Problems of assessing the financial stability and security of municipalities

The article examines the financial stability of municipalities in conjunction with financial and budgetary security. The analytical base is provided by the information of the Federal State Statistics Service, the section Municipal Statistics, the database of the Leningrad Oblast. The article proposes methodological approaches to the assessment of financial stability and security of municipalities that can be used by authorities at all levels for monitoring studies of the sustainable and safe development of municipalities. The assessment of financial stability and financial and budgetary security will offer a more representative measure of the effectiveness of municipal management.


Introduction
The relevance of the study is due to the need to determine the financial stability and security of municipalities. At present, there are practically no works devoted to a comprehensive study of the financial stability and security of municipalities. Most existing studies consider only some aspects of the problem, for example, separate uncorrelated indicators, which do not reflect the features and priorities of the municipalities development.
The problem of assessing the financial stability and security of municipalities is still virtually unexplored, since its solution requires clarification of the methodological and theoretical provisions for evaluating these categories at the municipal level.
The country's stability and security is ensured by the stability and security of the socioeconomic systems of a lower management level, for example, regional, municipal, etc., that is, the security of systems of all levels, each of them corresponding to a certain system of security elements. Security is the main dominant idea of the sustainable development. Categories of stability and security are non-separable.
The system of indicators of financial stability and security of the municipality, which includes such indicators as debt ratio, leverage ratio, the solvency ratio, accounts receivable and accounts payable, own budget revenues per capita, fiscal capacity, budget debt-service burden, etc., corresponds to the indicators used in assessing the financial stability and security at the level of the region or the enterprise [1]. While the problem to solve is well-developed at the level of the country and the region, it remains almost unexamined at the municipal level.
The purpose of the study is to determine the financial stability and financial and budgetary security of the municipality development.

Methods
There are the following methodological approaches to determine the financial stability and safety of the development of a municipality [2-3]: 1. Use of certain indicators, for example, the growth rate of budget revenues, the ratio of the volume of borrowings to budget revenues, the share of expenses for servicing municipal debt in the total amount of budget expenditures, the proportion of unprofitable enterprises, etc.; 2. Use of integral criteria of the financial stability of the region due to the absence of wellresearched and approved methodological approaches to assessing the financial stability of the municipality development, financial stability being determined by: Next, we consider the system of financial and budgetary security indicators of municipalities, which is most typical of the municipalities of the Leningrad Oblast and differs from the existing ones. These indicators are represented in Table 1.

Results
The calculation results for the proposed methods are presented in Tables 2 and 3. The table evidences that most of the municipal districts of the Leningrad Oblast are in a pre-crisis state. Financial stability of the Lodeinopolskiy and Podporozhsky municipal districts was not determined due to lack of data. Financial stability indexes of three municipalities exceed those of the others, but they indicate a depressive state of these municipalities. There is no municipality in the oblast which would possess absolute or relative financial stability. Vyborgsky, Kingiseppsky, Boksitogorskiy and Kirovsky municipal districts of the Leningrad Oblast are in a crisis state. Depressive municipal districts of the Leningrad Oblast are characterized by high values of budget balance.
All budgets were implemented with a surplus apart from Boksitogorskiy, Kirishsky, Kirovsky, Lomonosovsky, Priozersky and Slantsevsky districts. Own revenues amount to a little more than 50% of the total revenues. This means that a significant portion of the budget is represented by the budget transfers from the upper levels of the budget system. The fiscal capacity per capita of Volosovsky district exceeds the average regional value by 5.3 thousand rubles. The ratio of accounts receivable and payable in these municipalities corresponds to the threshold value, which reflects the effective use of own and borrowed funds. The proportion of unprofitable enterprises in the total number of enterprises corresponds to the threshold value only in the Sosnovoborsky urban okrug.
Crisis districts, despite the balanced budget (Vyborgsky, Kingiseppsky districts), significantly depend on transfers from the budgets of the upper levels of the budget system. Fiscal capacity per capita of these districts is less than the average over the oblast; for example, FCm of the Vyborgsky district is 23 thousand rubles (average FCm over the oblast is 30.05). Ratio of accounts receivable and payable in the Boksitogorsky and Kingiseppsky municipal districts is much lower than the threshold value. This indicates a low efficiency of using own and borrowed financial resources. A significant proportion of unprofitable organizations is observed, for example, in the Kirovsky district it amounts to 50%. It should be noted that even though most of the security indicators exceed the established threshold, this means not a malfunction of the municipality, but a need for the intervention of regulatory and administrative authorities in order to prevent the emerging threats.

Discussion
The novelty of the study lies in the fact that in the context of the undeveloped problem of assessing the financial stability and security of municipalities, presented system of indicators for assessing financial and budgetary security, in our opinion, represents a set of linked indicators and reflects the features and priorities of the development of the municipalities of the Leningrad Oblast.
Then, using an integrated assessment of the financial stability of the region due to the lack of such techniques for municipalities, we received an illustrative practical tool for assessing the financial stability of municipalities. Assessing the financial and budgetary security of municipalities, in our opinion, requires not only developing a system of indicators for assessing this security, but also assessing the financial stability of