Ministry of Finance: ONLY WITH SUPPLEMENTARY BUDGET excess expenditure

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(Title) Excess spending only a supplementary budget to be passed by the House bill establishes the financial management and responsibility of the Ministry of Finance.
line with the essentials of the tabling the bill, which under the new transparency rules are posted in the House, increasing the power of the Minister of Finance from 2011 3eteis adopted budgets that will be compiled with detailed information and will only be allowed to redistribute spending within the ministries, not the overcome them.

The principles of arrangement by which Greece has adapted to the relevant requirements of the memorandum are:
* The annual state budget during the part is changed should be entered and approved in the same manner as originally adopted, whenever necessary:
A) excess of total expenditure in the annual budget.
B) exhaustion of the reserve funds, as evidenced by the quarterly report on budget implementation.
c) failure after servicing costs and the rules for transfers.
D) Major changes in the composition of the budget even though it has not changed the overall level of expenditure.
R) New appropriations, transfers, etc.

* With approval of the Minister of Finance may be: Transfers between major expenditure categories within the ministries. Re-appropriations between ministries up to a specified maximum amount (eg 5%) approved by the House. Any transfers between major expenditure categories exceed a certain limit (eg 3%) of the original credit.
* The House approved the budget reserve may be used to meet urgent needs (high altitude, clearly defined and do not adequately covered., unavoidable and can not be predicted, which can not be postponed until the passage of a supplementary budget).
* Expanded powers to the Minister of Finance and other bodies.
* The General Accounting Office is also responsible for preparing the annual draft Medium-Term Financial Strategy, proposals for supplementary budgets and monthly, quarterly and biannual reports on implementation
* A Budget Directorate in each ministry, the head of which oversees the procedures on budget and accounting activities Fix
* Medium Term Financial Strategy Framework (MDPS). Established to draft three-year rolling Medium-Term Financial Strategy Framework set out the objectives of the government for the next three years across the General Government.

* The annual state budget is drawn from top to bottom (methodosTop downs) . At the same time as the state budget must be established and budgets of other agencies of government shall be deposited with the relevant ministries and to Parliament for information with the state budget.
* The state budget includes among others, estimates of revenue Costs for the year, total annual expenditure ceilings for each ministry and each category of expenditure, the level proposed reserve, the proposed use of potential redundancy, the proposed maximum amount of borrowing (from domestic and foreign sources) that the House would authorize the finance minister be undertaken by the Greek state, the transfer of funds through grants, the state of outstanding debt and the updated Medium Term Financial Strategy Framework.
* The annual social budget out a forecast for the financial year on revenue, expenses, surpluses or deficits and the consolidated balance sheet social security system and each major fund groups and hospitals.
* The consolidated annual budgets of local authorities will cite estimates of the financial year in revenue, spending, surpluses or deficits of the consolidated balance sheets and field local government and for each grouping of local authorities.
* The consolidated budgets of institutions within the General Government is a statement the gross costs, revenue, total surpluses or deficits, funding sources and balance sheet financial assets and liabilities, and secured debt of all NPDD that are part of the government are not covered by the State, social or Consolidated Annual Budget for Local Government.
* During the implementation of the budget of central and general government, all costs will be subjected to control commitments

* The public expenditure audited in accordance with the rules and procedures to be determined by the Minister of Finance.
* The bill introduces a new book charting the public transactions with double entry accounting modified cash basis.
* The General Accounting Office has the responsibility to prepare the financial reports for the General Government.
* All costs are subject to review by the Court in accordance with international auditing standards.
* Establishment Independent Budget Office in the House.
* Place principles and financial rules relating to the sustainable path of public debt, borrowing rules, state revenue and expenditure.

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21-6-2010

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