Ways to optimising the system of inter-budgetary regulation in the subjects of the Russian Federation (on the example of Omsk region)

The relevance of the need to improve interbudgetary regulation is beyond doubt. It plays a key role in ensuring social well-being, economic stability and sustainable development of regions and municipalities, allowing the creation of effective financial mechanisms to solve local problems and improve the quality of life of the population. Despite the fairly extensive list of works and publications devoted to interbudgetary regulation, it should be noted that the research literature has not yet developed a perfect methodology for distributing budget funds between municipalities. The main indicators on the basis of which the study was conducted are data from the Ministry of Finance of the Omsk Region. The article not only developed a new approach to distributing subsidies between municipalities, but also assessed its effectiveness. The purpose of the study is to improve the mechanism for distributing subsidies to improve the quality of interbudgetary regulation based on changing the criterion for budget equalization and assessing the effectiveness of the proposed measure. The study identified the main problems of organizing interbudgetary regulation in the regions, primarily the imperfection of the methodology for distributing subsidies to equalize the level of calculations of budget security based on determining the tax potential. Practice has shown that in a number of municipalities, non-tax revenues play a significant role, and if they are not taken into account within the framework of interbudgetary regulation, the problem of optimal equalization of all municipalities is not solved. To solve this problem, it was proposed to replace the municipality’s tax potential index with the territory’s revenue potential index when conducting calculations. The analysis showed that in this case, the level of income of municipalities is equalized more evenly. The implementation of these measures will improve the efficiency of the interbudgetary regulation system carried out by the Ministry of Finance of the Omsk Region in relation to municipalities, and this experience can be borrowed by other regions to improve the system of budget federalism.