PROBLEMS OF BUDGET SUFFICIENCY OF NOVOSIBIRSK CITY

  • Sumskaya T. V. PHD in Economics, Associated Professor, Institute of Economics and Industrial Engineering of Siberian Branch of the Russian Academy of Sciences (IEIE of SB RAS)
Keywords: tax and non-tax revenues of the budget, grants, Novosibirsk, budget coefficients, budget expenditures of Novosibirsk City, the structure of budget revenues and expenditures

Abstract

The paper considers the key fiscal indicators for Novosibirsk City and offers the technique of assessing a city’s budget and the intergovernmental fiscal flows. Having applied this technique, the author has calculated these indicators over 2006-2013 and has analyzed the balance between fiscal revenues and expenditures (the balance between local revenues and regional grants, and its dependence on the latter). In addition, the possibility of the use of budget resources to identify the main areas of spending in Novosibirsk City was analyzed; the stability of the budget of Novosibirsk City was investigated through applying the budgetary coefficients technique. Author shows that one of the major challenges of creating an effective local self-government is its adequate financial security. Solving this problem requires to strengthen the revenue base of local budgets. However, in recent years in Russian Federation the practice of growing centralization of revenues of territorial budgets has increased, and it is accompanied by an increase in the share of grants in municipal budgets. In particular, the analysis of the structure budget revenues of the largest municipality in Russia - Novosibirsk City shows a decline in the level of independence as steadily growing share of grants and we can expect further reductions in tax revenues.

References

Financial Aspects of Environmental Regulation // Local Production Systems and Regional Economic Development : [collection of papers] / ed. by A.S. Novoselov, V.E. Seliverstov ; Russian academy of sciences, Siberian branch, Institute of economics and industrial engineering, University of national and world economy, Ternopil national economic university, University of Lodz. - Novosibirsk ; Sofia ; Ternopil ; Lodz : IEIE SB RAS, 2014. - P. 207-215

World Science

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Published
2016-04-30
Citations
How to Cite
Sumskaya T. V. (2016). PROBLEMS OF BUDGET SUFFICIENCY OF NOVOSIBIRSK CITY. World Science, 3(4(8), 18-23. Retrieved from https://rsglobal.pl/index.php/ws/article/view/1153
Issue
Vol 3 No 4(8) (2016): World Science
Section
Economy

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