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Law No. 10 Of 29 January 1991 Law On Public Finance

Original Language Title:  LEGE nr. 10 din 29 ianuarie 1991 LEGE privind finanţele publice

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LEGE No. 10 of January 29, 1991 LEGE on public finances
ISSUER PARLIAMENT
Published in OFFICIAL MONITOR NO. 23 of January 30, 1991



The Romanian Parliament adopts this law + Chapter 1 General provisions + Article 1 The work on public finances includes the development and execution of the national public budget, which includes the state central government budget, local budgets and the state social insurance budget, the establishment and charging of taxes, taxes and other state revenues and the use of financial means of legislative, judicial and executive power bodies. It also includes control over how to use funds belonging to autonomous regions, public institutions and the state's social capital in commercial companies. Public institutions, within the meaning of this law, include the Romanian Presidency, the Government, the ministries, the other central and local bodies of the state administration, as well as the state institutions of central or local subordination. + Article 2 The formation, administration and use of financial means of legislative, judicial and executive power bodies shall be subject to the rules on public finances of this Law. + Article 3 The Parliament, as a decision-making body in the field of public finances, establishes and approves, by law, taxes, taxes and other state revenues, as well as the norms and norms of spending for public institutions. It also examines and approves the budget of the central state administration, the state social insurance budget and the annual general control of budget execution, under the conditions of this law. + Article 4 The government elaborates the draft budget of the state central administration, the state social insurance budget, as well as the annual general budget execution account, and submits them for approval to the Parliament, and after approval budgetary provisions. It also exercises the general management of executive activity in the field of public finances, for which purpose periodically examines the financial situation on the economy, the execution of the national public budget and sets out measures to improve Financial. The Ministry of Finance responds to the elaboration of the draft budget of the state central administration, as well as its realization, after the approval by the Parliament, of taking measures to ensure the financial balance, the financial resources of the Government. + Article 5 When drafting and implementing the budget of the central state administration, the budget of social insurance and local budgets stand the principles of universality, balance and reality, applied to the specificity of each budget. + Article 6 The state central government budget, local budgets and budgets of public institutions are approved as follows: a) the budget of the central state administration, by the Parliament; b) the county budgets, the city of Bucharest, the municipalities, the sectors of Bucharest, the cities and communes, by their chosen local body; c) budgets of public institutions fully or partially financed from the budgets of lit. a) and b), to their hierarchical body; d) budgets of public institutions that are fully financed by extra-budgetary means, by the management body of the respective institution, with the opinion of the hierarchical body. The budgets of lit. b)-d), as well as the budgets of all economic agents, social security systems and other units, which, according to the law, have the obligation to prepare budgets, will be elaborated according to the methodological norms established by the Ministry of Finance. + Article 7 The budgets of the Senate, the Assembly of Deputies, the Presidency of Romania, the Government and other public institutions that do not have superior hierarchical organs are distinctly stipulated in the budget of the central state administration and approved by the Parliament once this one. + Article 8 The state social insurance budget is drawn up distinctly by the budget of the central state administration and is approved by the Parliament once with it. The budgets of the other autonomous social security bodies are approved by their own management bodies, with the opinion of the Ministry of Social Protection and the Ministry + Article 9 Public revenues are made up of taxes, taxes and other income established by law. + Article 10 The following shall be considered when determining public expenditure: a) in the social field, the use of financial resources of the state for education, health, protection and social security, culture, art and sport, ecological protection and others, under the conditions established by law; b) support for priority research programmes, especially fundamental; c) in the economic field, facilities and other means established according to the law, the granting of subsidies, the realization of investments and other economic actions of public interest, within the limits of the budgetary allocations established by the annual budgets approved in the law; d) ensuring the defence requirements of the country and public order; e) the financing of the central and local state administration and other expenses provided by law. + Article 11 In the budget of the central state administration, in the state social insurance budget and in local budgets, no expenses can be entered and approved without the establishment of the resources to be carried out. In the course of budgetary execution, in cases where proposals are