Sustainable Development of Territorial Budgets

In this article, the authors consider the issues of sustainable development of territorial budgets (state and local). Special emphasis is placed on changing the role of municipal finance in modern conditions: they become not only the economic basis of local self-government, but also the political exchange «state-population». The authors conclude that the strategy for the development of local government and municipal finance are issues of the federal level of government. Further, the presented analysis of the development of territorial budgets and the proposed approaches to increase their sustainability are of practical importance and can be recommended for implementation in relevant legal acts.