This diploma thesis deals with the regional financial management and its relation to the regional development. It can be separated into two parts. The first part of the thesis deals with the reform of public administration, at which the region was created as an autonomous unit. I define its competences, authorities, relation to regional policy, the structure and the trend of revenues and expenditures of regional budgets between 2001 nad 2009. The second part concentrates on the analysis of the position of the concrete region,Vysocina region, in the regional development. Vysocina region implements the regional policy through the Regional Development Plan of Vysocina region. The regional policy is financed by the resources of funds. These funds are not included in the regional badget. There are two funds -- the Vysocina Fund and the Fund of strategical reserves. The goal of the thesis is analysis of the regional financial management with relation to the regional policy of the region and to evaluate the way, how the regional policy is put into effect, and the methods of the regional policy financing.