Budget for 2020 approved

Sound financial position and debt ratio continues to
to lower

Hafnarfjörður's budget
The 2020 budget and the 4-year plan for 2020-2023 were approved by the town council today.
Wednesday, 11 December. The operation of the City of Hafnarfjörður has gone well recently.
years and bears the hallmarks of disciplined financial management, stability and a strong
financial position. The emphasis remains on increased services and on development and strengthening
digital service channels.

Hafnarfjörður
is the third largest municipality in the country with total expenditure of around 29.3 billion
crowns, an estimated wage cost of 14.7 billion crowns and an estimated financing cost
about 1.4 billion króna. The operations of the City of Hafnarfjörður have gone well in recent years.
The operating result was positive, amounting to 1,129 million króna in 2018 and positive
about 799 million krónur in 2017. Thus, it is also expected that
The operating result for the current year will be positive by approximately 791 million.
Krona. Council tax percentage will remain unchanged year-on-year at 14.481%. Sibling discount
has increased and the leisure allowance has risen. The debt ratio will be around 105% at the end of the year.
2020 and on schedule to be around 112% at the end of 2019. Estimated
Current assets from the operations of Sections A and B are 3.6 billion króna, or just under 12% of
total revenue. It is planned to invest 3.1 billion in the year 2020 and bears
notably the development of the southern harbour, the purchase of social housing, Ásvallabraut,
utility works and prioritisation of core services, including school facilities,
transport, sewerage and renewal at Sólvang, along with ongoing works
at a new play, music and primary school in Skarðshlíð.

„At the same time
to strengthen and improve the municipality's core services, to organise important
on projects and ongoing maintenance in line with a specific prioritisation, then we have
we have been taking important steps towards a „smarter“ Hafnarfjörður. Changed
Needs and the working environment require that we seek every means to
to enhance services and make information increasingly accessible. A strong emphasis
Emphasis will be placed in the new year on modernising and developing the services provided with clearer
procedures and the application of information technology“ says Rósa Guðbjartsdóttir, the mayor
The City of Hafnarfjörður in connection with the adoption of the budget today. Work will continue on
major implementation projects in all areas, including health promotion
all age groups, early intervention, multiculturalism, user consultation and improvements to
The working environment for students and staff.

Attached are the supporting documents for the budget:

• Explanatory Memorandum to the 2020 Budget
• Hafnarfjörður – Budget 2020-2023
• Hafnarfjörður – Policy Area Overview 2020-2023