Consolidated financial balance. Financial balance of the region Financial resources of the Russian Federation

The main tool for analyzing the movement of all financial resources created and located in the region is the consolidated financial balance, which reflects the totality of financial resources created and used in the territory.

Consolidated financial balance involves bringing together various kinds financial plans: financial plans of enterprises and organizations, the territorial budget, the balance of cash expenditures and incomes of the population, etc., reflecting certain aspects of the distribution and redistribution of national income created and used in a given territory.

The main task of the territorial consolidated financial balance is to determine the volume of financial resources created, received and used in the region (both centralized, accumulated and redistributed through the budget system, and decentralized, i.e. resources of enterprises and organizations).

The consolidated financial balance is built on the basis of the above-mentioned broad approach to determining the financial resources of the region, therefore, the balance sheet should reflect not only the financial resources created in the region, but also the resources created outside the region and received in this region through distribution and redistribution channels. Consequently, the consolidated financial balance of the territory includes the finances of business entities in the region, budgetary and non-budgetary funds, external receipts of financial resources and transfers to the federal system.

The funds of the population, as a rule, are not reflected in the balance sheet, with the exception of a small part of them withdrawn in the form of income tax, state duties, and fees. However, their movement is reflected in the balance of incomes and expenditures of the population, which, together with the financial resources created in the territory, characterize the formed financial resources. The value of the formed financial resources determines all the financial resources that the region has and which can be used directly on its territory.

Aggregated items of income and expenses of the financial balance at the level of subjects of the Federation can be presented as follows.

Table 1. - Financial balance of the region

The income part of the financial balance reflects the region's own income: profit, depreciation, personal income tax, indirect taxes, resource payments, contributions to social off-budget funds, other income; as well as financial resources attracted to the region: subsidies from the federal budget and centralized funds, long-term bank loans, external private investments, including foreign ones.

The expenditure part of the balance reflects two groups of expenses: expenditures on the territory and deductions to the federal financial system. Costs in the territory include: costs for capital investments from centralized sources, expenditures on the national economy, expenditures of enterprises at the expense of profit and depreciation, expenditures on social and cultural events from the budget and extra-budgetary funds, expenses for the maintenance of organs government controlled and law enforcement and other expenses. The contributions to the federal reserve system include contributions to the federal budget and contributions to the federal financial system.

Unlike the budget, which is legislative document, the regional financial balance serves as an analytical tool, the compilation of which allows:

compare the needs of the territory and the real opportunities to cover them;

determine the financial security of a particular territory;

present the contribution of the territory to state resources and the contribution of state resources to the development of regions;

identify potential local budget and off-budget funds;

monitor the process of formation, accumulation, distribution of financial resources, fixing bottlenecks.

In addition, the balance allows you to set the amount of financial resources left at the disposal of enterprises and organizations sent to the local and higher budgets, as well as funds mobilized from sources external to the territory and primarily from the federal budget.

The information base for compiling the financial balance is the statistical data of the reports of enterprises and organizations on the results of financial activities, reports on the use of local budgets, data from tax inspectorates, reports on the formation and use of extra-budgetary funds, data from customs departments and other information.

An important role in the conduct of financial policy belongs to the development and implementation of financial plans. They are accepted at different levels: national, republican, local, enterprises and institutions and other subjects of financial activity. With the help of financial plans, the financial development of the object is forecasted. The adopted and approved plans are considered as guiding documents, which are the basis for the financial planning of the region.

combination of laws market economy with planning elements in the field of financial resource management in the region should be harmonious, based on an integrated approach, taking into account the interests of its socio-economic development. Sustainable development production system region and the achievement of certain goals and indicators in a market economy can be ensured by planning volumes and sources of origin, as well as the movement of financial resources. However, it should be remembered that the planning of financial resources in a command-administrative economy and the planning of the movement of financial resources in a managed market economy are not identical concepts.

Thus, in the command-administrative economy, the process of planning the volume of financial resources actually represented the planning of the region's budget. On the other hand, similar planning in a market economy is aimed at building the financial potential of the region in order to create a balanced structure of production potential, increase the overall efficiency of the regional economy and address pressing social issues.

The financial plan of the region is a task for the formation, distribution and use of financial resources, adopted for a certain period in order to ensure the socio-economic development of the region.