made to develop normative acts whose application attracts the reduction of incomes or the increase of expenses established by the budget, the initiators have the obligation to provide the means necessary to compensate for the revenue or cover of the expenditure increase. + Article 12 + Chapter 2 Development, approval, execution and conclusion of the state central government budget + Article 13 The revenues and expenses that are entered in the state central government budget will be grouped in: ordinary and extraordinary income and expenses, current and capital expenditures, with the specification of the nature of income and expenses and the conduct on the basis of the budget classification developed by the Ministry of Finance, which is published in the Official Gazette of Romania. The type budget classification will include titles, chapters, subchapters, paragraphs and articles, as well as paragraphs in case of necessity. Chapters and spending items will have a precise and limited destination. Personnel expenses will be presented distinctly by material expenses. It is forbidden to provide for the category of material expenses or other category of expenses an expense of personnel such as: salaries, daytime allowances, allowances and others of such nature. In the budget of the central state administration, under the conditions established by the Ministry of Finance, a special subchapter for remains to be collected from closed exercises will be provided for income, and at expenses, in special cases, an article for payment of amounts due, related to closed exercises. + Article 14 It shall be prohibited to cover the expenditure of the central government budget by recourse to monetary issuance or direct financing by banks. If the execution of the budget of the state central administration appear temporary house goals, they may be covered, until the income is collected, on account of the resources in the treasury accounts of the state established by the Ministry Finances. The annual law on the approval of the state central administration budget can authorize the Ministry of Finance that, during the execution of the budget, if necessary and with the approval of the Government, to issue treasury bills, bearers of interest and whose the maturity will not exceed the end of the financial year, in order to meet the state's expenses until the income is collected The treasury bills go into circulation by purchasing them by economic agents and the population. The total hoard vouchers will not exceed 8 percent of the total volume of the approved budget. The issuance of treasury bills can only be made in the first ten months of the financial year, and their withdrawal must be made starting in December, without exceeding the current financial year. + Article 15 In exceptional cases, the annual budgetary law can establish the granting by the National Bank of Romania of a loan, without interest, to cover the expenses of the state central administration budget, on account of lending resources its normal without exceeding 10 percent of the total approved budget. This loan is to be repaid in 6 months, on account of current budget revenues or a state loan made under a law. + Article 16 The constitution and use of financial means belonging to the state, outside the budget, can be done by law. In the cases authorized by law, it is constituted outside the budget of the central state administration special funds, whose budgets are approved by the Parliament as an annex to the budget of the central state administration. The execution of budgets on special funds shall be carried out according to the laws establishing these funds and the norms provided for in this law for the budget of the central state administration. + Article 17 The budget of the central state administration also includes the budgetary reserve fund at the disposal of the Government, which is used on the basis of its decisions, to supplement, in justified cases, some credits approved by the budget central state administration to finance, according to legal provisions, new actions or tasks that occurred during the year. + Article 18 The elaboration of the draft budget of the central state administration shall be provided by the Ministry of Finance, based on the budgets of ministries and other central state bodies, as well as projects of local budgets. + Article 19 The expenses for investments of public institutions, as well as other investment expenses, which are financed according to the law of the state central administration budget, are included in the draft of this budget based on the list of works, machinery, furniture and other investment objects, with deployment, both physically and as a value volume, elaborated by each ministry or other state body and annexed to its own budget. The list endorsed by the Ministry of Finance, is approved by the main loan body for investments up to 75 million lei by the Government for investments above this limit. Investment expenses shall be included in each chapter of the action to be financed from the budget of the central state administration. They will not be able to register in the list of investment-construction works for which on August 1 of each year the documentation provided by the law was not developed and approved. The design expenses included in the investments of public institutions shall be provided and borne from the budget of the principal authorising officer. For the investment objectives whose financial coverage is ensured, in full or in addition, from the budget of the central state administration, the technical-economic documentation is approved, with the prior consent of the Ministry