Finance and Credit
 

Financial support to municipalities in the Russian Federation: Key challenges and solutions

Vol. 24, Iss. 9, SEPTEMBER 2018

Received: 13 November 2017

Received in revised form: 26 July 2018

Accepted: 9 August 2018

Available online: 28 September 2018

Subject Heading: Financial system

JEL Classification: H30, H40, H72, H75

Pages: 2086Ц2104

https://doi.org/10.24891/fc.24.9.2086

Balynin I.V. Financial University under Government of Russian Federation, Moscow, Russian Federation
igorbalynin@mail.ru

https://orcid.org/0000-0002-5107-0784

Subject Modern socio-economic conditions require new approaches to financial support for municipalities in the Russian Federation.
Objectives The article focuses on conceptual features of municipality budget management, unveils key problems and offers solutions.
Methods The methodology of the study relies on scientific review, generalization, analysis, comparison, and synthesis.
Results I define types of local budgets, the main sources of income, and key expenditures by local budget type. The paper presents a set of actions aimed at immediate and efficient solutions to detected problems in municipal budget management in the Russian Federation.
Conclusions Current conditions necessitate modernization of methodology for municipal budget management, considering the new social and economic challenges and using the modern tools, like participatory budgeting, self-taxation, etc. To improve the financial security of municipalities, it is crucial to amend the Budget Code of the Russian Federation, actively involve the academic community in solving the existing problems, devise long-term programs for socio-economic development of municipalities up to 2050. The findings are of practical significance. They may be helpful in decision-making process for municipality budget management perfection and in educational process of higher schools and colleges.

Keywords: local budget, budgeting, self-taxation, participatory budgeting, municipality

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