2015 annual financial statements confirmed by city council
At its meeting today, the City Council approved the 2015 annual financial statements of the City of Chemnitz. While a positive result of 1.2 million euros was assumed in the 2015 budget planning, the annual financial statements show a positive result of 51 million euros.
Despite the reduction in trade tax income by 7.6 million euros compared to 2014, ordinary income rose by 57.6 million euros to 692 million euros in 2015. Ordinary expenses were 7.4 million euros lower than planned in the same period. The improvement in earnings continues to be the result of the reversal of provisions and the positive economic development of the city's companies and holdings, which is also reflected in the increase in the city's total assets to 2.75 billion euros.
The City of Chemnitz's debt level was reduced by around 13 million euros from 213.3 million euros to 200.3 million euros in 2015. This debt level also includes borrowing totalling 10 million euros.
"The city of Chemnitz has clearly caught up on the outstanding annual financial statements. The 2017 annual financial statements are to be prepared by 30 June 2018 and thus on time for the first time. My aim is to provide the city council with a transparent basis for future budget decisions," says City Treasurer Sven Schulze.