The budget is the basis of local government ϐinancial management. A local unit executes its statutory goals according to the budget. The appropriate preparation of a budget, accounting for the social and economic needs, is the fundamental responsibility of a voyt (an elected county chair). The basic principles and terms of preparation and enactment of a budget as well as its speciϐicity and required elements are included in the public ϐinance bill. Regardless of the statutory requirements, the preparation of a budget should take the principles of planning and administration into account. Retaining a strictly administrative model of financial management is insufficient given challenges faced by local governments. A proper analysis of county financial conditions determines the direction and strategies of county development, based on the budget and using non-budgetary funds.