Elements of local finance are the finances of municipal unitary enterprises and organizations. The sources of financial resources of the municipality are part of the profits of municipal enterprises, revenues of budgetary organizations from the provision of paid services in the territory in the field of health care, education, and from the rental of municipal property.
Enterprises and organizations of other forms of ownership (other types of subordination) participate in the formation municipal finance through the formation of trust funds used for housing and communal construction, maintenance of economic and financial infrastructure, departmental facilities, financing of various municipal programs.
Municipal finances include insurance funds, formed at the expense of insurance companies and used to finance certain expenses of the territory (elimination of the consequences of natural disasters and catastrophes, financial crises, etc.).
The financial features of state and municipal unitary enterprises are determined by the lack of ownership rights of the enterprise to the property assigned to it. The property of unitary enterprises is not distributed among contributions or equity participation of employees.
The constituent document of unitary enterprises is the charter, which contains the following information:
subject and goals of activity;
the size of the authorized capital and other funds of funds;
procedure and sources of funds formation.
Only state and municipal enterprises can be unitary. A unitary enterprise may own property under the right of economic management or operational management.
A unitary enterprise is managed by a manager appointed by the owner. A unitary enterprise is liable for its obligations with all its property and is not liable for the obligations of the owner of its property.
The decision to create a unitary enterprise based on the right of economic management is made by the authorized state body or local government body, which approves its charter and establishes the size of the authorized and reserve funds. The authorized capital is fully payable by the owner at the time of reorganization of the unitary enterprise. A unitary enterprise is responsible to the owner and creditors for the correspondence of the size of the authorized capital to the size of net assets. The authorized capital is reduced when the size of net assets becomes less than the authorized capital. Creditors of the unitary enterprise are notified of the upcoming reduction in the authorized capital, who may demand termination or early fulfillment of obligations by the debtor, as well as compensation for losses.
The owner of the property of a unitary enterprise based on the right of economic management determines the subject and goals of its activities, exercises control over the use for its intended purpose and the safety of the property belonging to the unitary enterprise. Part of the profit from the use of the property belongs to the owner. Legislative restrictions are established on the sale of real estate transferred to economic management, leasing it, using it as collateral, making it as a contribution to the authorized capital business partnerships and companies, as well as other restrictions on the disposal of property without the consent of the owner.
A subsidiary is a legal entity that manages the property transferred to it by the unitary enterprise - the founder for economic management. The charter of the subsidiary is approved by the founder, who also appoints a manager and determines his powers. On subsidiary the general rule applies according to which the owner of the property does not meet the obligations of the enterprise he created. An exception is the case of bankruptcy of an enterprise caused by its founder, who gives binding instructions or otherwise determines the actions of the legal entity. In this case, if the legal entity’s property is insufficient, subsidiary liability for its obligations can be assigned to the founder.
A unitary enterprise based on the right of operational management is a federal, state-owned enterprise. It is created by decision of the Government of the Russian Federation. Based on federally owned property. The charter of a state-owned enterprise is approved by the Government of the Russian Federation.
The Russian Federation bears subsidiary liability for the obligations of state-owned enterprises if its property is insufficient. Reorganization or liquidation of a state-owned enterprise is carried out only by decision of the Government of the Russian Federation.
The production and financial and economic activities of a unitary enterprise are carried out in accordance with the order plan and plant development plan. The authorized body annually, on the basis of the identified need for products, works, services produced by a unitary enterprise in order to ensure supplies for state needs, fulfill state orders and concluded contracts, approves and communicates to the plant three months before the start of the planned year, mandatory for execution and approval with the Ministry of Economy of Russia and the Ministry of Finance of Russia, an order plan taking into account the development plan of the unitary enterprise.
The order plan establishes the following main indicators:
volume of products, works, services, delivery times, prices and conditions for their change;
the wage fund and standards for its reduction in case of failure to meet the indicators of the order plan, as well as an increase in the wage fund is carried out at the expense of profits according to the standards established by the authorized bodies;
limits on the number of employees;
the amount of funds allocated from the federal budget and the conditions for their provision.
The unitary enterprise, in agreement with the authorized bodies, develops a development plan providing for:
measures necessary to ensure the sustainable operation of the enterprise in fulfilling the order plan and allowing independent financial - economic activity;
tasks for commissioning and decommissioning of production facilities;
assignments for the creation and development of new types of products;
assignment for training and retraining of personnel;
conditions for the implementation of the plan - the development of a unitary enterprise, including financial costs and sources of their development.
Products, works and services produced according to a plan - order, according to which, in accordance with current legislation, is not applied government regulation prices and tariffs are sold at prices and tariffs established by the authorized body.
Products, works and services produced in the course of independent economic activity are sold at prices and tariffs established by the plant, the enterprise independently or on a contractual basis, and in cases provided for by law - at state prices.
AND STATE CORPORATIONS
In the Russian economy, the total share of the public sector, according to the IMF, exceeds 70% of GDP, including state-owned companies (hereinafter referred to as state-owned companies) forming about 29% of GDP. If this state of affairs was to some extent justified during the crisis and then accelerated growth economy until 2011, then today the high degree of state presence in the production and distribution of not only public but also private goods, as a result of which the private sector is crowded out, raises many questions, the dear reader can find answers to some of them in this chapter.
Since, thanks to the functioning of state and municipal unitary enterprises (SUE, MUP) and state corporations (SC), the state participates in economic activities, in this chapter we will get acquainted with the basics of the organizational and legal status and financial features of these organizations, and formulate an idea of the most important financial problems of their functioning and development trends.
As a result of studying the materials in the chapter, the student should:
know:
· fundamentals of the legal status of state unitary enterprises and municipal unitary enterprises, civil corporations;
· features of the organization of finances of state unitary enterprises and municipal unitary enterprises, state corporations
· current problems financial activities of state unitary enterprises and municipal unitary enterprises, civil corporations in Russia and ways to improve it.
be able to:
· explain the features of the organizational and legal status and organization of financial management of SUEs and MUPs, Civil Companies;
own:
· skills of in-depth analysis of the effectiveness of the activities of state unitary enterprises and municipal unitary enterprises, civil companies;
· skills of assessing and predicting the results of the proposed methods of reforming them.
Unitary enterprises
After the collapse of the USSR, one of the most important tasks standing in front of Russian state, began to determine the future fate of former Soviet enterprises. The solution to this problem was significantly complicated by the fact that these enterprises, for the most part, were completely controlled by the state for a long time, which, among other things, was expressed in the establishment of such financial indicators as the size of the authorized capital, revenue volume, costs, profit margin, the volume of the wage fund, the standard of own working capital and a number of others. The activities of most enterprises inherited from the “Soviet era” were associated with the creation finished products, which could be considered as an object for sale to an individual buyer. The functioning of another group of enterprises, as in Soviet times, was aimed at providing services to the population as a collective consumer. Enterprises providing these services had to combine commercial activities with the functional purpose of the state (municipalities), which should have been reflected in the management system and special participation in financial activities.
The above circumstances became the prerequisites for the creation of such an organizational and legal form of enterprises as unitary.
The main laws regulating the activities of unitary enterprises (UEs) are the Civil Code of the Russian Federation (Civil Code of the Russian Federation) and the Federal Law of November 14, 2002 No. 161-FZ “On State and Municipal Unitary Enterprises”. Based on the provisions of these regulations, we will outline the main organizational and legal features of the provisions of the UE.
UE can be of three types:
1. Federal State Unitary Enterprise - FSUE.
2. State unitary enterprise of a constituent entity of the Russian Federation - SUE.
3. Municipal unitary enterprise - MUP.
Unitary enterprise - commercial organization, not endowed with the right of ownership of the property assigned to it by the owner. Such enterprises are called unitary, since their property is indivisible and cannot be distributed among deposits, shares, interests, shares. Only state and municipal enterprises can be created in this form. The property of a unitary enterprise is state-owned and belongs to such an enterprise with the right of economic management or operational management (in the latter case, such unitary enterprises are called state-owned enterprises). The UE is liable for its obligations with all its property. UP is not liable for the obligations of the owner of its property. The corporate name of the UE must contain an indication of the owner of its property. Since, in accordance with paragraph 2 of Art. 50 and art. 113 of the Civil Code of the Russian Federation, unitary enterprises are commercial legal entities, their activities are aimed at generating profit in favor of the owner of the property - the state or municipality, as well as to cover their own expenses. However, the purpose of the UP activity is not to make a profit, but to satisfy the public interests of the state and provide for state needs.
UP are created on the basis of a decision of the authorities of Russia, a constituent entity of the Russian Federation or a municipal entity in accordance with the subject matter, and the constituent document of the UP is the charter. UE is the only type of commercial organization that has not general, but specific legal capacity. In its charter, in addition to general information, indicated in the constituent documents, must contain information about the subject and purposes of its activities. Transactions made by the UE in violation of its legal capacity are invalid (Article 173 of the Civil Code of the Russian Federation). Such enterprises do not have the right to create another unitary enterprise as a legal entity by transferring part of their property to it (subsidiary enterprise). This restriction was introduced by Federal Law No. 161-FZ of November 14, 2002, whereas previously Russian legislation allowed unitary enterprises based on the right of economic management to create subsidiary unitary enterprises. UP are obliged, in cases determined by the owner of the property, to conduct an annual mandatory audit. In this case, an agreement to conduct a mandatory audit of the UP reporting must be concluded based on the results of placing an order through bidding in the form of an open competition or auction, in the manner prescribed by federal law dated July 18, 2011 223-FZ “On the procurement of goods, works, services certain types legal entities."
Since the UE can receive funds both from business activities and from the founder in the form of budget subsidies in accordance with Art. 78 of the Budget Code of the Russian Federation, then the UP, when making expenses from proceeds from commercial activities, are obliged to comply with the requirements of the above-mentioned law No. 223-FZ, and in the case of making expenses in relation to the subsidies received, the UP are subject to the federal law of April 5, 2013 No. 44 -FZ “On the contract system in the field of procurement of goods, works, services to meet state and municipal needs.” It turns out that purchases of UE are mainly carried out according to softer rules regulated by No. 223-FZ. In such conditions, departments transfer procurement to UE, as a result, up to a quarter of budget funds are removed from strict rules, especially in large municipalities. Often, the state customer does not hold tenders, but provides a subsidy to its UE from the municipal budget.
