Tymoshenko O. Financial Potential of Local Communities

The thesis developed theoretical basis and proposed practical measures to improve the formation and implementation of the financial capacity of local communities. Essential characteristics of the financial capacity of local communities is defined, scientific approaches to its structure are generalized, the mechanism of its formation and implementation is revealed. The role of budgetary resources to ensure financial self-sufficiency of local communities in the context of changes in fiscal legislation is grounded. Methodological approaches to assess the impact of development and implementation of financial potential of local communities are developed. The priority directions of increase of financial capacity of local communities are defined. The expediency of increasing the revenue base of local budgets by improving the procedure of taxation of residential property and personal income is grounded. Objectivity of issuing and placing by local authorities of local municipal bonds and creating a municipal bank with the financial resources of local communities and municipal enterprises is proved.