Budget systems of Russia and China: issues of legal regulation

The monograph is devoted to the analysis of the patterns of development of modern legal regulation of budgetary systems in the Russian Federation and the People's Republic of China. The range of issues under study includes clarification of the structures of budget systems in selected jurisdictions, identification of the specifics of legal regulation of the formation and expenditure of extra-budgetary and budgetary funds, study of the features of the delimitation of powers of state (municipal) authorities for public finance management. A comparative analysis of the legal regulation of the budgetary systems of Russia and China is presented. For a wide range of readers interested in the issues of legal regulation of budget systems. It can be useful for students, postgraduates and teachers of law and economics universities.

Predictors, Determinant Groups, and Participatory Budgeting

Recent developments in local public finance management in Slovenia indicate the local governments’ growing interest in introducing participatory budgeting as a decision-making tool, wherein part of local resources are used with citizen participation. Usually, the literature on participation budgeting analyses its effects, but our main research objective was to analyze the possible determinants influencing its implementation. The influence of political factors, sociodemographic factors, economic factors, and the capability of municipalities are examined here using binary logistic regression to predict a dichotomous dependent variable from a set of predictor variables. In binary logistic regression, predictable variables are the probability of one category being chosen. In this case, the authors calculated the probability that a municipality, described by selected prediction variables, would implement a participatory budget. The results of the analysis suggest six indicators that impact the probability of participatory budgeting adoption, proving the influence of four determinants on the decision to adopt such a measure.

Selected countries of Eastern and Central Europe in the face of challenges of modern financial technologies (on the example of Robo-Advice)

The aim of this article is to diagnose the state of technological advancement in the field of personal finance in Eastern European countries on the example of automated financial advice. The considerations were based on the literature on the subject, and in the empirical part a critical analysis of secondary data from databases was made and the results of research on robo-advice and determinants that may affect the advancement of the use of modern tools in personal finance management were published. Based on the data analysis, it was concluded that technological sophistication in personal finance in the studied countries of Eastern and Central Europe was at a high level, as evidenced by the high concentration of assets and the growing number of robo-advice users.

Task-based budget as a method of local government financial management

The aim of this article is to present task-based budgeting as a new method of public finance management: from the central budget to the budgets of the lowest level. Particular attention was paid to the aims and objectives of the budget, as well as to its performance indicators. The publication is theoretical in nature and deals with the analysis of targeted budgeting with regard to public finance, especially in the context of the central government budget.

NILAI MANFAAT DAN TINGKAT PENERAPAN MATERI PELATIHAN LITERASI DAN EDUKASI KEUANGAN (PLEK)

The lack of awareness and ability in recording and managing the finances of farming and farmer households causes farmers can’t get a real of their welfare. Farmers are still oriented to production activities and have not led to a profitable business through professional financial management. Training is one of the activities carried out as an effort to provide financial literacy and education for farming and farmer households. This study aims to determine the value of benefits and the level of application of financial literacy and education training materials which consist of 2 core materials, namely farming finance management and household financial management. The research method uses purposive sampling with 29 respondents from the Tuban, Ngawi, Lamongan, Madiun and Jombang regencies of East Java Province as participants in financial literacy and education training in 2019 and 2020. The results showed that the two materials were considered useful about 4.35 and 4.27 and the level of application of the materials was still at 50% or about 3.23 and 3.07 from the specified learning outcome indicators. The value of benefits is positively correlated with the application of the two training materials.It is necessary to improve the training module to make it simpler, easier to understand and aplicable by participants as well as intensive assistance from local extention officer so the material can be applied more optimally in farmer daily activities. ABSTRAKRendahnya kesadaran dan kemampuan dalam pencatatan dan pengelolaan keuangan usahatani dan rumah tangga petani menyebabkan kesejahteraan kurang dirasakan oleh petani. Petani selama ini masih berorientasi pada kegiatan produksi dan belum mengarah pada bisnis yang menguntungkan melalui pengelolaan keuangan yang profesional. Pelatihan merupakan salah satu kegiatan yang dilakukan sebagai upaya untuk memberikan literasi dan edukasi keuangan baik usahatani maupun rumah tangga petani. Penelitian ini bertujuan untuk mengetahui nilai manfaat dan tingkat penerapan materi pelatihan literasi dan edukasi keuangan yang terdiri dari 2 materi inti yaitu pengelolaan keuangan usahatani dan pengelolaan keuangan rumah tangga. Metode penelitian menggunakan purposive sampling dengan responden alumni peserta pelatihan literasi dan edukasi keuangan tahun 2019 dan 2020 yang berasal dari Kabupaten Tuban, Ngawi, Lamongan, Madiun dan Jombang Provinsi Jawa Timur sebanyak 29 orang. Hasil penelitian menunjukkan bahwa kedua materi dinilai bermanfaat yaitu sebesar 4,35 dan 4,27 serta tingkat penerapan materi sebesar 3,23 dan 3,07 atau masih 50% dari indikator hasil pembelajaran yang ditetapkan. Nilai manfaat berkorelasi secara positif terhadap penerapan kedua materi pelatihan. Perlu perbaikan modul pelatihan agar lebih sederhana, mudah dipahami dan diterapkan oleh peserta serta pendampingan yang intensif dari penyuluh pertanian setempat agar penerapan materi lebih optimal dan bermanfaat dalam kegiatan sehari-hari.

Budget in the digital economy

The article examines budgetary activities and budgetary policy in the digital economy and shows the importance of the principle of transparency, openness of the budget as a factor in the development of digitalization in budgetary activities. Several ways of development of the information sphere of public finance management are analyzed. It is emphasized that the “electronic budget” is aimed at ensuring transparency, openness and accountability of the activities of state bodies and government bodies. The role of the subsystems of the “electronic budget” is shown, in particular the management of expenditures of the electronic budget, where reserve funds are of great importance. The importance of financial monitoring as an instrument of control over the effective use of federal budget funds is noted.

