With the support of U-LEAD experts, together with the Institute of Budget and Socio-Economic Research (IBSED), participants from 40 municipalities developed unique budget stabilisation plans to address challenges and balance their financial system on the ground in the conditions of war.
“Everyone had a chance to conduct a qualitative assessment of the budget implementation and develop their own Budget Stabilisation Plan and recommendations for restoring the municipality’s financial and economic potential. In addition, our experts provided support regarding financial management in the crisis conditions of war,” said Inna Sviatna, Adviser on Local Finances and Management at the Regional Office of U-LEAD in the Vinnytsia oblast.
Experts ended up developing a step-by-step algorithm for municipalities, namely:
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Development (review for the purpose of updating) and approval of municipal development strategies based on a qualitative SWOT analysis and a system of relevant indicators;
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Analysis of budget indicators, determination of negative impacts;
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Assessment of available resources, analysis of their use, identification of reserves and unallocated resources;
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Assessment of compliance of expenditures with strategic targets and achieved results;
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Management decision-making and development of a number of measures to attract resources and optimise expenses;
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Introduction of a system for monitoring the results of budget implementation;
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Ensuring transparency and publicity of local budgets, implementation of mechanisms for public participation in the budget process;
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Widespread introduction of internal control and audit;
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Development of a unified Budget Stabilisation Methodology and its further streamlining.
“Our expectations are exclusively in the area of growth and renewal. I believe this to be an achievable goal. After all, we are a new and young structure among the municipality’s local self-government bodies. With the support of the U-LEAD Programme, we will have little trouble in finding new formats and approaches,” said Halyna Poiedynok, Head of the Finance Department of the Lypovets City Council in the Vinnytsia oblast.