Penza, 13 February 2015. PenzaNews. The 2014 audit of the Accounts Chamber of the Penza region has revealed fiscal violations and deficiencies that resulted in a total of 362 million rubles of losses, ineffective funds use notwithstanding.

Out of the aforementioned amount, 4.2 million was attributed to improper use of budget funds.

According to the report of the Accounts Chamber of the region over the past year, the most notable fiscal violations were related to the law on the provision and use of public subsidies: they led to 225.6 million rubles of losses.

39.8 million rubles were lost to misuse of budget funds.

In addition, the audit has revealed inefficient use of budget funds for a total of 380.5 million. It mostly concerns unproductive use of budgetary funds, such as failures to fulfill the criteria of efficient program implementation, use of funds for program activities past deadline, and so forth.

The 2014 audit spanned over 12 executive authorities, 13 region public institutions, 27 local authorities with the structural units and 16 other organizations that received budget funds.