of Finance, by Government for values of more than 500 million lei, by the main authorising officers for values between 100-500 million lei and by the other authorising officers for values up to 100 million lei. + Article 20 From the budget of the central state administration, transfers can be made for administrative-territorial units, in cases where they cannot cover their expenses from their own income established under the law. The transfers that are made from the budget of the central state administration, according to the previous paragraph, are approved annually by law for each county and Bucharest municipality. The transfer proposals that are requested by the counties and the city of Bucharest will be included in the respective projects, which are presented to the Ministry of Finance on the entire county, respectively the city of Bucharest, accompanied by the administrative-territorial components to which the expenses are higher than their own income. + Article 21 Ministries and other central state bodies are obliged, by June 1 of each year, to communicate to the Ministry of Finance any proposals for additional expenses or income reductions for next year, compared to the current year. Local bodies have the same obligations in case of request for increase of transfers compared to the current year. + Article 22 The draft budgets of the ministries, the other central bodies, as well as the projects of the local budgets, shall be submitted to the Ministry of Finance at the latest by July 1 of each year. The Ministry of Finance examines the draft budgets and, within 10 days of receiving them, requests the necessary changes to establish the budget balance. In case of differences, the Government decides. The draft budgets are submitted to the Ministry of Finance by September 1 of each year, accompanied by documentation and exposures of detailed reasons, both for income and expenses. The Ministry of Finance, based on these draft budgets and its own budget, draws up the draft budget of the central state administration, which it submits to the Government by September 25 of each year, accompanied by the draft law budgeting. After appropriation of the draft budget by the Government, it shall submit it to the Parliament, at the latest by October 10 of each year, accompanied by a report on the economic and financial situation of the country and its projection in the next year, such as and the draft budget law. The budget is approved by the Parliament until the latest on December 31 on the whole, by chapters, articles and by ministries and other central state bodies. + Article 23 The budgets of ministries and other central state bodies are included in the annexes to the budget of the central state administration. All revenues and expenditures of the state central government budget shall be provided in the budget of ministries and other central state bodies. The transfers to be made for the counties and the city of Bucharest, as well as all the revenues and expenses that are pursued and run through the Ministry of Finance, are provided in the budget. + Article 24 If the budget of the central state administration is not approved by the Parliament by December 31, the Government shall carry out the tasks of the previous year, but no more than three months. + Article 25 The following rules will be observed in the establishment of budgetary revenues: a) no tax, tax or other obligations of their nature may be entered in the budget and collected if they have not been established by law; b) the annual budget law approves for each year the list of taxes, fees and their quotas, as well as the other incomes of the state to be charged; c) it is forbidden to charge under any title and under any name of direct or indirect contributions, outside those established by law. + Article 26 The annual budget law approves the budget credits for the expenses of each budget year, in the structure established by that law. Allowances for personnel and capital expenditure will not be able to be increased either directly or indirectly through credit transfers, nor will they be able to be used in other expenditure items. The appropriations approved by the annual budget law for the expenditure of a budget year cannot be used to finance the expenditure of another exercise or budget expenditure, approved by a principal authorising officer, for financing Another officer's expense. Also, expenditure approved in one chapter cannot be used to finance the expenditure of another chapter. The transfers of budgetary appropriations between the other subdivisions of the budgetary classification, which do not contravene the provisions of this Article or the annual budgetary law, shall be within the competence of each principal authorising officer, for his own budget and budgets of subordinate units. In exceptional cases, the transfers from one chapter to another chapter of the budget classification can be carried out starting with the third quarter, with the agreement of the Ministry of Finance. + Article 27 The revenues and expenses approved by the budget of the central state administration shall be distributed by quarters according to the legal deadlines, the revenue collection and the period during which the expenses are necessary. The distribution by quarters of the revenues and expenses provided for in the budget of the central state administration shall be approved by: a) The Ministry of Finance, by chapters, at the proposal of ministries and other central state bodies; b) the principal authorising officers for their own budgets and subordinate units, as well as on the other subdivisions of the budget classification. + Article 28 