Reporting and audit

Reporting on National Wealth Fund assets operations

Ministry of Finance monthly reports on inflow and outflow of oil and gas revenues of the federal budget, value of National Wealth Fund assets at the beginning of reporting month, inflows and outflows to the Fund and allocation of National Wealth Fund assets in reporting month.

Since 1 January 2010 till 1 January 2014 Ministry of Finance doesn’t report on inflow and outflow of oil and gas revenues of the federal budget and also on inflows to the National Wealth Fund. [1]

In scope of report on execution of federal budget Ministry of Finance quarterly provides to the Government reports on inflow and outflow of oil and gas revenues of the federal budget, management and use of National Wealth Fund assets.

Since 1 January 2010 till 1 January 2014 operations with oil and gas revenues of the federal budget are not conducted and not reflected in Ministry’s reports on execution of federal budget.[2]

In scope of report on execution of federal budget the Government provides to the both Chambers of the Russian Parliament (State Duma and Council of Federation) reports on inflow and outflow of oil and gas revenues of the federal budget, accumulation, management and allocation of National Wealth Fund assets.

Since 1 January 2010 till 1 January 2014 the Government doesn’t provide report on inflow and outflow of oil and gas revenues of the federal budget and on accumulation of National Wealth Fund assets.[3]

Audit of operations with National Wealth Fund assets

In scope of execution of federal budget Accounts Chamber of the Russian Federation examines accumulation, expenditure and management of National Wealth Fund assets.[4]

Accounts Chamber quarterly provides to the Chambers of Russian Parliament report on execution of federal budget which shall include information about incomes received and expenses made, including accumulation, expenditure and management of National Wealth Fund assets.

[1] In accordance with Federal law No. 245-FZ dated 30 September 2010 “Amendments to the Budget Code of the Russian Federation and particular legislative acts of the Russian Federation".

[2] Ibid.

[3] Ibid.

[4] Based on Federal law No. 4-FZ dated 11 January 1995 “Accounts Chamber of the Russian Federation”.