Sugarova I.V.North Ossetian State University, Vladikavkaz, Republic of North Ossetia-Alania, Russian Federation sugaririna@yandex.ru
Importance The paper investigates the issues of subsidies to regional budgets. The relevance of this study is the fact that the financial condition of the budget is the basic condition that ensures the performance of assigned functions by regional authorities. However, the budgetary practice proves that the implementation of this provision implies the use of subsidized method of regulation in order to align the fiscal capacity. Today, the legislation has neither a definition of the concept of subsidies to the budget, nor the identified criteria for assigning respective budgets to the category of subsidized ones. Under these conditions, the importance of the issue is growing. Objectives Despite on-going scientific and practical interest in the problems of subsidized regions, a clear and universally accepted definition is not available. The objective of the study was to offer a unique standpoint based on the analysis of views of various authors on this concept. Methods In this paper, I used econometric techniques to analyze the key indicators of a regional consolidated budget, including revenues (gross of individual budget's revenues), expenses, balance, and level of subsidization. I identified how they relate to the need to apply a subsidized tool for regulation. Results The study results demonstrate that the budget formation should be based on two main factors: the continuity of the economic potential of a region and its components on the one hand, and the existing system of intergovernmental relations on the other hand. Conclusions and Relevance The findings show that dependence of regions on the federal center within the framework of subsidized budgets does not create conditions to encourage territories to build their own economic capacity. Therefore, it is necessary to have an appropriate mechanism for a regional budget formation that would push regional budgets to increase their revenue potential.
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