City Council confirms 2012 annual financial statements
The City Council of the City of Chemnitz confirmed the annual financial statements for 2012 at its meeting. These 2012 annual financial statements comprise the income statement, financial statement and statement of assets (balance sheet).
The budget planning for the 2012 financial year did not succeed in balancing the double-entry budget. The budget bylaws for 2012 were adopted by the City Council in February 2012 with resolution no. B-013/2012.
With resolution B-274/2012, the city council adopted the supplementary statutes in November 2012. The addendum included an increase in commitment appropriations of
25 million euros for the construction of the new stadium on Gellertstrasse. The disbursement estimates were categorised in the medium-term financial planning for 2013 and 2014. The proceeds from taking out loans served as cover.
Budget implementation in 2012 was positive, partly due to the economical management of funds. While the budget plan still showed a double-digit deficit of € 40 million, the annual financial statements showed the following results:
Balance of ordinary income and expenses: 27,621,800 euros
Balance of extraordinary income and expenses: 477,700 euros
Overall result: 28,099,500 euros
The annual financial statements were prepared in the first half of 2015 and the Administration and Finance Committee was informed of this in the advisory document BR-010/2015.
The preparation of the annual financial statements was followed by a local audit by the City of Chemnitz Audit Office in accordance with Section 104 SächsGemO. The audit findings did not reveal any significant deficiencies in terms of material violations of the statutory provisions, which is why the Audit Office decided not to make any subsequent corrections to the 2012 annual financial statements.
The Audit Office certifies that the 2012 annual financial statements give a realistic picture of the budgetary situation of the City of Chemnitz.