Problems of Financial Management in the Public Sector

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Slavica Anđelić
Aleksandar Gajić
Đorđe Ilić


The paper discusses the financial management in the enterprise Serbian Railways. The construction of the first railroads in our country began back in the mid of the last century, when a large part of our territory ruled by the Austro-Hungarian Monarchy and the Ottoman Empire. The development of railway transport in the region saw the expansion of the late nineteenth and early twentieth century, twisting in the territory of the then country: Serbia, Montenegro, Austria-Hungary and Turkey. Today Serbian Railways railway network is 4.347km, 1.387km of which electrified (32%). The main activity of eating the transport of passengers and goods, hauling the trains and maintenance of traction units, trains and rolling stock, track maintenance and control over them, control over other lines and station structures and installations, maintenance and construction of equipment and installations.

The significance of this research is the promotion of modern methods of financial management and for pointing out the importance of the same for efficient business operations. Using modern methods of financial management it is possible to identify and monitor the needs for financial resources and their sources. It is de facto one of the central category of financial management.

The main objective of this study is to monitor and analyze the financial resources of the company "Serbian Railways", that they are optimal from the viewpoint of the situation and trends, and to the short and long term. Financial management includes compliance tools and resources in the process of business where revenues are greater than expenses. It is therefore important that in addition to the scope, structure and resources to be covered by the method of determining the necessary financial resources.

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