is part of it or is parallel to it in the structure of managing the company’s liabilities and assets. In the latter case, they talk about the separation of the middle office (treasury) and the front office (dealing division).

Market risk management is a functional responsibility of Treasury. This is done with the aim of generating income from expected developments in the market. Experts highlight interest rate, currency and stock risks.

Interest risk is managed by the method of establishing interest base rates and special transfer prices for branches. Transfer prices and interest rates are offered either by the Treasury itself or by the Liability and Asset Management Committee.

The method of opening currency positions (that is, purchasing and selling one currency for another) is used to manage currency risk. Limits are also set on the amount of foreign currency positions of branches or other divisions that generate income.

By forming stock portfolios, stock risk management occurs.

Another critical function of the treasury is to coordinate the above responsibilities within the centralized management of the organization's liabilities and assets.

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In the Russian Federation there is a single centralized system of federal treasury bodies, including the Main Directorate of the Federal Treasury of the Ministry of Finance of the Russian Federation and subordinate territorial bodies of the federal treasury for the constituent entities of the Russian Federation, cities, except for cities of regional subordination, districts and districts in cities.

The main tasks of the Treasury authorities:

1) organization, implementation and control over the execution of the budget of the Russian Federation, management of budget revenues and expenses in the Treasury accounts, based on the principle of cash unity;

2) regulation of financial relations between the budget of the Russian Federation and state extra-budgetary funds, financial execution of these funds, control over the receipt and use of extra-budgetary funds;

3) implementation of short-term forecasting of the volumes of state financial resources, their operational management;

4) collection, processing and analysis of information on the state of public finances, submission to legislative and executive bodies of reporting on financial operations of the Government of the Russian Federation on the budget of the Russian Federation, on state extra-budgetary funds, on the state of the budget system of the Russian Federation;

5) management and servicing, jointly with the Bank of Russia and other authorized banks, of the state internal and external debt of the Russian Federation;

6) development of methodological and instructional materials, procedures for conducting accounting operations on issues within the competence of the Treasury, preparing a draft budget classification, conducting accounting operations for the state treasury of the Russian Federation.

The functions of the Main Directorate of the Federal Treasury of the Ministry of Finance of the Russian Federation include:

Organization of budgetary and financial execution of the federal budget and financial execution of state federal extra-budgetary funds, based on the principle of cash unity;

Management of the work of territorial bodies of the Federal Treasury;

Informing the territorial bodies of the Federal Treasury of the amount of allocations from the federal budget for the territories they serve;

Maintaining a consolidated register of managers of federal budget funds, state federal extra-budgetary funds and federal extra-budgetary funds;

Organizing the distribution of revenues between the federal budget and the budgets of the constituent entities of the Russian Federation, transferring deductions from state tax and income receipts to local budgets;

Management of income and expenses of the federal budget and other centralized financial resources under the jurisdiction of the Government of the Russian Federation, management of funds in relevant bank accounts, except for funds of state federal extra-budgetary funds and federal extra-budgetary funds, carrying out transactions with these funds;

Organization of mutual settlements between the federal budget and the budgets of the constituent entities of the Russian Federation;

Regulation of financial relations between the federal budget and state federal extra-budgetary funds, organization of control over the receipt and use of federal extra-budgetary funds;

Organization and implementation of: short-term forecasting and cash planning of federal budget funds, other centralized financial resources and directions for their use; accounting for operations on the movement of funds from the federal budget, state federal extra-budgetary funds and federal extra-budgetary funds in treasury accounts; collection, processing and analysis of information on the state of the federal budget, budgets of constituent entities of the Russian Federation, state federal extra-budgetary funds and federal extra-budgetary funds;

Carrying out, on instructions from the Government of the Russian Federation and the Ministry of Finance of the Russian Federation, other operations with funds from the federal budget and other funds under the jurisdiction of the Government of the Russian Federation;

Organization of the work of territorial bodies of the Treasury to monitor the execution of the federal budget, state federal extra-budgetary funds, the receipt and use of federal extra-budgetary funds;

Management and servicing of state internal and external debt together with the Bank of Russia and other authorized banks, organization and implementation of placement on a repayable and paid basis of centralized financial resources administered by the Government of the Russian Federation;

Organization and conduct of operations for accounting of the state treasury.

Treasury bodies in the constituent entities of the Russian Federation, as well as cities with regional divisions, which have lower Treasury bodies subordinate to them, carry out functions in the corresponding territory in relation to the functions discussed above, except for the functions related exclusively to servicing the federal budget assigned to

Main Directorate of the Federal Treasury. Treasury bodies are vested with the following rights;

Open accounts for depositing and issuing funds with the Bank of Russia, its local institutions, and other credit institutions;

Suspend operations on the accounts of enterprises, including banks, using funds from the federal budget, state federal extra-budgetary funds and federal extra-budgetary funds, in cases of failure to submit or refusal to present accounting and financial documents related to the use of these funds to the Treasury authorities and their officials;

Issue binding orders to collect from enterprises in an indisputable manner funds allocated from the federal budget, funds from this budget directed to state federal extra-budgetary funds or federal extra-budgetary funds used for other purposes, with the imposition on enterprises of a fine in the amount of the Bank's refinancing rate Russia;

To impose a fine on credit organizations if they fail to timely execute payment documents for the transfer and crediting of funds to the federal budget, to state federal extra-budgetary funds, or funds from the federal budget and these funds to the accounts of recipients in the relevant credit organizations in the amount applicable to the bank that committed the violation, interest rate for short-term lending increased by 10 points; submit to the Bank of Russia proposals to deprive credit organizations of licenses to conduct banking operations.

