{"id":13783,"date":"2019-03-28T00:00:00","date_gmt":"2019-03-28T00:00:00","guid":{"rendered":"https:\/\/hafnarfjordur.is\/arsreikningur-2018-ber-afram-vott-um-abyrga-fjarmalastjorn\/"},"modified":"2022-10-25T09:01:29","modified_gmt":"2022-10-25T09:01:29","slug":"the-2018-annual-report-is-further-proof-of-responsible-financial-management","status":"publish","type":"post","link":"https:\/\/hafnarfjordur.is\/en\/arsreikningur-2018-ber-afram-vott-um-abyrga-fjarmalastjorn\/","title":{"rendered":"The sound management of Hafnarfj\u00f6r\u00f0ur municipality"},"content":{"rendered":"<ul>\n<li>The operating surplus for the year was 1,129 million kr\u00f3na for A and B sections of the municipal fund.<\/li>\n<li>Debt-to-GDP ratio falls to 112.1%. The lowest in a quarter of a century.<\/li>\n<li>Total income for the year was 3.6% over budget, or 926 million kr\u00f3na.<\/li>\n<li>Operating cash flow was 14.41% of total revenue, or 3,863 million kr\u00f3na.<\/li>\n<li>Investments totalled 5,289 million kr\u00f3na during the year.<\/li>\n<\/ul>\n<p>&nbsp;<br \/>The annual accounts of Hafnarfj\u00f6r\u00f0ur municipality for the year 2018 were presented to the town council today. The financial position of Hafnarfj\u00f6r\u00f0ur municipality continues to strengthen, despite significant investments during the year and unavoidable borrowing. The operating surplus for the year for Sections A and B of the municipal budget amounted to 1,129 million kr\u00f3nur, compared to a forecast surplus of 799 million kr\u00f3nur. Operating cash flow was 3,863 million kr\u00f3nur, or 14.41% of total revenues.<em>&nbsp;\u201eThe annual report of the Municipality of Hafnarfj\u00f6r\u00f0ur shows responsible financial management and a sound financial position. The municipality's debt ratio continues to fall, and overall operating results are positive and above forecasts.\u201c <\/em>says R\u00f3sa Gu\u00f0bjartsd\u00f3ttir, Mayor of Hafnarfj\u00f6r\u00f0ur, on the results of the annual accounts presented today. The operating surplus for the year for Sections A and B of the municipal fund amounted to 1,129 million kr\u00f3na. The operating result for the A-part was a surplus of 490 million kr\u00f3na, whereas the budget had provided for a surplus of 213 million kr\u00f3na. Total revenues for the year were 926 million kr\u00f3na higher than budgeted, or 3.61% over the budget.<\/p>\n<h4>Investment in essential infrastructure and services<\/h4>\n<p>Investments in 2018 amounted to 5,289 million kr\u00f3na. Major projects included the construction of a new school in Skar\u00f0shl\u00ed\u00f0 for 2,061 million kr\u00f3na, a nursing home for 850 million kr\u00f3na, and sports facility projects at \u00c1svellir, Kaplakriki and Keili for a total of around 696 million kr\u00f3na. The purchase price of flats for the council's social housing scheme amounted to 457 million kr\u00f3na, and renovations to St. Joseph's Hospital cost around 113 million kr\u00f3na. Around one billion kroner was spent on road construction. New loans were taken out during the year for a settlement with the Br\u00fa Pension Fund of around 2 billion kroner, and for 1.4 billion kroner for the construction of a care home. In addition, a loan of 500 million kr\u00f3nur was taken out for the Housing Office's investment in rental flats for the social housing system. Repayments of long-term debt totalled 1.6 billion kr\u00f3nur, or about 200 million kr\u00f3nur more than the repayments required under loan agreements.