Evaluation of the economic efficiency of forest management in the 'Puszcza Bialowieska' Forest Promotional Complex. Part 2. Analysis of economic and financial indicators

The aim of this study is to assess the economic efficiency of the forest management with particular emphasis on economic and financial indicators of the forest districts (namely Białowieża, Browsk and Hajnówka) constituting the ‘Puszcza Białowieska’ Forest Promotional Complex (FPC). The work involved analysis of indicators reflecting the financial condition of the forest districts with reference to average values for comparison units i.e. 28 other entities from the Regional Directorate of the State Forests in Bialystok. The analysis consisted in the determination of typical values from comparative units in individual years (mean ±standard deviation). The balance sheet, profit and loss account and basic reporting document on financial and economic activities (LPIR1) for the years 2011−2017. Data were collected from the State Forests Information System. Financial liquidity, profitability and management efficiency were analyzed in detail. The net financial result of the forest districts was used for the analyzes, after an additional adjustment, consisting in increasing the net result by the value of the write−off for the forest fund and maintenance costs of the superior units and reduced by the additional payment from the forest fund. The analyzes were based on data collected from the State Forests Information System. On the basis of the research, it was found that the rules of financial management in the State Forests do not pose a risk of deterioration or loss of financial liquidity of the FPC forest districts. However, the inability to obtain the additional payment from a forest fund by individual of FPC forest districts would result in the loss of their ability to function independently. The management efficiency clearly affects the actual financial situation of the FPC forest districts. The deteriorating profitability of the FPC forest districts is caused by negative (loss) net financial results reflects the modified net financial result, including for funds from the forest fund. Restrictions on harvesting, resulting from the implementation of tasks in the field of nature conservation, worsen the economic efficiency of the FPC forest districts