In order to eliminate this practice, the Ministry of Economic Development of the Russian Federation has developed a bill that extends the effect of No. 44-FZ to UP from July 1, 2015. The Ministry of Economic Development believes that the accelerated translation of the UE to rules No. 44-FZ will save budget funds. According to the calculations of this department, in the first year of the law on the contract system, savings doubled. In 2013 (during the period of validity of No. 94-FZ), the price during trading was reduced by 424 billion rubles. (7% of the total order amount), and in 2014 - by 891 billion rubles. (15%).
Summarizing the above, we note that among all commercial organizations, UPs stand out in that they are not built on the basis of membership and are not the owners of their property. The law gives them limited property rights, as a result of which the UE actually uses “other people’s” property for the purposes of commercial activities. This legal structure is a product of the state economy. IN general view, such an organizational and legal form as a legal entity - non-owner, is not characteristic of traditional property turnover; represents an exception to the rule and should gradually be reduced to a minimum.
UEs are represented in many industries, non-production sectors, construction, agriculture and forestry. More than 50% of all unitary enterprises operate in the following industries: agro-industrial complex; transport; science and social sphere; military-industrial complex; civil industry; construction; water, forestry and subsoil use. However, an analysis of the activities of UE suggests that many of them can be transformed, for example, into the form joint stock companies while maintaining the state's share. In particular, such a fate should affect the following largest federal state unitary enterprises: Space Communications, Scientific and Production Center for Gas Turbine Construction Salyut; "Mosfilm Cinema Concern" “Russian Television and Radio Broadcasting Network”, etc. In St. Petersburg, for example, at the beginning of 2014 there were 58 state unitary enterprises, the largest representatives of which are “Petersburg Metro” and “Vodokanal”. The city government, noting the ineffectiveness of the activities of most urban unitary enterprises, envisages a sharp reduction in their number by gradually replacing them by 2017 with other types of organizational and legal forms.
The finances of a unitary enterprise differ to a certain extent from the finances of other organizational and legal forms and, above all, joint-stock companies. These differences consist in the order of formation of the authorized capital, the formation and use of profits, the attraction of budgetary sources of financing and borrowed capital. The authorized capital of a unitary enterprise is formed from the fixed and current assets assigned to it; its size is reflected in the balance sheet of the enterprise as of the date of approval of the charter. The authorized capital of the UE is state property and is managed by the Federal Agency for State Property Management. The size of the authorized capital of a municipal unitary enterprise must be at least 1000 minimum wages, and a state unitary enterprise must be at least 5000 minimum wages. The authorized capital in a unitary enterprise performs the same functions as the authorized capital in other commercial organizations. If at the end of the year the value of the net assets of the unitary enterprise is less than the minimum size of the authorized capital, and within a three-month period their size is not restored to the required value, the owner must make a decision on the liquidation or reorganization of such a unitary enterprise.
An important source the formation of financial resources of the UE is profit. Initially, it is formed in the same order as in other commercial organizations. However, the Budget Code of the Russian Federation defines the profit of a unitary enterprise as a source of non-tax budget revenues, therefore, state unitary enterprises and municipal unitary enterprises annually transfer to the appropriate budget part of the profit remaining at their disposal after paying taxes and other obligatory payments. The procedure, amounts and terms of payments are determined by the Government of the Russian Federation, authorized government bodies of the constituent entities of the Russian Federation and local government bodies.
For example, as follows from the “Rules for the development and approval of activity programs and the determination of the portion of FSUE profits to be transferred to the Federal budget,” approved. By Government Decree of April 10, 2002. No. 228, the portion of the FSUE’s profit for the previous year to be transferred to the federal budget is determined by a decision of the federal body executive branch no later than May 1 and is calculated by reducing the enterprise’s profit for last year remaining at his disposal after paying taxes and other obligatory payments in the amount of expenses approved as part of the enterprise’s activity program for the current year for the implementation of measures for its development, carried out at the expense of net profit.
The procedure for distributing profits in a unitary enterprise is determined by its charter. In accordance with the charter, the part of the net profit remaining after paying mandatory contributions can be used by the enterprise for the following purposes:
Introduction, development of new equipment and technology, security measures environment and labor;
Development and expansion of the financial and economic activities of the enterprise, replenishment of current assets;
Construction, reconstruction, renovation of fixed assets;
Conducting research work, studying market conditions, consumer demand, marketing.
By decision of the owner, part of the net profit remaining at the disposal of the enterprise can be used to increase its authorized capital, to the material incentive fund, the social event fund and other incentive funds.
An important source of financing the costs of the UE are financial reserves created in accordance with current legislation. These organizations can form three groups of reserves created through:
Inclusions in the cost of production;
Balance sheet profit (included in non-operating expenses);
Net profit.
The UP, at the expense of net profit, also creates other funds in accordance with their list and in the manner prescribed by the UP charter. The reserve fund funds can only be used to cover losses; funds credited to other funds can only be used for purposes specified federal laws, other regulatory legal acts and the charter of the UP.
On financial market UEs can raise borrowed funds in the following ways:
By placing bonds or issuing bills;
Attracting loans under agreements with credit institutions.
The issue and subsequent placement of bonds as a way to attract capital has just begun to be adopted by the largest regional unitary enterprises (for example, the issue of five-year coupon bonds of the State Unitary Enterprise Housing and Communal Services of the Republic of Yamburg (Sakha) in the amount of 600 million rubles). However, the active entry of the UE into the bond market is not facilitated by forecasts of profitability of such assets on the market, and the fact that the UE is not the owner of the property makes the use of borrowed funds as sources of financial resources problematic.
A transaction to attract borrowed capital requires preliminary agreement with the owner of the property, both in terms of the volume of borrowings and in terms of the directions of its use.
Thus, the peculiarity of the organizational and legal form of the UE puts it in unequal conditions with other participants in economic turnover due to limited sources of financial resources, including those raised on the stock market. Taking this into account, the owner of a unitary enterprise experiencing a lack of funds can provide government guarantees for attracted financial resources and subsidies. State guarantees are provided only by federal state unitary enterprises (Article 116 of the Budget Code of the Russian Federation). The purpose of providing a subsidy for cost recovery is to compensate the UE for part of the expenses incurred as a result of transactions that are considered by the recipient of the subsidy as a kind of “exception to the rules” of pricing existing in this industry, but in which public legal entities are interested. As a result, the subsidy recipient is compensated for the lost added value due to its use of lower prices.
In addition to subsidies, the sources of formation of the property of the UE are: voluntary contributions and donations from organizations, enterprises, institutions and citizens; as well as other sources that do not contradict the legislation of the Russian Federation, including income from leasing property. As for the rights of the unitary enterprise regarding the disposal of the property transferred to it, it has the right to dispose only of the active part of fixed assets, which includes machinery and equipment, vehicles, tools, but only to the extent that does not deprive it of the opportunity to carry out statutory activities.
As noted above, in accordance with current legislation, as enterprises with a state share exceeding 25%, UEs are required to undergo mandatory annual audits during which the indicators of the financial and economic activities of the UE are assessed. Based on the results of the inspection, the owner can decide on the advisability of leaving this unitary enterprise in state (municipal) ownership or privatizing it. Turning to this topic, we note that, in our opinion, it is necessary to introduce principles of personal responsibility of directors of the enterprise for the level of various performance indicators of the enterprise. Thus, when concluding a contract with the appointed director of the management company, it is necessary to determine in this contract that the level of his remuneration will completely depend on the level of achieved KPIs (key performance indicators - English). key indicators efficiency), such as: profit margin, profitability level, net cash flow and a number of others. However, this issue touches on the topic of the effectiveness of the PM, which will be discussed further.
In the Russian Federation, according to the Federal Tax Service of Russia, as of December 31, 2014, there are about 2 thousand federal state unitary enterprises, 10 thousand state unitary enterprises, and about 400 thousand municipal unitary enterprises. At the same time, about 40% of state unitary enterprises are unprofitable, and another 22% operate with profitability close to zero. The results of MUP activities are assessed even lower. At this time, similar UE organizational and legal forms of enterprises in European countries such as England, Germany, France are much more effective in terms of profit and profitability indicators.
The activities of the Unitary Enterprise are one of the most pressing problems that contribute to the development of corruption and hinder the development of competition, as noted in the report “On the State of Competition” posted on the website of the Federal Antimonopoly Service (FAS). In this report, you can familiarize yourself with the main ways of misuse of budget funds through the UE.
An analysis of the functioning of unitary enterprises shows that most of them are in fact business units, which entails a double negative effect. On the one hand, the ability to manage income creates an incentive for the UE to provide paid services, rather than improving the quality of its core activities. On the other hand, UEs distort competition, because have numerous benefits that do not apply to their competitors. In particular, these include free disposal of property complexes, equipment, land and real estate.
In addition, UEs are often a tool for improper disposal of state and municipal property. Such possible inappropriate actions include:
1) transfer of land plots for lease through non-transparent procedures with the subsequent construction of residential or non-residential facilities and the pre-emptive right to purchase land under owned facilities;
2) illegal alienation of real estate by introducing such property into the authorized capital of the companies they create with the subsequent sale of the companies along with the transferred property;
3) the impossibility of the owner’s withdrawal of property transferred to the unitary enterprise for economic management without their consent due to imperfect legislation (Article 295 of the Civil Code of the Russian Federation does not provide the owner with an unconditional right to withdraw property assigned to the unitary enterprise only if there are certain grounds - Article 299 of the Civil Code of the Russian Federation);
These circumstances were the reason why the Program for Improving the Efficiency of Public (State and Municipal) Finance Management for the Period until 2018 was approved. Order of the Government of the Russian Federation dated December 30, 2013 No. 2593-r provided for in cases of discrepancy between the activities of the unitary enterprise and the activities of its founder, the reorganization of the unitary enterprise into budgetary institutions (business companies) or their liquidation. At the same time, the FAS RF in the Strategy for the Development of Competition and Antimonopoly Regulation in Russia for the period 2013–2024. adopted in 2013, provided for the liquidation of unitary enterprises “in all competitive sectors of the economy, with the exception of enterprises operating in the field of defense and security of the country.”
