Exercises

1. Answer the questions:

1. How often are the multiyear expenditure plans reviewed and approved?

2. What is the starting point for the next year’s budget?

3. How can we call changes to the previously approved levels?

4. What is the most important objective of the multiyear financial plan?

5. What are the differences between the multiyear financial plan of Germany, Canada and Great Britain?

6. What is the aim of budget classification system?

7. How are taxes classified?

8. What are the most useful types of government expenditures classification?

9. What are the differences between functional and economic classifications?

2. Find and read sentences explaining the title of the text.

3. Find in the text sentences expressing such ideas.

1. The future budget for the current year starts from the approving of the expenditure level for this year in the multiyear expenditure plan.

2. Canada and Great Britain have the same approaches to the working at the multiyear expenditure plan.

3. The forecasts of the financial consequences of current expenditures can substitute the multiyear expenditure plan.

4. A system of budget classification facilitates the financing activities of government.

5. All types of taxes have their own classifications.

6. The aim of functional classification is to analyze the trends in government expenditures.

7. The objective of economic classification is to show the kinds of transaction through which the government performs its functions.

8. These two classifications help to analyze government outlays.

4. Each sentence has a word underlined, replace it by the antonym with the help of prefixes un, dis.

1. It has become common for ministries of finance to practice some variety of multiyear budgeting.

2. All have multiyear expenditure plans which get reviewed and approved every year.

3. In Germany, the annual budget is integrated in a multiyear financial plan.

4. The objective of the multiyear financial plan is to monitor the possible existence of excessive demands on public resources.

5. The three-level Classification of the Functions of Government published by the Statistical Office of the United Nations is commonly accepted.

5. Match the words from a) with the words from b).

a) The starting Approved Offsetting Annual Multiyear Facilitate Financing Type Non-tax Nature Functional Distribution

b) Levels Budget Financial plan The analyses Activities Point Changes Of activity Of the inflow Classification Of income Revenue

6. Make up sentences putting the words in the correct order.

1. A, budget, of, facilitates, classification, the, system, financing, of, government, activities.

2. The, objective, classification, of, economic, is, show, to, kinds, the, at, through, transaction, the, government, which, its, functions, performs, of, the.

3. The, aim, multiyear, of, plan, the, is, monitor, to, possible, the, of, excessive, on public, demands, resources.

4. Capital, of, sold, by, type, the, asset, are, revenues, classified.

5. On, taxes, the, revenue, classified, by, are, of, activity, the, type, which, on, is, the, tax, levied.

6. Countries, do, multiyear, not, have, which, budget, out, carry, of, the, financial, forecasts, consequences, expenditures, of, current.

7. Outlays, classified, the, by, are, institutions, responsible, or, organization.

8. These, categories, wages, are, transaction, salaries, goods, of, purchases, debt, on, the, interest.