Budget of participation - innovative approach of distribution of local budget
Journal Title: Економіка. Фінанси. Право - Year 2019, Vol 2, Issue
Abstract
Introduction. In the conditions of budgetary decentralization of financial resources of local self-government bodies in the pro-cess of providing citizens with public services financial and economic relations arise. They require careful research to optimize local budget expenditures and ensure the sustainable development of administrative-territorial units. Purpose. The purpose of the paper is to study the budget of participation as one of the mechanisms of public participation in the budget process and to monitor the expenditures of local budgets in the context of fiscal decentralization. Results. The article analyzes the features of local budget expenditures financing in the context of financial decentralization. Expenditures of local budgets are particularly closely related to the interests of all the population and have a significant impact on the social, cultural, economic development of specific territories and the state in general, therefore, public budgeting is one of the mechanisms of public participation in the budget process and is a democratic process that involves granting citizens the right to dis-tribute part of the local budget. The key aspects of forming the budget of participation in the composition of local budgets are sum-marized. The funds of the Kharkiv public budget are directed to innovative projects that involve the development of urban infrastruc-ture by using modern approaches and technologies which are designed to raise the city and urban infrastructure to a qualitatively new level of development. The mechanism of interaction between the executive authorities of the Kharkiv city council and the city re-sidents in the issues of distribution of budget funds and the main elements of public budgeting is explored. It has been shown that control, monitoring of projects implementation and evaluating of their effectiveness is one of the most important stages of public bud-geting. This will make it possible to adjust the priorities of the Program and to provide effective control by the community over the target spending of budget funds. Conclusion. According to the results of the study, it was proposed to optimize the local budget expenditures by increasing the level of transparency of the decision-making process by providing residents with the opportunity to influence the budget policy. The tool of public participation in the budget process should be a public budget that will allow residents to decide on their own, on which needs funds from the local budget should be directed.
Authors and Affiliations
Tetiana Eduardivna Horodetska, Anastasiia Serhiivna Sukhomlynova
Keywords
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