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Film Center Sarajevo successfully operated during the first nine months of this year

Film Center Sarajevo successfully operated during the first nine months of this year

The financial operations of the public company Film Center Sarajevo in the first nine months of this year was consolidated – the conclusion of the Supervisory Board of that public company after the session, where the management report for that period was adopted, Film Center Sarajevo announced.

At the end of 2017, this public company had bad financial result, blockade of accounts, a long-delayed payment of employee salaries, locked and blocked business premises (Film studio Jagomir, business building in Dženetić Čikma street), tax and VAT obligations, and a number of other obligations under executive court judgments and debts to the partners. The total debt of this company was about 300,000 KM.

Public company Film Center Sarajevo entered 2018 year with the income plan of BAM 522,000, with plans to provide 322,000 KM through its own business activities, including the projects supported by the Sarajevo Film Foundation, and due to a bad financial situation in the past , the amount of 200.000 KM was planned as the support by the Government of the Federation of BiH for the financial consolidation of public enterprises in the Federation of BiH.

The report for the nine months of work shows that its own realized income was 433,000 KM, which was significantly higher than 322,000 KM plan. Unfortunately, the planned amount of the Government of the Federation of BiH of 200,000 KM was not realized, which made it difficult for the operational rehabilitation and financial consolidation of this public company.

Nevertheless, according to the statement, the plan for this year will be fully fulfilled, while the management of Film Center Sarajevo has already arranged a number of other activities, which ensured normal business operations for the next period.