Budget appropriations approved by the state central government budget can be used at the request of the main authorising officers, only after the opening of credits or the supply of funds by the Ministry of Finance of bank accounts open to them. The granting of funds from the state central administration budget is made within the budget appropriations and according to the approved destinations, in relation to the degree of use of the resources made available previously, in compliance with the legal provisions that regulates that expenditure. Transfers to administrative-territorial units, within the limits provided in the budget of the central state administration, shall be carried out through the Ministry of Finance on request and according to the needs of the budget execution. + Article 29 It is forbidden to make payments directly from the revenues collected for the budget of the central state administration, except when the law provides otherwise. The revenues that are achieved above those approved on the entire state central administration budget can be used during the year, after the consumption of the budget reserve, with the approval of the Parliament, to finance new tasks established by Law. + Article 30 The main authorising officers of the state central administration budget are the ministers and heads of the other central state bodies. The heads of public institutions with legal personality subordinated to the ministries and other central state bodies financed from the budget of the central state administration are, as the case may be, secondary or tertiary authorising officers. + Article 31 The principal authorising officers shall allocate the approved budget appropriations on the lower hierarchical units, in relation to their tasks, as well as the revenues included, according to the law, in their budgets and approve the expenditure of own budget, in compliance with legal provisions. Subsidies of any kind, provided to be granted from the budget of the central state administration, autonomous regions and commercial companies with state capital, shall be included and executed by the own budget of the central state ministry or body. The secondary authorising officers shall approve the expenditure of their own budgets, in compliance with the legal provisions, and shall allocate the approved budgetary appropriations on the lower hierarchical units, whose leaders are tertiary credits. The tertiary authorising officers shall use the budgetary appropriations allocated to them only for the needs of the units they lead, according to the provisions of the approved budgets and under the conditions established by legal provisions. + Article 32 The principal authorising officers may delegate the right to approve the use and distribution of budgetary appropriations to the rightful substitutes and to the heads of directions or other similar compartments, as appropriate. + Article 33 The main officers, as well as the secondary or tertiary authorising officers, are responsible for compliance with the legal provisions in the use of budget credits and the realization of incomes, the efficient use of the amounts received from the administration budget central state, the integrity of the goods entrusted to the unit they lead, the keeping up to date of accounting and the timely presentation of accounting statements on the budget execution. Any expenditure from the amounts allocated by the budget of the central state administration may be approved by the authorising officer and shall perform only if it was previously endorsed, according to the law, by the head of the financial-accounting department or other persons charged with the exercise of preventive financial control. + Article 34 In situations where on the basis of legal provisions place passes of units, shares or tasks from one principal authorising officer to another, the Ministry of Finance is authorized to introduce the corresponding changes in their budgets and in the structure of the state central government budget, without affecting the balance and budgetary reserve. + Article 35 The granting of subsidies from the state central administration budget to public institutions that realize, according to the law, extra-budgetary incomes or other institutions, associations or legal entities, other than state ones, shall be established by law and is approved, every year, by the budgetary laws. + Article 36 The amounts collected from the sale or from the valorization of the materials resulting from the demolition, dismantling or decommissioning, under the conditions provided by law, real estate or other material goods belonging to public institutions constitute income of the budget of the central state administration or of local budgets, as the case may be, and shall be shed to them according to the norms developed by the The amounts collected from the concession of some assets of the state constitute income of the budget of the central state administration or local budgets, as the case may be. + Article 37 The performance of the expenses from the state central administration budget will be possible only on the basis of supporting documents, drawn up in accordance with the legal provisions. + Article 38 The principal authorising officers have the obligation to analyze quarterly the need to maintain some budgetary credits for which, based on legal provisions or other causes, the tasks have been abolished or postponed and to propose to the Ministry Finance cancellation of those loans. The Ministry of Finance will ask the agreement of the principal authorising officer to cancel some credits found as without justification or of the Government