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The new financial system of local government and intermunicipal entities was approved by Act No. 73/2013, entering into force on 1 January 2014. The institution of this new local financial system provides for a set of fundamental principles intended to ensure an effective financial coordination between central and local administration and to contribute to the budgetary control and to the prevention of financial instability and disequilibrium situations.
Our financial activity is developed after the following principles:
Principle of legality; principle of budgetary stability; principle of financial autonomy; principle of transparency; principle of reciprocal national solidarity; principle of intergenerational equity; principle of coordination between local and State finance; principle of inspection supervision.