2017 annual financial statements confirmed by city council
At its meeting yesterday, the City Council adopted the 2017 annual financial statements with a positive overall result totalling 61.7 million euros. The budget bylaws for 2017 were adopted by the city council on 8 February 2017 and included a result of 9.5 million euros.
Compared to the budget, ordinary income increased by 33.9 million euros to 771.5 million euros. In the same period, ordinary expenses were 18.3 million euros lower than planned. The improvement in earnings is due, among other things, to the reversal of provisions and the positive economic development of the municipal companies and holdings, which is also reflected in the increase in the municipal balance sheet total to around 2.9 billion euros.
Cash-effective improvements resulted, for example, from additional income from trade tax totalling 1.0 million euros. Lower expenses were mainly recorded in social transfer expenses at 11.6 million euros, in the maintenance of land and buildings at 6.9 million euros and in the maintenance/management of movable assets at 5 million euros.
The debt level was reduced to 155.6 million euros in 2017, i.e. the per capita debt is 632 euros/capita.
"Chemnitz is the first major city in Saxony to have its 2017 annual accounts approved on time, providing the city council with a transparent basis for decision-making for the budget consultation," said City Treasurer Sven Schulze.