Managing Public Funds

DIALOGUE

Read and translate the following dialogue:

Managing Public Funds

A.	Good morning, Mr. Black. Pleased to meet you.
B.	Good morning, Mr. Antonov. I’m also very glad to meet you again.
A.	If you don’t object I’d like to resume our conversation about the importance of the budget.The experts underline thatthe responsibility for managing public funds is divided among the three branches of government. The chief executive of each of the governments is in charge of drawing up the budget. Am I right?
B.	Yes, that’s true. It’s impossible to overestimate the importance of a good, balanced budget for a country.
A.	Could you be more specific, please? Let’s discuss the budget process arrangement. If I’m not mistaken the budget process includes the activities of government bodies on formation, consideration, approval and execution of the budget.
B.	Moreover, it’s absolutely necessary to mention that budget consideration and approval is the responsibility of the legislative branch. The executive branch is liable for the preparation and execution of the budget. The head of the executive branch must see that the money is spent according to the budget’s plan. The courts in the juridical branch settle disputes over the collecting and spending of the public money.
A.	I’m clear now. I suppose you know that in Russia public finance is the sum of budgets of all levels of the subjects of the Federation, extra-budgetary and reserve funds. In Russia the Ministry of Finance is the central coordinating body in charge of compiling and presenting the budget. It has major inputs from ministries in different fields of the economy and the state tax institutions.
B.	But I’d like to clarify one more point concerning the state bodies controlling the execution of the budget. Can you give me some information about the bodies examining public expenditure in your country?
A.	The way I see it, the Russian government has set up separate divisions to handle public funds. In Russia it’s the Accounts Chamber, established by the Federal Assembly, then the Federal Treasury System. Can you tell me which department controls the public finance in the UK?
B.	As far as I know in the UK the government department responsible for broad control of public finance and expenditure is the Treasury headed by the Chancellor of the Exchequer^[1]. And beyond this, the Bank of England advises the Government on financial matters. The Budget^[2] is announced by the Chancellor of the Exchequer who reviews the nation’s economic performance and describes the Government’s economic objectives and the policies to achieve them.
A.	Can I butt in? I have long been seeking to understand the difference between “Green Paper” and “White Paper”. Would you be so kind as to clarify it for me?
B.	Yes, of course. As a rule, in December each government departmentsubmits to the Treasury public expenditure estimates giving details of its cash requirements for the financial year beginning in the following April. Limited discussions of government proposals take place in the Cabinet meetings. From time to time consultative documents, sometimes called"Green Paper"^[3], are set out for public discussion at a formative stage. After the approval by the Treasury these Supply Estimates published in the document called "White Paper"^[4] are presented to Parliament. Parliament approves them in July.
A.	Thank you for the explanation. I think you are aware that in Russia our Parliament, the legislative body of our country, usually considers the draft budget. And deputies submit some amendments to the draft budget, e.g. about restructuring debts and paying off pensions and child benefits.
B.	Yes, I’ve got some information about the participation of your Parliament in the budgetary process. I hope you will kindly give me more detail about it next time. I think we’ve touched a lot of major points today. Let’s have a rest, shall we?
A.	Well, Mr. Black, thank you very much for putting me into the picture.
B.	Don’t mention it. I’m at your service.

Task 1. Report the dialogue. Use the following reporting verbs:

· to inform	· to clarify
· to stress	· to mention
· to confirm	· to make it clear
· to explain	· to finalize the matter

Task 2. Work with a partner. Look at the dialogue and discuss what A. and B. say about the following subjects.

a. who is responsible for drawing up the budget

b. the mechanics of the budgetary process and the roles of the executive and legislative branches

c. public finance in the Russian Federation

d. the responsibilities of the Treasury and the Chancellor of the Exchequer and the Bank of England in the sphere of public finance

Task 3. Say it in English:

A.

· невозможно переоценить важность сбалансированного бюджета

· расходовать деньги в соответствии с бюджетным планом

· включать в себя деятельность правительственных органов по фор- мированию, рассмотрению, одобрению и выполнению бюджета

· быть ответственным за составление бюджета

· счётная палата, учрежденная федеральным собранием

· система федерального казначейства

· управление государственными финансами

· доклад правительственной комиссии, распространяемый для обсуждения какого-либо важного вопроса (Великобритания)

· в стадии формирования

· создать отдельные управления, чтобы регулировать общественные средства

· министерство финансов Великобритании, возглавляемое министром финансов

· сметы государственных расходов

· сметы доходов

· вносить поправки в проект бюджета

· должностное лицо, руководитель, администратор

B.

Бюджетный год Великобритании начинается 1 апреля и заканчивается 31 марта следующего года. Проект государственного бюджета составляет казначейство. Ежегодно осенью министерства и ведомства готовят смету своих расходов на следующий год, а департаменты внутренних доходов, таможенных пошлин и акцизов - сметы доходов. Сметы передаются казначейству, которое проверяет и уточняет их. Кабинет министров передает проект бюджета для обсуждения в парламент. Рассмотрение и обсуждение проекта бюджета в Великобритании начинается с выступления в палате общин канцлера казначейства. В своем выступлении он дает оценку закончившемуся финансовому году, сообщает об экономических перспективах развития страны в новом году. В палате общин бюджет утверждается голосованием. Утверждение бюджета палатой лордов и подписание его королевой имеет чисто формальное значение.

Task 4. Look back at Dialogue 2.6. Produce your own dialogue about the significance of the budget using Supporting materials. Search the Internet to find further information about the budgetary process. Make a full use of the underlined helpful phrases from Dialogue 2.6.

Дата добавления: 2015-07-11