Źródła finansowania zewnętrznego jednostek samorządu terytorialnego na przykładzie miasta Wrocławia
The sources of external funding of local government entities on the example of the city of Wrocław

Summary/Abstract: The article presents the analysis of the sources of funding of Local Government Entities (JST) on the example of the city of Wrocław. The authors characterized and assessed particular items of annual accounts, as well as the obtained documents in the years 2011– –2015. The structure of liabilities and the use of financial market instruments were the subject of the detailed analysis. The analysis involved identified loans and credits available exclusively to Local Government Entities, as well as municipal bonds issued by the city government. Among long-term liabilities, the dominant item were credits (61.48%) taken out to finance planned deficit, acquittance resulting from taken out loans and credits, and issued securities. The credits for infrastructure provided for 30.18%, while the credit for realization of tasks connected with the environment al protection amounted merely to 0.55% of the whole debt. The share of liabilities arised from bonds issuance amounted to 4.5%, which indicates that this financial instrument still remains relatively small.

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