Key Aspects of Implementation of Participatory Budgeting Model in Georgian Municipalities

The article, based on the latest literary sources and factual materials, consistently studies such an important issue of financial theory and economic practice as the key aspects of implementing participatory budgeting in Georgian municipalities. The factors affecting the effectiveness of the implementation of the participatory budgeting model are discussed: the urban structure of the municipality, the size of the budget of the municipality, and the development of civil society. It is determined that any model of participatory budgeting should adhere to the following principles: model design and implementation procedures should be based on good management principles; The selected procedures should take into account the specific context of a particular municipality, including urban structure, budget size, and population participation; At the planning stage, active actors of the model, interested parties should be identified and their rights and duties defined; The model should fully comply with the legislation of Georgia and the established forms of citizen participation. Based on the international experience and the reality of Georgia, the factors affecting the effectiveness of the implementation of the participatory budgeting model are discussed: the urban structure of the municipality, the size of the municipality’s budget, and the development of civil society. It stands to reason that any participatory budgeting model should have, as a minimum, the following working procedures: population group meetings, information campaigns, development and submission of project proposals, voting, and final decision, and Evaluation of participatory budgeting process and work procedures.