The decomposition of the ‘quality’ category into properties in the context of regional financial management

Since 2011, in order to create incentives to improve the quality of regional financial management in the subjects of the Federation, the Ministry of Finance of the Russian Federation has been monitoring and evaluating the quality of regional financial management. However, there is still no clear definition of what is meant by the quality of regional financial management and what properties it is characterized by; there is no link between the financial management quality indicators used in its assessment and their direct impact on the quality of regional financial management. In this article, the decomposition of the «quality» category into properties is carried out by linking it with the stages of the budget process and functional elements of financial management. Additionally, aspects of regional financial management were identified in the context of the stages of the budget process, the state of which characterizes the properties of their quality. As a result of the analysis, a new theoretical approach to the quality of regional financial management has been developed, the practical implementation of which can act as an addition to the current methodology for assessing the quality of regional financial management in order to clarify the characteristics of «quality» and specify the properties inherent in the financial management process in the subjects of the Russian Federation, which ultimately will allow to form the most complete understanding of the state of financial management processes in the regions.