Abstract
Democratic changes have affected all aspects of life during recent years and have led to a reform in the way financial control is applied in the public sector in Bulgaria. The purpose of the current research paper is to analyze the system for financial management and control (SFMC) in the State Reserve (SR) and War-time Stock (WTS) State Agency and to pinpoint the problems that arise during the process of its functioning as well as to develop certain measures for its good financial management. The article reviews the essentials of the systems for financial management and control in the public sector as well as SFMC’s structure, organization, and functioning at the SR WTS State Agency. The conducted research also presents various results and conclusions. The correctly functioning system of FMC provides reasonable confidence that the organization’s aims are going to be accomplished by adhering to the principles of lawfulness, good financial management, and transparency.
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