Annual accounts
\nThe 2018 budget for the City of Hafnarfj\u00f6r\u00f0ur was approved at a meeting of the Hafnarfj\u00f6r\u00f0ur City Council on
\nday. The operating surplus of Sections A and B of the municipal fund amounted to 1,129 million kr\u00f3na, despite significant investments and unavoidable borrowings during the year. Debt ratio
\nThe municipality's has come down to 112% and has not been lower in 25 years.<\/p>\n
The 2018 annual report of the City of Hafnarfj\u00f6r\u00f0ur shows that the financial position Invested for about 5.3 Population growth necessitates the development of infrastructure. Total assets according to the consolidated balance sheet at the end of
\nThe municipality continues to strengthen. Total annual revenue was 3.6% over
\nplan or 926 million kr\u00f3na. Operating cash flow was 3,863 million kr\u00f3na.
\nor 14.41% of total revenue. Operating surplus for the year for A and B sections of the municipal fund
\namounted to, as previously stated, 1,129 million kr\u00f3na despite important
\ninvestments and unavoidable borrowing during the year, as provided for in the 2018 budget
\nA forecast for a 799 million kr\u00f3na operating surplus. <\/em>Operating result for Section A positive at approximately 490 million kr\u00f3na
\nwhereas the plan had provided for a surplus of 213 million kr\u00f3na. Better result
\nis explained, among other things, by 236 million kr\u00f3na higher tax revenues. R\u00f3sa
\nGu\u00f0bjartsd\u00f3ttir, the mayor of Hafnarfj\u00f6r\u00f0ur, is hopefully pleased with
\nthe results. \u201eOperation
\nHafnarfj\u00f6r\u00f0ur is reliable and it is clear that discipline, supervision and responsibility
\nFinancial management is paying off. The debt ratio continues to fall and operating results
\nOverall positive and ahead of schedule. Responsible financial management in recent years has
\nstrengthen the foundations of the council's operations and make it better equipped
\nto tackle economic challenges and the tasks that lie ahead. We
\nWe look to the future with optimism and will continue to take safe and considered
\na step towards even more robust services, investment and implementation\u201c<\/em>. Operation
\nBudgets were in line with the financial plan, but the main deviations can be attributed to an increase
\ncare fees, increased costs in matters concerning disabled people and outsourced
\nteaching services. <\/strong><\/p>\n
\nbillion a year<\/strong><\/p>\n
\nalongside essential maintenance on the town's assets. An investment of 5,289 was made
\nmillions of kroner in infrastructure and services during the year. The largest projects were
\nConstruction of a new school in Skar\u00f0shl\u00ed\u00f0 for 20.61 million kr\u00f3na and a care home.
\nfor 850 million kr\u00f3na. Construction of sports facilities at \u00c1svellir,
\nKaplakrika and Vi\u00f0 Keili amounted to a total of approximately 696 million kr\u00f3na. Purchase price of flats in
\nThe council's social housing stock amounted to 457 million kr\u00f3nur and refurbishments
\nat St. Joseph's Hospital, around 113 million kroner. About one billion kroner went into
\nworks on road construction, including on the Reykjanesbraut. At the same time, increased
\nFunds have been allocated to education and leisure, and family services.
\nof the municipality. New loans were taken out during the year for the settlement with the Br\u00fa Pension Fund.
\nabout 2 billion kr\u00f3na and about 1.4 billion kr\u00f3na for construction
\nnursing home. In addition, a loan of 500 million kr\u00f3na was taken out for investments.
\nHousing Office for rented accommodation in the social system. Payments of long-term debts
\na total of 1.6 billion kr\u00f3na, or about 200 million kr\u00f3na, in excess of repayments
\nin accordance with loan agreements. <\/p>\n
\nTotal revenue for the year amounted to 55,971 million kr\u00f3na, an increase of 4,798 million year-on-year.
\nTotal liabilities and commitments were 43,191 million kr\u00f3nur and increased by
\n3,004 million kr\u00f3na year-on-year. Equity was 12,780 million kr\u00f3na. Long-term debt
\nincreased by 2,944 million kr\u00f3na due to the aforementioned borrowing,
\nThe pension liability increased by 525 million kr\u00f3na, while short-term debt decreased.
\nabout 763 million kr\u00f3na.<\/p>\n