MODERN TOOLS FOR FORMING THE OPTIMAL STRUCTURE OF REVENUES OF TERRITORIAL COMMUNITIES' BUDGETS

The influence of budgetary risks on the formation of revenues of budgets of territorial communities is investigated and a methodical approach to estimating the structure of revenues of budgets of territorial communities in the conditions of financial decentrali-zation is developed. It is noted that today the introduction of the latest methods for optimizing the revenues of the budgets of territorial communities with permanent con-trol over the level of budgetary risks becomes especially important. Mathematical fore-casting of the probability of budget risks and its empirical measurement requires special attention. The main approaches of domestic and foreign scientists to forecasting the probability of budget risks with the help of economic and mathematical tools are con-sidered. Its practical use, on the one hand, will ensure their permanent control, and on the other -will allow optimization of the revenues of the budgets of territorial commu-nities. It is established that the existing methods are difficult to implement in domestic practice due to their significant mathematical calculation. Calculations were made using the postulates of portfolio theory, in particular the portfolio approach of 3. Hicks, which allowed to form a rational structure of revenues of budgets of territorial communities in terms of general and special funds, as well as to identify ways to minimize budgetary risks to ensure optimal revenue structure without interbudgetary transfers in conditions of permanent crisis phenomena. This will allow local governments of territorial commu-nities to increase the performance of their budgets. The latest tools of financial decision -making using 3. Hicks' portfolio approach to the formation of the optimal structure of budget revenues of territorial communities without intergovernmental transfers, taking into account the level of budgetary risk, were obtained by applying the tools of economic and mathematical modeling. It is concluded that the latest tools for the formation of the optimal structure of budget revenues of territorial communities with permanent fore-casting of the maximum possible level of their growth under the control of budget risks allow the development of ways to minimize, forming many scenarios for the optimal structure of future budget revenues and budget risk. It is established that the proposed toolkit allows to generate alternative financial solutions for local governments and as-sess the results and consequences of their possible adoption in determining strategic guidelines for the development of local community finances. It is proposed to further use the developed scientific and methodological approach to optimize the revenue struc-ture of budgets of territorial communities in the context of various budgetary risks, which, of course, will allow local governments to make effective financial decisions in developing programs of socio-economic development of territorial communities.