Sequestration is, in a nutshell,cost reduction. It is conditioned by objective circumstances. As a rule, this concept is used in the financial sphere. In certain situations, a "cutback" of the cost of the state's money supply is required. When there are prerequisites for a significant deficit in all directions, cost reductions are made.
Existing today in Russia (and all over the world)the economic situation can not be called stable. Any state may have unforeseen financial problems, for the solution of which it will be necessary to deviate from the planned state policy. In such situations an involuntary measure is applied -sequestration of the budget. itallows artificially eliminate the shortage of fundsin the country. Reducing costs is a specific amount. The cut is proportionate in all respects. It is worth saying that one of the reasons for the deficit is the excess of the expenditure part over the income one. Meanwhile, in practice, various circumstances may arise that necessitate asequestration of the budget. it, in particular, errors in the calculation and formationbudget, unforeseen factors (force majeure). In addition, the need to cut costs may be due to political conflicts, wars, increased corruption in the state apparatus, large-scale disasters and so on.
As was said above, sequestering the budget -this is a proportional cut in expenditure items. It should be noted that this measure does not apply to the so-called "protected" areas of financing. They include, in particular, the sphere of health care, social protection, etc. These articles can not be reviewed and reduced.
Normative acts define the structures authorized to producesequestration of the budget. it:
For each of these subjects, the conditions under which they can be conductedsequestration of the budget. it:
The normative act adopted by the deputies is sent to the Federation Council. The decision is considered within 2 weeks. If the act is rejected, the financial plan is coordinated with the BC.
In 2014 thesequestering the budget of the Novosibirsk region.The adjustment of the plan was approved on April 29. During the discussions, the legislative assembly decided to stop financing PLP (industrial and logistics park) for 400 million rubles. At the same time, the deputies proposed numerous amendments, the implementation of which required about 4 billion rubles. As a result of the discussions, amendments were made to the regional law "On the budget" for 2014, as well as planned 2015-2016. The adjustment included three key tasks. The first was to reflect the target resources in the budget indicators, the second concerned additional costs, the third - the settlement of the current creditor debt from 2013. Its amount was more than 7 billion rubles. This debt was formed due to the non-performance of income articles on income tax and excise on alcohol-containing goods.
The word "sequestrum" is used in different spheresactivities. For example, in jurisprudence, this term refers to the compulsory or voluntary transfer of material values to the trustee. The latter, in turn, is required to keep the property until the resolution of the dispute about its owner. The sequestration may be judicial or contractual. In the latter case, the parties draw up an agreement in which they designate the conditions for the transfer of the thing to a third party. The contract imposes certain obligations on the intermediary. In particular, he must keep the thing properly and return it after making a decision on the property right dispute. The return is made to the subject for whom it will be installed. The relations of participants in such disputes are regulated by Article 926 of the Civil Code, and also by the Federal Law No. 229.