Financial management is very important for good governance, because the consequences of failure would imply political responsibility, but also an actual non-fulfillment of the needs of the citizen.
No matter how good governance in other policies is, failure in financial management implies a failure of the municipality.
This section focuses on financial resources and financial management, mainly from the assembly member's point of view, and highlights how the assembly can meet its accountability requirements.
Sources of own municipal revenues are as follows:
Real estate tax;
Tax on business practice license;
Permit fees for professional services;
Tax on motor vehicles;
Municipal administrative fees;
Permit fees on construction and demolition of buildings and other structures;
Fees on issuing official certificates and documents;
The Municipal Assembly is in charge of the approval and oversight of the municipal budget, while the mayor shall oversee the administration of municipal finances and implementation of decisions approved by the assembly.
The Assembly needs to have enough information to be convinced that the finances are in order, and that the budget and financial planning objectives are...
The monitoring and oversight of the municipal budget has three components. The first component is the municipal assembly, which, as a legislative body, shall oversee work of the executive in this case also the way budget is executed by the executive. The second component is oversight through internal audit and the third component through external audits made by the Office...