Following an in-house inspection of LLC «Naftogazenergia» by the Asset Management Performance Monitoring Department of the ARMA, the budget has been replenished by 11.5 million UAH. This result is evidence of the Department's systematic work to monitor compliance with the terms of asset management agreements.
Based on a comprehensive analysis of the expenses incurred by the asset manager in 2023-2024, ARMA specialists found that administrative staff salaries were unlawfully attributed to the expenses under the management agreement, which led to an underpayment of the relevant amount to the state budget. As a result of the violation, an Order was issued, which is binding.
“The state treasury has been replenished by 11.5 million UAH thanks to the clear actions of the Monitoring Department. It is important that the manager recognized the violation and fully complied with the Order. We continue to work to ensure maximum transparency and efficiency of asset management, thus contributing to an increase in state budget revenues,” commented Ihor Chuloi, Director of the Asset Management Department of ARMA.
One of the key factors of successful control and efficiency of ARMA's work is the continuous improvement of the organization's internal processes. By making changes on its own, without external assistance or additional funds, ARMA has been able to significantly improve its efficiency. Over the past year, under the leadership of OlenaDuma, almost 80% of the National Agency's staff has been replaced. The new team has not only strengthened control over asset management, but also significantly improved the quality of management. One of the indicators of improved asset management efficiency is that in 2024, management revenues amounted to more than UAH 1 billion 174 million, which is significantly higher than in the same period in 2022 (almost 35 million UAH), demonstrating significant growth.
“Our results show that ARMA has great potential, but to achieve even better results for the state, we need the support of our legislative initiatives, the approval of which will significantly improve the efficiency of management of seized assets,” said the Head of ARMA Olena Duma.
