A federal investment program is a document that establishes the distribution of budgetary funds provided for by the relevant law for the implementation of certain investment construction projects, as well as for the technical re-equipment and reconstruction of capital construction facilities with the implementation of various capital investments in the Russian Federation.
Directions of capital investments
1. Construction sites for which reconstruction is planned with the involvement of budgetary funds.
2. Other acquired for the needs of certain executive bodies. The investment program applies to housing, which is purchased in accordance with Russian law.
3. Activities presented in the form of integrated investment projects, which include the construction, technical re-equipment and reconstruction of construction projects, as well as the acquisition of certain real estate objects with other capital investments.
Regulation of investment programs
A targeted investment program at the federal level is responsible for the distribution of funds in accordance with the relevant legislation (Law on the Federal Budget) for specific activities requiring the attraction of such investments. It can be both construction or real estate objects, and other events (for example, in the form of integrated investment projects).
As mentioned above, state regulation of investment programs is carried out by the adoption of federal laws regulating the formation of federal budgets for each financial year.
Investment program: features of its financing
The composition of investment programs of federal significance is constantly undergoing changes.
So, recently (since 2011), in addition to property of state importance, as well as property of business entities (for example, legal entities), capital construction projects of municipal property of constituent entities of the Russian Federation are included in their composition. A prerequisite for such investments is the availability of co-financing of construction works through the provision of subsidies (appropriations) from the federal budget.
The investment program annually provides for the allocation of budget funds for reconstruction, construction, acquisition of various facilities, as well as their technical re-equipment (an average of 900 billion rubles). At the same time, obsolescence of strategically important facilities for the state requires more and more financing every year. For comparison: in 2010 federal funds were allocated in the amount of 764 billion rubles, in 2011 - already 895 billion rubles, in 2013 - 953 billion rubles.
However, the presence of a surplus of the federal budget of the Russian Federation in 2011 allowed in 2012 to allocate the maximum amount of allocations for the development of investment projects - 1063 billion rubles.
Monitoring of investment programs
What is an investment program? This is well understood by the ministries and departments interested in state subsidies.
However, the state puts forward certain requirements that require immediate implementation:
- implementation of competitive procedures in an expeditious manner;
- control of the targeted use of funds from the budget;
- timely adjustment (if necessary) of already functioning programs and corresponding decisions on the allocation of budget investments in investment program objects (especially with regard to funding volumes);
- tight deadlines for the preparation of documentation for the design of facilities;
- study of issues to determine the priority of the expenditure side in the activities of investment programs when adopting laws on the federal budget.
The importance of investment programs for the Russian economy
An investment program of federal significance contributes to the commissioning of important facilities for the Russian Federation.
So, considering the implementation of the federal budget in 2013, we can see that with the allocation of additional budgetary funds, the following results were achieved in various spheres of society:
- The construction of a high- tech clinic in Moscow, known as the Scientific Center for Children's Health, was completed, and the building of the Orenburg State Medical Academy was completed;
- in the field of education: the building of the National Research University in Obninsk (Kaluga Region) was commissioned, and the campus in Rostov-on-Don (Southern Federal University) was completed and ennobled .
And such objects can be listed for a long time. Therefore, it is safe to say (and without exaggeration) that an investment program of federal significance allows the construction or reconstruction of facilities in those areas of activity that are partially or fully supported by the state.