The financial plan contains tasks for determining the volumes and sources of income, the direction of their distribution, the structure of costs, the volumes and sources of investment policy, the formation and use of reserve funds, etc. The financial plan is developed in the form of a balance of income and expenses and has several sections: receipt of funds and income structure; expenses and deductions of financial resources, financial results(balance of income and expenses).

Financial planning is the activity of subjects to develop projects for the formation, distribution and use of financial resources in order to solve the tasks set. K main constituent parts financial planning include: determining the sources and volumes of mobilization of financial resources in order to ensure the planned activities; development of options for the distribution of attracted funds in various areas; introduction of rational and efficient use of the resources received. As a rule, financial plans are accompanied by the development of a management system for the purpose of mobilizing, allocating and using resources, as well as monitoring the implementation of plans.

In the process of financial planning are used various methods. The main ones are: normative method, balance method, analytical method, forecasting method. The balance method makes it possible to take into account the ratio between assets and sources of their formation. The normative method allows you to calculate plans based on the approved norms and standards. Factor analysis methods are used in the process of determining the influence of certain factors on the possible development of an object. The development of financial plans is based on the use of forecasting, determining options future events by conducting calculations of possible development models.

Financial planning is carried out in different forms. The main ones are: strategic planning, ongoing planning, operational planning.

The balance of financial resources and costs of the region is a plan for the receipt of financial resources and their use in all sectors of the region's economy. It reflects a system of indicators on the sources of education, volumes, directions of distribution, redistribution and use of the financial resources of the region. It is compiled with the aim of developing forecasts of the economic and social development, is the basis for the development of many plans and programs regional development. These include, in particular, the budget of the region, the balance of cash income and expenditures of the population, etc.

The balance of financial resources and expenditures is drawn up at the national and regional levels. For example, consider the structure of the balance of financial resources and expenses of the region. The first section of the balance reflects the financial resources created in the region and the receipt of funds in the region from other entities. In particular, this includes regional budget revenues, financial resources of economic structures, funds from centralized and decentralized state trust funds, credit resources of commercial banks, as well as funds attracted on loan terms. The second section of the balance sheet reflects the costs incurred by various financial entities: local budgets, the State budget, business entities, state trust funds, etc.

The structure of the balance of financial resources and costs of the region includes the following sections:

1.1. Profit.

1.2. Taxes, fees, mandatory contributions of legal entities and individuals to the State budget and state trust funds.

1.3. Depreciation deductions.

1.4. Long-term deposits of the population.

1.5. Foreign loans and receipts.

1.6. Receipt of funds from state budget.

1.7. Other income.

2. Costs

2.1. Expenses for the development of the economy (capital investments from all sources of financing).

2.2. State subsidies and price difference payments.

2.3. The cost of social guarantees to the population.

2.4. Spending on social and cultural events.

2.5. Pensions and assistance.

2.6. Management costs.

2.7. Expenses at the expense of state trust funds.

2.8. Costs of economic structures for social events.

2.9. Other expenses of economic structures.

2.10. Other budget expenses.

2.11. Transfer of funds to the State budget. Balance.

Expenses for the development of the economy include capital investments made from all sources of financing. Such expenses, in particular, include capital investments of business entities, expenses for the development of the regional budget, the State budget, state trust funds; capital investments of economic structures, long-term expenses carried out at the expense of bank loans. State subsidies and payments of the difference in prices are allocations from the local budget for the payment of the difference in prices for gas, solid fuel (when sold to the population), housing maintenance organizations and public utilities, public transport, school canteens, medical facilities, etc.

Expenses for social guarantees to the population include financing (from the local budget) of assistance payments for children under the age of 16; citizens with minimum incomes, housing subsidies (to pay for electricity, gas, solid fuel and housing and communal services), migrants, single mothers, disabled people, veterans, etc. Allocation of funds from the local budget for the maintenance of preschool activities, schools, expenses for the development of culture, training and retraining of personnel, health care, physical education, etc. - These are expenses for social and cultural events.

Pensions and benefits include expenditures financed from pension fund Ukraine and the Fund social insurance and from local budgets. The allowance is paid to pensioners, temporarily disabled and other categories of the population. The expenses of economic structures for social activities include the costs of material incentives, improving the living conditions of workers, and organizing recreation and treatment. Such expenses are financed from the profits of enterprises and institutions. Other expenses of economic structures are expenses for the creation of reserve funds, for charitable events, etc. Other budget expenses include financing civil defense, creating reserve funds, protecting environment, transfer of funds to the budgets of lower levels, etc.

