 |
|
| Description and Structure |
|
|
|
| The annual Budget of the Autonomous Community of the Basque Country fixes a maximum expenditure limit and makes an estimate of the amount of revenue to be collected during the financial year, it also fixes a maximum limit for the allocation of guarantees and for the amount of debt in which the Government may incur.
|
|
| The annual Budget comes into effect by means of a law passed by the Basque Parliament. |
|
| The Autonomous Community of the Basque Country Budget is made up of the Budgets which correspond to General Administration (Government Departments and Budgetary Sections), Autonomous Agencies, Public Organizations Subject to Company Law and Public Limited Companies partly owned by the Government. |
|
|
|
| The General Administration and Autonomous Agencies Budgets contain an explanation of the current state of expendidure and revenue. These Budgets are classified as follows: |
|
- According to Functions and Programmes outlining the objetives of Government expenditure.
- Organizational i.e. which Agencies receive funds to spend.
- Economic i.e. what funds are spent on.
|
|
The financial activities of all Public Corporations subjet to Company Law and Public Limited Companies are set out in the Exploitation and Capital Budgets to which an explanation of future commitments has been added.
There is also a memorandum and a Financial Forecast which includes: a balance for the end of the financial year, Profit and Loss account and Financial Table.
|
|
