Abstract: In his article Agakishiev analyzes legal issues that arise in the process of carrying out a local referendum on financial and economic bases of a municipal unit. The author examines peculiarities of carrying out such a referendum that covers composition of local budget, use of municipal property and problems which resolution implies additional withdrawal from local budget. Agakishiev gives results of his analysis of German, Switzerland and USA legal acts on the matter. The methodological basis of the research includes a set of general and special research methods: dialetical, logical, systemic, comparative law, historical, formal law and other methods used both collectively and individually. A lot of authors such as A. Avtonomov, V. Komarov, A. Kostyukov, L. Nundenko, V. Pylin, D. Ustinov, A. Sergeev, E. Shugrin and Agakishiev himself have studied the institution of local referendum. The scientific novelty of the research is caused by the fact that the author discovers legal issues that may arise in the process of conduction of local referendums on financial issues. The results of the research prove that there is very little opportunity to carry out a local financial referendum in Russia. Based on the experience of the foreign states, the authro of the article makes suggestions on how to improve the legal regulation and increase opportunity for citizens to participate in financial issues. 

Abstract: Based on the analysis of law and judicial practice, Agakishiev studies regulatory requirements set forth by the Russian legislation in relation to the issues covered by the local referendum. In particular, the author touche supon the requirements for the matter and question formulation at the local referendum. In his research the author also analyzes the laws of the lands of the Federal Republic of Germany, cantons of Switzerland and USA states on the matter. Based on his analysis, the author makes suggestions on how to improve the legal regulation of the institution of the local referendum in Russia. The methodological basis of the research implies a combination of general and special research methods such as dialectical, logical, systemic, typological, comparative law, historical, formal law, and other methods applied both individually and in combination. There is a great number of researches devoted to the institution of local referendum in Russia. In particular, the issue was studied by such authors as A. Avtonomov, V. Komarova, A.Kostyukov, L. Nudnenko, V. Pylin, D. Ustinov, A. Sergeetv, and E. Shugrin. Unlike earlier researches, in this research Agakishiev carries out a detailed analysis of regulatory requirements for the issues discussed at the local referendum. The scientific novelty of the research is also caused by the fact that the author studies the matter from the point of view of both Russian and foreign law. Based on the results of the research, the author defines conflicts of law and gaps. Based on the analysis of the experience of the foreign states, the author makes suggestions on how to improve the legal regulation of requirements for the issues discussed at the local referendum.