Thus, indicators of the balance of financial resources and expenses of the region cover all financial resources that are formed, distributed, redistributed and used in the region during a certain period. The total amount of receipts must equal the total amount of expenses. At the same time, part of the income received in the region is transferred outside its borders: taxes and deductions to the State budget, to state trust funds, etc. On the other hand, a certain amount of income is provided by transfers from sources outside the region: from the State budget, credit resources from other regions and receipts from foreign countries, etc.

The balance of financial resources and expenses of the region is the basis for the development of programs for the socio-economic development of the region, the preparation and adoption of local budgets, targeted programs and other events of regional significance. The balance sheet itself acts as a financial plan. However, it is not an immediate mandatory task for local authorities. But since more imperative financial plans are formed on its basis, the balance sheet plays an important role in the conduct of financial policy in the region.

V. Stolyarov argues that until we learn how to make balances of financial resources, starting from the region and ending with the state, there will be no coordination of regional and national reproduction processes. The scientist comes to the conclusion that in a market economy there should be mechanisms of state control and management that can independently function under the control of local governments at the regional level, taking into account the nationwide financial policy.

In order to ensure the implementation of economic and social development programs, the establishment of optimal directions for their distribution and use in Ukraine, a balance of financial resources is being developed. Its development is carried out by the Ministry of Economy of Ukraine, the Ministry of Finance and the State Statistics Committee of Ukraine in pursuance of the Resolution of the Cabinet of Ministers of Ukraine No. 471 dated June 28, 95 and in accordance with the requirements of methodological guidelines for its preparation, approved by the joint order of these departments OT April 18, 1996 No. 49 / 76/117.

AT normative documents the balance of financial resources is defined as a comprehensive forecasting calculation, which displays the amount of financial resources created and their use in all sectors of the state economy. It is the basis for making managerial decisions on the efficiency of using all types of financial resources, attracting additional investment sources, serves as an information and analytical basis for developing and substantiating the financial policy of the state.

The balance of financial resources is compiled in the prescribed form and includes the following main sections:

By income:

1. Budget resources.

2. Long-term credit resources for the development of the national economy.

3. Resources of enterprises and organizations.

4. Resources from off-budget funds are not directed to the state budget.

5. Funds of foreign investors for the development of the national economy

6. Other sources directed to cover the budget deficit (loans of the National Bank, issuance valuable papers, financial aid international financial organizations, etc.).

For expenses:

1. Budget expenditures.

2. Expenses for the implementation of national programs for the development of the national economy through long-term loans.

3. Costs of enterprises and organizations at the expense of their own resources.

4. Expenditure of off-budget funds (without budgetary funds). The balance sheet indicators are calculated in close connection with the gross domestic product, national income, wage fund, predictive price change indices, accumulation and consumption funds. In some cases, balance indicators are determined on the basis of expert assessments.

When compiling balance sheets of financial resources as components of programs for the socio-economic development of regions, the Ministry of Economy of Ukraine recommended the form of balance sheet (Table 3.1.), which simultaneously determines the composition of resources.

A complete picture of the financial resources that are accumulated in the territory, gives an analysis of the consolidated financial balance of the region. Such a balance sheet contains information on the receipt, formation, redistribution and use in the region of all financial resources from both centralized and decentralized sources, as well as their transfer outside the region.

The financial balance provides the necessary information about the financial potential of the region. Such information is needed to develop measures to improve the efficiency of the use of finance.

Table 3.1. Balance of financial resources of the region (example) (million UAH)

The information base for compiling a consolidated financial balance is data from territorial financial, credit, statistical authorities, functional units of local governments, economic standards and limits on the main indicators of the development of the region, indicators of forecasts for the socio-economic development of the region, data from the local budget, balances of income and expenses of all enterprises and organizations located on the territory, the balance of cash income and expenditure of the population.

The analysis of liabilities makes it possible to identify the dynamics of individual sources of financial resources both in terms of value and share in overall structure liabilities.

Data for analysis of financial resources should look like this:

To determine changes in the structure of financial resources in absolute terms, you need to find the difference between the results at the end and at the beginning of the period.

To calculate the percentage change, find the ratio of the resulting difference to the results at the beginning of the period.

That is, for example, the growth dynamics of financial resources is calculated as follows: 5940 / 27370 * 100% = 21.7%.

