Revenues and expenditures of local budgets in conditions of decentralization of power: legal aspect.

The issue of the efficiency of forming local budgets occupies a central place inthe process of analyzing the social-economic development of territories. Thepurpose of the academic paper is to highlight the theoretical features of thelegal component in the process of forming local budgets in the conditions ofdecentralization of power, as well as to clarify the features of the practical aspects of the issue outlined. In the course of the research, analytical andbibliographic methods were used to study the scientific literature on theformation of local budgets. The research authors also conducted aquestionnaire in online mode to practically clarify the most important issuesrelated to managing the budget process under the condition of decentralizationof power. Based on the research results, the primary and most significanttheoretical aspects of the issue of forming the revenue and expenditure part oflocal budgets in the process of decentralization of power were established. Atthe same time, the standpoints of scientists and heads of departments of localself-government bodies regarding key aspects of this issue were studied.Keywords: Territorial Development, Legislative Consolidation of Local SelfGovernment Functions, Decentralization of Budget Funds Management,Financial Management of Local Self-Government, Optimization of theBudgetary System.