Abstract
The Russian and Czech experience of forming local(municipal) finances and aspects of their development, the problems of financial independce of units of territorial self-government, their legal status are studied. The experience of using public finances in the financial activities of local governments is analyzed.
The issues of debt obligations of municipalites and on ensuring budgatery discipline in the framwork of the development of the institution of budgatery responsibility are considered. Using of the method of comparative legal analysis and monitoring, the authors compare the existing approaches to municipal taxes,obligations, financial responbility and local finance in the scientic literature and municipal practice of Russia and Czech Republic.
The experience of providing budget subsidies in the Czech Republic is higlighed.