Taking into account the above circumstances, indicating the ineffectiveness of the activities of unitary enterprises in Russia, we will formulate the main proposals for improving the activities of state and municipal enterprises
1) in order to increase the efficiency of management of state (municipal) property and public finances, unitary enterprises, the activities of which do not correspond to the functions of the relevant government body (local government body), must be reorganized or liquidated. To do this, it is necessary to develop criteria for making decisions on the preservation, transformation, corporatization or liquidation of the unitary enterprise;
2) transfer the property of the unitary enterprise, not used for the implementation of public functions, into state ownership with subsequent privatization or the formation of a property fund for leasing to small and medium-sized enterprises;
3) create equal conditions for competition between private enterprises and private companies, primarily in the market social services and in the housing and communal services sector;
4) expand the use of concession agreements for the use of competitive markets property in state or municipal ownership.
The need for the most decisive transformation of UE, accompanied by a large-scale reduction in their number, is, in our opinion, obvious. From the point of view of budgetary efficiency, reducing the number of unitary enterprises would be extremely useful: in addition to the fact that the budget would not have to allocate funds for the maintenance of de facto commercial organizations, their privatization could bring additional income.
However, the privatization rates achieved to date remain extremely low. According to the Federal Service state statistics, the number of privatized property complexes in UP during 2010-2013. was no more than 0.25%. The low pace of privatization of unitary enterprises is associated, among other things, with powerful opposition from their leaders, who have significant lobbying capabilities in government structures.
The above circumstances make the task of reforming the PM system one of the highest priorities in terms of ensuring higher rates of financial development of the country, which is critically important in the context of the economic crisis.
In addition, an alternative to radical reform of the PP may be the use of PP in public-private partnership (PPP) projects, which, by attracting private business, provides higher efficiency indicators in the use of state property. The development of PPP in Russia should be facilitated by the adoption of an appropriate federal law. Thanks to the adoption of this act, UEs will be able to participate in authorized capital SPV companies created jointly with private investors (special purpose vehicle - English company created to implement a specific project). By participating in such a project, UEs will be able to act as the actual customer of the infrastructure project. On the contrary, the scope of activity of the second SPV participant will be related to the attraction of private investors (payers) and the actual implementers of the project. Direct control of the UP over the activities of partners in the SPV due to the predominant participation in the authorized capital will make this type of PPP transparent with financial point vision, and will also allow the state to increase the efficiency of using UE as a business entity/
State corporations
The first state corporation in Russia was the Agency for the Restructuring of Credit Institutions (ARCO), which arose in 1999 and was liquidated in 2004. In 2003, the second SC, the Deposit Insurance Agency, appeared. In 2007, the campaign to create state corporations in Russia entered its most active phase - that year 6 state corporations were created. Taking into account the fact that in 2010 Rusnano was reorganized from the form of a State Corporation into an OJSC, 6 Group Companies operate in Russia in 2015, Table. 8.2.1.
Table 8.2.1. List of state corporations in Russia (as of March 1, 2015)
| Name | Federal law | Types of activities |
| 1. Deposit Insurance Agency | No. 177-FZ dated December 23, 2003 | Compulsory insurance |
| 2. Vnesheconombank | No. 82-FZ dated May 17, 2007 | Banking, consulting, insurance, securities |
| 3. Olimpstroy | No. 238-FZ dated October 30, 2007 | Construction and operation of Olympic facilities |
| 4. Rosatom | No. 317-FZ dated December 1, 2007 | Production of electricity at nuclear power plants, nuclear materials, control over fissile materials |
| 5. Russian Technologies | No. 270-FZ dated November 23, 2007 | Consulting, financial intermediation |
| 6. Fund for Assistance to Housing and Communal Services Reform | No. 185-FZ dated July 21, 2007 | Distribution of public funds |
The functioning of the Civil Code is a kind of “trademark” of the Russian economy. A number of experts sharply criticize this situation. In this regard, we will try to evaluate, first of all, the effectiveness and relevance of the existence of such an organizational and legal form as the Civil Code. In particular, it is important to note that state corporations are not mentioned in the Civil Code (Civil Code of the Russian Federation). A state corporation is one of the organizational and legal forms of a non-profit organization. In accordance with paragraph 1 of Art. 50 Civil Code of the Russian Federation, non-profit organizations– these are legal entities that do not have profit as their main goal and do not distribute the resulting profit among participants. According to paragraph 3 of the same article: “non-profit organizations can carry out entrepreneurial activities only insofar as it serves the achievement of the goals for which they were created and is consistent with these goals.” The Civil Code of the Russian Federation lists some types of non-profit organizations, but does not mention the Civil Code.
The definition of the term “state corporation” is contained in Art. 7.1. Law No. 7-FZ “On Non-Profit Organizations” dated January 12, 1996 (as amended on July 8, 1999 No. 140-FZ). Let us remind the attentive reader of the contents of this article:
1. A state corporation is a non-profit organization that does not have membership, established by the Russian Federation on the basis of a property contribution and created to carry out social, managerial or other public activities. useful functions. The Civil Code is created on the basis of federal law.
Property transferred to a state corporation by the Russian Federation is the property of the state corporation.
The Civil Code is not responsible for the obligations of the Russian Federation, and the Russian Federation is not responsible for the obligations of the state corporation, unless otherwise provided by the law providing for the creation of the Civil Code.
2. The Civil Code uses property for the purposes determined by the law providing for the creation of a state corporation. A civil company can carry out entrepreneurial activities only insofar as it serves the achievement of the goals for which it was created and is consistent with these goals.
Control over the activities of the Civil Code is carried out by the Government of the Russian Federation on the basis of the annual submission by the corporation of an annual report, an audit report, as well as the conclusion of the audit commission based on the results of an audit of the financial statements and other documents of the corporation. According to most laws on state corporations, the head of the State Corporation is appointed by the President of the Russian Federation. The President, the Government of the Russian Federation, and also partially deputies of the State Duma form supervisory boards that, together with the board and the general director, control the activities of state corporations. The internal financial control body is the audit commission.
Based on the analysis of the provisions of Law No. 7-FZ “Non-profit organizations” dated January 12, 1996, revealing the most important features of the legal status of state corporations, the following can be noted:
1. Due to some ambiguity in the wording of paragraph 1 of Art. 7.1. No. 7-FZ “Non-profit organizations” dated January 12, 1996, at the moment there are no fundamental legal restrictions on the goals and functions of the Civil Code, except for the restrictions contained in the Constitution of the Russian Federation and federal constitutional laws. Thus, the Civil Code cannot perform the functions of executive power directly (this would be contrary to Article 110 of the Constitution of the Russian Federation), but it can perform functions in the field of regulation and control.
2. Property and funds transferred to a state corporation by its founder, the state, cease to be an object of state ownership, and control over the activities of the State Corporation in terms of property management is carried out by the Accounts Chamber of the Russian Federation at its discretion.
3. Absent general mechanisms organization, legal regulation of the Civil Code and control of the founder over their activities. For each of them, these issues are regulated by a separate federal law. Actually regulatory regulation The Civil Code is replaced by an individual legal one, and thus these structures are taken out of the regular legal field.
4. Unlike state unitary enterprises, civil corporations are largely removed from the control of a number of government bodies. Civil companies are not required to submit documents containing a report on their activities to government bodies (with the exception of a number of documents submitted to the Government of the Russian Federation). State bodies without the consent of the Civil Code cannot send representatives to participate in events held by the corporation; carry out checks on the compliance of the corporation’s activities and its expenses, including the expenditure of funds and the use of other property, with the purposes provided for by its constituent documents.
An analysis of the federal laws on the creation of each Civil Code in order to determine the mechanisms that ensure control over their activities by the founder allowed us to draw the following conclusions:
· Most of the laws on the creation of the Civil Code either lack criteria for assessing the degree of achievement of legally established goals (Rostechnologies and DIA), or the criteria turn out to be lower than the already stated goals and do not allow monitoring the degree of their achievement (Rosatom and Vnesheconombank).
· For most civil corporations, laws do not provide for medium- and long-term planning procedures.
· Civil Code laws do not contain fixed procedures and criteria for assessing the effectiveness of the activities of heads of state corporations and their supervisory boards. Also, the laws do not establish possible sanctions for failure to implement the activity programs of the Civil Code and the discrepancy between the actual values of indicators and the target values, as well as procedures for revising programs in such cases at the initiative of the founder.
The conclusion may seem harsh, but the creation of such an organizational and legal form as the Civil Code is an ambiguous way of reorganizing state property into the non-state sector with minimal financial benefits for the state and increased risk uncontrolled use of assets.
Finance of state corporations can be defined as specific form public finance, formed to perform the functions of the state. However, it should be noted that, to a large extent, the finances of state corporations represent a form of public finance only in name; in reality, the funds of state corporations are owned by the corporations themselves. Property and funds transferred to a state corporation by its founder cease to be an object of state property and acquire the status of public property, not provided for by civil legislation. The directions for spending funds of state corporations differ in their originality, due to the need to implement public functions. Thus, Civil Codes are subject to both No. 223-FZ “On the procurement of goods, works, services by certain types of legal entities” dated July 18, 2011, and No. 44-FZ “On the contract system in the field of procurement of goods, works, services for meeting state and municipal needs” dated 04/05/2013. At the same time, state corporations, in the event of receipt of budget funds, are obliged to act based on the provisions of No. 44-FZ. Income received through other activities may be spent on purchases, the procedure for which is regulated by No. 223-FZ.
The main source of formation of the property of the Civil Code is the property contribution of the Russian Federation. The property of the Civil Code is owned by the corporation itself. In cases and in the manner established by the relevant federal law providing for the creation of a civil corporation at the expense of part of its property, an authorized capital may be formed, which determines minimum size property of the Civil Code, guaranteeing the interests of its creditors.
