The Russian government will appropriate to the Russian Highways State Company from the 2010 federal budget a subsidy of up to 4 billion 911 million 124 thousand rubles. The amount is fixed in the resolution #390 of June 1 posted on the government website.
The funds are appropriated for trust management of highways by the state company and include payments by the Federal Road Agency for capital overhaul, repairs and maintenance of federal highways M-1 Belarus and M-4 Don remitted before the mentioned highways were transferred to the trust management of the state company.
The Russian Transport Ministry was instructed to ensure the provision of the subsidy in compliance with established rules at the expense of budget appropriations envisaged for the Federal Road Agency in the 2010 federal budget according to budget expenditure item for Repairs and maintenance of federal highways in the subsection Road industry of the section National economy.
The Russian government also approved the rules for the provision of the subsidy from the 2010 federal budget to the Russian Highways State Company to finance trust management of highways.
To receive the subsidy the state company shall conclude with the Russian Transport Ministry a subsidy agreement which stipulates the time, form and order of accounting reports about the use of the subsidy and establishes the responsibility of the parties for violations of the agreement. The subsidy shall be remitted in three disbursements (quarterly) according to the rules fixed in the agreement to the account of the territorial body of the Federal Treasury at the place where the state company opened its account. The Russian Transport Ministry and the Federal Service for financial and budget supervision shall control the appropriate use of the subsidy.
