Initiative budgeting as a mechanism for raising the quality of life of the population

The sufficiency of social infrastructure facilities and their effective functioning in a particular area is one of the conditions for improving the quality of life of the population. The financial insufficiency of regional and local budgets actualizes the search for new tools to raise funds for the development of territorial infrastructure that ensures creation of decent living conditions for the population. One of these tools is mechanism of initiative budgeting. The results of the study showed a contradiction between the recognition of the undoubted advantages of this mechanism (solving acute territorial problems, leverage on the authorities, creating a platform for dialogue) in the assessments of the population and the lack of readiness of residents to be included in new financial initiatives. The key limitations to the implementation of initiative budgeting projects are the following: lack of information support, low level of awareness of residents about the problems of territorial development, distancing from local self-government practices. The results of the study showed that the majority of respondents are ready to get involved in solving the socio-economic problems of the territory if they affect the personal interests of individuals. Under the current conditions, it seems necessary to improve information and communication activities aimed at popularizing the mechanism of initiative budgeting, building social cohesion of local communities, developing the territorial identity of citizens, integrating the efforts of the authorities and the population in solving socially significant problems of the territory.