The role of budgets in strengthening the financial base of local self-governments

El papel de los presupuestos en el fortalecimiento de la base financiera de los gobiernos autónomos locales

• Veronika Khudolei Academician Yuriy Bugay International Scientific and Technical University, Kyiv, Ukraine. https://orcid.org/0000-0002-6658-7065
• Oksana Karpenko IHE "Academician Yuriy Bugay International Scientific and Technical University", Kyiv, Ukraine. https://orcid.org/0000-0003-2943-1982
• Iryna Tarnovska State University of Infrastructure and Technologies, Kyiv, Ukraine. https://orcid.org/0000-0003-2027-946X
• Iegor Biriukov IHE "Academician Yuriy Bugay International Scientific and Technical University", Kyiv, Ukraine. https://orcid.org/0000-0001-5333-8839
• Ivan Smyrnov Chernihiv Polytechnic National University, Chernihiv, Ukraine. https://orcid.org/0000-0003-4935-4777

DOI: https://doi.org/10.46398/cuestpol.4075.11

Keywords: local budget, public finance, local self-government, territorial community, fiscal policies

Abstract

The purpose of this study was to justify the role of local budgets in strengthening the financial base of local self-government in modern conditions of social development, oriented to the processes of democratization and decentralization of political power. The research methodology used was an integral approach, which allowed investigating the role of local budgets in strengthening the financial base of local self-government from an economic, organizational and legal point of view. A comprehensive approach allows to systematically address the definition of the role of local budgets and to highlight their specific characteristics. It is concluded that, scientifically identifying the various aspects of the functioning of local budgets allowed to distinguish their essence from the point of view of combining organizational, economic and legal approaches to, at the same time, consider them as a multifunctional system of financial, economic, legal and social relations, which provides for the possibility of  redistribution of income due to the creation and use of monetary funds of the authorities of local  authorities, to meet the public needs of the population and sustainable development of the territories.

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