The property contributed to the Civil Code as a property contribution is budget funds and/or property of the transferred organizations. Thus, Rusnano received a property contribution of the Russian Federation in the amount of 130 billion rubles, the Fund for Assistance to the Reform of Housing and Communal Services - 240 billion rubles, the Deposit Insurance Agency - 209 billion rubles, Olympstroy - 242 billion rubles, and Russian Technologies - 439 enterprises as a property contribution . In addition, the sources of property of state corporations are: budget financing in the form of subsidies, for some state corporations - federal funds targeted programs, federal targeted investment program; voluntary property contributions and donations; dividends received on shares and other securities; profit received from the sale of goods, works and services; commercial lending; bond loans. All corporate companies must place their temporarily available funds in Russian securities and other financial instruments that have a sufficient degree of reliability from the state’s point of view.
State corporations are subject to general rules taxation of non-profit organizations with some exceptions for income tax. Tax benefits due to the specifics of the formation of finances of the Civil Code.
Group companies are different in nature; their activities combine commercial and social aspects. As noted above, the legally established non-profit status of civil corporations does not prohibit them from engaging in commercial activities. Rosatom State Corporation manages all nuclear assets in Russia, thereby carrying out not only commercial activities for the sale of nuclear power plants, but also ensuring nuclear deterrence, radiation safety, etc. Some of the enterprises of the State Corporation "Russian Technologies" are defense, and, thus, this state corporation is entrusted with the tasks of ensuring national security. The commercial component is manifested in the production of military products, as well as civilian products created on the basis of military production. The Olimpstroy Group of Companies was created for the construction and operation of the Olympic infrastructure in Sochi, on the assumption that the implementation of these tasks would be profitable for the Olimpstroy Group of Companies (over 1 billion rubles). However, an analysis of the orders of the Government of the Russian Federation dated April 2, 2012 No. 424-r and dated December 2, 2013 No. 2243-r suggests that this project is actually unprofitable. Loans from VEB Group of Companies issued to builders for the creation of Olympic infrastructure facilities are unprofitable already due to the recognition, even before the Olympics, of a negative difference between the sale price of these objects of VEB Group of Companies as the subject of collateral and the actual amount of the loan compensated by subsidies received by VEB from the 2014 Federal Budget . The sports facilities created by the Olimpstroy Group of Companies, due to their ineffectiveness, are transferred to the ownership of the Russian Federation, the Krasnodar Territory and the administration of the city of Sochi for use in the interests of public legal entities.
However, the question arises why the above tasks, for the implementation of which the Civil Codes were created, could not be achieved using existing mechanisms, including the participation of the state in the authorized capital of traditional organizational and legal forms, state orders, etc. As noted in the Report “State-owned corporations in modern Russia", prepared by Expert
Introduction
1. Modern economists on the peculiarities of organizing finances of state and municipal unitary enterprises
Conclusion
Introduction
A modern state enterprise fulfills completely different goals and objectives than similar enterprises of the Soviet period, when enterprises in all sectors were owned by the state. The need to create unitary enterprises is dictated by the mandatory participation of the state in market relations, the development of which requires restriction or prohibition of entrepreneurial activities of citizens and legal entities created on the basis of private property, in certain areas and industries.
Thus, the problem of effective formation and use of financial resources is relevant both at the enterprise level and at the level of the economy as a whole.
The purpose of this work is to consider the features of finance of unitary enterprises and analyze the efficiency of the formation and use of financial resources and find ways to improve it.
Objectives of this work:
consider theoretical aspects of the organization of finances of a unitary enterprise;
consider theoretical aspects of assessing the formation and use of financial resources;
define organizational structure enterprises to analyze the main indicators of the functioning of the enterprise;
analyze the efficiency of the formation and use of financial resources in the enterprise;
develop ways to increase the efficiency of the formation and use of financial resources in the enterprise.
The object of the study is the FSUE "Rosstroy" enterprise and the results of its activities for 2006-2008.
The subject of the study is the finances of the FSUE “Rosstroy” enterprise and the efficiency of their formation and use.
The first chapter of the work highlights the theoretical aspects of the organization of finances of a unitary enterprise, identifying the main problems in the development of finances of unitary enterprises from the point of view of economists.
The second chapter of this work discusses the structure and functions financial service unitary enterprise, their relationship is reflected.
The third chapter analyzes the state of financial resources and provides ways to increase the efficiency of the formation and use of financial resources.
When writing course work Various legislative acts, textbooks on enterprise finance and economic analysis of enterprise activities were used.
1. Modern economists on the peculiarities of organizing finances of state and municipal unitary enterprises.
Finance (from Latin financia - cash, income) - totality economic relations arising in the process of formation, distribution and use of centralized and decentralized funds of funds. This is an economic category determined by the presence of commodity-money relations and the state, since commodity production exists, the laws of value, demand and supply operate, and an objective need arises for the distribution of the total social product and national income through finance. The specificity of finance as an economic category is manifested in the fact that it always appears in monetary form, has a distributive nature and reflects the processes of formation and use of various funds of funds.
Enterprise finance is a set of monetary relations that arise among business entities regarding the formation of funds of funds, their distribution and use for the needs of production and consumption.
The following forms of manifestation of enterprise finance can be distinguished:
relations with other business entities in the process of generating and distributing revenue (intangible relations):
Fines, penalties, penalties;
Lease relationships;
Issue and sale of securities;
Joint activities;
Commercial lending;
Relations with employees regarding payment of wages;
financial relations with its own structural divisions. This also includes relations within production associations and relations of enterprises with their subsidiaries;
relations with the tax service;
relations with the banking system;
relations with various insurance companies;
relations with government bodies.
Thus, finance is counter flows of funds, services, various forms of manifestation of the interests of the enterprise on the one hand and the movement of means of payment on the other.
In the field of finance of enterprises and organizations, the following parts of the financial system are distinguished:
finance of enterprises and organizations operating on a commercial basis;
finance of enterprises and organizations engaged in non-commercial activities;
finances of state and municipal enterprises;
finances of public organizations (associations).
Commercial organizations in accordance with Art. 50 of the Civil Code of the Russian Federation are those legal entities that pursue profit as the main goal of their activities.
Non-profit organizations are those organizations that do not aim to make a profit and do not distribute commercial profits among participants. Legal entities that are non-profit organizations can carry out entrepreneurial activities only insofar as this serves to achieve the goals for which they were created and to which they correspond.
Non-profit organizations can be created in the form of consumer cooperatives, public or religious organizations (associations), charitable foundations, state enterprises, municipal unitary enterprises and in other forms provided by law.
In accordance with the Federal Law “On State and Municipal Unitary Enterprises” dated November 14, 2002 No. 161-FZ, a unitary enterprise is recognized as a commercial organization that is not vested with the right of ownership of the property assigned to it by the owner. Only state and municipal enterprises can be created in the form of unitary enterprises. The property of a unitary enterprise belongs by right of ownership to the Russian Federation, a constituent entity of the Russian Federation or a municipal entity.
State and municipal unitary enterprises (hereinafter referred to as GMUP), in the course of commercial activities, own and use someone else’s (state, municipal) property, which belongs to them by the right of economic management or operational management, and therefore these enterprises must transfer to the owner of the property part of the profit from its use .
In the Russian Federation they are created and operating the following types unitary enterprises:
unitary enterprises based on the right of economic management - a federal state enterprise and a state enterprise of a constituent entity of the Russian Federation, a municipal enterprise;
unitary enterprises based on the right of operational management - a federal government enterprise, a government enterprise of a constituent entity of the Russian Federation, a municipal government enterprise (hereinafter referred to as a government enterprise).
Unitary enterprises should be distinguished from budgetary institutions, to which state and municipal property is also transferred under the right of operational management. Despite the fact that both enterprises and institutions are created by the decision of the founder and are endowed with certain property, they have different purposes for creation. An institution is a non-profit organization whose main goal is to carry out managerial, socio-cultural and other functions of a non-commercial nature. Institutions are financed in whole or in part by their founder.
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A unitary enterprise is a commercial organization whose main purpose is to generate profit in the interests of its founder. However, unlike other commercial organizations, making a profit is not the primary goal of a unitary enterprise, since state entrepreneurship is carried out primarily to implement the functions of government bodies.
The financial resources of any economic entity, according to their sources of formation, are divided into their own, those mobilized in the financial market and those received through redistribution.
Financial mechanism The activities of GMUP theoretically involve the use of both internal (depreciation, profit) and external (targeted budget financing, borrowed funds, including loans from banks and other credit organizations) sources of financing.
The fundamental difference between unitary enterprises and joint stock companies is the absence of external sources financing the issue of shares, since the very organizational and legal form of a unitary enterprise does not allow the possibility of distributing property among deposits (shares, shares), and, consequently, issuing equity securities. At the same time, the possibilities for obtaining additional funds from centralized sources - the budget and targeted extra-budgetary funds - are more varied. Resources used in the activities of an enterprise on an indefinite and free basis in the form of an authorized capital, depreciation or profit are not, in the legal sense, their own resources. However, the nature of their formation and use allows us to classify them as proprietary funds.
The authorized capital of the GMUP determines the minimum amount of its property, guaranteeing the interests of its creditors. It can be formed at the expense of money, as well as securities, other things, property rights and other rights that have a monetary value. Federal laws or other regulatory legal acts may determine the types of property at the expense of which the authorized capital of a state or municipal enterprise cannot be formed. The size of the authorized capital of a state or municipal enterprise is determined in rubles.
The size of the authorized capital of a state enterprise must be no less than 5,000 minimum wages established by federal law as of the date state registration enterprises. The size of the authorized capital of a municipal enterprise must be no less than 1,000 minimum wages established by federal law as of the date of state registration of the enterprise.
In a state-owned enterprise, an authorized capital is not formed. The activities of a state-owned enterprise are carried out in accordance with the estimate of income and expenses approved by the owner of the property of the state-owned enterprise.
