FINANCIAL MONITORING OF UTILITY ENTERPRISES

Abstract

The article is devoted to the problem of introducing a comprehensive methodology for financial monitoring of utilities of Ukraine. Without the effective utilization of communal property and other, primarily financial, resources in municipal ownership, it is impossible to qualitatively fulfill the tasks assigned to local authorities. According to the changes in the Commercial Code all utilities must disclose their financial statements on the company's website or local council. Considered the types and main aspects of the activities of utilities. The essence of financial monitoring is analyzed and the necessity and expediency of its implementation in utilities is substantiated. Based on the analyzing financial monitoring definitions, we substantiated that the monitoring task is to prevent a particular threat to the effective operation of the relevant facility. Due to the lack of control over the activities of communal enterprise managers and the lack of incentives to increase the efficiency of their activities, it is difficult to talk about creating an effective financial monitoring system. In Ukraine, enterprises at the legislative level are subject to financial monitoring from the point of view of preventing the use of the entity and its separate units for the purpose of legalization (laundering) of proceeds from crime, financing of terrorism and financing of the proliferation of weapons of mass destruction. We believe that it is also important to keep track of the results of the internal state of the business entity and compare it with the planned and the possibility of warning about the emergence of qualitatively new processes within it and from the external environment. Analyzed some aspects of foreign experience of implementation public financial monitoring of state and municipal property. Attention is focused on the implementation of the electronic procurement system and its monitoring as the main components of the system of financial monitoring of utilities. Also proposed are the main indicators for a possible methodology for monitoring their financial condition.