Overdue debt related to the performance of financial and budgetary obligations of a subject of the Russian Federation (municipal formation) – definition and meaning of "Overdue debt related to the performance of financial and budgetary obligations of a subject of the Russian Federation (municipal formation)"

Overdue debt related to the performance of financial and budgetary obligations of a subject of the Russian Federation (municipal formation) — unfulfilled obligations under the terms set by the relevant contracts (agreements) of the subject of the Russian Federation (municipal formation), conditions for issuing financial obligations of the subject of the Russian Federation (municipal debt); deadlines for the obligation of the subject of the Russian Federation (municipal debt) regarding servicing and (or) repayment of the state debt of the subject of the Russian Federation (municipal debt); unfulfilled budgetary obligations of the subject of the Russian Federation (municipal formation), recognized as such by a court and (or) by the executive authorities of the subject of the Russian Federation (local self-government bodies), including when submitting to the Ministry of Finance of the Russian Federation (executive bodies of the state authority of the subject of the Russian Federation) budgetary reporting¹.

Federal Law No. 120-FZ of August 20, 2004, "On Amending the Budget Code of the Russian Federation in Respect of Regulation of Inter-Budget Relations" of August 20, 2004, as amended on November 29, 2014, Article 142, paragraph 4#4 // RSZ RF. 2004. No. 34. Art. 3535. ↩