Tivat: Utility Company to make a Profit of about 2.7 Million Euros

By , 06 Feb 2019, 13:12 PM Business
One of the parking lots in Tivat maintained by the Utility company One of the parking lots in Tivat maintained by the Utility company Sinisa Lukovic

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The Utility company Tivat will generate an income of a total 2,671,900 euros this year, which is almost five percent more than the total revenues of that municipal company in 2018.

As stated in the Financial and Work Plan of the Utility Office for 2019, this company will receive EUR 734,000 from the municipal budget.

The utility revenues are planned to amount to 1,939,500 euros, of which the most 1.4 million euros, is the revenue from the collection of rubbish collection services for citizens and the business entities. As far as expenditure is concerned, the Utility company expects to spend a total of 2,666,050 euros by the end of the year, of which 1,698,800 euros will be spent on earnings of permanent and seasonal workers.

Material business costs will amount to EUR 905,250, of which the largest item is the costs of a garbage dump to the landfill and transport to the landfill site at Mozura near Ulcinj or Cetinje. A total of 275,000 euros will be spent for such purpose this year, over 30,000 euros more than the last year.

Parking Service Tivat (PST), which operates in public parking lots in the city center and at the airport, plans to reach a total of 718,000 euros income this year.

The total expected PST costs would amount to 689,729 euros, which means that it is expected to receive an income of EUR 28,000.

PST has already transferred an income of over 70,000 euros from last year, and as previously announced by the management of this company, most of this money will be used for investments in further improvement of the main activity of the Parking Service.

Text by Sinisa Lukovic, on February 5th 2019, read more at Vijesti

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