Kayurov Evgeniy - Postgraduate Student, Department of Constitutional and Administrative Law, Samara State University. Address: 1 Akademika Pavlova Str., Samara, 443011, Russian Federation. E-mail: kayurove@mail.ru.

The article deals with the research of the current constitutional law regulation as to state (municipal) finances. Primarily, the author focuses on the fundamentals of administering finances according to the RF Constitution, which allows tracing further correlation between applicable legal regulation and the norms of the RF Constitution. The research touches upon a new research study, i.e. constitutional economics. In particular, the questions of forming, using public finance, supervision over their spending are a subject-matter of constitutional economics aimed to analyze the principles of the best combination of efficient economic (financial) solutions to ensure the performance of constitutional guarantees and principles. The original position on the problems promotes to the development of this scientific study in Russia. The paper is divided into three blocks according to the purpose of studying the components and features of public finances. In particular, the author pays attention to the fundamentals of state (municipal) finances, general principles of budget policy and budget process and the ideas of budget federalism. On the basis of the analysis of the Russian applicable legislation, practice and comparison of constitutional law regulation of similar problems abroad, the author proposes several ideas and recommendations which would increase the efficiency of applying state (municipal) finances. In particular, within the first block, the author proposes conceptions of codifying not a cumbersome taxation system based on the economic ability of population; introduction of the principle of economical spending of budget; introduction of the principle of purposefulness of tax exemptions etc. Within the problems outlined in the second block, the author stresses the lack of legal regulation of relations as to personal involvement of citizens into the budget process. As to the third block, the authors draws attention to the comparative analysis of the constitutions of foreign countries with the Russian one as to budgetary federalism and arrives at the conclusion that on irrelevant constitutional regulation as to common principles of forming profit bases at the level of public power and determining the system of interbudgetary interaction.