Council ends 2018 in the black

The Eindhoven Municipality closed the 2018 financial year with a net positive result of €43.9 million.

According to a press release, this was cited in the City’s Annual Report. It was presented to the City Council earlier this month by Councillor Marcel Oosterveer. He holds the finance and operations portfolio at the Municipality. Oosterveer, however, remains realistic, saying in the statement, “This result means an end to the shortages experienced over the last two years.”

“We can be proud of that. But, 2018’s positive result is mainly due to once-off windfalls.” One of these incidental windfalls was the allocation of €21.7 million from the National Sociaal Domein reserves. In 2018, €7.6 million less was also spent on departmental costs than budgeted. This difference is mainly due to the strict management of hiring and filling vacancies.

Delicate financial balance

“The financial balance (in the city) remains fragile,” says the Councillor. “Future developments at governmental level, in particular, can upset this balance. Attention to how funds are managed is still desperately needed. We need to keep an eye on the consequences (of our decisions) for our residents.”

The gross result is €71.6 million. Thanks to the positive result, the City Council can now begin to supplement the Municipal coffers to reach the set standard. This is sooner than expected. The Municipality expects to receive a non-restricted auditor’s report for 2018. This last happened in 2014.

Source: Eindhoven Municipality

Translator: Melinda Walraven

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