In the conditions of realization of socially oriented strategy of development when one of the major purposes at federal and regional levels is achievement of universal standards of life in Russia, the question of need of improvement of approaches to an assessment of economic and social situation of the population gets special urgency and importance. This article grows out of theoretical and methodological research of a problem of welfare within which this category is studied through a prism of a reproductive approach. The work offers the author’s concept of public welfare which can represent itself as a methodological basis of carrying out social and economic monitoring and assessment of public welfare at the regional level in Russia. The author’s developed statements are recommended for practical use in the process of preparation of concepts, strategies and purpose-oriented programs of the development of administrative and territorial units of Russia in planning and controlling the indicators of economic standards of life of the population.