in case of divergence. With the cancelled budget credits, the budget reserve fund at the disposal of the Government, provided for in the budget of the central state administration, + Article 39 On the basis of the accounting accounts presented by the principal authorising officers, the accounts for the class execution of the state central government budget presented by the bodies which, according to the law, have this task and following the verification and their analysis, the Ministry of Finance elaborates the works on the annual general account of execution of the state central administration budget, which it presents to the Government. The annual general account of execution of the state central administration budget will be drawn up in the structure of the budget approved by the Parliament and will have as annexes the annual accounts of execution of the budgets of the main authorising officers, including the to them. The government analyzes the works and presents the annual general account of execution of the state central administration budget for the approval of the Parliament, until June 1 of the year following the execution. The Parliament approves the annual general account of implementation of the budget of the central state administration, the latest by November 30 of the year following the one to which it refers. A date with the annual general account of execution of the budget of the central state administration shall be submitted, analyzed and approved and the execution accounts of the approved special funds. + Article 40 The central state body administering the state social insurance budget elaborates, under the law, the annual execution account of the state social insurance budget it presents to the Government, together with the verification report and analysis of the Ministry of Finance, at the latest by May 1 of the following year to which it refers. The government presents this account to Parliament, with the annual general account of execution of the state central administration budget. + Article 41 The annual accounts for the implementation of the budget of the state central administration, authorising officers and those on special funds shall include: On income 1. Budget assessments 2. Rights found 3. Proceeds made 4. Remained to be collected At expenses 1. Credits originally approved 2. Final credits 3. Payments made 4. Obligations with legal payment terms until December 31 + Article 42 The surplus or deficit of the state central administration budget is determined by comparing the revenue receipts made up to the closing of the budget year with payments made up to the same date, plus the obligations with legal deadlines payment until December 31 at expenses. The house situation is determined by comparison between receipts on income and payments on expenses. The Ministry of Finance has the obligation to propose to the Government the inclusion and other amounts of money owed by the state, according to the law, which appear and may be determined by 15 December. March of next year. In case of necessity, the Ministry of Finance will present to the Government, until March 31, a draft law to regularize the concluded financial year. + Article 43 In case of deficit, covered by vouchers of defaulted treasury or loan granted by the National Bank under the conditions of art. 15 of this law, the Parliament decides, on the proposal of the Government, to cover the deficit and the measures to be taken to prevent the repetition of such situations in the next financial year. In case of surplus, the Parliament will decide, on the proposal of the Government, to what extent and for what purposes it will be used. + Article 44 From the surplus of the state central administration budget will be held annually a 50 percent share for the creation of a state trove fund. The treasury fund of the state shall be kept in special account at the National Bank, with the interest negotiated between it and the Ministry of Finance, and shall be used with the approval of the Parliament. For this fund, annual execution accounts are drawn up, which are subject to approval with the general account of execution of the budget of the central state administration. + Article 45 The Ministry of Finance will prepare annually the general account of the public debt of the state, in which the account of operations will be included in the country and abroad The general account of public debt will be attached to the annual general account of execution of the budget of the central state administration, which is submitted to the Parliament, according to the provisions of This account will also include the situation of government guarantees for internal and external credits received by other legal entities. + Article 46 Preventive and management control over public revenue and expenditure, as well as management control over the public patrimony, shall be exercised by the Ministry of Finance, its territorial bodies, as well as by the other bodies of state, under the conditions established by law. + Article 47 The works of preparation, approval and execution of the budget of the central state administration are based on analyses in execution and forecasts of the stages of evolution of the financial, monetary and foreign balance, of the internal and external debt of the state, in order to establish the direction of use of financial instruments to determine economic and social development. To this end, the Ministry of Finance prepares, coordinates and uses, under the law, in the management of the national treasury the projects and executions regarding: the general financial balance of the economy; external balance of