The city’s finances

2023 was the first year in which the expenditure and income of social services, health care and rescue services are no longer part of the city’s self-financed budget. Key figures show that the restructuring had little impact on the City of Helsinki’s financial situation.
Read more about the city’s finances ›

Efficient use of building assets

The city has developed its building asset management and disposal processes and ownership policies, but these do not yet fully support strategic objectives and service needs. The disposal process for premises has recently been developed, so it remains to be seen what its effects will be.
Read more about the use of building assets ›

The city’s finances

The city’s finances were on a solid footing despite a slight increase in the loan portfolio. The transition of Social Services, Health Care and Rescue Services to government funding from 2023 onwards will significantly change the funding base.
Read more about finances ›

City economy

The economy of the city still has a sound foundation, even though the increasing operating costs have exceeded the limits determined by the City Strategy. The city has succeeded in reducing the loan portfolio in accordance with the strategy while the investment costs have been high. The social welfare and health care reform in 2023 will change the financing base considerably.
Read more about the economy ›

Favourable attitude towards companies and cooperation with companies

The measures promoting a friendly attitude towards companies, for which the Economic Development Division of the City Executive Office was responsible, have largely been successful. In the future, the development of corporate cooperation and a favourable attitude towards companies will require contributions from the entire city organisation and the Economic Development Division in particular.
Read more about the favourable attitude towards companies and cooperation with companies ›

Modernisation and refurbishment project of the Olympic Stadium

The costs of the Olympic Stadium modernisation and refurbishment project were almost EUR 127 million higher than estimated in the project plan. Additional and alteration work increased the costs the most. Another reason for the cost overrun is the fact that the costs of the project plan were not tied to the tender price index.
Read more about the Olympic Stadium refurbishment project ›

The City’s finances

It has been possible to reduce borrowing despite large investments. The increase in expenditure has exceeded the target of the City Strategy. The COVID-19 pandemic is causing economic uncertainty.
Read more about finances ›

Follow-up on the recommendations of the financial audit

The auditor has repeatedly issued recommendations on the following topics: memo vouchers, balance sheet breakdowns, the tracking of movable assets and the existence of assets, procurement activities and administration.
Read more about the follow-up on the recommendations of the financial audit ›

The City’s finances

The City’s finances were strong in 2019. The coronavirus pandemic will weaken the City’s finances in 2020.
Read more about The City’s finances