The Air Traffic Control of Serbia and Montenegro (SMATSA) reported in its financial statements an undistributed profit, as of the last day of 2019, of around 40 million euros. Based on the decisions of the SMATSA Assembly, the salary was directed to “undistributed profit” instead of, in accordance with the Budget Laws that were valid in the period from 2014 to 2019, paying at least 50 percent of the profit to the Republic of Serbia in proportion to the ownership share of 92 percent. Thus, the state budget remained deprived of about 15 million euros, according to the latest report of the State Audit Institution (SAI).
The institution adds that SMATSA, as the second option for that profit, could have decided to increase its own capital with money, and to have liquid funds available to use it to finance investments, with the consent of the Government of the Republic of Serbia, which was also not done.
In addition, SMATSA stated liabilities to the Directorate of Civil Aviation of the Republic of Serbia in the amount of 765 thousand euros, for which the audit procedure did not present documentation and analytical records from which the date and basis of these liabilities can be determined, nor was a census list of these obligation.
The situation is similar with the obligations towards the Civil Aviation Agency of Montenegro in the amount of 8 thousand euros, for which all the necessary documentation was not presented in the audit procedure.
SMATSA also did not make a list of receivables stated in the business books in the total amount of 15.9 million euros in the prescribed manner, because it did not make inventory lists and did not state in special inventory lists receivables for which there is no proper documentation.
It was determined that last year there was no proposal to write off receivables based on route fees and interest with individual receivables written off from the business books in the total amount of 220 thousand euros in the observed period, Nova Ekonomija reports.
