Financial side of local autonomy expresses the capacity of local communities to have their own revenue and expenditure budget, distinct from that of the state in which revenues can cover expenses incurred to meet their requirements. The analysis of financial autonomy of...

The basic component of local public finances is the local budget, defined as the document through which annual revenue and expenditure of administrative-territorial units are provided and approved. By means of local budgets, the activity of local public finances is designed and operated, local...