In China, the budgets of local governments at all levels include general public budget, government fund budget, state-owned capital operation budget and social insurance fund budget, among which the first three accounts can be interconnected by means of balance carry-over and transfer payment. In terms of quantity, general public budget and government fund budget constitute the main body of local financial resources.
I. General public budget
General public budget is used to protect and improve people's livelihood, promote economic and social development, safeguard national security and maintain the normal operation of state institutions.
Second, the government fund budget
Government fund budget refers to the revenue and expenditure budget that is collected, collected or raised by other means from specific objects in a certain period of time in accordance with the provisions of laws and administrative regulations, and is specially used for the development of specific public utilities.
The budget of government funds shall be compiled according to the income and actual expenditure of fund projects to ensure the fixed income. Similar to the general public * * * budget, the government fund budget also has provincial/provincial level and city/city level, and the specific differences are consistent with those described in the general public * * * budget.
From the perspective of income, the budgetary income of government funds can be divided into three categories: non-tax income, debt income and transfer income.
Three, the state-owned capital operating budget
The operating budget of state-owned capital is a revenue and expenditure budget for making expenditure arrangements for the income of state-owned capital. The operating budget of state-owned capital is compiled according to the principle of balance of payments, and there is no deficit, and the funds are transferred to the general public budget.
Four, the social insurance fund budget
The social insurance fund budget is a fund raised through social insurance payment and general public budget arrangement, which is specially used for the income and expenditure budget of social insurance. The budget of the social insurance fund shall be compiled separately according to the overall level and social insurance items, so as to achieve a balance of payments. Under normal circumstances, the social insurance fund budget does not transfer funds outward.
Verb (abbreviation for verb) local government debt *
Local governments can only issue government bonds to raise new debts, which can be divided into general bonds and special bonds. Document No.43 stipulates that the governments of provinces, autonomous regions and municipalities directly under the Central Government may borrow debts appropriately. If the governments of cities and counties really need to borrow debts, the governments of provinces, autonomous regions and municipalities directly under the Central Government shall borrow them on their behalf. Local governments borrow money in the form of government bonds. If the government really needs to borrow general debts to develop non-profit public welfare undertakings, the local government will issue general bonds for financing, which will be mainly repaid with general public budget income. If it is really necessary for the government to borrow special debts for the development of public welfare undertakings with certain income, the local government will issue special bonds for financing and repay them with corresponding government funds or special income.