Funds and property of treasury enterprises: financial and legal meaning
The article is devoted to the financial legal matters regarding funds and property of treasury enterprises. The position of the legislator is due to the specificities of the legal status of the treasury enterprises. The charter of the treasury enterprise may provide for the reserve funds and other types of funds. The funds are made by the enterprises based upon their profits, remaining within their competence. Formation of the legal competence of a treasury enterprise is not related to the moment, when the property is transferred to it. Without transfer of property, the only limitation regards responsibility of the treasury enterprise, while its owner may be brought to subsidiary responsibility. Bringing the owner to subsidiary responsibility is due to the absence of authorized capital stock, which is a typical feature of treasury enterprises. Financial legal value of this feature differing treasury enterprises from the enterprises under operational control is that the establishment of the treasury enterprise is the moment when its financial legal competence appears, at the same time with their legal capability. At the same time reserve fund has special value as a guarantee of interests of owners of an enterprise, allowing to cover the losses, since financial and economic activities of treasury enterprises are subjected to some risks. The treasury enterprise also forms social and housing funds, funds for the development of an enterprise, material support of employees, their specific amounts being established by the collective agreements.