The second important source of property formation is the profit received from the commercial activities of the enterprise, which represents one of the forms of net income. The net income created by unitary enterprises belongs entirely to the state, since the basis for its receipt is state ownership. There are three approaches to using it:
centralization of all net income in the state budget;
leaving all income at the disposal of enterprises;
centralization of part of net income.
The method of distribution and use of net income is determined current system management. In Russia, the centralization of the net income of unitary enterprises is carried out by two methods: taxation of profits and the establishment of mandatory annual deductions from profits.
An important source of financing the expenses of the GMUP are financial reserves created in accordance with current legislation. Currently, commercial organizations can form three groups of reserves:
reserves created by inclusion in the cost of production;
reserves created by balance sheet profit(included in non-operating expenses);
reserves created from net profit.
A unitary enterprise, at the expense of net profit, also creates other funds in accordance with their list and in the manner provided for by the charter of the unitary enterprise. Funds credited to such funds can be used by a unitary enterprise only for the purposes determined by federal laws, other regulatory legal acts and the charter of the unitary enterprise.
In the financial market, GMUE can raise borrowed funds in the following ways:
loans under agreements with credit organizations;
placement of bonds or issuance of bills.
GMUP can use state support in the form state aid: budget funds (subsidies, subventions) and budget loans.
The peculiarities of the formation and use of financial resources of GMUP are largely determined by the procedure for the formation and use of their property.
The GMUP Charter defines the main sources of property formation, which include:
property transferred by decision of the property owner: to state and municipal enterprises as a contribution to the authorized capital or to economic management; state-owned enterprises in operational management;
property acquired by an enterprise at the expense of profits received as a result of economic activities remaining at the disposal of the enterprise;
property acquired by an enterprise using borrowed funds, including loans from banks and other credit organizations;
property acquired or created at the expense of funds received by the enterprise from the budget on a non-repayable basis for capital investments of the enterprise;
property acquired or created through targeted budget financing in the form of transfers, funds received by the enterprise in the form of budget loans;
property acquired at the expense of other income (rent, depreciation, voluntary contributions).
At this stage of development, state and municipal unitary enterprises have a number of problems related to the economic efficiency of the enterprise. Below we give examples of problems in the development of state and municipal unitary enterprises, as well as the opinions of economists on these problems.
1. Privatization of state and municipal enterprises (Mikheev A.A. Deputy Chairman of the Commission on Investment Programs under the Moscow Government, Candidate of Economic Sciences)
The Concept of State Property Management and Privatization in the Russian Federation (hereinafter referred to as the “Concept”), approved by Decree of the Government of the Russian Federation N 1024 of September 9, 1999, for the first time since 1992, determined the priority of the problem of state property management. This problem implied a change in the form of ownership of state and municipal unitary enterprises.
The document contains a focus on a gradual quantitative reduction of these facilities while simultaneously implementing a set of measures to improve their management.
The Concept provides for the development of a whole set of measures to regulate by the state the mechanism for implementing the right of economic management. Much attention is paid to taking into account the interests of the state, as the owner of unitary enterprises, based on building a system of relationships with their managers, stimulating effective activity the latter in the interests of the owner and ensuring direct management of the relevant property by the state.
In the public sector of the economy, according to the State Statistics Committee of the Russian Federation, by January 1, 2000, i.e. soon after the adoption of the Concept, there were about 72 thousand enterprises and organizations, among which there were 21,574 state unitary enterprises (federal and constituent entities of the Russian Federation), government institutions - approximately 45 thousand, business companies with state participation (more than 50% authorized capital) - about 5 thousand. State unitary enterprises accounted for more than 70% of the number of enterprises and organizations of the public sector in such industries as housing and communal services (HCS), trade, transport, construction.
For the period 2000-2001. the number of federal state unitary enterprises decreased by about a third: from 13,786, as indicated in the Concept, to 9,394 (as of January 1, 2002). For comparison, let us point out that the number of federal government institutions (FSI) over the same period increased from 23,099 to 34,926 (i.e., more than one and a half times). The number of business companies with state participation in capital has increased, although not to the same extent.
Concerns periodically expressed by state authorities about the efficiency of disposing of state property transferred to the economic management of unitary enterprises had almost no effect on the relationship of these enterprises with the state.
Despite all the differences in approaches to the situation in various departments, it can be noted that the possibility of privatizing federal state unitary enterprises through their corporatization was allowed only for no more than 15-20% of their total number. The probability of transferring federal state unitary enterprises to the ownership of constituent entities of the Russian Federation looked even weaker.
In general, it can be argued that the plans for the reorganization of subordinate unitary enterprises developed by sectoral management bodies are aimed at preserving the bulk of them in their existing organizational and legal form in the same or changed (after annexation or merger) form.
Initially, it was assumed that the privatization of unitary enterprises (through corporatization and sale of property complexes) would become the main direction of their reorganization. However, in practice this process was extremely slow (Tables 1, 2).
Table 1 - Data on the privatization of federal state unitary enterprises in 2005.
Table 2 - Problems hindering the privatization of state unitary enterprises
Continuation
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A serious shortcoming in the regulation of the activities of state-owned enterprises has been corrected: a procedure has been adopted for approving the activity programs of federal state unitary enterprises and determining the part of their profits to be transferred to the federal budget. The efforts of government bodies to implement the state’s right to a portion of the profits of unitary enterprises have brought certain results. However, we can already conclude that receiving part of the profit from state unitary enterprises can hardly be considered as a significant and promising source of budget revenues.
2. The problem of regulating relations regarding municipal property (Terehov N.A., Chairman of the Committee for Municipal Property Management)
The purpose of municipal property management is to ensure the revenue side of the local budget to solve the socio-economic problems of municipalities, improve the well-being and living standards of the population, and create a favorable environment for attracting investment in the municipal sector of the economy. In addition, the municipality’s own economic activities are carried out not only in the interests of generating income and solving socio-economic problems, but also in order to regulate general economic turnover.
According to the Federal Law of October 6, 2003 No. 131-FZ “On the General Principles of the Organization of Local Self-Government in the Russian Federation,” only three categories of property can be owned by municipalities:
1) property intended to resolve issues of local importance established by this Federal Law;
2) property intended for the implementation of certain state powers transferred to local governments, in cases established by federal laws and laws of constituent entities of the Russian Federation;
3) property intended to support the activities of local government bodies and local government officials, municipal employees, employees of municipal enterprises and institutions in accordance with the regulatory legal acts of the representative body of the municipality.
Article 50 of the Law establishes the intended purpose of municipal property. This regulation corresponds to the special status of municipalities as public legal entities and the associated features of the participation of municipalities in civil legal relations. This fundamental provision is reflected not in the form of establishing criteria for the admissibility of municipal ownership of objects, but by fixing a detailed and closed list of property that can be owned by municipalities of different types.
Such an approach may lead to the need to introduce amendments and additions to Article 50 of the Law (possibly by changing its legal structure), since the adoption by municipalities of additional issues of local importance may require the creation (acquisition) of municipal property objects not included in the list.
A legally established closed list of municipal property is advisable only if in the future it is expected that the existing socio-economic state of municipalities will be maintained, and the possibility of developing and implementing strategic plans for their development is not provided for, which significantly limits the ability of municipalities to increase income through this component , as well as on the development market mechanisms use of land and property.
Local government bodies of each municipality have the right to independently decide what types of municipal property, within the list defined by federal law, they need to resolve issues of local importance.
In cases where municipalities acquire ownership rights to property that does not belong to any of the above categories, this property is subject to repurposing (change intended purpose property) or alienation. By January 1, 2009, local government bodies had to implement in the manner provided for by law on privatization, alienation or repurposing of municipal property that does not belong to any of the above categories and is in municipal ownership on the date of entry into force of the specified Federal Law.
These provisions of the Federal Law create legal guarantees providing for the use of municipal property in order to meet the needs of the population of the municipality. At the same time, it is necessary to take into account that in this case local governments are deprived of additional leverage on the development of the municipal sector of the economy, as well as part of the income coming to local budgets from the use of municipal property.
With the emergence of new, independent subjects of municipal property law (different types of municipalities), the question arises about the division of property between them, as well as the problem of establishing a list of property objects necessary for each municipal formation, determining the criteria for classifying property as objects of law of a particular municipal entity.
Federal laws of October 6, 2003 No. 131-FZ “On the general principles of the organization of local self-government in the Russian Federation” and of July 4, 2003 No. 95-FZ “On amendments and additions to the Federal Law “On the general principles of the organization of legislative (representative)” and executive bodies of state power of the constituent entities of the Russian Federation" provide for the redistribution of property between the Russian Federation, constituent entities of the Russian Federation, municipalities in accordance with the division of powers between government bodies of all levels established by these federal laws. At the same time, the Government of the Russian Federation and state authorities of the constituent entities of the Russian Federation, until January 1, 2006, ensure the free transfer to municipal ownership of property that is respectively in federal ownership and the property of a constituent entity of the Russian Federation, intended to resolve issues of local importance in accordance with the specified Federal Law.
In turn, until January 1, 2006, local government bodies shall ensure the free transfer into federal ownership and the ownership of constituent entities of the Russian Federation of municipally owned property intended for the exercise of powers of federal government bodies and government bodies of constituent entities of the Russian Federation in accordance with the division of powers established from January 1, 2006 by this Federal Law and other federal laws.
To ensure this process, it is necessary to conduct an inventory of the transferred property; establish the responsibility of government authorities at all levels for the safety and operation of property before and after transfer; conditions and methods for resolving emerging conflicts; mechanisms for the transfer of unused objects owned by other authorities.
In order to implement these provisions, it is necessary to adopt federal laws establishing the procedure for the alienation of the above property, as well as the specifics of the emergence, exercise and termination of the right of municipal property, as well as the procedure for accounting for municipal property. In addition, in connection with changes in the territorial structure of local self-government provided for by the reform of federal relations and local self-government, the Government of the Russian Federation needs to establish the basis for delimiting the obligations arising from local government bodies in the order of succession, as well as the procedure and timing for drawing up a transfer (separation) act.
3. Low economic efficiency of municipal unitary enterprises (Molchanova O.V., Deputy Director of the Department of Economics and Finance).
