Estonia: Tallinn city govt to approve financial report for 2021

• Published date: 17 May 2022
• Publication title: LETA

TALLINN, May 17, BNS - The Tallinn city government at its sitting on Wednesday intends to approve the consolidated annual report of the city of Tallinn for 2021, the consolidation group's operating income for the year was 1.14 billion euros and operating expenses 1.04 billion euros.

The total net gain of the city's consolidation group was 102 million euros last year, according to the report. As of Dec. 31, the group had a balance sheet total of 2.01 billion euros and net assets of 1.57 billion euros.

Last year, the consolidation group had more than 20,000 employees and their average monthly salary was 1,585 euros.

As of the balance sheet date, the group's net debt was 155 million euros, or 14.1 percent of operating income. As of Dec. 31, 2021, the balance sheet total of the city of Tallinn was 1.66 billion euros and net assets 1.31 billion euros. In 2021, the city's total net gain was 93 million euros.

In 2021, the city's institutions employed a total of more than 13,000 people and their average monthly salary in the reporting year was 1,461 euros. The increase in the salaries of city employees compared to the previous year was 2.8 percent.

The city's operating revenue last year totaled 842 million euros, of which tax revenue accounted for 67.9 percent, subsidies received for 21.6 percent, revenue from the sale of goods and services as well as other revenue for a total of 10.5 percent. Operating income increased by 8.8 percent or 68 million euros compared to the previous year, while operating expenses increased by 72 million euros.

The largest increase in operating income was in tax revenues and subsidies received -- compared to 2020, tax revenues increased by 41 million euros in the reporting year and 20 million euros more subsidies were received. The city's...