The budgetary resolution is a legal act of body representing government entities, created in accordance to requirements of the budgetary procedure, which includes the all basic issues of finance of government in a calendar year.
According to the article: 184 of the Act on public finances, the budget resolution includes two types of legal content: order sizes and structure the general public funds obtained by local government entity during the financial year and the provisions about the budgetary authority.
Provisions reserved for budgetary resolutions:
- the projected income of government entities, according to budget classification rules,
- provisions on planned expenditures by sections and chapters of the budget classification,
- current expenditure with emphasis on: wages and salaries, expenses from derivatives, grants to support local government unit debt,
- property expenditure: capital expenditure, investment purchases and capital spending,
- provisions about sources for covering the budget deficit, or about the purpose of the planned surplus,
- income and expenditure related to the implementation of the tasks of state administration assigned,
- provisions of the separate income and expenditure related to the implementation of agreements or arrangements between local government units,
- provisions on separate expenses, which are associated with multiannual investment programmes and expenditure programmes and projects implemented with funds from the European Union,
- in the case of municipalities and provinces, revenues from the fees for the sale of alcoholic beverages, and expenditure on programme of prevention and alcohol problem-solving program,
- provisions about the extent and the amounts of funds provided by the central budget, grants and investment grants,
- other provisions,
- plans of the revenues and expenditure of budgetary unit, plans of the revenues and expenditure of EU funds, as well as plans for own income and expenditure of budget units,
- provisions about limits for new commitments in relation to incur new debt,
- the limits for borrowing obligations during the financial year,
- borrowing authorization for agreements included in the budget resolution, limits for long-term liabilities in investment programs.
Budget resolution is not a normative and widely applicable act. Main user of budgetary resolutions is the executive body of the local and central government entities.
|Budgetary resolution — recommended articles
|Budget expenditure of the local government — Non-expiring expenses — Mandatory disclosure — Inspection fee — Fiscal Agent — Direct tax — Modified gross lease — Preliminary expenses — Limited partnership
- Artis, M. J., & Buti, M. (2000). Close‐to‐Balance or in Surplus: A Policy‐Maker's Guide to the Implementation of the Stability and Growth Pact. JCMS: Journal of Common Market Studies, 38(4), 563-591.
- Barro, R. J. (1988). The Ricardian approach to budget deficits.