Designing fiscal tools to achieve social welfare at the level of the territorial community

Анотація

The article is devoted to a comprehensive study of the process of constructing a practical fiscal toolbox to achieve sustainable social welfare at the level of a territorial community. The study considers the fiscal toolbox not only as a set of budget revenues and expenditures, but also as a holistic system of interconnected mechanisms, including tax policy, program-targeted planning, municipal borrowing, a system of financial assistance, and mechanisms of public control. The article analyzes the current challenges that territorial communities face in formulating their fiscal policy: limited own revenues, dependence on transfers, inefficient management of financial resources, and the lack of long-term strategic planning. To overcome these, practical recommendations have been developed on optimizing the revenue base (including attracting investments, developing local businesses), increasing the efficiency of the expenditure part of the budget (through the introduction of modern budgeting methods, assessing the effectiveness of programs), as well as for mechanisms for involving citizens in the budget process. Attention is paid to the role of the budget mechanism in addressing specific socio-economic problems of the community: improving the condition of housing and communal services, developing infrastructure, supporting socially vulnerable segments of the population, ensuring quality education and medical care, and stimulating the development of local self-government. The proposed approach to constructing fiscal tools is based on the principles of transparency, accountability, efficiency, and justice, enabling territorial communities to achieve real social welfare, increase citizen involvement in decision-making, and ensure sustainable development in the long term. The study’s results may be helpful to local governments, financial authorities, scientists, and public activists involved in the development of territorial communities. Keywords: fiscal tools, territorial community, public welfare, budget policy, local self-government, decentralization, budget efficiency, socio-economic development, sustainable development, regional development.

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