Treasury Support as a Budgetary and Legal Tool for Improving the Efficiency of Using Budget Funds

Abstract

The article is devoted to the study of the legal fundamentals for increasing the efficiency of the use of budget funds in Russia. The outlined tasks to ensure financial sovereignty and improve the effectiveness of public financial management predetermine the need to improve the legal mechanisms for ensuring efficiency in the field of public finance of the state. Article 34 of the Budget Code of the Russian Federation enshrines the principle of efficiency in the use of budgetary funds. However, legislative regulation does not contain sufficiently defined criteria for assessing such effectiveness, allowing confusion with the concepts of “economy”, “effectiveness”. The authors attempt to identify relevant budgetary and legal instruments to increase the efficiency of the use of budget funds in the Russian Federation, consider the specifics of the formation of a modern system of cash execution of the budget, taking into account historical prerequisites and their impact on the development of new budgetary and legal instruments – budget monitoring, treasury support, rules for accounting for budget expenditures. Based on the monitoring and analysis of the legal regulation of public finance, the article highlights treasury support as a new budgetary and legal instrument and identifies its role and importance in increasing the efficiency of the use of budgetary funds. The analysis made it possible to formulate the prerequisites for the need for further implementation of such tools as treasury support, as well as to highlight its characteristic features and features. Vectors of further improvement of the budgetary sphere are determined.