This paper deals with the topic Accounting aspects of operations of funds established by the state. The specifics of accounting, as well as financial planning and reporting of funds in the Republic of Croatia, are presented. The emphasis of this paper is on the analysis of reports on the financial position, income and expenses of funds established by the state. The paper sets four basic goals. The first goal is to monitor the operations of funds established by the state by analyzing the accounting aspects of fund operations. We will achieve the stated goal by analyzing the process that begins with the establishment and registration in the register, the recording of business events and at the end of the financial reporting. The second goal is to analyze the relevant factors on the operations of the funds. We can divide the factors into external factors, such as financial crises caused by a pandemic or war, and internal factors, such as the structure and policy of the Fund itself. By analyzing the aforementioned factors, we will show how the financial crisis affects business results. The third goal of the paper is the analysis of the Fund's accounting system on the example of the Nuclear Power Plant Decommissioning Fund Krsko, which will be proven by accounting processing of available financial indicators in the period from 2018 to 2021. The fourth goal is to determine the justification for the establishment of the Fund by the state as the owner, in order to preserve the Fund's capital in conditions of financial uncertainty and inflation, which will also be proven by looking at the available financial indicators in the period from 2018 to 2021.