Budget process in the local government in Vanadzor

Abstract

The Internship project about the budget process is based on practical experience at the local government in Vanadzor. The following paper describes the budget process of local government in Vanadzor, discuses the limitations and gives recommendations for the better organization of budget process. The budget process includes budget development, consideration, approval, execution and reports on execution of the budget. Correspondingly, there are three phases of the budget process: the first is the formation and approval of the budget; the second is the execution and monitoring of the budget and the third is the formation and approval of the annual report on the budget execution. The first stage of the budget process includes: 1. Preparation and formation of the budget draft creation activity 2. Workout of the budget draft 3. Approval of the budget Because of the time limitation my internship was narrowed to the budget development, consideration and approval phase of the budget process. So, I could not participate in the process of execution and reports on execution, and only in the process of the development, consideration and approval of the budget.