The Social Cost-Benefit Analysis as Estimation Methodology: Case Study for Infrastructure Projects (ANALIZA DRUŽBENIH STROŠKOV IN KORISTI KOT METODOLOGIJA VREDNOTENJA: ŠTUDIJA PRIMERA ZA INFRASTRUKTURNE PROJEKTE)

English Abstract: Local public investments are financed by budget funds (state, county, local), debt funds (loans or credits, municipal obligations) and non-debt funds (users’ charges and methods and techniques of public-private partnership). In this paper some theoretical issues about cost-benefit analysis (CBA) and advantages and limitations in applying it are discussed. CBA is used in the public sector in making decisions where it is relatively easy to determine the costs, but the expected benefits can be difficult to express in monetary value. To ensure an equitable quantity of financial sources according to negative difference between inflows and outflows is one of the most important goals of the project. Based on theoretical framework about CBA, a calculation was made on social profitability of the project Public sewerage and water protection in the Region of Istria. The main conclusion of this paper is that if the project achieves the social profitability, net profit and high economic internal rate of return, it is possible to accept the realization of the project.Slovene Abstract: Gospodarske investicije so pomemben dejavnik vsakega mesta, obcine in države. V tranzicijskih državah in tudi v razvitih državah so zaradi hitre decentralizacije javnih funkcij lokalne oblasti pogosto v nezavidljivem financnem položaju. Soocene so z nezadostnim proracunom, kar povzroca pomanjkanje financnih sredstev za financiranje velikih infrastrukturnih projektov. Ker so investicije v infrastrukturne projekte kompleksne in drage, jih ni mogoce financirati iz proracuna lokalne oblasti. Glede na to, da decentralizacija vodi do zmanjsanja državnih financnih sredstev, pa iz proracuna kapitalskih investicij na lokalni ravni ni mogoce financirati. Kadar proracunska sredstva lokalnih javnih organov ne zadostujejo in se želi zmanjsati zadolženost lokalnih oblasti za financiranje kompleksnih in dragih projektov lokalne in regionalne infrastrukture, se kot partner uveljavlja zasebni sektor (Sever, 2004 ). Tehnike združevanja sredstev lokalnega sektorja in zasebnega kapitala se uporabljajo za financiranje tistih projektov, ki imajo zadovoljivo stopnjo donosa na investirana sredstva in za katere obstaja visoka stopnja tveganja na donos kapitala.