The article analyses the relevance and necessity of developing a system of monitoring indicators of municipal programs by local self-government bodies in connection with adopting the Program of the Government of the Russian Federation concerning improving the efficiency of the public municipal finance management. Indicative monitoring of municipal programs is necessary for municipal authorities to adjust both individual indicators and programs in general in a timely manner. This provides an opportunity to manage the effectiveness of programs as well as to match the development goals of social and economic systems at different levels, including national goals. The basis of the indicative approach to the management of municipal programs is the existence of a long-term strategy for the social and economic development of the municipality, as well as a set of economic regulators. The basis of the monitoring is evaluating intermediate indicators of programs (reference points of implementation), monitoring the implementation of programs: final indicators, taking management decisions concerning the adjustment. The article proposes creating and applying a unified standard procedure for assessing the effectiveness of municipal programs, and gives recommendations to local selfgovernment bodies on the use of various methods of assessing the achievement of target indicators. As a result, municipalities will be able to control the use of resources and determine the strengths and weaknesses of their territory, which will allow taking timely and informed management decisions. The authors propose the method of monitoring the indicative indicators of programs. The unified methodology will allow comparing municipal entities of the Russian Federation according to the level of development, identifying and spreading successful practices of implementing municipal programs and their efficiency management. The paper presents the results of testing the methodology using the municipality of Volgograd as an example.