Keywords
local government
free funds
economy
controversies
How to Cite
Abstract
Local government units, responsible for the execution of tasks in the following areas: technical infrastructure (e.g. road traffic organization), social infrastructure (e.g. education), public order and safety (e.g. fire protection), spatial and ecological order (e.g. environmental protection) should have ensured financial resources to execute the aforementioned tasks. However, in case of a shortage of financial resources to execute these tasks, the management of free funds is an important issue, which has not been a subject to many studies within the scope of existing scientific works. Therefore, the goal of this article is to present the controversies in laws that regulate the management of free funds in local government units. A hypothesis has been formulated: controversies in the area of free funds management relate to considering this concept as synonymous with budget excess, as well as the limited scope of depositing such funds in the form of financial instruments, and financing the budget deficit. A critical analysis of the public finances sector and literature on financial instruments has been applied to verify the hypothesis. The results of the analysis were also supported by conclusions from LGU reports addressed to Regional Accounting Chambers (RAC) by the example of the Małopolskie Voivodeship (province) (years 2015–2017).
Results of research indicate that:
- The concept of free funds is not synonymous with a budget excess;
- Depositing such funds is limited due to the specificity of financial instruments;
- The possibility to incur further loans to finance the deficit with simultaneous spending of free funds by the LGU is not considered economic.
Due to the controversies in the laws, an amendment is expected.
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LEGAL ACTS
Ustawa z 29 stycznia 2004 r. Prawo zamówień publicznych, Uniform text in Journal of Laws from 2017, item 1579, 2018.
Ustawa z 30 czerwca 2005 r. o finansach publicznych, Text in Journal of Laws from 2005, no. 249, item 2104 as further amended.
Ustawa z 27 sierpnia 2009 r. o finansach publicznych, Uniform text in Journal of Laws from 2017, item 2077 as further amended.
Rozporządzenie Ministra Finansów z 15 kwietnia 2011r. w sprawie wolnych środków niektórych jednostek sektora finansów publicznych przyjmowanych przez ministra finansów w depozyt lub zarządzenie, Journal of Laws no. 81, item 443.
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