POSSIBILITIES OF FINANCING THE SELECTED LEVEL OF EDUCATION IN MUNICIPALITIES
Education is one of the key areas that local governments have to invest in a great amount of financial resources. Raising the educational level of the population can lead to the development of the state economy and increase the competitiveness of the country. Education is a basis for a prosperous society. Slovak Republic has implemented education system consists of three levels. The first level of education can be obtained at elementary schools. In the framework of the state administration reform the competence in this level of education was delegated to municipalities. Municipalities are required to ensure the proper operation of elementary schools and pre-school facilities. Municipalities receive funds from the state budget for the operation of these types of schools. Funds comprise the budgets of municipalities and have to be redistributed among these type of schools. The paper analyses the development of the utilized funds in the field of education of selected cities. The article reveals the tendencies of development of the education funds being invested in selected municipalities. The aim is to propose the optimal share of the funds that should be invested in education from the total budget of the municipalities.