LOCAL FINANCE Local finance is a system

LOCAL FINANCE

Local finance is a system of economic relations, in which distributed and redistributed national income for economic and social development area

Effective functioning of local government is associated with performing the assigned and delegated functions such as: - ensuring the public interest and needs at the local level, - promoting social and economic development areas.

Functions of Local Finance Distribution and redistribution of GDP Formation Funding of Economic of fiscal public growth policy at the services areas local level

In Ukraine forms of local finance: -finance of local community (public finance), -finance of Autonomous Republic of Crimea, -regional finance, -finance cities of Kyiv and Sebastopol -city finances, -finance of district, region, -village finances

incomes of local finance (budgets) national taxes local taxes, fees revenues from the privatization of property grants and subsidy received from the budgets

The main subject of local finance in Ukraine is the local community and local government. In other countries the main subjects: - municipalities, - communes, -regions, departments, provinces, -districts -other administrative-territorial units.

The objects of local finance are the financial resources used by local authorities to carry out the functions and tasks

The main financial funds of local government: - the local budgets, reserve, currency and offbudget trust funds, - funds of cash resources, utilities - obtaining bank loans, - issuing of municipal loans