Gone to the swamp: what the audit chamber accuses “Special economic zones”


The audit chamber found multiple violations of the state company “Special economic zones” (JSC “SEZ”), the administering 17 existing special economic zones of Russia, including unreasonable costs, “inefficient management decisions” and the understatement of dividends to the Federal budget. The audit office partly released the results of the inspection of state-owned companies, in General, recognizing the ineffectiveness of special economic zones, which the government has already spent more than 185 billion rubles, as a tool for development of territories. find out the details of the recorded violations.

The audit was conducted on the instruction of President Vladimir Putin, after he heard from the activists of the popular front in November 2015, the state company “SEZ” instead of putting budget money into the construction of “scrolls” in their banks. The report is sent to the Prosecutor General, who if necessary will give criminally-a legal assessment of the facts, said the representative of the chamber of accounts.

A bad bargain rental

The chamber in a press release on the audit writes that the revenue of JSC “SEZ” is formed mainly due to the transfer of property in rent, but the property was rented at a cost below the market average. A source familiar with the results of the inspection, said that rental real estate is mainly located on the territory of the SEZ “Dubna”, “Ulyanovsk” and “Tomsk”.

For example, “Special economic zones” was leased to the JSC “Dubna” for a period of three years the building of the hotel “Resident Hotel” 8 with a total area of 345 sq km, said the official representative of the chamber of accounts. Monthly rent was $ 94.4 thousand rubles (including VAT), while only the depreciation for this property has reached 1.2 million rubles per month. The total amount of income under leases of the hotel and its equipment for 2013-2015 amounted to about 13 mln. compared to depreciation charges of JSC “SEZ” on 68 million roubles. as a result the company’s net income was understated, the auditors. JSC revenues from the lease of property to rent below the cost of its maintenance.

The company does not have weighted depreciation policy: for buildings and structures with the same characteristics in accounting are different useful lives, commented the representative of the accounts chamber: only 16 selected for analysis objects depreciation overstated on average three times: as a result, the state budget has missed 110,5 million rubles of dividends.

Doubtful loans

JSC “SEZ” provided “potentially refundable” unsecured loans, said the source familiar with results of check. One such loan was granted in 2013 for the SEZ “Moglino” in the Pskov region on 113 million rbl. for a period of a year and a half under the 8.25%. The loan was granted for payment of consulting and marketing services-Singapore company Jurong Consultants Pte. According to a source, it was assumed that if “Moglino” will not find means to repay, to return the loan have to be for the account of the authorized capital. At the time of inspection neither the loan nor the interest were not paid.

Millions in the swamp

Auditors found other spending causing issues. In particular, the development of the concept of development of special economic zone “Russian Island” in Primorsky Krai. The contract 23.6 mln was signed between JSC “SEZ” and the Institute of regional policy. Money spent, but in the end it was recognized that to create a special economic zone on island Russian has no meaning because of the harsh climate and low potential of a territory, indicates the source . Now, the creation of this zone was considered unnecessary, Ministry of economic development submitted a draft decree on early termination of the SEZ.

And the creation of tourist-recreational special economic zone “Gates of Baikal” in the Irkutsk region in 2007-2009 JSC “SEZ” has spent 96 million roubles it has been six years, but the infrastructure is not maintained, “in recognition of the site unsuitable for the establishment of a zone — [] the swamp”, according to the comments of the accounts chamber for .

In General, the costs of managing companies only for the development of various concepts, consultancy and marketing services for the creation and management of SEZ amounted 578,7 million rbl., But the reasonableness of these costs in some cases is questionable, because part of the report has not found its application, said the representative of the chamber of accounts.

Risked money

The chamber speaks of a “high-risk financial transactions” JSC and as an example cites the placing of temporarily surplus funds under irrevocable letters of credit in the National Bank of business development (NBB) in 2012. It’s about JSC “Northern Caucasus Resorts”, which held 2.6 billion rubles in the Bank at the time of the revocation of his license in April 2014. Now the requirements of CSC included in the register of requirements of creditors of the Bank, as the representative of the company is included in the composition of the creditors ‘ Committee, specifies a source familiar with results of check.

In General, Federal funds were placed in different credit institutions: for 2013-2015 JSC “SEZ” deposited the funds in credit institutions 17 of 146 contracts. The maturity ranged from two to 368 days, the amount — from 100 million to 8.5 billion rubles, said the representative of the chamber of accounts. The maximum Deposit rate reached 31%, indicating the high risk investments, said the representative office.

The Ministry is known to many of the findings and problems, said the representative of the Ministry: the government has more than a year “is implementing a plan to improve the system of management of the SEZ”. The Ministry of economic development has prepared amendments to the Federal law on SEZ, which will help to solve most of the problems, said the representative office. JSC “SEZ” at the time of preparation of the material not provided comment.

What else is revealed auditors

Almost all the SEZ for a period of training and acceptance of the documents stipulated by the agreements on creation of zones were not observed: on January 1, 2016 long-term plans of development of the SEZ have not been approved by 16 of the 33 zones. 758 planned infrastructure in operation, only 526.

On January 1, 2016 obligations of the regional budgets for the special economic zones not made by 41.7% (more than 45 billion rubles.). The agreement on the establishment of the SEZ does not provide for the responsibility of the regions for the fulfilment of financial obligations.

JSC “SEZ” did not provide the state registration of ownership of 46 of real estate, commissioned before 1 January 2015, is 14,2% of the total number of real estate of JSC “SEZ”.