Summary:

The subject of paper is an analysis of selected commune capability for investment outlays realization. The Wiśniowa commune situated in the malopolskie province was selected for the investigations. The analysis used indices showing relationships between financial values constituting components of the territorial self government unit budget.
In result of the analysis concerning the years 2002-2004 a number of facts were established which speak well of potential financing investment outlays by the commune. Particularly the operational surplus assumed positive value which means that sums obtained from returnable sources were wholly destined for financing investment outlays, moreover the operational surplus itself might also be allocated for their financing. Total means which could be assigned for financing investment tasks and debt service were growing, as testified by an increase in free asset index, which increased from 15.84% to 21.43%. Operational surplus index was characterized by a much greater variability and although its decline from 11.21% to 2.65% was observed, yet it still revealed positive value and in this way contributed to the increase in means for investment outlays financing. Indices of investment outlays realization revealed a growing tendency in the studied period. Investment expenditure grew over twice in comparison with total commune incomes - from 12.03% to 21.17%. At the same time relationship of investment expenditure referred to free assets category increased from the level of 75.90% to 126.77%, which means that investment expenditure exceeded the amount of free assets and the commune to a greater extent reached for returnable sources of investment financing. Also the fact that value of index of liabilities relationship to realized investment expenditure was below 100%, speaks well of financial situation of the analyzed commune.