| Abstract [eng] |
Strategic management of municipal treasury is described and analyzed in the thesis. The main aim of the research is to formulate and base on the strategic improvement sets of municipal treasury management. A strategy for improvement of municipal treasury management was formed on the basis on the analysis of theoretical sources, legal acts and documents, informants and experts interviews. The research consists of three parts. The first part deals with the analysis of scientific literature, which studies the financial management system at the state and municipal level, strategic management and the main strategic documents of Lithuania and the European Union. The analysis of the literature identifies the essential links between strategic management, the main strategic documents of Lithuania and the European Union and the Municipal Treasury Management System and its improvement. In the second part the methodological bases of PEST, SWOT, document analysis, informant and expert interview methods are submitted and the development of the design of the ongoing research is given. The third part summarizes and interprets the results of the research and presents the strategy for improvement of municipal treasury management. The conclusions emphasize that the economic stability and the competitiveness of the country, as well as the social welfare of all members of society, are ensured by efficiently managed resources. The strategic plan and budget are the most important financial documents of the Treasury that define the flow of financial resources. Under the current legal framework, the strategic plan has little to do with the budget due to inadequate evaluation indicators. Municipal treasuries seek efficient management and use of financial resources. This is achieved through the implementation of advanced management techniques and technologies, improved strategic planning and internal audit tools. However, their activities are process oriented, not results oriented. A strategy for the improvement of municipal treasury management has been developed using methods of scientific literature and document analysis, PEST analysis, SWOT analysis, interpretation, informants 'and experts' semi-structured interview, generalization and rationale research. The strategy pursues four objectives: \"effective management of financial resources\", \"implementation of unified information systems in the areas of document management, strategic planning and financial management\", \"enhanced human resources management in public finance management\" and \"ensuring transparency of financial information\". Tasks and measures have been formed to implement the strategy and the necessary resources have been provided. Substantial recommendations are made: The Government of the Republic of Lithuania is offered to eliminate legal gaps in municipal borrowing and budget implementation regulation. The Lithuanian Association of Municipalities is invited to initiate a study on the optimization of general management functions and to make recommendations. It is offered that municipal administrations should apply the principles of participatory budgeting, prepare common financial arrangements suitable for all public sector entities and enhance cooperation with other public sector bodies by sharing best practices and knowledge gained. |
