The financial statements of the City of Kankaanpää show a surplus of almost 4,9 million euros. It met the characteristics of a strengthening economy for the fourth consecutive time.
The result for the financial year is almost 2 million euros better than the amended budget. The good result was partly due to the last installment of the municipal association grant and the one-off effects on central government transfers and tax revenue related to the welfare area reform.
The balance sheet had a surplus of EUR 5,5 million accumulated from previous financial years. After 2023, the surplus has accumulated to EUR 10,4 million.
-The accumulated buffer provides security for the upcoming years of economic tightening, which appear as deficits in the financial plans. Major economic challenges are expected in the coming years, but it is much more comfortable to tackle them with the help of the surplus accumulated in the balance sheet, says the mayor. Mika Hatanpaa.
During 2023, the investment level was low compared to previous years. Net investments totaled 3,8 million euros. Due to the good financial result and the relatively low investment level, the city was able to reduce its loan amount by 4,3 million euros. It is significant that over the past five years, net investments of almost 37 million euros have been made in Kankaanpää and Honkajoki, so that at the same time the loan stock has decreased by just under 3 million euros. The city's total loan amount is currently approximately 55 million euros. The city's interest expenses were approximately 600 euros. The high level of hedging of loans significantly slowed the growth of interest costs.
The future challenge for a city that is strongly self-sufficient in jobs will be the effects of demographic development on the city's income base and need for services.
View the 2023 financial statements here
Additional information:
Mayor Mika Hatanpää, City of Kankaanpää, tel. 044 577 2210, [email protected]
Financial Director Ari Virolainen, City of Kankaanpää, tel. 044 577 2241, [email protected]