Ways to Increase Revenues and Optimize Expenditures of Local Budgets on the Example of the Kaluga Region

The master's dissertation is devoted to the research of ways to increase revenues and optimize expenditures of local budgets in the Kaluga region. The purpose of the research was the development of recommendations, aimed at achieving of budgetary balance in the municipalities of the region. In the course of the research, the author examined theoretical and legal basis of formation and execution of local budgets in the Russian Federation, has studied regional legislation in the budgetary sphere, carried out a comparative analysis of the composition, structure and dynamics of the parameters of local budgets in the Kaluga region, carried out an integrated assessment of the financial condition of municipalities. Based on the results of the analysis, developed an integrated system of measures, aimed at mobilizing of available reserves of revenues sources and optimizing the expenditures of local budgets in the region. In particular, proposed an alternative system of distribution of tax revenues between the budget of the Kaluga region and local budgets, calculated the economic effect of the proposed redistribution. Based on the study and systematization of the experience of Russian regions, made a number of practical recommendations, aimed at reducing the amount of tax arrears and expansion of the taxable base by reducing the number of unregistered property items and deducing hidden wages from the shadow economy. In addition, in dissertation proposed mechanisms for increasing the effectiveness of budget expenditures, including through implementation of projects of initiative budgeting in the Kaluga region.