The role of local budgets in social sphere financing: Theoretical and practical aspects

The article examines definitions of category «local budgets», considers a comprehensive systematic approach to the concept of «local budgets» from standpoint of finance, legal, political, economic theory, organization and management. It is substantiated that the concept of «local budgets» is a complex multifaceted category. The main tasks of social policy are outlined. It is noted that the current budget policy retains focus on a significant level of spending on the social sphere. At the same time, in conditions of limited financial resources the question of development of region becomes actual. The main problems of financial support of the social sphere are determined. Development the social sphere requires significant and long-term state funding. Growth of social spending causes a reduction in resources aimed at economic development. However, development of social infrastructure (education, health care, informatization, transport services, utilities etc.) determines the standard of living of population and direction of development the region. It is noted that currently the main problems in budget sphere are: ensuring the balance of budgets; improving the principles of regulation budgetary resources; strengthening system of financial control over the targeted, economic and efficient use of budget funds; development of methodological approaches, methods and techniques of formation and distribution of budget funds; developing approaches to budget execution in full, etc. Possibilities for improving the level of financial support of social sphere by local budgets are substantiated

local budgets; expenditure; financial support; social sphere