Federal Law No. 168-FZ of November 14, 2002 “On State and Municipal Unitary Enterprises” in Art. 8, although not entirely clearly, formulated the goals of preserving and creating these organizations, regulated the legal status of a municipal unitary enterprise, the rights and obligations of the owners of their property, introduced a number of innovations regarding the procedure for managing a unitary enterprise, as well as requirements for the head of a unitary enterprise.
At the same time, in a number of cases municipal unitary enterprises operate without current plans coordinated with executive authorities, clearly defining the purpose of their activities and development strategy. The low quality of management of municipal unitary enterprises in modern Russia is associated with the lack of a clear definition of the goals of the operation of these enterprises, the insufficient scope of rights of the owner (represented by local governments) in the development of the current policy of the enterprise and the lack of control over the implementation of intended tasks, which leads to inappropriate use of profits and depreciation, destruction of fixed assets.
As follows from the currently valid Federal Law “On the General Principles of the Organization of Local Self-Government in the Russian Federation”, the relationship between local government bodies and enterprises that are not municipally owned, including in the field of municipal property management, is built on the basis of contracts. At the same time, every municipal entity is interested in the comprehensive socio-economic development of its territory, therefore, according to the legislation of the Russian Federation, municipal authorities are vested with the right to coordinate the activities of relevant economic entities on issues of trade, land use, urban planning, environmental protection, etc. Local government bodies participate in bankruptcy cases of city-forming enterprises and in resolving issues of their financial recovery or external management, and their interests are taken into account during the privatization of municipal enterprises.
Currently, the Budget Code of the Russian Federation defines certain requirements that must be applied by local governments when purchasing goods, works and services for municipal needs, placing municipal contracts on a competitive basis, and maintaining a procurement register. At the same time, to create a system of municipal procurement in all municipalities, the most acceptable would be the adoption of a separate federal law providing for a framework legal regulation the above questions. This law should establish general requirements for the procedure for the formation, placement, execution and control of the execution of a municipal order.
Another, broader aspect of the relationship between municipal authorities and private and other non-municipal enterprises located on their territory is related to the receipt of income from their activities into the local budget. It is clear that in order to expand the tax base it is necessary to increase the number of business entities receiving income.
The current situation is such that most large state-owned and privatized enterprises are idle due to the lack of demand for their products, while constantly cutting jobs and increasing their debts to local and state budgets. To increase production efficiency, expand markets for goods and services, create new jobs with the participation of municipal unitary enterprises, municipal banks and other credit organizations, a financial and industrial group can be created in the territory of the relevant municipality in accordance with the Federal Law of November 30, 1995 “On financial and industrial groups.”
According to the data presented in the development plan for the state and municipal sectors of the economy for 2006, the share of cash income from the use of municipal property in the total own income local budgets is insignificant and amounted to 4.2 percent in the Russian Federation as a whole in 2005, it is planned to receive 4 percent in 2006, and according to the forecast for 2007 - 4.8 percent.
Continuation
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In this regard, the task of increasing the efficiency of use of municipal property still remains. This problem must be solved by:
Optimizing the number of municipal unitary enterprises and institutions through their reorganization, liquidation or clarification of activities based on analysis, as well as the creation of new organizations depending on the needs of the relevant territories;
Ensuring a complete inventory of municipal property, conducting state registration of rights to municipal property;
A clear definition of the rights to use municipal property and the powers of users based on the Regulations on municipal property;
Introductions unified register lease agreements and accounting of real estate municipal property leased, as well as adjustments to the amount of rent based on market prices;
Improving the legal framework regulating land relations, developing the land market and monitoring the use of land plots.
2. Structure and functions of the financial service of a unitary enterprise
The main governing body accepting strategic decisions in the sphere of financial and economic activities of the enterprise, is the owner of the property of the unitary enterprise.
The owner of the property of a state or municipal enterprise in relation to the finances of the enterprise exercises the following powers:
forms the authorized capital of a state or municipal enterprise;
gives consent to the disposal of real estate;
approves the program of activities, indicators economic efficiency activities of a unitary enterprise and controls their implementation;
makes decisions on conducting audits, approves the auditor and determines the amount of payment for his services;
The head of a unitary enterprise in the process of managing the financial and economic activities of the enterprise has the following powers:
acts on behalf of a unitary enterprise without a power of attorney;
approves the structure and staff of a unitary enterprise;
hires employees of such an enterprise, enters into contracts with them, changes and terminates employment contracts;
issues orders and issues powers of attorney in the manner prescribed by law.
Financial planning in state unitary enterprises has a number of its own characteristics. The main document that reflects the current financial plan of the Federal State Unitary Enterprise for the coming year is the program of its activities. The program of activities is a set of activities interconnected by timing and sources of financing. The program's activities should reflect the main directions of activity in the planned period to achieve the goals defined by the charter, decisions of the Government of the Russian Federation and federal executive authorities. The draft program is accompanied by a feasibility study of the planned activities, the costs of their implementation, as well as the expected effect of their implementation.
The drafting of the program is directly carried out by the financial service of the enterprise (economic planning department). The developed program for the next year must be submitted by the head of the federal state unitary enterprise before August 1 of the current year to the federal executive body in charge of the enterprise.
The head of the enterprise annually, before April 1, together with a report on the activities of the enterprise for the past year, submits to the federal executive body proposals to clarify the amount of the profit to be transferred to the federal budget in the current year.
Functions of the financial service of the company.
The financial structure in the process of carrying out the company’s activities solves the following problems:
Sources of financing – short-term and long-term lending; leasing financing; profit distribution; the feasibility of attracting borrowed funds and using own funds.
Capital investments and assessment of their effectiveness - return on capital, current and future price of the company; financial risk assessment; financial support for capital expenditures.
Financial planning - content, development order and significance financial plans.
Analysis of financial activities and financial control - analysis of solvency, liquidity, profitability, factor analysis profits, analysis of the use of financial resources.
Tasks of the financial service.
control over the implementation of decisions made;
accounting and analysis of past experience and extrapolation to the future;
taking into account development trends and possible directions of changes in the external business environment;
taking into account strategic goals and prospects;
focus on the urgent nature of decisions made or reforms carried out;
justification and recognition of the unpredictability of the influence of certain external factors.
Management structure of the financial and economic service of the enterprise.
The company is headed by a general director. Behind him: First Deputy General Director - financial director. And then:
Accounting (financial accounting);
Analytical department;
Department financial planning;
Planning and economic department.
Accounting maintains accounting records of the business operations of an enterprise and prepares public financial statements in accordance with established standards and requirements. The quality of financial management is determined by the level of accounting and management accounting. Accounting should be structured in such a way as to quickly bring together financial information and determine the impact individual factors environment for general financial situation, timely determine deviations in planned indicators from actual ones. An organization's financial statements should include profitability, market position, productivity, asset utilization, innovation.
The Analytical Department deals with analysis and evaluation financial condition enterprise, fulfillment of planned targets for profit and sales volumes, its liquidity and profitability. The tasks of this service also include forecasting financial indicators. Specialists this department can evaluate the expected investment projects.
The financial planning department (short-term and long-term) develops the main planning documents: balance of income and expenses, cash flow budget, planned balance of assets and liabilities. The information basis for planning is data from the analytical and operational departments, accounting, and other economic services of the enterprise.
The planning and economic department collects bills, invoices, monitors their payment and, in the conditions of state regulation of cash circulation, ensures that cash payments between legal entities do not exceed the established limit. This department controls relationships with banks regarding non-cash payments and cash receipts.
3. The state of financial resources and the results of their use in a unitary enterprise
The full name of the enterprise is FSUE "Rosstroy"
The main activities are carrying out work on the primary, planned and unscheduled inventory of capital construction projects and their accounting in the Unified state register.
The main economic indicators of the functioning of the FSUE "Rosstroy" enterprise are presented in Table 3.1.
The dynamics of the main economic indicators of the functioning of the FSUE “Rosstroy” enterprise are presented in Table 3.1.
Having analyzed the main performance indicators of the enterprise for 2006-2008, indicated in Table 3.1, the following conclusions can be drawn.
Table 3.1 – Main economic indicators of the enterprise’s functioning for 2006-2008
Indicators
Value by year
Continuation
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Non-current assets
Current assets
Having analyzed the data in Table 3.4, we can draw the following conclusions about the dynamics and structure of the enterprise’s assets in 2006-2008.
A horizontal analysis of assets shows that their absolute amount in 2007 increased by 26,429.1 thousand rubles. or 80.3%, and in 2008 – by 96810.1 thousand rubles (163.1%). If there were no inflation, one could say that the company is increasing its economic potential. In conditions of inflation, this cannot be said, since fixed assets and the remains of unfinished capital construction are periodically revalued taking into account the growth of the price index. Newly received inventories are reflected at current prices, previously capitalized inventories are reflected at prices valid on the date of their receipt. Funds in settlements and cash are not overvalued. Therefore, it is very difficult to bring all balance sheet asset items into a comparable form and draw a conclusion about the real growth rate of their value.
A vertical analysis of balance sheet assets, reflecting the share of each item in the total balance sheet currency, allows us to determine the significance of changes for each type of asset. The data obtained show that the asset structure of the analyzed enterprise has changed quite significantly: in 2007, non-current assets increased by 10.5%, and their share in the asset structure decreased from 28% to 17%; the amount of current assets increased by 107%, their share in the structure also increased by 10%. In 2008, on the contrary, the amount of non-current assets increased sharply – almost 10 times. This was due to a significant increase in the amount under the item “Construction in progress”. At the same time, the amount of current assets remained practically unchanged. In the structure of the enterprise's assets in 2008, the share of non-current assets increased, and the share of current assets, accordingly, decreased by 50%.
In this regard, the organic structure of capital has changed; in 2006, the ratio of working capital to fixed capital was 2.6, in 2007 - 4.9, which ultimately will help accelerate its turnover and increase profitability. And in 2008 this figure was 0.5, which could have a negative impact on turnover.
To analyze the effectiveness of realizing financial potential, we will analyze liquidity indicators.
