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The indebtedness of small municipalities
PRENNEROVÁ, Lucie
At present, the indebtedness of territorial self-governments concerns mainly small municipalities. Thanks to the right of independence and sovereignty, they can manage independently their budgets and real property. This fact has led municipalities to develop their business activities. In the Czech Republic, 3 235 municipalities are in debt, which is more than half of the total. The debts consist mainly of bank credits, but also revenues from municipal bonds issued and repayable financial assistance and credits from the state budget and state funds. These income groups are called returnable income. This thesis explores the importance of using returnable income for financing the development of municipalities. The thesis aims to recommend how municipalities should treat the money. It also lists the risks of high indebtedness are and what the indebtedness rules and limits are in the Czech Republic. The aim of the thesis is evaluate the conditions, development and potential risks of the indebtedness of small municipalities.
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Indebtedness of statutory cities
KUKRÁLOVÁ, Lucie
The thesis deals with the indebtedness of statutory cities in the Czech Republic and its development. It contains the characteristics of the types of repayable financial support, defines the terms related to the regulation of indebtedness, and describes the risks that arise from high indebtedness. The statutory cities and their management are also described. A large part of the work is also devoted to the description of legislative rules, their development, and their effectiveness. The practical part deals with defining the debt of statutory cities, determining its size, structure, and dynamics. It also compares the indebtedness of selected statutory cities according to debt instruments on the basis of their solvency and compliance with the rules of budgetary responsibility. Based on the results, it can be summarized that the share of statutory cities in public debt has been less than 5% in recent years and the share of municipalities has also remained below 10%. In general, we can say that the debt of municipalities, as well as statutory cities, has been developing favorably in recent years, is declining, and still appears to be negligible compared to the total public debt. The share of public debt in GDP is also kept below 60%, and the Czech Republic also complies with the Maastricht criterion. The statutory cities of Prague, Liberec and Olomouc appear to be the most problematic. Olomouc and Liberec have even exceeded the 60% threshold since the introduction of the budgetary responsibility rule in 2017.
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