Tartu brings in €124.7 million fiscal receipts January- August

Tartu has generated €800,000 less income than its expenditures over the period January to August 2020, and has reported a total revenue of €124.7 million, the city’s government says, representing 71 percent of the amount budgeted for the year.

The largest single item, at €60.6 million revenue over the eight-month period, was personal income tax. The figure represented 73 percent of the 12-month target, in other words receipts are ahead of target for the whole year.

Land tax and local tax including advertising, road and street closure fees and parking charges totaled €62.5 million.

Subsidies came to €48.3 million, with the sale of goods and services amounting to €10.8 million, income from the sale of assets €1.7 million and other income €1.4 million, including a dividend of €500,000 from the (private sector) water services company, Tartu Veevärk.

The largest expenditure went on education, at €69.4 million.

Total expenditure was €123.9 million, below budget at 62 percent of the 12-month forecast, and included labor costs at €55.8 million, operating costs of €31.5 million and fixed asset acquisition at €21.8 million.

Servicing loans cost a little over €2 million and no new loans were taken out, the city says

Read more:ERR.EE

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