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STRUCTURAL STRUCTURE OF LOCAL BUDGET EXPENSES AND THEIR
MANAGEMENT.
Absamatov Anvar Ergashovich
Termez Economic Service University Associate Professor
,
Department of Economics.
Ismoilov Sharofiddin Ismoilovich
Termez Economic Service University 2nd
year undergraduate student in economics
Abstract:
As we all know, special attention is paid to local budget issues in our country. Large-
scale work is being carried out. This article also provides information on the structural structure
of local budget expenditures and their management.
Keywords:
Republic, economy, instrument, budget, territory, property, funds, state, person,
social, village, water, gas, education, politics, city, psychology, society, information, network,
housing, youth.
First of all, let's dwell on the concept of a local budget. A local budget is a set of financial
resources formed and spent at the level of a certain territory. The local budget is a component of
the state budget and is managed by local authorities. The local budget has the following main
tasks. These are:
1. Ensuring regional socio-economic development.
2. Providing social services to the population.
3. Developing and maintaining local infrastructure.
4. Implementing state policy in the localities.
The local budget has several areas. They are manifested in some areas. For example, in the
social sphere. The education system, the healthcare system. In the utility sector, it is embodied in
the areas of electricity, drinking water, and gas supply. The main areas of the local budget:
1. Social sphere expenses;
2. Utility and infrastructure expenses;
3. Local government expenses;
4. Security and law and order;
5. Environmental protection;
6. Agriculture and economic development:
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In our republic, a number of works have been carried out in recent years to develop, improve
and increase financial independence of the local budget system. First of all, the financial
independence of local budgets has been increased. The revenue base of local budgets has been
expanded. Some taxes, for example, income tax from individuals, will remain in the local budget.
District and city budgets have gained the right to independently manage their resources. In order
to ensure openness and transparency, information on the state budget and local budgets will be
published in open sources. For example, through openbudget.uz. The "Citizens' Budget" system
has been introduced. The population can make their own proposals on how budget funds will be
spent. The role of local councils has been strengthened. They have gained the authority to
approve, monitor and analyze the budget.The obligation of governors to report on how they use
the budget has been introduced.Systematic work has been carried out to ensure a fair distribution
of tax revenues in the regions. To increase the revenues of local budgets, the calculation of land
and property taxes was automated. Each region began to form a budget based on its economic
capabilities. As a result of this work, competition between regions increased. Local budget
expenditure management is primarily a set of processes for planning, distributing, targeted
spending and controlling funds. This process is carried out on the basis of clear procedures and
rules established by law.
1. Planning (budget preparation)
Every year, local authorities draw up a budget expenditure plan for the next year. Needs are
analyzed in such areas as education, healthcare, transport, utilities, and social protection. Based
on this information, financial authorities develop a spending plan.
2. Approval
The drawn up local budget draft is reviewed and approved by the local Kengash. If necessary,
amendments may be made to the budget draft.
3. Allocation of budget funds
Finance departments allocate the specified funds to each organization, institution and project
based on the approved budget. The distribution takes into account the principles of priority,
efficiency and expediency.
4. Execution
Expenditures are made in accordance with the goals set out in the budget. Organizations are
obliged to spend financial resources in the specified areas and within the specified deadlines.
5. Accounting and financial reporting
All expenses are recorded in accounting. Financial authorities and interested organizations
regularly submit reports.
6. Control and audit
Inspections are carried out by state financial control bodies. The local council, the prosecutor's
office and the State Audit Service monitor the legality and efficiency of expenses.
7. Public participation and transparency
The population is informed about the budget process (public hearings for the budget, budget
transparency portals). The media and NGOs can participate in budget execution.
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The local budget is one of the most priority areas of the state financial system. It plays an
important role in socio-economic development, well-being of the population, a good lifestyle and
meeting the needs of the public at the local level. Management of local budget expenditures is a
management system that ensures the targeted, rational and effective use of these funds. The
process of managing local budget expenditures consists of several important stages: planning,
approval, distribution, execution, accounting and control. At each stage, clear rules, procedures
and responsibilities are established, the implementation of which increases trust and
responsibility before the government and society. In particular, planning and the correct
allocation of funds to priority areas are very important today for the needs of the population and
the development of social sectors. A large part of local budget expenditures is allocated to areas
such as education, healthcare, utilities, social protection. The level of financing in these areas is
directly related to the quality of life of the population. Therefore, rational management of these
expenditures ensures not only economic efficiency, but also social stability. In addition,
transparency and public oversight of budget expenditures are becoming increasingly important in
modern governance systems. In short, local budget expenditure management is not a simple
allocation of funds, but a complex management system that requires a responsible and strategic
approach. Improving this process can contribute to socio-economic development at the local
level, increase the standard of living of citizens, and strengthen trust in the state. The
management of local budget funds should be effective and transparent. These funds are directed
to meet local needs, infrastructure, education, healthcare, etc. Also, in the process of budget
management, the stability of revenue sources, rational distribution of expenses, and the effective
functioning of the control system are important. Effective management of local budget funds
increases the well-being of the population and contributes to economic development.
List of used literature:
1. Abduganiev, R. (2018). Local budget management: Theoretical foundations and practical
solutions. Tashkent: Publishing house of the Institute of Economics and Public Administration of
Uzbekistan.
2. State and Society Management (2020). Modern methods of forming and managing local
budgets. Tashkent: Publishing house of the National Economy of Uzbekistan.
3. Ismoilov, I. (2019). Local budget formation and management: Theory and practice. Tashkent:
Publishing house of Ilm Ziyo.
4. Qodirov, A. (2021). Local governance and budget: New directions. Tashkent: Publishing
house of Innovative Economics and Social Development.
5. World Bank. (2017). Local Government Finance in Uzbekistan. Washington D.C: World Bank
Group.
6. OECD. (2020). Public Governance Reviews: Uzbekistan - Managing Local Government
Finances for Better Outcomes. OECD Publishing.
7. Khudoyberganov, Z. (2017). Local budget system and its management: Problems and
solutions. Tashkent: State Statistics Committee of Uzbekistan.
8. Gulomova, M. (2022). Local budget and its impact on economic stability. Tashkent:
International Economic Institute.
9. MODELS OF VALUATION OF THE MARKET VALUE OF SHARES OF JOINT-STOCK
COMPANIES
AND
THEIR
INDIVIDUAL
ASPECTS.
Khurramov
Eshmamat
Khudoyberdievich
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10. METHOD OF VALUATION OF THE VALUE OF ORDINARY SHARES OF JOINT-
STOCK COMPANIES. Khurramov Eshmamat Khudoyberdievich
11. INDIVIDUAL FEATURES OF VALUATION OF THE VALUE OF BONDS OF JOINT-
STOCK COMPANIES. Khurramov Eshmamat Khudoyberdievich
