Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-05-Speech-2-391-500"
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"en.20110705.34.2-391-500"2
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"According to Article 37 of the Financial Regulation, the Commission may present preliminary draft amending budgets if there are ‘unavoidable, exceptional or unforeseen circumstances’. Paragraph 3 states that ‘the budgetary authority shall discuss them with due account for their urgency’. The Regulation stipulates that the balance from each financial year, whether surplus or deficit, is entered as revenue or expenditure in the budget of the subsequent financial year through an amending budget to be submitted by the Commission within 15 days of the submission of the provisional accounts. By incorporating the surplus into the budget, the overall contribution of Member States towards funding the EU budget is reduced accordingly. The overall reduction for individual Member States will also be affected by an updated forecast of own resources (traditional own resources, value added tax and gross national income), including the updated United Kingdom correction amount. In June, within the framework of a separate Draft Amending Budget, the Commission will present updated forecasts which should lead to further changes in the contributions of individual countries. The aim of the third Amending Budget is to incorporate the surplus from the 2010 budget, amounting to EUR 4 539 394 283, into the new budget. Through this method, the overall contribution of Member States towards the 2011 EU budget will therefore be reduced accordingly."@en1
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