In addition to a direct assessment of the structure of financial resources, such an analysis allows you to quickly make some additional calculations:

– Property value increased by 22.1%. This happened as a result of the growth of the company's financial resources by 21.7%, and borrowed resources - by 23.4%. Due to the fact that the rate of increase in borrowed funds is somewhat higher than that of own funds, the share of the latter in the total volume decreased - however, rather insignificantly, by only 0.3%.

- Sources of formation of financial resources this year by 73.3% (5940 / 8100 * 100%) consist of own funds and 26.7% - of borrowed funds.

– The amount of borrowed funds increased in all positions. At the same time, the most significant growth occurred in long-term loans, now their share in total liabilities is 21.1% (2400 / 11,390 * 100%), which is 4.8% more than at the beginning of the year. The share of short-term loans also increased - by 2.7%; now it is 34.1%.

In the above example, the main source of borrowed financial resources is accounts payable, so it would be useful to study its composition separately.

It is worth paying attention to the fact that accounts payable have changed less than their own financial resources. In the case of enterprises engaged in the manufacture or sale of any products, such a ratio may indicate that the increase in equity is not associated with growth or production. Such changes in the structure of financial resources, however, in themselves do not indicate either a worsening or an improvement in the situation - their significance entirely depends on the goals of the company's financial activities.

In addition to studying the dynamics, on the basis of the balance sheet liability, conclusions can also be drawn about the sustainability of the enterprise - for this, several coefficients are used that characterize the structure of financial resources.

Capitalization ratio shows the ratio of borrowed and own financial resources of the company. It is calculated as follows:

Capitalization ratio = Borrowed funds / Equity

For the company from the example, it is equal to 11390 / 33310 = 0.34, that is, 0.34 borrowed accounts for 1 ruble of own funds.

This value of the capitalization ratio indicates that the main share of the capital is its own financial resources. On the one hand, this indicates a high degree sustainability, and on the other hand, the fact that the company can lose significant profits by refusing to borrow.

However, the value of this indicator by itself does not allow assessing the financial efficiency of an enterprise; in this case, the standards are highly dependent on the industry and the stage of business development.

Financial Independence Ratio allows you to determine specific gravity own capital in the sum of all sources of financial resources. To determine it, the formula is used:

Financial Independence Ratio = Equity / Balance Currency

For the example company, it looks like this: 33310 / 44700 = 0.75.

The maximum value of this coefficient is 1, and the higher the result, the greater the stability of the company. But, again, a high value may indicate a low efficiency in the use of financial resources.

And finally, the last one - financial stability ratio. It indicates what part of the capital is made up of sustainable sources of financial resources - that is, those that the company can use for a long time. The calculation is made according to the following formula:

Financial stability ratio = (Equity + Long-term liabilities) / Balance sheet

For the company from the example, the result is: (33310 + 2400) / 44700 = 0.8.

If the value is in the range of 0.8 - 0.9, the company's position can be safely called stable. However, it is impossible to evaluate financial efficiency using this indicator - for this it is necessary to separately consider the ratio of own funds to long-term liabilities.

Financial resources: indicators of financial performance

Key financial performance indicators include:

– Profit (loss) at the end of the reporting year is the amount of profit (loss) from the sale of fixed assets, products, works, services and net income from non-sales operations. It is revealed on the basis of accounting of financial transactions.

– Profitability is the ratio of profit and costs for production and products

– working capital

– turnover working capital- the faster the turnover, the smaller the time gap between production costs and receipt of revenue and profit.

– cash receipts- money from the sale of products, the performance of work and the provision of services.

– Accounts payable – debts to suppliers, contractors, promissory notes, salaries, budgetary and extra-budgetary payments, etc.

– Accounts receivable- debts for sold goods and services from buyers, debts on operations with the budget, accountable persons, etc.

- Arrears - debts not repaid at the appointed time.

The consolidated financial balance is the balance of financial resources created and used in a state or in a certain territory. The consolidated financial balance covers the funds of all budgets, extra-budgetary trust funds and enterprises located in the respective territory.

In our country, consolidated financial balance sheets at the national level began to be drawn up in the 1930s. A great contribution to the theory and methodology of compiling such balances was made by N.M. Valuysky, V.A. Galanov, A.M. Lando, N.S. Margolin, B.C. Pavlov, V.G. Panskov, G.Ya. Shakhov.

