Sources of risk in financial management of the city on the example of Łódź
Journal Title: Zarządzanie i Finanse - Year 2013, Vol 11, Issue 2
Abstract
The article aims to identify the main sources of risk in the financial management of the city of Łódź in the specific conditions of time and place. The main research method used in the study was a descriptive analysis based on the analysis of current financial plans, documents and publicly available information on the budget economy, investment activity and the management of the city finance. The study commences with considerations on the types of risk in a wider and narrower, local government, contexts. Attention has been paid to both the endogenous and exogenous factors which are related, for example, to the legislative activity of the state. Further on, the current and forecast financial situation of the city has been presented in the light of the opinion of the Adjudicating Panel of the Regional Accounting Chamber on the draft budget for 2013 and some elements of the Multi-Annual Financial Forecast for the years 2013–2031. The opinions of the Regional Accounting Chamber point to the risk associated with such factors as: high dynamics of debt, postponed repayment of liabilities, assumed levels of operating surplus, current revenues and capital expenditures. The conclusions include general remarks on the risks in the management of the city’s finance in the coming years and in the multi-year perspective.
Authors and Affiliations
Beata Guziejewska
Keywords
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