Ovcharov A.O.Lobachevsky State University of Nizhny Novgorod - National Research University, Nizhny Novgorod, Russian Federation anton19742006@yandex.ru
Matveev V.A.Lobachevsky State University of Nizhny Novgorod - National Research University, Nizhny Novgorod, Russian Federation super.vma@yandex.ru
Importance Financial and economic volatility requires developing and implementing principles for safe and break-even investing financial resources that have special social significance. The article discloses key issues of the public finance governance system. The research focuses on the contemporary methods for calculating insurance rates as part of compulsory social insurance. Methods The article draws upon general research methods of analysis, comparison, generalization, and special statistical methods for processing economic data on compulsory social insurance. Results The research displays the role the public extra-budgetary funds management system plays, and identifies some challenges relating to the unbalanced and inefficient use of public extra-budgetary funds. The research also demonstrates how ineffectively extra-budgetary funds are used, and the need to improve public extra-budgetary funds management. We propose a new set of principles and original methods for assessing insurance rates using official statistical data and expert evaluations. The article analyzes whether it is possible to put into practice a model for managing public extra-budgetary funds that would include factors describing the socio-economic situation and political circumstances in the country and abroad. The article reflects the main components, methods for quantitative evaluation of factors, and the principles of forming performance indicators. Conclusions and Relevance It is necessary to enhance the role of insurance in public extra-budgetary funds, apply the improved methods for assessing insurance rates as part of compulsory social insurance. Such measures should considerably contribute to socio-economic stability.
Keywords: extra-budgetary funds, public finance, rate of return, projected rate of return, efficiency, investment management, insurance rate, economic volatility
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