In this article you will find information about debt consolidation company, debt free direct, debt help

Debt consolidation company

Currently, the autonomy of local governments is affected by several restrictions – in order to maintain their financial stability. For example, the act on national property restricts the rights of local governments regarding the founda tion of economic associations and the acqui sition of stakes in economic associations. At the same time it is a fact, as it has been men tioned before, that the State Audit Office of Hungary’s mandate only covers the auditing of business associations owned by local gov ernments since 2011, which had unforesee able consequences in the past few decades (see the Budapest Transport Company). Therefore, the restrictions set out in the act on national property serve transparency and efficiency, since it takes time for the government and the audit authority to acquire appropriate infor mation on all the companies owned by local governments.

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A local government can only have a stake in an economic organisation if its liability does not exceed its financial contribution (for ex ample, a limited liability company or a joint stock company). The business activities of local governments should not jeopardise the performance of their mandatory functions.

As of 1 January 2012,several restrictions ap ply to the transactions of local governments that create debt (such as taking out loans, is suing securities). These rules are contained in the Stability Act. Local governments may carry out transactions creating a debt only with the prior approval of the government (in special cases). They can take out only liquid loans for operating purposes, which means they cannot finance the deficit planned in their operational expenditures from external sources (loans), but only from internal sources (such as residues generated in the previous years). As of 2013, pursuant to the new statutory provisions, no operating deficit can be planned at all.

While local governments are partof the sys tem which executes public functions regulated by statutory provisions, they have relative eco nomic autonomy in terms of how these func tions are performed and in several other areas.

Debt help

Act XV of 1997 on the Declaration of the Eu ropean Charter of Local SelfGovernment sets out the following on the scope of authority of local governments (Article 4): “Public respon sibilities shall generally be exercised, in prefer ence, by those authorities which are closest to the citizen. Allocation of responsibility to another authority should weigh up the extent and nature of the task and requirements of efficiency and economy.” So, the Charter suggests that where a public function cannot be ensured on site, it should be carried out by the administrative authority that is closest to the citizens. This means that the foundation of joint local gov ernment offices (the new Local Government Act, Act CLXXXIX of 2011) is in accord with the European principles of local governments.

In accordance with the Local Government Act, as of 2013, towns within a borough with less than 2000 inhabitants must set up a joint local government office. The total population of settlements belonging to the joint office thus created should be at least 2000 or the number of villages should be at least seven.

Settlements with over 2000 inhabitants may also belong to the joint local government of fice set up by virtue of law. This measure can help generate considerable savings in costs and improve the level of services.

The county institutions and the healthcare institutions run by the Municipality of Bu dapest were transferred to the state’s mainte nance as of 1 January 2012, followed by the hospitals maintained by town local govern ments as of 1 May 2012.