Development Prospects of the Financing the Cultural Institutions in the Russian Federation on the Example of Libraries

Relevance: in the digital era, cultural institutions are going through hard times, including libraries. Despite the fact that budget expenditures on culture are increasing annually, statistics show that since 2000 the number of libraries of various levels in Russia has decreased by about 14 thousand units. Despite this, libraries continue to develop and transform into modern spaces for working with PCs, holding events, sharing experiences and gaining new knowledge, not only in the traditional way. The scientific novelty of the study lies in the analysis of funding for cultural institutions, as well as gaps associated with the lack of public funding. As a result, the search for ways to attract additional funds to perform the functions of a cultural institution. The practical significance of the work lies in the development of actual recommendations on improving the financing mechanism of cultural institutions, the possibilities of using the above conclusions and recommendations by employees and heads of cultural institutions, librarians and readers within the framework of the possibility of helping the library. Also, the study will be useful for informing those interested in visiting libraries who do not know about the modern functionality of libraries and about the opportunities that are now open to readers. The theoretical significance of the study lies in the development of the author's approach to studying the issue of changing the mechanism of cultural institutions, increasing the efficiency and attractiveness of the work of these institutions, as well as changing the functionality of libraries to the level of modern cultural, leisure and educational institutions. The provisions expressed in the work can be further used in the theoretical and methodological study of the financing of cultural institutions. Object of research: financial support and strategic development of cultural institutions, in particular libraries, in the Russian Federation. The subject of the research is the peculiarities of financing and possible options for the strategic development of cultural institutions, in particular libraries, in Russia at the present time. Purpose of the study: to analyze various sources of funding for libraries in Russia and abroad, to highlight typical problems and propose ways to solve them, to determine general development strategies for Russian libraries and other cultural institutions. The paper analyzes the structure of financial flows of cultural institutions, the distribution of responsibilities for financing cultural institutions. The problem of insufficient funds from budgetary financing of cultural institutions, incl. libraries. Possible alternative sources of funding for cultural institutions are considered. Using the example of libraries, an increase in the level of attractiveness of cultural institutions for visitors and the attraction of additional financial resources is analyzed. It also considers foreign and Russian experience in attracting additional funds to libraries and ways of developing libraries.