&nbsp;<\/p>\n<p><em>\u201eThe operations of the City of Hafnarfj\u00f6r\u00f0ur are disciplined and taxpayers\u201c money is respected. Population growth necessitates the development of infrastructure, alongside the vital maintenance of all the city's assets. It was not long ago that the City of Hafnarfj\u00f6r\u00f0ur was under special monitoring by the Municipal Financial Supervisory Board, but times have now changed. This excellent result is thanks to the city's management and staff. Through responsible management in recent years, all the foundations of the municipality's operations are in good order, and the town has the means to tackle any challenges that may arise from the economic slowdown now facing us. We therefore look to the future with optimism.\"<\/em> says R\u00f3sa.<\/p>\n<p>Tax revenues were 236 million kr\u00f3nur higher than forecast. Convergence fund contributions were 270 million kr\u00f3na over the forecast, and other income was 420 million kr\u00f3na over the forecast, of which the booking of income from sold plots amounted to approximately 65 million kr\u00f3na. Expenditure was approximately 416 million kr\u00f3na over budget, a variance of 1.81%. Financing items were approximately 153 million kr\u00f3na higher than the budget. The operation of the departments was in line with the budget, but the main deviations can be attributed to an increase in care fees, higher costs in disability matters, and purchased teaching services. Total assets at the end of the year amounted to 55,971 million kr\u00f3na, an increase of 4,798 million on the previous year. Total liabilities and obligations amounted to 43,191 million kr\u00f3na, an increase of 3,004 million on the previous year. Long-term liabilities increased by 2,944 million kr\u00f3na due to the aforementioned borrowing, the pension liability increased by 525 million kr\u00f3na, while short-term liabilities decreased by 763 million kr\u00f3na.<\/p>\n<p>The population of Hafnarfj\u00f6r\u00f0ur was 29,791 on 1 December 2018, compared to 29,360 the previous year, an increase of 431 or 1.51%.<\/p>\n<p>The annual report of the Municipality of Hafnarfj\u00f6r\u00f0ur can be accessed <a href=\"https:\/\/hafnarfjordur.is\/en\/media\/fjarmal\/Hafnarfjardarbaer_arsreikningur_-2018.pdf\/\">Here<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Rekstrarafgangur \u00e1rsins var 1.129 millj\u00f3nir kr\u00f3na fyrir A og B hluta b\u00e6jarsj\u00f3\u00f0s Skuldavi\u00f0mi\u00f0 l\u00e6kkar ni\u00f0ur \u00ed 112%. Ekki veri\u00f0 l\u00e6gra \u00ed aldarfj\u00f3r\u00f0ung Heildartekjur \u00e1rsins voru 3,6% yfir \u00e1\u00e6tlun e\u00f0a 926 millj\u00f3nir kr\u00f3na Veltuf\u00e9 fr\u00e1 rekstri var 14,4% af heildartekjum e\u00f0a 3.863 millj\u00f3nir kr\u00f3na Fj\u00e1rfest var fyrir 5.289 millj\u00f3nir kr\u00f3na \u00e1 \u00e1rinu &nbsp;\u00c1rsreikningur Hafnarfjar\u00f0arb\u00e6jar fyrir \u00e1ri\u00f0 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_breakdance_hide_in_design_set":false,"_breakdance_tags":"","wds_primary_category":0,"footnotes":""},"categories":[12],"tags":[],"class_list":["post-13783","post","type-post","status-publish","format-standard","hentry","category-frettir"],"acf":[],"_links":{"self":[{"href":"https:\/\/hafnarfjordur.is\/en\/wp-json\/wp\/v2\/posts\/13783","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hafnarfjordur.is\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hafnarfjordur.is\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hafnarfjordur.is\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hafnarfjordur.is\/en\/wp-json\/wp\/v2\/comments?post=13783"}],"version-history":[{"count":0,"href":"https:\/\/hafnarfjordur.is\/en\/wp-json\/wp\/v2\/posts\/13783\/revisions"}],"wp:attachment":[{"href":"https:\/\/hafnarfjordur.is\/en\/wp-json\/wp\/v2\/media?parent=13783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hafnarfjordur.is\/en\/wp-json\/wp\/v2\/categories?post=13783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hafnarfjordur.is\/en\/wp-json\/wp\/v2\/tags?post=13783"}],"curies":[{"name":"WordPress","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}