The Federal Treasury of the Russian Federation was created by Decree of the President of the Russian Federation of December 8, 1992 No. 1556. The unified centralized system of federal treasury bodies is headed by the head of the Federal Treasury - the head of the Main Directorate of the Federal Treasury of the Ministry of Finance of the Russian Federation.

The Treasury informs the legislative and executive bodies of state power of the Russian Federation about the results of the execution of the federal budget, other financial transactions of the Government of the Russian Federation, as well as about the state of state (federal) extra-budgetary funds and the budget system of the Russian Federation.

The treasury system of budget execution consists in the fact that with it, a special control structure - the treasury - is built between taxpayers and budget recipients, on the one hand, and banks, on the other.

The Treasury controls both flows of budget resources - both revenue and expenditure - in one account. This ensures the principle of cash unity, and also accelerates the turnover of budget funds. The treasury system allows detailed information on budget execution.

The Treasury performs the following functions:

Ensures that all budget revenues are accounted for;

Confirms budget obligations (i.e. obligations to spend budget funds), and makes a permitting inscription for the right to make expenses, i.e. authorizes expenditures within the limits of budgetary obligations;

Makes payments on behalf of recipients of budget funds.

The Federal Treasury is part of the Ministry of Finance of the Russian Federation.

The Federal Treasury registers incoming income and expenses in the General Ledger of the Federal Treasury. This book is maintained on the basis of a chart of accounts approved by the Treasury itself. The data entered into the general ledger of the Treasury is the basis for preparing reports on the execution of the federal budget. The Federal Treasury maintains a consolidated register of recipients of federal budget funds.

To account for federal budget expenses, personal accounts of budget funds are used, opened in the unified accounting register of the Federal Treasury for each main manager, manager and recipient of federal budget funds.

The personal account reflects the amount of federal budget funds available to the manager or recipient of these funds.

The treasury structure consists of three units.

1. Main Directorate of the Federal Treasury (GUFK). This department carries out consolidated accounting of income and expenses of the federal budget.

2. Directorates of the Federal Treasury (UFK) in regions, territories and republics within the Russian Federation, in the cities of Moscow and St. Petersburg.

3. Branches of the Federal Treasury in cities and urban regions (OFC).

In order to exercise powers in the established field of activity, the Federal Treasury has the right:

request and receive, in the prescribed manner, information necessary for making decisions on issues within the established scope of activity;

provide legal entities and individuals with explanations on issues related to the established field of activity;

organize the necessary examinations, analyzes and assessments, as well as scientific research in the established field of activity;

exercise control over the activities of territorial bodies of the Federal Treasury;

create, reorganize and liquidate territorial bodies of the Federal Treasury in agreement with the Minister of Finance of the Russian Federation;

create advisory and expert bodies (councils, commissions, groups, collegiums) in the established field of activity. Regulations on the Federal Treasury of December 1, 2004 No. 703

The Federal Treasury does not have the right to carry out legal regulation in the established field of activity, except in cases established by federal laws, decrees of the President of the Russian Federation and decrees of the Government of the Russian Federation, as well as the functions of managing state property and providing paid services.

The Federal Treasury is headed by a director appointed and dismissed by the Government of the Russian Federation on the proposal of the Minister of Finance of the Russian Federation.

The head of the Federal Treasury has deputies who are appointed and dismissed by the Minister of Finance of the Russian Federation on the proposal of the head of the Federal Treasury.

The number of deputy heads of the Federal Treasury is established by the Government of the Russian Federation.

Head of the Federal Treasury:

distributes responsibilities among his deputies;

submits to the Minister of Finance of the Russian Federation:

draft regulations on the Federal Treasury;

proposals for the appointment and dismissal of deputy heads of the Federal Treasury;

proposals for the appointment and dismissal of heads of territorial bodies of the Federal Treasury;

draft regulations on territorial bodies of the Federal Treasury;

appoints and dismisses employees of the central apparatus of the Federal Treasury and deputy heads of territorial bodies of the Federal Treasury. Regulations on the Federal Treasury of December 1, 2004 No. 703

The head of the Federal Treasury is personally responsible for the implementation of the powers assigned to the Federal Treasury.

The costs of maintaining the central apparatus and territorial bodies of the Federal Treasury are financed from funds provided in the federal budget.

The Federal Treasury is a legal entity, has a seal with the image of the State Emblem of the Russian Federation and with its name, other seals, stamps and forms of the established form, as well as accounts opened in accordance with the legislation of the Russian Federation.

The location of the Federal Treasury is Moscow.