The public services reform, which is in progress in Czech republic, includes also improvement of quality of budget process and implementation of new instruments for public finance management. On the local level the changes in managing of budget`s processes brought the new budgets rules for local budgets. This rules set also the multi-year view on financial situation of municipalities and cities by the help of Multi-year budgets. The article defines keystones of multi-year budgeting and advice of some specifics and problems questions in connection of implementation of this instrument in the budgets practice of municipalities in the Czec republic.