PROBLEMS OF FINANCIAL MANAGEMENT IN THE BUDGETARY PROCESS OF MUNICIPAL AND TERRITORIAL FORMATIONS

Abstract

Purpose: The Aim of the research is the development of methods to assess the level of vulnerability of the system model of financial management of the municipality at critical points of its elements and elaboration of the directions of its improvement. Discussion: the relative autonomy of the municipalities is implemented in the Russian Federation through the delegation of limited financial rights and responsibilities to the heads of local governments in the field of formation and spending of budgetary funds entrusted to territorial entities and the implementation of delegated budgetary authority on forecasting, planning, organization and implementation of budget process at municipal and territorial levels. Results: the Authors suggest possible directions of improving the system of financial management of municipalities.