These include the Reserve (Stabilization) Fund, the Fund for Decommissioning of Ignalina Nuclear Power Plant, the License Warehouse Compensation Fund, the Account for Plants, and the Agricultural Loan Guarantee Fund.
These include the Turto Bankas, the Lithuanian National Radio and Television, the Ignalina Nuclear Power Plant, the Deposit and Investment Insurance Fund, the Lithuanian Oil Products Agency, the GIS-Centras, the Agriculture Information and Rural Business Center, the Agricultural Credit Guarantee Fund, the Investment and Business Guarantee Agency, and the Regitra.
These include the Public Investment Development Agency (PIDA), the Mortgage Insurance Company, and two energy market entities.
Excluded liabilities items include deferred income arising from budget transfers for capital projects.
This is because the value of some extrabudgetary central government units is included only as an equity investment.
In this report, data on public corporations are based on the financial statements of individual entities. Out of 384 entities, the financial statements for 2017 of 330 entities are published on their websites; and for 23 entities, only the 2016 or 2015 statements are available. No financial information is available for 31 entities, but these are reportedly relatively small.
In the national financial statements, the values of forests and mineral resources (11 percent of GDP) are estimated based on discounted present values of timber sales and mineral tax revenue.
In October 2018, around 8 percent of the total current employees of the SSIF (SODRA) are general government employees (source: Statistical Data Portal of SODRA and staff estimates).
The public sector net worth recorded in the 2017 national financial statements (61 percent of GDP) is lower than the mission’s estimate by 8 percent of GDP. This can be partly explained by the provisions included in the liabilities of the national financial statements. In accordance with the IPSAS, the national financial statements include provisions to recognize probable outflows of resources to settle future obligations. An example is a provision for decommissioning costs of the Ignalina Nuclear Power Plant, which is 6 percent of GDP in 2017.
Annual Report of Land Fund for 2017.
The national accounts publish nonfinancial produced assets of the general government but only two to three years after the end of the year. Latest data published as of this mission were for 2015. Furthermore, the general government nonfinancial produced assets reported by the national accounts are higher than those reported by the national financial statements. This is mainly because the national accounts include several infrastructures under the economic ownership of public corporations (e.g., roads and railroads) in the general government.
For example, other economic flows associated with Keliu Prieziura mentioned below seem to be shown as part of “reclassification” of infrastructures in the explanatory notes, but this item seems to mix both transactions and other economic flows defined in Government Finance Statistics Manual, 2014.
Other economic flows are composed of holding gains and losses, which account for changes in value of assets and liabilities from price changes and revaluation, and other changes in the volumes of assets, which among others, account for appearance and disappearance of assets (for example, discovery of natural resources) and effects of reclassification of institutions.
For example, in the Budget Revenue Review 2017, one fourth of the total tax expenditure were shown as “the application of non-taxable income”, which seems to combine various benefits associated with income taxes.
For 2015, 2016, and 2017, the estimates and outturns of tax expenditure were respectively: EUR 770 million vs. 941 million; EUR 891 million vs.1061 million; and EUR 1021 million vs. 1252 million.
National Audit Office report in 2013 (VA-P-60–3-7) recommended publication of more detailed information on tax expenditure.
Articles 30(3), 32(7), and 33(5) of the Law on the Public Sector Accounting. The unaudited, cash-based State budget implementation reports are published earlier, around mid-March.
Statistics Lithuania published an explanatory note on historical revisions to national accounts when the ESA 95 was replaced with the ESA 2010 framework. However, this was one-off publication.
Information Notice of Statistics Lithuania dated Oct 21, 2014.
This paragraph is based on various articles of the Law on the Official Statistics and the Law on the Government of Lithuania.
Official Statistics Portal (General Government Finance).
The 2018 EDP dialogue visit reviewed institutional responsibilities for GFS, EDP reporting, data sources, as well as the implementation of the ESA 2010 methodology, specifically the delimitation of general government. Furthermore, it discussed the recording of specific government transactions and the application of accrual principles.
This paragraph is based on Articles 133 and 134 of the Constitution and various articles of the Law on the State Audit and the Law on the Public Sector Accounting.
These include the Fund for Decommissioning of Ignalina Nuclear Power Station, the License Warehouse Compensation Fund, the Account