Toolkit for forming the finances of territorial communities for their strategic development
Ключові слова:
Toolkit, finances, territorial communities, strategic developmentКороткий опис
The formation and utilization of finances of territorial communities (TCs) are determined by a number of significant factors. In particular, finances of a territorial community cover the territory of several settlements; there is a lack of experience in managing territorial community finances; direct interbudgetary relations between the territorial community budget and the state budget are being introduced; and considerable financial resources are concentrated within the territorial community budget.
The provision of financial resources for TCs may be ensured through a set of measures, mechanisms, and instruments, including: the use of a financial strategy; changes in leadership style and behavioral patterns of managers, as well as in corporate culture; the application of crowd-technologies as an innovative element in the structure of TCs; attraction of investment resources through joint investment; transformation of the content of work within TC units and employees, including financial organization; allocation of strategic financial planning as a separate function; restructuring of employee motivation systems, pricing, and evaluation indicators; and the development of product policy, marketing strategy, competition strategy, among others.
Among the examined academic literature, particular attention is given to works devoted to the establishment and reform of territorial communities by such foreign scholars as T. Würtenberger, R. Gravert, and F. Kniemeyer. The issues of strategic development of economic entities, including territorial communities, are analyzed in the works of both foreign and domestic researchers: I. Alekseyev, B. Andrushkiv, M. Bondarchuk, V. Brych, R. Zheliznyak, O. Kuzmin, O. Kraynyk, M. Melnyk, O. Chervinska, N. Chukhrai, O. Karyi, V. Rysin, Z. Shershnov, R. Shchur, N. Khrushch, and N. Hlynskyi[1;40].
The analysis of internal financial challenges and peculiarities of financial resource planning in territorial communities is presented in the works of O. Kyrylenko, V. Kravchenko, A. Krysovatyi, M. Krupka, H. Markovych, H. Monastyrskyi, V. Oparin, N. Tataryn, A. Cherep, and others. The study of international experience in the construction and functioning of territorial community finances, based on examples of numerous countries, lies within the scope of research of well-known scholars such as O. Boryslavska, Yu. Hanushchak, I. Storonyanska, and A. Tkachuk[56;57].
However, the Ukrainian academic literature still lacks comprehensive studies specifically devoted to the finances of territorial communities. The definition of the term “territorial community” requires further clarification, as scholars’ opinions diverge. The conceptual model of forming a strategy for the financial development of territorial communities and the typology of funding sources for their activities need substantial refinement. The mechanism for developing a strategy of organizational and economic development management for territorial communities requires elaboration. The system of performance evaluation indicators of TCs remains imperfect. The necessity to deepen academic research in this area, taking into account the financial condition of the state, demographic indicators, and the population’s standard of living, has determined both the choice and the relevance of the present study.
The transformation of local self-government and the decentralization of public finances have become key determinants of sustainable regional development in the modern world. Territorial communities, as basic units of local governance, are acquiring greater financial autonomy, which necessitates the formation of effective instruments for the management, distribution, and use of financial resources. In this context, the study of the financial system of territorial communities, their organizational and economic development, and the strategic approaches to strengthening their financial capacity represents a matter of both theoretical and practical importance.
The relevance of this monograph is determined by the growing role of territorial communities in ensuring social and economic stability, improving the quality of public services, and enhancing competitiveness at the regional level. Despite the positive dynamics of financial decentralization, significant challenges remain, including the insufficient efficiency of budget planning, the lack of diversified funding sources, and the imperfect system of performance evaluation[52,c.110]. Addressing these issues requires the development of modern tools and mechanisms of financial strategy, as well as the application of innovative approaches to financial governance.
The purpose of this monograph is to provide a comprehensive study of the processes of formation, management, and strategic development of territorial community finances. Special attention is devoted to the construction of organizational and economic strategies, the elaboration of methodological tools for financial development, and the assessment of the effectiveness of strategic initiatives[62]. By combining theoretical foundations with practical recommendations, the monograph aims to contribute to the advancement of financial management at the community level.
The scientific novelty of the work lies in the conceptualization of the strategic model of financial development of territorial communities, the systematization of tools for its implementation, and the improvement of evaluation indicators that reflect the efficiency of financial decision-making. The practical significance is expressed in the possibility of applying the proposed methods in the activities of local self-government bodies, thereby strengthening the financial sustainability and investment attractiveness of territorial communities.
The structure of the monograph reflects the logic of the research. The first section outlines the theoretical and methodological foundations of the financial system of territorial communities. The second section analyzes current trends, challenges, and foreign experience in financial management at the community level. The third section presents the tools for the strategic development of territorial community finances, including the construction of organizational and economic strategies, the formation of financial instruments, and the evaluation of strategic effectiveness.
Розділи
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CHAPTER 1 THEORETICAL AND METHODOLOGICAL FOUNDATIONS OF TERRITORIAL COMMUNITY FINANCES
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CHAPTER 2 ANALYSIS OF THE FINANCIAL SYSTEM OF TERRITORIAL COMMUNITIES
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CHAPTER 3 TOOLS FOR THE STRATEGIC DEVELOPMENT OF TERRITORIAL COMMUNITY FINANCES
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