payments; monetary expenditure of the population and money supply; balance of receivables and external commitments by country; balance of capital formation on economy; financial balance of resources and investment expenditure. + Chapter 3 Development, approval, execution and conclusion of local budgets + Article 48 The budgets of administrative-territorial units that have legal personality are understood through local budgets. Each commune, city, municipality, sector of Bucharest, county, respectively the city of Bucharest, prepares its own budget, under conditions of autonomy. The Government will take the necessary measures that, through the financial autonomy of the administrative-territorial units and through the budget of each unit, to stimulate the local initiative, in order to satisfy the local social requirements, local bodies to size the budget provisions according to their own needs and correlated with the possible budgetary resources to be mobilised, as well as to strengthen the social control over the efficient use of the allocated funds. + Article 49 The income of local budgets is formed by taxes, taxes and other income set by the annual budget law. + Article 50 From the local budgets are financed, under the conditions established by law, social-cultural actions, expenses of maintenance and functioning of local bodies of state administration, objectives and economic actions of local interest, as well as other objectives provided by legal provisions. + Article 51 The distribution of incomes and expenses by categories of local budgets, in cases where the law does not provide, is established by the decision-making bodies of each county, respectively of the city of Bucharest, depending on the duties of the local bodies of the state administration and the subordination of public institutions, as well as the budgetary balancing needs. + Article 52 In situations where the expenses provided in the own budgets of the counties and of the city of Bucharest and of some municipalities, sectors of Bucharest, cities or communes cannot be fully covered by their own income, for balancing the respective budgets can be established and approve transfers from the state central administration budget. Through the annual budgetary laws, some administrative-territorial units may be authorized to take out loans to cover expenses on the realization of thoroughly substantiated actions, through issuance of loan securities repayable in maximum 10 years. + Article 53 In the own budgets of the counties and the city of Bucharest, the municipalities and sectors of Bucharest, the cities and communes can register reserve funds at the disposal of the decision-making body of each administrative-territorial unit of up to 5 percent of the total expenses, which can be used to supplement some budget credits approved by local budgets, in order to finance new actions or tasks during the year. The budgetary reserve funds provided for in the previous paragraph may be increased, during the year, by up to 50 percent of their initial amount approved by budget, from the availability of budget credits that are no longer necessary until the end of the budget. year. The availability of budgetary appropriations from expenditure on staff and investments cannot be used with this destination. + Article 54 In cases where in the own budgets of administrative-territorial units the revenues exceed the approved expenses, including the budgetary reserve established according to the law, the differences are constituted as planned surpluses of each local budget within the limit of 2 percent of the total income; the rest is provided as a varsamint to the treasury fund that is constituted at the level of each county, respectively at the level of Bucharest. + Article 55 The main authorising officers of the local budgets are prefects at counties and mayors at Bucharest and at the other administrative-territorial units. The heads of public institutions with legal personality subordinated to the decision-making body of each administrative-territorial unit shall be, as the case may be, secondary or tertiary authorising officers. The principal authorising officers of the local budgets may delegate the right to approve the use and distribution of budgetary appropriations to their rightful substitutes or to the local specialized bodies of local government and other similar units. + Article 56 The projects of the budgets of administrative-territorial units shall be elaborated on the basis of draft budgets of the own administration and of public institutions in subordination, at the deadlines set by the county decision-making body, respectively Bucharest, at the proposal of the head of its financial body. The methodology for the elaboration and execution of local budgets is established by the Ministry of Finance. The draft budgets of the administrative-territorial units shall be submitted for approval to the local body elected at least 2 months before the beginning of the year Each local budget is approved on the whole, by chapters, articles and authorising officers. + Article 57 In order to cover any temporary gaps occurring during the year between the expenses and revenues of the own budgets of the communes, cities, municipalities and sectors of Bucharest, temporary loans from the funds of treasury constituted according to the law. The right to approve such loans have the local bodies elected at the county level and the city of Bucharest. From the same funds and under the same conditions, loans can be granted if the respective gaps also occur at the level of the county's own budgets and the city of Bucharest. Loans granted according to par. 1 