TREASURY EXECUTION OF LOCAL SPENDING BUDGETS: PROBLEMS AND SOLUTIONS

Abstract

The theoretical and practical aspects of using a treasury management system for servicing of local budgets are considered; the role of treasury bodies in routine management of local finances is defined. Current problems of treasury-based execution of local spending budgets are investigated and main deregulating factors affecting the procedure of cash execution of budgets are arranged in a system.Ways to improve budget funds management at the local level are proposed including: improvement of regulatory and software support of the budget process participants; improvement of a system of information exchange between Federal Treasury authorities, budget holders and operational financial bodies; replacement and retrofitting of outdated operating systems and the technological structure of information-analytical support of the Ukrainian State Communications Committee bodies; enhancement and extension of methods for controlling budget revenues and expenditures of budget holders and recipients; improvement of the practice of keeping account of local budget operations on budget resources.

Keywords

• treasury system
• local budget resources
• cash revenues
• holders and recipients of budget funds
• holders’ budgets