Management a možnosti financování investic u vybraných obcí Moravskoslezského kraje

Abstract

The diploma thesis deals with management and investment financing options in selected municipalities of the Moravian-Silesian Region in the period 2015–2024. The main aim of the thesis is to evaluate the relationship between the structure of investment financing and the investment activity of six selected municipalities: Hukvaldy, Kozmice, Kunčice pod Ondřejníkem, Řepiště, Starý Jičín and Tichá. The thesis focuses mainly on the development of revenues, expenditures, capital expenditures, debt level, financial reserves and transfer resources. The theoretical part defines the basic principles of financial management of local governments, the legal framework of municipal budgeting and the possibilities of financing investments from own, external and subsidy resources. The practical part uses comparative analysis, time series analysis, financial ratios and supplementary non-parametric statistical tests. The results show that higher debt is associated mainly with higher investment intensity per capita in the analysed sample, but not clearly with a higher share of capital expenditures in total expenditures. At the same time, a negative relationship between financial reserves and investment activity is identified, especially in the indicator of investment per capita. Both hypotheses are therefore evaluated as partially confirmed. The thesis further shows that municipal development requires a balanced approach to reserve creation, the use of subsidy resources and the reasonable involvement of external capital.