1 and 2 of this Article shall be reimbursed by 31 December of each budget year. In exceptional cases, in which the loans were not repaid until the end of the year due to the lack of budgetary availability, they are provided for reimbursement in the budgets of the following years, for up to 18 months, with a interest whose limit the maximum will be established by the Ministry of Finance and which is collected at the county treasury fund, respectively of the city of Bucharest. + Article 58 In order to carry out social-cultural actions and to cover economic expenses of local interest, the decision-making bodies of the administrative-territorial units can approve and use a maximum of 50 percent of the amounts collected from their own income the respective local budgets above those approved, under the following conditions: a) the excess of the proceeds to be made on the totality of own incomes established by the respective local budget and to remain until the end of the year b) the income pluses must come from the activity of the year and not be the result of changes in the legislation or certain undervaluations found by the control bodies provided by the law; c) the administrative-territorial unit does not have defaulted loans. The amendments made and approved by the local budgets, according to the provisions of this Article, shall be subject to the ratification of the elected local body at its first session. + Article 59 The annual surplus balances of local budgets shall be used in order to: a) repayment of any loans from previous years unsettled and payment of interest on these loans; b) of the remaining amount is reserved and a 50 percent share is paid to the county treasury fund, respectively of the city of Bucharest, as the case may be, and the difference is constituted as own bearing fund, which can be used, temporarily, to cover some possible house goals, gaps between the revenues and expenses of the current year. The bearing fund is kept in the available account of the budget of each administrative-territorial unit and will not be able to exceed 5 percent of its own income approved by the local budget. Also flows to the county treasury fund, respectively of the city of Bucharest, as the case may be. + Article 60 Expenses for investments of prefectures and municipalities, public institutions of local subordination, as well as other investment expenses, which are financed according to the law from local budgets, are entered in the budget of each unit administrative-territorial, based on the list of works, machinery, furniture and other investment objects. Definitive lists are approved according to art. 19 of this law, with the opinion of the Ministry of + Article 61 The decision-making bodies of the administrative-territorial units shall draw up and submit the annual accounts for the execution of the local budgets, for approval, to the elected local bodies, until June 1 of the following year. + Article 62 The county treasury funds and the Bucharest municipality constituted according to the law are kept in special accounts at the banking units, with a negotiated interest, and are used under the conditions provided by law. For these funds, execution accounts are drawn up annually, which are submitted for approval once with the execution account of the county budget, respectively of the city of Bucharest. In justified cases and especially in the first year of the application of this law, the Ministry of Finance may provide in the budget of the central state administration allowances for the establishment or increase, as the case may be, of the treasury funds of the counties and of Bucharest. + Article 63 Until January 10 of each year, the budgets of each county, namely the city of Bucharest, grouped within each county and the city of Bucharest, on communes, cities, municipalities, sectors of Bucharest and own budget, on the structures of the budget classification established by the Ministry of Finance. + Article 64 On a quarterly basis, the decision-making bodies of the administrative-territorial units draw up accounting reports in the field of public finances, which will be transmitted to the Ministry of Finance, at the deadlines and according to the norms The Ministry of Finance presents to the Government, until April 30 of each year, the annual synthesis of local public finances, with conclusions and proposals regarding their role in carrying out the tasks of local bodies of state administration. + Article 65 The house execution of local budgets shall be carried out by the bodies provided by law for the collection of incomes, for the payment of expenses and their records, for the budget of each administrative-territorial unit, as well as for transfers of funds and subsidies provided by law. + Chapter 4 Financial institutions ' + Article 66 The financing of operating expenses and investments of public institutions shall be ensured as follows a) fully from the budget of the central state administration or local budgets, as the case may be, depending on their subordination; b) of the extra-budgetary income and subsidies granted from the budget of the central state administration or local budgets, depending on the subordination; c) in full from the extra-budgetary income; d) of extra-budgetary income with special purpose for certain expenses established by law to be financed from these incomes. + Article 67 Public institutions can also use for the deployment and broadening of their activity material and money means received from legal and physical persons, through free transmission, in compliance with the legal provisions. They are managed according to the rules on public finances