Abstract: At present, Russian Federation carries out the reforms in a number of strategic management trends concerning regional and municipal finances. One of the reform priorities is the improvement of management efficiency and quality in respect of regional and municipal finances at all stages of the budget process. Due to the understanding of the need to improve the quality of financial management at the municipal level an active scientific and practical work is performed in Russia. The objectives of the study are the study of the legal framework for the assessment of the regional finances management quality and the possibility analysis on the use of the proposed evaluation at the municipal level. This study is devoted to the monitoring system concerning the quality of public finance management, the groups of quality evaluation indicators are studied at the regional level, the shortcomings of their practical application are revealed.