The bill presents a new version of the applicable Budget Code of Ukraine.
Pursuant to the bill, the budget system of Ukraine is based on the following principles:
the principle of integrity of the budget system of Ukraine the integrity of the budget system of Ukraine is based on the unified legislative framework, unified monetary system, unified regulation of intergovernmental relations, unified budget classification, and unified procedures for the execution of all budgets and maintenance of accounting records and reporting;
the principle of balanced budgets assignments for implementation of expenditures from the budget shall be in agreement with the amount of budget receipts to be collected in the respective budget period;
the principle of independence the State Budget of Ukraine and local budgets are independent. The State with funds of the State budget is not liable for budget commitments of bodies of power of the Autonomous Republic of Crimea and local self-governmental bodies. The bodies of power of the Autonomous Republic of Crimea and local self-governmental bodies with funds of respective budgets are not liable for budget commitments of each other and for commitments of the State. The budgets´ independence is provided by the assignment of specific revenue sources
thereto, the authority of respective executive bodies of the State power, bodies of power of the Autonomous Republic of Crimea and local self-governmental bodies to decide how to use funds in accordance with Ukrainian legislation, the authority of the Verkhovna Rada of the Autonomous Republic of Crimea and local radas to independently consider and pass respective budgets;
the principle of complete inclusion budgets shall include all receipts paid to the budgets and budget expenditures implemented on the basis of regulations and legal directives of bodies of State power, bodies of power of the Autonomous Republic of Crimea, and local self-governmental bodies;
the principle of rationality budget amounts shall be based on realistic macro indicators of economic and social development of the State and calculations of budget revenues and expenditures in keeping with established methods and rules;
the principle of effectiveness when formulating and executing budgets, all participants of the budget process shall wish to achieve the goals set with a minimum spending of budget resources and to achieve a maximum effect with the use of the amount of budget resources allotted;
the principle of subsidiarity expenditure responsibilities must be divided between the State budget and local budgets, as well as across local budgets so that social services shall be provided from a level which is as close as possible to the place of direct consumption thereof; budget funds can be used only for the particular purposes defined by budget appropriation;
the principle of equity and impartiality the budget system of Ukraine shall be based on the principles of equitable and impartial allocation of public wealth among citizens and territorial communities;
the principle of publicity and transparency the State budget of Ukraine and local budgets shall be approved and budget decisions and budget execution reports shall be approved, respectively, by the Verkhovna Rada of Ukraine, the Verkhovna Rada of the Autonomous Republic of Crimea, and local radas.
A relevant bill was registered under Reg. No. 6495.