The soviets collect taxes and rates for exclusively local economic needs. The requirements of the state as a whole are met out of resources allocated by the State Treasury. No expenditures can be made out of the resources of the State Treasury unless provided for in the state budget, or without a special decision of the central authority. To meet needs of national importance, local soviets are allotted credits by the appropriate People's Commissariats out of State Treasury funds. All State Treasury credits, and credits approved for local needs, are expanded by soviets strictly as provided for in their budgets, and cannot be used for other purposes without a special decision of the All-Russian Central Executive Committee and the Council of People's Commissars.
Local soviets draw up half-yearly and yearly estimates of revenues and expenditures for local needs.
The estimates of village and volost soviets and soviets of cities participating in uyezd congresses, and those of the uyezd organs of Soviet power, are approved by the respective gubernia and oblast congresses or their executive committees the estimates of city, gubernia and regional bodies of Soviet power are approved by the All-Russia Central Executive Committee and the Council of People's Commissars. Should the need arise for expenditures insufficiently provided for in the estimates, or not provided for at all, the soviets apply for additional allocations to the respective People's Commissariats. In the event of local resources proving insufficient to satisfy local needs, the issue of subsidies or loans to local soviets necessary to cover urgent expenditures is authorized by the All-Russia Central Executive Committee and the Council of People's Commissars.