Republic of Serbia Municipal Public Finance Review : Options for Efficiency Gains

Republic of Serbia Municipal Public Finance Review : Options for Efficiency Gains

Since the global financial crisis, Serbia's public debt has more than doubled. Local Governments (LGs) need to find ways to perform more efficiently, not only to contribute to national fiscal consolidation efforts, but also because they may ha...

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Bibliographic Details
Main Author:	World Bank
Format:	Other Public Sector Study
Language:	English en_US
Published:	Washington, DC 2014
Subjects:	ACCOUNTABILITY ACCOUNTING STANDARDS ACCUMULATION OF ARREARS ASSETS AUTONOMY BALANCE SHEETS BALANCED BUDGETS BENEFICIARIES BIDS BORROWING BUDGET ACCOUNTING BUDGET CONSTRAINT BUDGET EXECUTION BUDGET PROCESS BUDGETING BUSINESS PLAN BUSINESS PLANS CAPACITY BUILDING CAPITAL EXPENDITURES CAPITAL MARKETS CAPITAL PROJECTS CENTRAL REGISTRY CITIES COLLECT PAYMENTS COMMERCIAL TRANSACTIONS CONCESSIONS CONSUMER PRICE INDEX CONSUMER PROTECTION CONTINGENT LIABILITIES CORPORATE GOVERNANCE CREDITS CURRENCY DEBT PROBLEM DEBT RATIO DEBT-EQUITY DECENTRALIZATION DEFICITS DEPRECIATION ECONOMIC RECOVERY ENFORCEMENT MECHANISM ENFORCEMENT MECHANISMS ENFORCEMENT PROCEDURES EQUITY INVESTMENTS ESTATE EXPENDITURE FINANCIAL ACCOUNTS FINANCIAL CRISIS FINANCIAL INCENTIVES FINANCIAL INDICATORS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT SPECIALIST FINANCIAL PERFORMANCE FINANCIAL RESOURCES FINANCIAL RISK FINANCIAL STATEMENTS FINANCIAL SUPPORT FISCAL BURDEN FISCAL DEFICIT FISCAL POLICY FIXED ASSETS GOVERNMENT DEFICIT GOVERNMENT EXPENDITURES GOVERNMENT REGULATIONS GOVERNMENT SPENDING HARD BUDGET IMMOVABLE ASSETS INCOME INCOME STATEMENT INFLATION INFORMATION SYSTEMS INFORMATION TECHNOLOGY INSOLVENCY INSOLVENCY PROCEEDINGS INSOLVENT INSUFFICIENT FUNDS INTERGOVERNMENTAL FISCAL RELATIONS INTERGOVERNMENTAL RELATIONS INTERGOVERNMENTAL TRANSFERS INTERNAL AUDIT INVENTORIES INVENTORY INVESTING ISSUANCE JUDICIARY JURISDICTION JURISDICTIONS LABOR COSTS LABOR FORCE LABOR LAW LARGE CITIES LATE PAYMENTS LAWS LEGAL FRAMEWORK LEGAL IMPEDIMENTS LEGAL REQUIREMENTS LEGISLATION LEGISLATIVE FRAMEWORK LIQUIDITY LIQUIDITY PROBLEMS LIQUIDITY RATIOS LIQUIDITY SUPPORT LIVING STANDARDS LOCAL AUTHORITIES LOCAL BUDGETS LOCAL ENTERPRISES LOCAL FEES LOCAL FINANCES LOCAL GOVERNMENT LOCAL GOVERNMENT EMPLOYEES LOCAL GOVERNMENT SPENDING LOCAL GOVERNMENTS LOCAL INFRASTRUCTURE LOCAL LEVEL LOCAL OFFICIALS LOCAL PUBLIC SECTOR LOCAL SPENDING LOCAL TAXES LOSS-MAKING MANDATE MARKET SHARE MONETARY FUND MUNICIPAL MUNICIPAL BONDS MUNICIPAL FINANCE MUNICIPALITIES MUNICIPALITY NATIONAL BUDGET NATURAL MONOPOLIES NET PROFIT OPEN MARKETS OWNERSHIP RIGHTS PENALTIES PENALTY PENSION PENSION FUND PERSONAL INCOME PERSONAL INCOME TAX POOR FINANCIAL MANAGEMENT PRIVATE ENFORCEMENT PRIVATE INVESTORS PRIVATE SECTOR PROCUREMENT PROCEDURES PRODUCTIVITY PROPERTY RIGHTS PROVISIONS PUBLIC PUBLIC AGENCIES PUBLIC COMPANIES PUBLIC DEBT PUBLIC EMPLOYEES PUBLIC EMPLOYMENT PUBLIC ENTERPRISE PUBLIC ENTERPRISES PUBLIC FINANCE PUBLIC FINANCES PUBLIC FINANCIAL MANAGEMENT PUBLIC INSTITUTIONS PUBLIC PROCUREMENT PUBLIC PROCUREMENT LAW PUBLIC PROPERTY PUBLIC REVENUES PUBLIC SECTOR PUBLIC SECTOR ACCOUNTING PUBLIC SECTOR EMPLOYEES PUBLIC SECTOR EMPLOYMENT PUBLIC SECTOR WAGE PUBLIC SERVICE PUBLIC SERVICES PUBLIC SPENDING PUBLIC TRANSPORT PUBLIC TRANSPORT NETWORKS PUBLIC TRANSPORTATION PUBLIC UTILITIES REAL PROPERTY RECEIVABLES RECORD KEEPING REGULATORY FRAMEWORK REVENUE MANAGEMENT ROADS SALARIES SALARY SAVINGS SECURITIES SETTLEMENT SEWAGE SOLID WASTE MANAGEMENT STREETS TAX TECHNICAL ASSISTANCE TRANSFER OF OWNERSHIP TRANSFER OF PROPERTY TRANSITION ECONOMIES TRANSPARENCY URBAN DEVELOPMENT URBAN PLANNING USER CHARGES UTILITIES VALUATION WAGES WATER SUPPLY WRITTEN CONTRACTS
Online Access:	http://documents.worldbank.org/curated/en/2014/06/19878431/serbia-municipal-public-finance-review-options-efficiency-gains http://hdl.handle.net/10986/20009

Description
Summary:	Since the global financial crisis, Serbia's public debt has more than doubled. Local Governments (LGs) need to find ways to perform more efficiently, not only to contribute to national fiscal consolidation efforts, but also because they may have fewer resources available in the future. This report represents a continuation of the World Bank effort to explore LGs finances. The first phase of this report focused on options for increases in local revenues; impact of further decentralization; options for reduction of subsidies in selected sectors; and how to control the public debt. The report is organized as follows. Chapter 2 examines LG hiring and pay policies. In addition to offering recommendations on how to achieve efficiency and savings, it sheds light on employment wage policies within LG enterprises. Chapter 3 deepens the analysis of local public utility companies (PUCs), which not only have significant responsibilities for delivering local services, but also often pose a significant pressure on LG budgets. On average, financial support to PUCs accounts for a quarter of local budgets. This chapter looks at the main issues and makes recommendations for efficiency gains. Chapter 4 discusses the most important public financial management issues for LGs, asking where better management and accountability could increase value-for-money and help extract additional benefits from current and capital expenditures. It examines budget preparation, execution, and reporting issues as a basis for recommending policies to increase transparency and accountability as well as more efficient use of resources. Chapter 5 summarizes the main conclusions and policy recommendations of the report.

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