Peculiarities Of Formation Of Local Budgets Under The Conditions Of Untimely Decision-Making About Local Budgets

The current Budget Code was analyzed regarding the delayed adoption of the Law on the State Budget of Ukraine. The nature of the consequences caused by the delayed adoption of the budget were studied. The international experience of delayed adoption of the budget and the activities prescribed by the Constitutions of these counries for such situations were examined. A theoretical examination of the preparation and approval of local budgets was made. On this basis significant deficiencies that adversely affect the timely, quality and effective drafting of the budget and its approval were revealed. Special attention is paid to the concept of temporary budget as the main instrument of budget financing in the absence of an approved budget at the year's beginning. The author's own theoretical component of the concept "temporary budget" was described. In order to improve the Budget Code and prevent legal conflicts, the appropriate amendments to the Budgetary Code were proposed and justified. A transition to the European practices of budget planning was offered as a method of an early adoption of the budget.