The dissertation is devoted to the complex and thorough research of modernization of the road infrastructure budgeting system of Ukraine. Approaches to the doctrinal understanding of the economic nature of budgeting are considered. Based on the systematization of various scientific positions, the author’s definition of the notion “budgeting” at the macro level is described as part of the system of financial management of public finances, associated with the process of developing and analyzing budgets, individual estimates and government programs, which includes distribution and use of financial resources and contributes to the effectiveness of public administration through the redistribution of powers in the implementation of specific programs and achieving coherence between the budgets of all levels; “budgeting” at the meso level is described as a system of coordinated management actions, which ensures the efficient allocation of financial resources by sectors and programs, helps limiting unreasonable budget expenditures and increasing the level of control in accordance with the achieved results; “budgeting” at the micro level is envisaged as a process of planning, accounting and control of financial resources and results of the organization/enterprise, which allows comparing revenues and all expenses incurred for the future as a whole and for individual periods, and serves to increase financial and economic efficiency and financial stability.
It is established that budgeting is an effective system according to which the process of drawing up, adjusting, monitoring and evaluating the implementation of budgets takes place under the implementation of the overall development goals of both the state and businesses. A budgeting model in the financial management system is developed. A universal dynamic budgeting system is constructed, which is based on: planning and preventive control, implementation and current control, accounting and reporting (plan/fact analysis), and management decisions.
According to the results of the study of the evolution of the budgeting system, the main principles of budgeting are indicated: the principle of completeness; the principle of publicity; the principle of transparency; the principle of flexibility; the principle of economy; the principle of coordination of goals; priority principle and others. The main functions of budgeting are defined: planning, coordination, control, incentives and regulation, analysis and evaluation. The key methods of budgeting are revealed: incremental budgeting, program budgeting, program-target budgeting, budgeting with zero base, budgeting is result-oriented and their advantages and disadvantages are identified.
The experience of European countries is considered, which shows that the development of road infrastructure determines the intensity of economic ties and is one of the most important conditions for economic development. It is established that priority road infrastructure development projects are financed by the state or with the participation of the state, including public-private partnership projects, so the high quality of road construction in developed countries is supported by the introduction of constantly developed new technologies and technical solutions.
According to the results of reviewing the organizational and economic characteristics of road infrastructure in Ukraine, it is proved that road infrastructure, along with other infrastructure sectors is aimed at improving people’s quality of life and is a tool for economic, social and foreign policy goals, and road infrastructure budgeting is one of the state importance investments.
The analysis of the road infrastructure budgeting system allowed determining that budgeting of road infrastructure of Ukraine is a process of planning, implementation and control on the budget (budget programs), which provides the relationship of public expenditure reconstruction, repair and maintenance of roads of Ukraine and fulfillment of debt obligations on borrowings developed on the basis of strategic goals, taking into account the priorities of state policy, social significance of the expected and final results of the use of budget funds.
