Public-Private Partnership: accountants’ guidelines for drafting an economic-financial plan

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(Finance) – Council and National Research Foundation for accountantsI published the document “Guidelines for the drafting of the economic-financial plan in public-private partnership procedures: updates based on the new code and recent practice”, which delves into the topic of developing the economic-financial plan in the context of PPP (public-private partnership) procedures and represents an update of the guidelines published in 2019.

The document – explains the note – is divided into six sectionsi: the public-private partnership in light of the new code of public contracts; risk allocation in PPP operations; the economic-financial plan in the PPP in light of the new ANAC-MEF-RGS indications and recent jurisprudence; the monitoring of the concession and the hypotheses of revision of the economic-financial plan; a reference model; conclusions

The updating of the guidelines, carried out within the “Corporate Finance” delegation area – entrusted to the director Antonio Repaci – by researchers Roberto De Luca and Nicola Lucido, it became necessary above all following the entry into force of the new Public Contracts Code.

The paper also refers to recent provisions issued by the standard setter of reference (mainly ANAC, MEF and State General Accounting Office), as well as some significant jurisprudential rulings that have addressed the topics covered, also evaluating very specific topics that require strong technical skills. In fact, from risk management to the cost of capital, from profitability to financial sustainabilitya, for the purposes of adequate use of the PPP, the intervention of highly specialized figures is necessary who are able to best manage the investments, finding the right balance between the needs of the different players in the field.

In the introduction, it is underlined how the public-private partnership tools can also represent a significant driver to encourage and support the implementation of the interventions envisaged by the PNRR, generating benefits for the entire economic system of the country. For this reason, the Council and the National Research Foundation of Accountants wanted to provide an exhaustive analysis of the underlying issues in order to offer guidance to a wide range of local authorities and businesses that use or intend to use partnership procedures and need to manage and monitor them as best as possible.

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