Examining health sector stakeholder perceptions on the efficiency of county health systems in Kenya

Efficiency gains is a potential strategy to expand Kenya’s fiscal space for health. We explored health sector stakeholders’ understanding of efficiency and their perceptions of the factors that influence the efficiency of county health systems in Kenya. We conducted a qualitative cross-sectional study and collected data using three focus group discussions during a stakeholder engagement workshop. Workshop participants included health sector stakeholders from the national ministry of health and 10 (out 47) county health departments, and non-state actors in Kenya. A total of 25 health sector stakeholders participated. We analysed data using a thematic approach. Health sector stakeholders indicated the need for the outputs and outcomes of a health system to be aligned to community health needs. They felt that both hardware aspects of the system (such as the financial resources, infrastructure, human resources for health) and software aspects of the system (such as health sector policies, public finance management systems, actor relationships) should be considered as inputs in the analysis of county health system efficiency. They also felt that while traditional indicators of health system performance such as intervention coverage or outcomes for infectious diseases, and reproductive, maternal, neonatal and child health are still relevant, emerging epidemiological trends such as an increase in the burden of non-communicable diseases should also be considered. The stakeholders identified public finance management, human resources for health, political interests, corruption, management capacity, and poor coordination as factors that influence the efficiency of county health systems. An in-depth examination of the factors that influence the efficiency of county health systems could illuminate potential policy levers for generating efficiency gains. Mixed methods approaches could facilitate the study of both hardware and software factors that are considered inputs, outputs or factors that influence health system efficiency. County health system efficiency in Kenya could be enhanced by improving the timeliness of financial flows to counties and health facilities, giving health facilities financial autonomy, improving the number, skill mix, and motivation of healthcare staff, managing political interests, enhancing anticorruption strategies, strengthening management capacity and coordination in the health sector.

Financial self-sufficiency of local budgets in the context of realization of financial decentralization reform

The article highlights the current state of the formation of local budgets in the context of decentralization of financial resources, taking into account the changes made to the budget and tax legislation, the analysis of the revenue and expenditure parts of the local budget is carried out. On the basis of the study, the problems and ways of strengthening the financial base of local self-government bodies have been identified. The main tasks of budget decentralization have been formulated. The sources of filling and problems in the field of formation of local budgets in Ukraine are indicated. According to the Strategic Action Plan of the Ministry of Finance of Ukraine for 2018–2021. the key priorities of Ukraine in the field of public finance management are the efficient execution of budgets and the optimization of resource allocation between the levels of the budgetary system. The fulfillment of these tasks is also the focus of the reform of financial decentralization, which began in Ukraine in 2015 and is aimed at strengthening the financial self-sufficiency of territorial communities. Over the first five years of the implementation of this reform, the share of local bud gets in the consolidated budget of Ukraine has increased from 18.5 % in 2015 to 23.3 % as of June 1, 2020, the share of local budgets' own revenues in GDP – from 5, 1 % to 6.7 % over the same period. However, despite certain positive developments, local budgets are still more than 46 % dependent on transfers from the state budget, which indicates the need for further transformation of the local finance system aimed at strengthening the independence and financial self-sufficiency of local budgets. At the same time, the revealed patterns also indicate the existence of problematic aspects in the formation of the revenue side of local budgets, which actualizes the need to revise the structure of local taxes and fees, as well as the powers of local governments in the field of their appointment, increase deductions from national taxes and fees to local budgets., and, at the same time, popularization of local borrowing and carrying out mass explanatory work on the organizational aspects of this process and optimizing the use of borrowed funds. These measures will increase the level of concentration of funds in local budgets and, accordingly, balance the processes of decentralization of income and expenditure, turning territorial communities into more independent and autonomous participants in budgetary and economic relations.

Methodological Approaches and Tools for Managing Working Assets in the System of Finance Management in Russian Corporations

The article summarizes today’s theoretical aspects of the notion ‘working assets’ and their management with focus on the most widely used in Russia ideas about this group of enterprise and organization assets. At the same time the author provides findings of academic research by classics of economic theory and finance management (F. Kene, A. Smith, D. Ricardo, K. Marx) and present day scientists and experts. While studying academic works by today’s scientists the most frequently used in Russia definitions of the notion ‘working assets’ were identified. The author gave explanations, which allow us to see the differences between non-current and working assets of business entities. Apart from that, the effective legal aspects of managing working assets by corporations were studied with focus on describing the procedure of their fixing in forms of periodical accounting and showing material costs. The article provides different types of working asset management, depicts groups of methods for working asset management and gives a list of the most widely used tools for effective management of working assets in the system of finance management of Russian corporations.

Pengaruh Akuntabilitas Keuangan Daerah, Value For Money, Kejujuran, Transparansi, Dan Pengawasan Terhadap Pengelolaan Keuangan Daerah (Studi Kajian Pada Pemerintah Kabupaten Labuhanbatu Pusat)

This study aims to examine the influence of local financial accountability, value for money, honesty, transparency and supervision of local financial management. The sample of this research is all SKPD (Local Work Unit Unit) as user of budget related to regional finance management at Regency Government of Labuhanbatu amounting 36 SKPD and 36 Committing Officer of Commitment so amounted 72 person. Sampling method is census method, and data used is primary data. Data were collected by distributing the queryer directly submitted to the respondent. Data analysis techniques use path analysis with the help of SmartPLS 3 program. The results of this study show that value for money, honesty, transparency and oversight have positive and significant correlation to Regional Financial Management, while Regional Financial Accountability has negative and significant correlation to Regional Financial Management.