Federal Budget Accounts Receivable by Expenditure: Research on Sources of the Growth and Recommendations on Reduction of Accounts Receivable

In the face of continuing pressure from restrictions and sharp revenue cuts in the federal budget, managing expenditure becomes on the main priorities of the government, ensuring their transparency, accountability and effectiveness. Accounts receivable, having direct impact on financial stability and efficiency of spending budget funds, requires special attention from government bodies. Over the past few years, there was steady increase of accounts receivable, with significant growth rates shown in accounts receivable by expenditure. The study analyses budgetary accounting of receivables, the expenditure part of the federal budget for the purchase of goods, works, services for government needs and the provision of subsidies to legal entities, the sources of receivables for these expense items, the tools for monitoring and supporting the management of receivables are studied, commercial experience on managing accounts receivable is presented. The research methods of the paper are legislation, reporting and statistical information analysis, study of commercial companies experience in managing accounts receivable. Recommendations aimed to provide effective management of accounts receivable, including preventing the occurrence of overdue, doubtful and uncollectible accounts receivable for expenses are proposed. Key words: federal budget, accounts receivable by expenditure, purchase of goods, work, services for government needs, provision of subsidies to legal entities, control, commercial organizations