Experience of introduction of new forms of granting the target inter-budgetary transfers in the Republic of Sakha (Yakutia)

Abstract

Experiment of the Republic of Sakha (Yakutia) on introduc-tion of a new form of granting the target budgetary transfers in the form of the budgetary letter of credit is presented in the article. The relevance of this process is disclosed. The experiment of federal lev-el of the power on introduction of this mechanism is described. Re-sults of the pilot project on introduction of the budgetary letter of credit on the example of the certain state funded organization are analyzed. In this article it is shown that as a result of introduction of "the budgetary letter of credit" within the pilot project it was suc-ceeded to cut the cash expenses in relation to the extremely possible amounts of financing. It, in turn, has allowed draw the conclusions that "the budgetary letter of credit" as a new procedure for granting of the target budgetary transfers can be effective at the sub-federal level of the inter-budgetary relations.