Moderne Finanzierungsstrategien im Gefüge kommunaler Finanzverfassungen

Communities are using more and more often new financing possibilities, which can hardly be classified as classical public financing defined by local government law. The reasons are lying partly in worse public budgets, partly in changing structures and new products of financial markets. Those new possibilities of financing are attended by rising risks for the public budgets, which have mostly no counterpart of risk-management in local government law. This paper gives for the first time a categorisation and analysation of those new possibilities of public financing products and proposes a system of risk-management. This suggestion, called main-investment-planning (Investitionsleitplanung), was developed from basic principles of the urban land-use-planning (Bauleitplanung) and should enable local authorities to use new possibilities of public financing by equip them with a structure for decision and risk-management.