Financial Performance Overview

Federal Grid Companys financial and economic management system is based on budgetary management that has been built in accordance with the hierarchical budget system rule.

In 2012, we approved the Budget Code - a fundamental document that regulates the long-term, medium-term and short-term financial and economic planning of the Company. The Budget Code defines fundamental methodological and organizational principles for creating and utilizing the system of financial and economic planning for the Companys operations. The Companys other regulatory documents concerning financial and economic planning and budget management are developed and adopted in Budget Code development.

During the reporting year, priority tasks of our financial and economic management system included:

  1. Maintaining an optimal level of financial discipline;
  2. Developing the planning system and budget management;
  3. Developing accounting and tax policies;
  4. Effectively utilizing borrowed capital to finance the Company's investment program;
  5. Successfully operating via RAB regulation.