Abstract
The purpose of the study is to identify the specifics of regional financing by studying the problems of resource provision on both a budgetary and extra-budgetary basis. Methodology. The study is based on the use of analysis and deduction, which allowed us to identify patterns in the budget process; content analysis, which served as the basis for substantiating the developed methodology for assessing budget sufficiency; statistical research methods: grouping, classification, and visualization of research results using graphs and tables. The uniqueness of the study lies in the fact that, as a rule, the assessment of budget sufficiency is assessed based on legislative regulations or proprietary methods of various researchers, while the methodology proposed in this study is substantiated taking into account the main practices and minimizes limitations. The data obtained as a result of collecting and analyzing the issue of municipal bonds using the example of the four largest regions of Kazakhstan made it possible to establish the main features and possible risks of their servicing. The recommendations developed in this study will help expand the range of research in such areas as regional governance, public finance, the effectiveness and level of regional financing, and the achievement of sustainable development goals. The study revealed insufficient independence of regional authorities and management bodies in resolving budget planning issues. This also indicates their incomplete involvement in the budget process as the main administrators of the local budget. The level of budget provision in the regions under study remains not very high. The issue of municipal borrowing requires a more systematic approach to taking into account all potential risks.