Short-term liquidity is divided into:
absolute liquidity
Absolute liquidity shows what part of short-term debt can be covered by the most liquid assets, that is, by cash and short-term financial investments.
critical liquidity
Critical liquidity shows what part of the company’s short-term debt can be covered with cash, short-term financial investments and accounts receivable.
current liquidity
Current liquidity is the degree to which current assets exceed short-term liabilities.
Let's analyze the relative liquidity indicators of the enterprise (Table 3.5).
Table 3.5 – Enterprise liquidity indicators in 2006-2008
Indicator
Deviations
2007 from 2006
2008 from 2007
Thus, after analyzing the data in Table 3.5, the following conclusions can be drawn.
In 2006, liquidity indicators were not at a very high level. In particular, the quick liquidity ratio was only 0.58, while 0.7-1 is considered normal. This may be due to the fact that a fairly large part of the enterprise's liquid assets is accounts receivable, which are difficult to collect in a timely manner. The current liquidity ratio in 2006 was 0.68, which shows a rather high risk of non-repayment of debts by the enterprise.
In 2007, compared to 2006, all liquidity indicators increased by an average of 0.07%, thus remaining at approximately the same level.
However, in 2008, there was a sharp decline in all liquidity indicators: the absolute liquidity ratio - by 0.19, the quick liquidity ratio - by 0.37, the current liquidity ratio - by 0.39. This indicates a process of loss of liquidity and can lead to loss of solvency of the enterprise, business reputation, as well as investment attractiveness.
Continuation
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Data for analyzing the composition and dynamics of the enterprise’s profit are presented in Table 3.6.
Table 3.6 – Composition and dynamics of profit in 2006-2008
Indicator
Amount, thousand rubles
Sales revenue
Gross profit
Administrative expenses
Profit from sales
Other expenses
Profit before tax
Income tax
Net profit
Indicator
Absolute deviations
Growth rate, %
2007 from 2006
2008 from 2007
2007 to 2006
2008 to 2007
Sales revenue
Cost price products sold
Gross profit
Administrative expenses
Profit from sales
Other expenses
Profit before tax
Income tax
Continuation
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Net profit
After analyzing the data presented in Table 3.6, the following conclusions can be drawn.
In 2007, compared to 2006, gross profit increased by 51.5%, and in 2008 - by 49.7%. This is due to more rapid growth sales revenue compared to the increase in production costs.
At the same time, administrative expenses in 2007 increased by 37.2%, and sales profit by 95.2%; in 2008, these figures increased by 59.7% and 49.5%, respectively. Other expenses in 2007 increased by 60.9%, and profit before tax by 11250.0 thousand rubles, or 109.4%. In 2008, other expenses increased by 49.5%, and profit before tax by 138.1%. Such sharp rise The increase in pre-tax profit is due to the faster growth of profits compared to the growth of expenses.
The amount of income tax in 2007 increased by 109.4%, in 2008 – by 138.1%. At the same time, net profit in 2007 increased by 8108.8 thousand rubles, or 5.1%, and in 2008 - by 3268.8 thousand rubles. (20.6%) and amounted to 19096.2 thousand rubles.
An increase in the profit indicator characterizes the enterprise’s performance as positive. At the same time, this growth occurred mainly due to an increase in sales volumes and a decrease in costs per ruble of products, since in the analyzed period the growth in cost occurred slower than the growth in sales revenue. Also, the growth in profits is due to rising prices due to inflationary processes.
An analysis of the economic indicators of the functioning of the FSUE "Rosstroy" enterprise in 2006-2008 showed the need for a number of measures to increase the efficiency of financial organization.
As a result of the analysis, two main undesirable trends were identified:
reduction in capital productivity due to sharp increase the amount of fixed assets, mainly due to an increase in the amount under the item “Construction in progress”, with a much smaller increase in revenue from sales of products;
the decrease in liquidity was due to a significant increase in the enterprise's liabilities compared to the growth of liquid assets.
Thus, it is necessary to carry out activities in these two areas.
To level out the level of capital productivity, it is necessary to take measures to improve the efficiency of use of fixed assets, as well as the rapid completion of construction of the facility.
Carrying out measures to improve the liquidity indicators of an enterprise includes the following two areas:
increasing asset liquidity.
reduction in the amount of liabilities.
The direction of increasing the liquidity of the enterprise’s assets includes the following measures:
identifying and compiling a list of major buyers and customers who have not paid their obligations in order to reduce accounts receivable;
informing customers about the need to pay their debts;
identifying unpaid buyers and customers and informing them again;
collecting information on the possibility of collecting debts using legal methods and sending materials to the judicial authorities.
To implement this set of measures to increase asset liquidity, it will be necessary to use existing labor resources based on several structural divisions:
to identify and inform debtors - the accounting department;
to send materials to the judicial authorities - the legal department;
In the structure of accounts payable, a fairly large share is invariably made up of debt to personnel. In this regard, it is necessary to take measures to increase labor productivity and the efficiency of recruitment.
The direction of reducing debt to employees of the enterprise includes the following activities:
monitoring the current situation with labor resources (collecting information on the number of employees, their functions, wage system);
identifying errors in labor organization and causes of decreased labor productivity;
development and implementation of a bonus system of remuneration to stimulate employees of the enterprise, taking into account the need to reduce labor costs;
identification of the most and least effective employees on a competitive basis, development and implementation of a staff reduction program.
As a result of the measures taken, it will be possible to achieve the repayment of accounts receivable, and, consequently, increase the liquidity of assets, as well as reduce accounts payable, which will result in an increase in the liquidity of the enterprise in 2009.
In particular, by the end of 2009 it will be possible to reduce short-term debt to personnel by 782.4 thousand rubles. and bring its figure to the amount of 9087.7 thousand rubles. This will happen by reducing labor costs by reducing the number of employees by 10 people. It will be possible to increase the liquidity of the enterprise's assets by reducing short-term accounts receivable through the collection of funds from the enterprise's partners in the amount of 1287.8 thousand rubles. As a result, this figure will be equal to 10,103.3 thousand rubles, and the amount of cash will be 33,900.4 thousand rubles. Thus, taking into account the measures taken, the values of liquidity indicators presented in Table 3.7 are planned.
Table 3.7 – Main indicators of the project efficiency of organizing financial resources in 2008-2009
Indicator
Absolute deviation
Growth rate, %
2009 from 2008
2009 to 2008
Absolute liquidity ratio
Quick ratio
Current ratio
Thus, as a result of the measures taken, all relative liquidity indicators of the enterprise will increase.
The absolute liquidity ratio will increase by 0.01 or 4.8% and amount to 0.22. The quick liquidity ratio will be 0.37, that is, it will increase by 32.1%. The current liquidity ratio will increase by 0.01 (3.2%) units and amount to 0.32.
In this case, the enterprise will not incur additional costs of financial and labor resources, that is, carrying out the proposed activities will not serve as a factor in increasing the cost of production of the enterprise’s services.
Conclusion
Continuation
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Thus, having considered the theoretical aspects of the features of finance of unitary enterprises, assessing the efficiency of organizing financial resources of unitary enterprises, calculating the main indicators of the efficiency of the enterprise and the efficiency of organizing financial resources and analyzing their dynamics, we can draw the following conclusions.
Since the creation of unitary enterprises is one of the instruments of state policy, assessing and increasing the efficiency of the use of financial resources in them is important at both the micro and macro levels.
The main indicators of the effectiveness of the organization of financial resources at an enterprise are indicators of the financial stability of the enterprise, its solvency and liquidity, as well as the results of an analysis of the structure and dynamics of the assets and liabilities of the enterprise and its financial results.
When analyzing these indicators at the FSUE "Rosstoy" enterprise, problems were identified in the organization of financial resources. At the same time, when considering these indicators in dynamics, it is noticeable that the deterioration occurred in 2008.
The efficiency of organizing financial resources depends on the state and dynamics of such indicators as revenue from product sales, cost of products sold, gross profit, return on sales, product price levels, solvency, liquidity, and financial stability.
When assessing the efficiency of organizing financial resources at the FSUE "Rosstoy" enterprise, low capital productivity indicators were revealed, simultaneously with high capital intensity indicators, as well as liquidity indicators of the balance sheet and the enterprise as a whole.
Thus, the need has been identified to develop measures to improve the efficiency of the organization of the enterprise’s work and financial resources. As such, measures can be taken to improve the management of fixed assets, increase the liquidity of the enterprise's assets and repay debts.
In particular, it is proposed to carry out a set of measures to increase the efficiency of collection of receivables and repayment of debt to employees of the enterprise.
List of used literature
Civil Code of the Russian Federation.
Federal Law “On State and Municipal Unitary Enterprises” dated November 14, 2002 No. 161-FZ.
Decree of the Government of the Russian Federation N 1024 of September 9, 1999 “The concept of state property management and privatization in the Russian Federation.”
Federal Law of October 6, 2003 No. 131-FZ “On the general principles of organizing local self-government in the Russian Federation”
Federal Law of July 4, 2003 No. 95-FZ “On Amendments and Additions to the Federal Law “On General Principles of Organization of Legislative (Representative) and Executive Bodies of State Power of the Subjects of the Russian Federation”
Dovgaya O.V. Finance of unitary enterprises: textbook. - Khabarovsk: RIC KhSAEP, 2007.
Kolchina N.V. Enterprise finance. – M.: Unity-Dana, 2009.
Shcherbinina A.V. Organizational finances. Rostov n/d: Phoenix, 2007.
Shulyak P.N. Enterprise finance. - M.: Publishing and trading corporation "Dashkov and Co.", 2009.
Popov E.M. Enterprise finance. Textbook. – M.: Higher School, 2008.
Sheremet A.D., Sayfulin R.S. Enterprise finance. Tutorial. M.: INFRA-M, 2009..
Savitskaya G.V. Methodology for comprehensive analysis of economic activity: Short course. – 3rd ed., rev. – M.: INFRA-M, 2008.
