FORMATION AND EFFECTIVE USE OF FINANCIAL RESOURCES OF THE FEDERAL STATE STATISTICS SERVICE

Abstract

Currently, the authorities act by managing financial resources, they are engaged in implementing state programs and national projects aimed at improving the efficiency of public funds spending, accelerating the country's economic development, stimulating the development of all economy sectors. The purpose of the study was to develop measures to improve the process of forming and using the financial resources of federal executive authorities on the example of the Federal State Statistics Service. The authors examined the theoretical aspects of organizing the federal executive authorities' finances, analyzed the process of forming and using the financial resources of federal executive authorities on the example of the Federal State Statistics Service, taking into account the specifics of activities in the conditions of the COVID-19 pandemic, they determined the problems and identified the main directions to improve the formation and the use of Rosstat's financial resources as one of the administrators of federal budget funds. The study resulted in the development of measures to improve the efficiency of financing and the use of authorities' financial resources, which can contribute to the augmented theoretical and practical foundation for the public sector functioning. The theoretical significance of the research lies in the development of economic and theoretical prerequisites for forming and using the financial resources by federal executive authorities, in identifying the patterns and directions of its development, determining the criteria and the ways to increase the efficiency of using federal budget funds. The practical significance of the study lies in the fact that its main results and recommendations regarding the formation and efficiency of using the financial resources can be applied in their activities by federal executive authorities with an extensive organizational structure.