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Financial theory and practice, Vol.33 No.3 September 2009. -

Governments are accountable for providing quality public services to their citizens at the most favourable terms. They are, among other issues, responsible for managing a diversified public asset portfolio.

This paper examines one of the critical financial challenges in Croatia: managing public sector assets efficiently. It attempts to facilitate better understanding of public asset management as an integral part of public sector reforms. The lack of reliable information

on public assets in place hinders determination of the assets’ value, budgeting for asset management activities and evaluating public asset portfolio performance. As a result, assets are managed on an ad-hoc, often reactive basis. Starting from the concept that public

authorities have to be fully accountable to the public, we propose the preconditions necessary for commencing proper public asset management practice in Croatia. Our model might help other countries that are also faced with public asset management inefficiency.

public sector assets; centralised asset registry; accrual financial reporting; professional asset management; Croatia

Autor: Mihaela Grubišić - ; Institute of Economics, Zagreb Mustafa Nušinović - ; Institute of Economics, Zagreb Gorana Roje - ; Inst



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