Drawing up a consolidated financial balance is a preparatory stage for the development of a targeted financial plan, i.e., a budget. The consolidated financial balance of the state makes it possible to link material and financial proportions in the national economy, to coordinate the indicators of all links in the financial and credit system; ensure a balance check of the forecast of the economic and social development of the state, determine the sources of funding for the activities outlined by this forecast; identify reserves of additional financial resources; make predictive financial calculations; to develop directions of financial policy.

The consolidated financial balance of the state is developed by the Ministry of Economy of the Russian Federation with the participation of the Ministry of Finance of the Russian Federation on the basis of macroeconomic indicators. Table 1 illustrates the scheme of the main indicators of the consolidated financial balance drawn up at the national level.

Table 1 Structure of the consolidated financial balance (nationwide level)

Territorial consolidated financial planning. If the consolidated financial planning at the national level is based on the methodology developed in our country and many years of experience, then the compilation of the consolidated financial balance of the territories began relatively recently. Although the first attempts to prepare consolidated financial balance sheets in the Union republics of the USSR were made as early as the 1930s, the financial balance sheets developed in them covered only the financial resources created and used in the economy subordinate to the republican executive bodies authorities.

The question of developing a consolidated financial balance, reflecting the movement of all financial resources in the territory, began to be raised by economists only in the 70s. I.A. Avetisyan, O.D. Vasilik, T.T. Tulebaev.

Even more difficult was the development of a consolidated financial balance sheet at the regional, city, and district levels. Only in the mid-1970s, at the NIFI of the USSR Ministry of Finance, G. B. Polyak began to develop methodological foundations for compiling such a balance. Prepared by him for the first time in our country Guidelines on the compilation of the consolidated financial balance of the city were experimentally tested in individual cities and served as the basis for compiling such balances for the regional and district levels. In the mid-1980s, such balances began to be drawn up in all autonomous republics, territories, regions and major cities USSR.

The need to develop territorial consolidated financial balances is due to a number of factors:

• 1) the development of programs that provide for the unification of the efforts of territorial authorities and enterprises located on their territory for economic and social development;
• 2) significant financial costs for the implementation of such programs. To provide financial resources for the activities outlined by these programs, coordination and concentration of funds are necessary. budget system, funds of departments and enterprises. This, in turn, requires the development of a consolidated financial balance in the region;
• 3) the need to bring together various types of financial plans: financial plans of economic enterprises and organizations, the territorial budget, extra-budgetary funds, etc., reflecting individual aspects and stages of the distribution and redistribution of national income created and used in a given territory. This allows you to have a complete picture of the formation and use of all financial resources of the administrative-territorial unit;

The main task of the territorial consolidated financial balance is to determine the volume of financial resources created, received and used in the region (both centralized, accumulated and redistributed by territorial budgets, and decentralized, i.e., resources of enterprises, organizations and extra-budgetary funds).

Planning of financial resources is accompanied by an analysis of the achieved level of mobilization and use of financial resources of the region, identification of the degree of compliance of this level with the needs of the region's development.

The information base in the development of the consolidated financial balance of the region is: data from territorial economic, financial, statistical bodies, functional divisions of territorial authorities, economic standards and limits on the main indicators of the development of the region, indicators of draft plans for the economic and social development of the territory, data from the territorial budget, extra-budgetary funds , balances of income and expenses of all enterprises and organizations located in the territory, regardless of their departmental subordination.

The consolidated financial balance at the territorial level has the following composition of indicators (Appendix 1).

Drawing up a territorial consolidated financial balance allows you to:

• * achieve unity in the economic and social development of the territory;
• * more accurately determine the amount of financial resources available in the region and necessary for the implementation of activities provided for by the territorial program;
• * balance the material and financial resources used in the region;
• * improve the quality of budget planning;
• * coordinate the use of financial resources of both territorial bodies and enterprises located in the region;
• * to concentrate financial resources on the most important directions of economic and social development of the territory in each specific period;
• * find intra-regional reserves to finance the activities outlined by the territorial programs;
• * the most efficient use of funds allocated by the state for the development of production, social and industrial infrastructure in the region;
• * exercise effective control over the mobilization and use of financial resources;
• * more actively influence the formation of all sections of the territorial program;
• * seek a combination of territorial and departmental interests.

Coordination and concentration of funds in the region, increasing the efficiency of their use have a positive impact on financial planning, help reduce the need for financial resources allocated from the budget.