Publication at Faculty of Law |
2019
Abstract
Public incomes are the most important source of funding needs of the local public sector for municipalities. The main source is non-repayable incomes which represent financial relationships of municipal budgeting in accordance with the principle of non-repayability, compulsoriness, and non-equivalency.
However, apart from these non-repayable incomes, municipalities can gain and use repayable incomes as well. There are municipal bonds which have a special position amongst repayable incomes and which bring municipalities funds, yet they have some aspects that may be risky.
Therefore, these sources in public budgets are rather used by larger municipalities.