and in compliance with the destinations established by the transmitter. + Article 68 The financing of the expenditures of some public institutions, especially in the social-cultural field, regardless of subordination, is ensured both from the budget of the central state administration, and from the budget of an administrative-territorial unit, only in the cases in which the categories of expenditure to be financed from each budget are established by law. + Article 69 The extra-budgetary income of public institutions is collected and accounted for by the institutions concerned, according to the rules for public finances, without paying out of these to the budget of the central state administration or local budgets unless the law provides otherwise. The annual balances resulting from the implementation of the budget of the publicly funded public institutions shall be taken as income in the following year. The budgets of public institutions financed by extra-budgetary means shall be included in the centralised budget of the principal authorising officer. The non-budgetary incomes of the public institutions come from taxes, rents, cultural events, capitals from their own activities or annexes, artistic competitions, publications, impresarios, exploitation of films, editorial performances, consultations and medical services, studies, projects, services, works, exploitation of goods that they have in administration and others, established by the laws of organization of institutions or Government. + Article 70 Payments for investments of public institutions are made through banks that, according to the law, execute these basic operations: the list of works, machinery, furniture and other investment objects, the technical documentation pre seen by law and money means submitted by the institution, in compliance with the legal provisions on investments and their settlement. With fixed assets resulting from investment expenses or received by free transfer, the social fund of the public institution is increased. + Chapter 5 Common, transitional and final provisions + Article 71 The budget year is annual and coincides with the calendar year All rights granted, operations carried out in the course of a year, including obligations and rights accruing, directly or indirectly, to a budget during the period of that year shall belong to the corresponding budget execution year. For all economic agents, the financial year has the same duration as the budget year. + Article 72 The implementation of the budget shall be concluded on 31 December of each year. Any income and any expenses incurred until December 31 will be charged or paid into the budget account for the following year. Unused budget appropriations until the end of the year are annulled by law. Loans approved from special funds not used at the end of each financial year shall be reported in the next year, with the original destination. + Article 73 Non-compliance with the deadlines for the payment of the amounts due to the budget of the central state administration and local budgets attracts the obligation to calculate and collect the increase of delay provided by law. The collection to the budget of the central state administration, the local budgets and the state social insurance budget of the amounts due and unpaid within the period by the legal and physical persons shall be made by application of the fiscal procedure rules and forced execution provided by law. Romanian legal entities, as well as individuals who have the status of trader, have the obligation to account for patrimonial operations in lei, according to the legal norms on the unified accounting system of the national economy, thus ensuring the conditions for the execution of the control over the budget amounts. + Article 74 No expenditure can be entered in the budget of the central state administration, local budgets and the state social insurance budget nor carried out from these budgets if there is no legal basis for such expenses. + Article 75 From the budget of the central state administration or from local budgets, grants or transfers of a general nature may be granted or with destinations for certain expenses to institutions, associations or other legal entities that are not state and do not have economic and financial autonomy, as well as international units or bodies, as contributions of the state's contribution, only in the cases and conditions provided by law. Such grants or transfers shall be provided and shall be granted from the budgets of the principal authorising officers, distinctly in the categories set out in the preceding paragraph + Article 76 The amounts approved by the state central administration budget, local budgets and the state social insurance budget, within the limits of which expenses can be made, represent budget credits, which cannot be exceeded. The commitment of expenditure from these budgets can only be made within the approved annual budget appropriations. + Article 77 The legal provisions in the field of elaboration, approval and execution of the budget of the central state administration also apply in the field of local budgets and state social insurance budget, insofar as for them it is not otherwise ordered by present law. + Article 78 Until the choice of local bodies, the elaboration, application, execution and conclusion of local budgets shall be made by the bodies appointed according to the law. + Article 79 The provisions of this Law shall apply from 1 January 1991. + Article 80 On the date of entry into force of this Law, Law 9/1972 is repealed, amended and supplemented by Law 2/1979, as well as any other provisions to the contrary.