Annual report 2023 approved by the town council
The 2023 annual report for the City of Hafnarfjörður was approved by the City Council of Hafnarfjörður on Wednesday, 8 May. The main findings show that the surplus from the operation of Section A amounted to 251 million króna, which is almost the same surplus as the previous year. The operating surplus for Sections A and B amounted to 808 million króna in 2023, and the result before financial items was 3,649 million króna. Investments in 2023 totalled just over 7.1 billion króna, an increase of 74% year-on-year.
74% increase in investments year-on-year
The 2023 annual report for the City of Hafnarfjörður was approved by the City Council of Hafnarfjörður on Wednesday, 8 May. The main findings show that the surplus from the operation of Section A amounted to 251 million króna, which is almost the same surplus as the previous year. The operating surplus for Sections A and B amounted to 808 million króna in 2023, and the result before financial items was 3,649 million króna. Investments in 2023 totalled just over 7.1 billion króna, an increase of 74% year-on-year.
Debt ratio falls to 82%
Hafnarfjörður's debt ratio continued to fall in 2023 from 851% to 821%, and is therefore well below the 150% debt ratio according to the regulations on financial criteria and supervision of the finances of municipalities. Operating cash flow from Sections A and B amounted to 2,635 million króna, 904 million over budget. Operating cash flow accounted for 5.61% of total revenues last year.
Operating revenue amounted to 47.3 billion króna in 2023, an increase of 5.4 billion year-on-year. Operating expenses were 42.0 billion króna, an increase of 5.4 billion.
The total assets of the City of Hafnarfjörður amounted to 93.9 billion krónur at the end of 2023, an increase of 9.3 billion from the previous year. Equity stood at 32.8 billion krónur at year-end, up by 4.6 billion krónur on the year. The equity ratio increased from 33.31% to 34.91% during 2023.
„The annual report for last year is characterised by solid operations and robust infrastructure development. The debt ratio is falling for another year, and the financial position of the Municipality of Hafnarfjörður continues to strengthen. At the same time, the proportion of council tax and property taxes in total revenue has decreased, thereby keeping the burden on residents down.“ says Rósa Guðbjartsdóttir, the mayor. ,It is also pleasing to see current operating cash flow increase year-on-year, as this strengthens the council's ability to meet its commitments and obligations.“
Annual Report of the Municipality of Hafnarfjörður 2023
A very good year in operation behind us | Hafnarfjörður (hafnarfjordur.is) – notification when the annual accounts were submitted to the town council in April 2024