National Audit Office of Lithuania evaluated Report on the State-owned Property for 2006

The National Audit Office of Lithuania performed an audit of the Report on the State-owned Property for 2006. Auditors evaluated whether this report which is drawn up by the Department of Statistics reflects accurately and fairly the financial condition of the State property, as well as whether the State-owned property is accounted for, managed, used, and disposed following the requirements of legal acts.

In the opinion of the National Audit Office of Lithuania the Report on the State-owned Property for 2006 is drawn up in accordance with requirements of legal acts; there are no material misrepresentations compared to data from which it was drawn up. However, although the Report on the State-owned Property for 2006 reflects the financial condition of the State property in so far as it is allowed by requirements valid for accounting of the State property, it does not show the true and fair financial condition of the State property.

The Auditor General Ms Rasa Budbergytė states: "The biggest problem is that the State property is not yet fully accounted for. No owner may rationally and most efficiently manage his property if he does not exactly know its amount."

The public auditors stated that it is not yet clear as to what amount and what kind of the State property is not registered and when this process is completed. The Government was suggested to coordinate in a centralized way the identification of the need for the State funds necessary for validation of all the registerable property. State property information retrieval system which should ensure the quality of decisions related to management, use, and disposal of the State-owned property should have started operating since 2008, however, proper preparations were not made, therefore it is obvious that the term will be adjourned.

In the opinion of the auditors, procedure for drawing up a Report on the State-owned Property should be updated, as well as the decision has to be made about whether this report will be drawn up when starting with 2012 compendiums of the State consolidated and national reports will be drafted, and whether it will be established in legal acts.

Full opinion is available in Lithuanian:
Opinion on the Report on the State-owned Property for 2006