Abstract
The subject of the research is the local self-government, with a good reason, as it has much more contact with the daily life of citizens than the central government and it is mainly directly responsible for the state of healthcare, building maintenance, education, cleanliness and the environment, as well as for ensuring the functioning of basic systems, such as water and sewage. The third chapter is devoted to good public finance management. It is extremely important to recall the fact that the budget must integrate with other areas of financial operations, even if that business is carried out by a state body, regardless of the Treasury or the Ministry of Finance. The public sector debt has become a "deceptive factor" that achieves budget stability. Internal control measures should be introduced into each organization and incorporated into its procedures. The new concept of the budget system in public finances of the Republic of Serbia determines the efficiency of public expenditure management with the introduction of a multi-level control system. In addition to establishing a budget inspection and audit, one of the multi-level controls is the system of introducing internal control.
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