Authors:

Aleksandr V. Prokofyev, Cand Sc. (Econ.), Deputy Bank Manager

Yelena N. Prokofyeva, Cand. Sc. (Econ.), Prof. of Financial Markets and Banking Dept

Abstract:

The state of housing and utilities in Russia has been assessed critical for many years. The needed modernisation of fixed assets and implementation of resource-saving technologies in this sec‑ tor require additional sources of financing, which, however, will not solve the problem unless funds are used efficiently. The paper studies funds of population being the basic source of funding in the housing and utilities sector. Having formed the opinion about its decisive role, the authors examine trends in the structure of expenses on housing and utility bills, their share in consumer spending, and changes in the process of management of these cash flows. Theoretically and methodologically the paper relies on the concepts of public and private goods. Comparison, analysis, systematisation and expert estimates are used as the main methods. The authors highlight the prominent role of funds of population in the overall financial maintenance of housing and utilities sector, as well as confirm that population regards expendi‑ ture on paying housing and utility bills as one of the priority items in the household budget. The central problem is believed to be the necessity to ensure full and timely transfer of population payments to utility providers. The research suggests a mechanism for banks’ participation in this process and proves the need for this considering banks to be professional and independent structures in the cashless payment system in the process of managing funds of the population received as a payment for housing and utili‑ ties. The authors reveal the advantages of timely, full and efficient movement of funds for population and resource providers as the main participants of the housing and utilities sector.

Keywords: housing and utilities; public goods; private goods; living standards; banking system; noncash settlement.

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For citation: Prokofiev A.V., Prokofieva Ye.N. Sredstva naseleniya v sisteme zhilishchno-kommunal'nogo khozyaystva: rol', osobennosti formirovaniya i pereraspredeleniya [Funds of the population in the housing and utilities sector: Their role, accumulation and redistribution specifics] Izvestiya Uralskogo gosudarstvennogo ekonomicheskogo universiteta – Journal of the Ural State University of Economics, 2018, vol. 19, no. 6, pp. 76–88. DOI: 10.29141/2073-10192018-19-6-6