Grishchenko O.V. Analysis and diagnostics of the financial and economic activities of the enterprise. - www.aup.ru/books/m67/
Gruzinov V.P., Gribov V.D. Enterprise Economics: Textbook. – M.: Finance and Statistics, 2007.
Litovskikh A.M. Financial management: lecture notes - Taganrog: TRTU Publishing House, 2006.
Berdnikova T.B. Analysis and diagnostics of the financial and economic activities of the enterprise. – M.: INFRA-M, 2007.
Lyubushin N.P., Leshcheva V.B., Analysis of the financial and economic activity of the enterprise. – M.: UNITY-DANA, 2008.
Chuev I.N., Chechevitsyna L.N. Analysis of financial and economic activities. Study guide. – Rostov-n/D: Phoenix, 2008.
Sheuk D.I. Enterprise finance. Lecture notes. – St. Petersburg: Peter, 2007.
Kovalev V.V., Kovalev Vit. B. Finance of organizations (enterprises): Textbook. – M.: TK Velby, 2009.
Nikolaeva T.P. Enterprise finance. – M.: MMIEIFP, 2006.
Gavrilova A.N., Popov A.A. Finance of organizations (enterprises). – M.: Knorus, 2007.
Grachev A.V. Analysis and management of the financial stability of the enterprise. – M.: Finpress Publishing House, 2008.
Kostirenko R.O. Financial analysis. – M.: Factor, 2007.
Ruchkin O.Yu. Finance of commercial organizations. – M.: MELI, 2008.
A unitary enterprise is a commercial organization that is not endowed with the right of ownership to the property assigned to it by the owner. The property of a unitary enterprise is indivisible and cannot be distributed among contributions (shares, shares), including among employees of the enterprise.
The charter of a unitary enterprise must contain information about the subject and purpose of the activity, the size of the authorized capital and the sources of its formation.
Only state and municipal enterprises can be created in the form of unitary enterprises. The property of a state or municipal unitary enterprise is respectively in state or municipal ownership and belongs to such an enterprise with the right of economic management or operational management.
In other words, a unitary enterprise carries out its commercial activities on the basis of state or municipal property.
When a unitary enterprise is created, it is allocated funds from the state or local budget to form an authorized capital. The size of the authorized capital, the procedure and sources of its formation are indicated in the charter of the unitary enterprise. The charter defines the subject and goals of the unitary enterprise's activities, limiting its legal capacity in comparison with the legal capacity of other commercial organizations.
The liability of a unitary enterprise for its obligations also depends on whether it is based on the right of economic management or operational management. The right of economic management provides a unitary enterprise with broader rights in managing finances and property.
The constituent document of a unitary enterprise based on the right of economic management is its charter, approved by an authorized state body or local government body.
The size of the authorized capital of a unitary enterprise based on the right of economic management cannot be less than the amount determined by the law on state and municipal unitary enterprises (Article 114 of the Civil Code of the Russian Federation).
In cases provided for by the law on state and municipal unitary enterprises, a unitary enterprise based on the right of operational management (state-owned enterprise) can be formed on the basis of property in state and municipal ownership.
The constituent document of a state-owned enterprise is its charter, approved by an authorized state body or local government body.
In order to establish uniform principles in planning and financing the activities of state-owned enterprises, the Government of the Russian Federation1 approved the Procedure for planning and financing the activities of state-owned enterprises. The procedure provides that the production and economic activities of a state-owned plant are carried out in accordance with the order plan and the enterprise development plan. It has the right to carry out independent economic activities permitted by the state authorized body. The enterprise's relationships with resource suppliers and product consumers are based on a contractual basis.
Planning of the enterprise's activities is carried out in the following order: the authorized body annually, based on the identified need for products produced by the enterprise for state needs, approves and communicates to it (three months before the planned year) a plan order taking into account the enterprise development plan.
The plan order is coordinated with the Ministry of Economic Development and Trade of the Russian Federation and the Ministry of Finance of the Russian Federation.
Products produced in accordance with the order plan are sold at prices established by the authorized body. The principles and procedure for the formation of prices determined in the order plan, the frequency of their adjustments are established by the Ministry of Economic Development of the Russian Federation and the Ministry of Finance of the Russian Federation with the participation of the authorized body. Products produced in the course of independent economic activity are sold at prices set by the enterprise independently or on a contractual basis.
The structure and staffing are approved by the plant director independently within the limits of the wage fund and the established number limit.
Financing related to the implementation of the order plan and the development plan of the enterprise, its production and social development, carrying out mobilization preparation activities, and maintaining facilities non-production sphere, is carried out at the expense of income from the sale of products (works, services).
If there is insufficient income, the enterprise is allocated funds from the federal budget:
¦ for the implementation of its development plan (including the implementation of state investment programs, the implementation of research and development work, mobilization preparation activities);
compensation for losses from fulfilling the order plan. Decision to allocate funds from the federal budget
adopted by the Government of the Russian Federation on the proposal of the Ministry of Economic Development and Trade of the Russian Federation and the Ministry of Finance of the Russian Federation on the basis of an application from the authorized body. Unused budgetary allocations by the enterprise after the end of the year are subject to return to the federal budget.
Profit from the sale of products (works, services) produced in accordance with
1 Decree of the Government of the Russian Federation of October 6, 1994 No. 1138 “On the procedure for planning and financing the activities of state-owned factories (state-owned factories, state-owned farms).”
in accordance with the order plan and as a result of independent economic activity, it is used to finance activities that ensure the implementation of the order plan, the enterprise development plan and for other production purposes, as well as social development according to standards established annually by the authorized body. The procedure for establishing these standards is approved by the Ministry of Economic Development of the Russian Federation and the Ministry of Finance of the Russian Federation.
The free remainder of the profit remaining after it has been directed to the purposes indicated above is subject to withdrawal to the federal budget.
The enterprise submits a report to the authorized body on intended use allocated budget allocations and depreciation charges.
A unitary enterprise is a commercial organization that is not endowed with the right of ownership to the property assigned to it by the owner. The property of a unitary enterprise is indivisible and cannot be distributed among contributions (shares, shares), including among employees of the enterprise.
The charter of a unitary enterprise must contain information about the subject and purpose of the activity, the size of the authorized capital and the sources of its formation.
Only state and municipal enterprises can be created in the form of unitary enterprises. The property of a state or municipal unitary enterprise is respectively in state or municipal ownership and belongs to such an enterprise with the right of economic management or operational management.
In other words, a unitary enterprise carries out its commercial activities on the basis of state or municipal property.
When a unitary enterprise is created, it is allocated funds from the state or local budget to form an authorized capital. The size of the authorized capital, the procedure and sources of its formation are indicated in the charter of the unitary enterprise.
The charter defines the subject and goals of the unitary enterprise's activities, limiting its legal capacity in comparison with the legal capacity of other commercial organizations.
The liability of a unitary enterprise for its obligations also depends on whether it is based on the right of economic management or operational management.
The right of economic management provides a unitary enterprise with broader rights in managing finances and property.
The constituent document of a unitary enterprise based on the right of economic management is its charter, approved by an authorized state body or local government body.
The size of the authorized capital of a unitary enterprise based on the right of economic management cannot be less than the amount determined by the law on state and municipal unitary enterprises (Article 114 of the Civil Code of the Russian Federation).
In cases provided for by the law on state and municipal unitary enterprises, a unitary enterprise based on the right of operational management - a state-owned enterprise (state-owned plant, state-owned factory, state-owned economy) - can be formed on the basis of state or municipal property.
The constituent document of a state-owned enterprise is its charter, approved by an authorized state body or local government body.
In order to establish uniform principles in planning and financing the activities of state-owned enterprises, the Government of the Russian Federation, by its resolution, approved the Rules for the creation and regulation of the activities of federal state-owned enterprises.
The rules establish the specifics of creating and regulating the activities of federal government enterprises.
An enterprise can be created by establishing, reorganizing an existing unitary enterprise in the form of division, spin-off or merger, as well as by changing the type of unitary enterprise based on the right of economic management.
The federal executive body exercising the functions of managing federal property approves the separation balance sheet or transfer act in accordance with the established procedure.
The enterprise carries out its activities in accordance with the program of activities and estimates of income and expenses approved in accordance with the established procedure by the authorized body. The program of activities and estimates of income and expenses are drawn up in a form approved by the authorized body. The estimate of income and expenses is drawn up on the basis of the program of activities.
The head of the enterprise annually submits in accordance with the established procedure to the authorized body:
a) a draft program of activities and a draft estimate of income and expenses with justification for planned activities, the costs of their implementation, as well as the expected effect of their implementation;
b) annual financial statements and auditor’s report on the annual financial statements;
c) a report on the implementation of the program of activities and estimates of income and expenses;
d) proposals for the distribution of net profit received by the enterprise based on the results of the reporting year.
Financing of the enterprise's activities is carried out from income from the sale of its products (works, services) in accordance with the estimate of income and expenses. If the enterprise’s income is insufficient to cover expenses, the authorized body, in accordance with the established procedure, finances targeted expenses related to the operation of the enterprise on a quarterly basis based on the results of the reporting period. The procedure for allocating federal budget funds to an enterprise is determined by budget legislation.
The authorized body keeps records of the enterprise's debt obligations.
The distribution and use of enterprise income is carried out in accordance with the estimate of income and expenses.
The amount of the enterprise's net profit received based on the results of the reporting year (retained earnings) is determined on the basis of financial statements.
The amount of the enterprise’s net profit subject to transfer to the federal budget in the current year is determined by the decision of the authorized body, adopted no later than June 1 on the basis of a report on the implementation of the program of activities and estimates of income and expenses, as well as proposals for the distribution of net profit received by the enterprise according to results of the reporting year.
The net profit of the enterprise based on the results of the reporting year is subject to distribution in the following order:
No more than 25% of the net profit received is subject to credit to the federal budget;
At least 75% of the net profit received is subject to credit to the reserve fund and other funds in accordance with the charter of the enterprise, and is also spent in areas agreed upon with the authorized body, including in areas of an investment nature.
The enterprise independently sells the products (work, services) it produces, unless otherwise established by federal laws and other regulatory legal acts of the Russian Federation.
