Features of Budget Execution in Public Institutions’ Budgets Entirely Funded by Public and Local Budgets; Case Study in an Educational Institution

Budgeting, a set of steps taken by state competent bodies in order to materialize the financial policy applied by governmental authority, takes place in the following stages: setting out the budget statement, approving the budget, budget execution, budget execution completion, controlling and approving budget execution completion. Budget execution is described in specialized literature especially as a stage in the budgeting process in the components of the national public budget (public budget, social insurance budget, budgets of territorial administrative units). The present paper aims at highlighting several features of how budget execution takes place in the budgets of public institutions which are entirely funded by the public budget and local budgets.