The quality and effectiveness of fiscal policy in any country is ultimately determined by the budget structure. The budget system of such a complex federation as Russia, is also a complex hierarchical entity. In it, the expenses and revenues of the federal budget and other budgets are distributed by levels and have various sources of their formation.
In this three-story model, the federal budget is the highest level and is regulated by federal law. The main regulatory document that regulates budget relations and the budget process in the country is the Budget Code (BC) of the Russian Federation. The totality of all budgets forms a consolidated budget. This category - “consolidated” - is not normatively established or actually implemented. It serves to generate information and ideas about all budgets for subsequent analytical research in order to adopt the most adequate budget as a legislative act. Within the framework of this theoretical tool, the expenditures and revenues of the federal budget serve as a practical guide for the high-quality planning of articles of use and replenishment of budgetary resources.
Under the federal budget revenues are considered, without exception, all financial resources that come under the control of the institutions of power of the Russian Federation.
In the budget process, the formation of federal budget revenues takes place, the sources of its replenishment are identified and specified, and the structure is improved.
In the broadest sense, the sources of budget formation are taxes, as well as non-tax revenues and transfers established by law. In addition, the residual budget of the previous period is added to the revenues of the current budget.
The content and structure of federal budget revenues are determined by 49 articles of the Budget Code, and the following are ranked among them:
- taxes and fees established for the federal level and valid throughout the Russian Federation. They are approved on the basis of relevant standards and are valid for a period of at least 3 years;
- customs fees, duties and other fees related to customs operations;
- state duties levied in accordance with applicable law for the commission of actions for which they are established.
Non-tax revenues to the federal budget are made from income from:
- use of state property;
- sales and leasing of this property;
- proceeds from the sale of state stocks and intangible assets;
- land sales;
- transfers, fines, sanctions, payments against credit for damages, federal fees;
- conducting foreign economic activity.
According to the terms of enrollment, the costs and revenues of the federal budget are divided into their own and regulatory. The first include those that are defined and stipulated by the legislation of the Russian Federation. They act constantly. For example, tax and non-tax infringements are considered to be such income. Regulatory include those whose value is strictly fixed for each year.
Budget execution by income is the most important parameter of the budget process efficiency. Since the expenses and revenues of the federal budget are closely interlinked, it should be understood that if revenues are generated in the required amount, then expenses will not be able to cover all the necessary programs that are planned for financing for this budget period.
Assessment of the financial condition of the state is directly dependent on the adjusted ratio of income to expenses. If these indicators are equal, the budget balance is fixed. In case of excess of income, a budget surplus arises , and, accordingly, on the contrary, in case of excess of expenses over income, a deficit arises.