Post by account_disabled on Feb 24, 2024 23:18:09 GMT -6
As a result of the vote of the rapporteur minister: “It is important to highlight that this rule does not prohibit the use of revenues arising from credit operations to carry out current expenses, which are those intended to pay of the State's routine activities, such as funding the administrative structure, personnel expenses, purchasing materials and paying for services provided. These are expenses necessary for the maintenance of the state apparatus, considered economically unproductive, given that they add nothing to public assets. The constitutional provision in question only determines that the amount of credit operations cannot exceed the amount of capital expenditure. In other words: the amount of capital expenditure must be greater than or equal to income from credit operations. The intention is that the debt serves to make investments, not to simply fund the functioning of public administration” .
It can be stated, in a nutshell, that it has been established that the calculation between the use of capital revenues and capital expenditures cannot be determined in advance (at the time of carrying out the credit operation, or when obtaining capital revenues) and the implementation of the golden rule must be carried out globally , by its amounts, and not through the analysis of isolated items , which can only occur a posteriori , which reinforces the control system , via the Audit Courts
Weder de Oliveira, substitute minister of the Federal Court of Auditors B2B Email List asserts: “What matters, for the purposes of the “golden rule” is the comparison between the amounts ”. In the same sense, Edson Ronaldo Nascimento [2] teaches : “Revenues from credit operations carried out in the context of the management of federal public securities debt will only be considered in the financial year in which the respective expense is incurred.” The National Treasury Secretariat, in a newsletter on the topic, adopts the same understanding.
This determination to determine public accounts, in addition to being legally correct, has an operational logic, as some expenses may momentarily be more of a priority than others. An example clarifies: it may be necessary to pay salaries each month, and the available resources come from an item whose funds came from capital revenues . It turns out that expenditure on salaries is a current expense, not a capital one, but this does not prevent other funds from being used for capital expenses over the annual period , which may come from current revenues. It's just about making financial dynamics viable .
The only way to verify this calculation is through the General Balance Sheet of the public entity, at the end of the year, in view of the principle of budgetary annuality, which determines the beginning of the calculation of public accounts, represented by the budget , on January 1st and ending on December 31st of each year (article 34, Law 4,320/64). Therefore, the calculation must be considered annually, and not through divided items.
In summary: if the General Balance Sheet records capital expenditure in an amount greater than capital revenue , including loans made, the golden rule will have been respected. The STF was correct in the commented decision.
It can be stated, in a nutshell, that it has been established that the calculation between the use of capital revenues and capital expenditures cannot be determined in advance (at the time of carrying out the credit operation, or when obtaining capital revenues) and the implementation of the golden rule must be carried out globally , by its amounts, and not through the analysis of isolated items , which can only occur a posteriori , which reinforces the control system , via the Audit Courts
Weder de Oliveira, substitute minister of the Federal Court of Auditors B2B Email List asserts: “What matters, for the purposes of the “golden rule” is the comparison between the amounts ”. In the same sense, Edson Ronaldo Nascimento [2] teaches : “Revenues from credit operations carried out in the context of the management of federal public securities debt will only be considered in the financial year in which the respective expense is incurred.” The National Treasury Secretariat, in a newsletter on the topic, adopts the same understanding.
This determination to determine public accounts, in addition to being legally correct, has an operational logic, as some expenses may momentarily be more of a priority than others. An example clarifies: it may be necessary to pay salaries each month, and the available resources come from an item whose funds came from capital revenues . It turns out that expenditure on salaries is a current expense, not a capital one, but this does not prevent other funds from being used for capital expenses over the annual period , which may come from current revenues. It's just about making financial dynamics viable .
The only way to verify this calculation is through the General Balance Sheet of the public entity, at the end of the year, in view of the principle of budgetary annuality, which determines the beginning of the calculation of public accounts, represented by the budget , on January 1st and ending on December 31st of each year (article 34, Law 4,320/64). Therefore, the calculation must be considered annually, and not through divided items.
In summary: if the General Balance Sheet records capital expenditure in an amount greater than capital revenue , including loans made, the golden rule will have been respected. The STF was correct in the commented decision.