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Issue № 23. June 2010

Financial Management in State Bodies: Foreign Experience

Maria V. Gracheva

Ph.D., Deputy Head of Economic Department, Russian Trade Mission in Germany.
E-mail: 
mgracheva@ecorys.ru

The article is devoted to consideration of the basic concepts in financial management in state bodies. A comparison of expenses to results and definition of their parities (profitability, efficiency, productivity) is a starting point of managerial processes by the finance in state administration sector. The article analyzes the system of financial management including two large components — conditions and processes which consist of a number of subcomponents. The table describing four basic levels of financial management (at the first level characteristics of a current situation in Russia are given, on the fourth — characteristics of the advanced international practice on an example of Great Britain) is presented. The article is written on the basis of an operational experience within the limits of the project of the European commission «Perfection of management by the state expenditure» and the project of the World bank «Perfection of management by the public finance in the Russian Federation», realized by consulting company «Ekoris-NEI» in 2005–2008.

Keywords

Finance, management, state expenditure.

Comments:
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