Despite the complex measures, taken in recent years and aimed at solving the problem of the advanced development of the Far East, including the measures for the attraction of public investments, the creation of financial, investment and other instruments for the development of the macroregion; regional investment projects, territories of advanced socio-economic development, special economic zones and others, the regions of the Far Eastern Federal district still have a significant lag behind the level of development of other regions of Russia in most socio-economic indicators, and their contribution to the economy of the Russian Federation in comparison with their resource potential remains insignificant. In this regard, the model budget, which is calculated by averaging the costs with implementation to them various coefficients may not give an accurate assessment of sufficient amount of financial resources, necessary for the full execution of the powers, set for the state power bodies of subjects of the Russian Federation and local self-government bodies of subjects of the Russian Federation within the Far Eastern Federal district. The calculation of the model budget should be made more accurately with the separate consideration of the costs’ rising factors in relation to each locality and the number of citizens living in them. The article considers the results of the implementation of the model budget to the balancing the budgets of the Far East regions. Among the main problems, hindering the development of the Far East, in particular, in the article are noted long-term large-scale outflow of population and the associated shortage of labour resources, low level of infrastructure and social services’ development, high costs of living and doing business in the macroregion, the remoteness of domestic markets, etc.