Institutional portal - Municipality of Milan

Positive result with an administration surplus of 162 million euros. Tasca: “The result of virtuous management. But the alarm over the accounts remains and Milan needs special care"

Milan, 27 April 2020 - A positive result for the 2019 final balance sheet, approved by the council and expected to be discussed in the city council. The balance sheet shows the amount of current expenses at 2.7 billion, net of an FCDE (Doubtful Credit Fund) contribution of 323 million and reimbursement of mortgage principal amounts of 198 million. Balanced budget respected.

A situation that allows a Palazzo Marino to set aside a net amount of 162 million euros as an administration surplus, available for current expenses. A positive sign given the difficult moment due to the decline in revenue from the 2020 budget due to the coronavirus emergency.

“The Municipality of Milan confirms itself as virtuous and capable of planning the management of resources with meticulous attention. But in this situation our efforts are not sufficient and the alarm about the accounts remains high - states the budget councilor, Roberto Tasca -. Only thanks to the careful work of the Council and the management have we managed to obtain the stabilization of current expenses, a fact that has become a constant feature of the Sala Administration since it took office".

“At the same time – continues Tasca – we can count on valuable spending savings in 2019, a year in which the negative impact of the CoViD-19 emergency on 2020-2022 revenues was not foreseen. These savings allow us to alleviate, only partially, the burden on current expenditure of lost revenue, which we now estimate at over 400 million euros. For Milan, particular care is needed on the part of the Region and the Government, because the burden that the city takes on in managing complex services is enormous. The 2019 final balance also highlights, for the second year in a row, the organisation's excellent ability to strengthen investments. If Milan has resources, it knows how to use them."

In fact, the item relating to capital expenditure stands at 806 million euros in 2019. Greater investments have been made especially in the transport and road sectors.