Tartu has generated EUR 800,000 less income than its expenditures over the period of January-August and has reported a total revenue of EUR 124.7 million, the city’s government says, representing 71% of the amount budgeted for the year.
The largest single item, at EUR 60.6-million revenue over the eight-month period, was personal income tax. The figure represented 73% of the 12-month target, in other words receipts were ahead of target for the whole year.
Land tax and local tax including advertising, road and street closure fees and parking charges totaled EUR 62.5 million.
Subsidies came to EUR 48.3 million, with the sale of goods and services amounting to EUR 10.8 million, income from the sale of assets at EUR 1.7 million and other income at EUR 1.4 million, including a dividend of EUR 500,000 from the (private sector) water services company, Tartu Veevark.
The largest expenditure went on education, at EUR 69.4 million.
Total expenditure was EUR 123.9 million, below budget at 62% of the 12-month forecast, and included labor costs at EUR 55.8 million, operating costs of EUR 31.5 million and fixed asset acquisition at EUR 21.8 million.
Servicing loans cost a little over EUR 2 million and no new loans were taken out, the city says. (ERR/Business World Magazine)