Characteristic Features of Finance in “Science Cities”

Abstract

This work is dedicated to the research of opportunities and disadvantages of financial self-sufficiency of science cities local government and determination of the ways of local budget growth. By the aid of comparative and financial analyses some external and internal factors have been found. These factors have the influence on income formation of science city local budget on the example of Biysk, Altai Region. The work led to the conclusion that obtaining of science cities financial basis is taking place according to the general Russian standards without regard to their specific focus. Federal transfers to the science cities budgets are insignificant and inefficient. The main directions towards tax and budget self-sufficiency growth have been determined. The Federal Government jointly with regional authorities should establish new development strategies of science cities financing both in research and production economic base of town and also in urban infrastructure. Science cities local government should regularly reveal financial reserves and raise budgetary and tax discipline. Public organizations can play a significant role in science cities financial management.