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Features of local budgets in the conditions of decentralization of the budget system of Ukraine

The paper identifies the features of local budgets in terms of decentralization of the budget system of Ukraine. Theoretical bases of functioning of local budgets are opened. The economic essence of the definition of «local budget» is given according to the Budget Code of Ukraine. Based on the economic essence of local budgets, a number of functions they perform are identified. Different approaches to the interpretation of the essence of the concept of “decentralization” are studied. The role of local budgets in ensuring their financial capacity in terms of financial decentralization is highlighted. The stages of decentralization in Ukraine since 2014 are demonstrated and their results are shown. The main aspects of financial decentralization to the processes of socio-economic development at the local level are outlined. The directions of development of local budgets in the conditions of financial decentralization are substantiated. It is proved that the quality of life of the population and socio-economic stability in the country largely depend on the effective operation of local governments. The normative-legal base which regulates functioning of local budgets in the conditions of decentralization is considered. An assessment of the formation and implementation of local budgets in terms of local government reform. A comprehensive analysis of revenues and expenditures of local budgets of Ukraine. The dynamics of the volume and structure of revenues and expenditures of local budgets of Ukraine for 2017–2019 is analyzed. It is proved that the main source of filling local budgets is tax revenues. It is substantiated that despite the decrease in some types of revenues, local budget revenues tend to increase. Emphasis is placed on the fact that local budget expenditures reflect the consequences of socio-economic processes in the country and directly affect the level of welfare of the population. The main changes in the development of local budgets in the period before and after the beginning of decentralization in Ukraine are identified. Typical problems of the state of local budgets in Ukraine are given. Guidelines for the development of local budgets are identified and measures are proposed that should be implemented to address this situation.