Correlation Between Factors and Expenditures of the Chernivtsi Region Department of Social Insurance Fund for Temporary Disability

To determine the correlation dependence between the total sum of expenditures incurred by the Social Insurance Fund for Temporary Disability ("SIFTD") and social, economic factors: average daily wages, number of the paid temporary disability days, number of the days of the maternity leave, average daily temporary disability financial aid, number of vouchers for sanatorium and resort measures, number of the children who were sent for recreation, number of children who attended sport schools for children and young people, the author has established the regression equation and defined the correlation ratios for all factors by way of verification whether the equation is significant in aggregate as per the F - statistics, the stage%by%stage exemption of the variables from the given equation in accordance with the principle of the minimum module t - statistics, and calculation at every stage of the new t - statistics. Activities of the Social Insurance Fund for Temporary Disability depend on the economic, social and political factors that influence the social insurance system. Low dynamics of the wages increase is a negative factor of the impact on the level of the receivables of the Social Insurance Fund for Temporary Disability that affects the financial condition of the Social Insurance Fund for Temporary Disability, material security of the insured individuals in the event of the insurance case, as well as the provision of the social services, i.e. the expenditures. Therefore, all these factors shall be taken into account for effective functioning of the Social Insurance Fund for Temporary Disability and increase of the material security of the insured individuals. The purpose is to analyze the dependence of the expenditures of the budget on the various factors for the purpose of further minimization of the expenditures. Deficit of the budget of the Social Insurance Fund for Temporary Disability (excess of the expenditures over income) in 2008 was UAH 4874 thousand. In 2009 excess of the expenditures over income was UAH 10009 thousand, and given the fulfillment of the budget of the SIFTD, the deficit of the budget amounted to