The role of local budgets in the socio-economic development of the municipal territory

Abstract

In modern society, local self-government plays the most important role in the socio - economic development of the regions of the Russian Federation. It is the basis on which the formation of the economy of our country. To perform the functions assigned to the local self-government bodies, they are endowed with the relevant rights, property base, material and financial resources.The financial basis of local self-government consists of local budgets. The budgetary and property rights granted to these bodies enable them to draw up, review, approve and execute their budgets, manage the enterprises transferred to them and receive income from them.

Keywords

• regional economy
• municipal formation
• local governments
• local budgets