2019/2020 budget approved by the state directorate without conditions
On 8 March 2019, the State Directorate of Saxony approved the budget of the City of Chemnitz without any conditions. Accordingly, the supervisory authority confirmed the 2019/2020 budget bylaws adopted by a large majority of the city council in December 2018.
The 2019/2020 budget has a volume of around 1.6 billion euros in the operating budget. Around 243 million euros are planned in the financial budget for investments, particularly in school construction and public infrastructure. Around 197 million euros have been earmarked for school locations up to 2023. Around 23 million euros will flow into the further expansion of broadband.
The decision also authorised borrowing for investments and investment promotion measures for 2019 and 2020 totalling 48.3 million euros.
Mayor Sven Schulze: "The city of Chemnitz is in a stable budgetary position and is benefiting from the favourable economic situation. At the same time, however, we are also called upon to handle the city's finances with a sense of proportion and responsibility. We need to keep an eye on risks and cost increases so that we always remain in control."
The City of Chemnitz was able to demonstrate that its budget was balanced in accordance with the law. However, the State Directorate points out that the development of the city's financial situation in the financial planning period is negatively characterised due to the gradual depletion of the current liquidity.