Norðurþing's Financial Outlook and Annual Report for 2024
Norðurþing's Annual Financial Report Overview
Norðurþing is preparing to present its annual financial statements, which detail the performance and sustainability of its operations. The upcoming meeting on the financial report will showcase discussions addressing the municipality's achievements in 2024. The initial debate occurred in a public forum recently, indicating a community-focused approach.
Key Financial Highlights of 2024
The total operational revenue for the year reached a commendable 6.825 billion krónur, surpassing the budgeted forecast of 6.262 billion krónur. This reflects not only an effective management strategy but also an increase in community activities that generate revenue, reinforcing the municipality's financial solidity.
Breakdown of Revenue Sources
The revenue from the A part alone amounted to 5.718 billion krónur, indicating that operational planning aligned well with actual performance, as the predicted revenue was 5.306 billion krónur. This careful financial oversight evokes confidence in the municipality's budgeting process.
Surplus Performance and Financial Strength
Surprisingly, the overall operational results showcasing a surplus of 388 million krónur highlight an upbeat financial trajectory, as the budget previously anticipated a shortfall of 71 million krónur. The A part recorded a healthy surplus of 232 million krónur, surpassing expectations of an 83 million krónur surplus.
Equity and Financial Stability
By year-end, the municipality's equity totaled 4.211 billion krónur, of which 2.233 billion krónur came from the A part alone, suggesting solid backing for current and future projects. This signals a strong foundation for Norðurþing as it aims to continue its developmental initiatives.
Human Resources and Community Development
Total payroll expenses for the year amounted to 3.806 billion krónur, accommodating a workforce of 320 full-time equivalents. This commitment to employment showcases Norðurþing's investment in human capital, vital for sustained growth.
Population Growth and Engagement
By the end of 2024, the population of Norðurþing stood at 3,114, reflecting a growth of 33 residents from the previous year. This increase in population is crucial as it directly impacts local economic activities and social dynamics.
Future Financial Planning and Projections
According to established financial guidelines for municipalities, the debt ratio for Norðurþing has reduced from 65% in 2023 to 63% at year-end 2024. This ongoing commitment to improving financial health is indicative of proactive fiscal policies.
For more information regarding the financial details or operational insights of Norðurþing, please contact Bergþór Bjarnason, Financial Director and Deputy Mayor of Norðurþing, at 464-6100.
Frequently Asked Questions
What is the total operational revenue for Norðurþing in 2024?
The total operational revenue reached 6.825 billion krónur.
How much did Norðurþing's A part generate in revenue?
The A part generated 5.718 billion krónur in revenue.
What was the surplus recorded for the year?
The overall surplus was 388 million krónur, significantly better than budgeted expectations.
What does the equity total indicate about Norðurþing?
Norðurþing's equity of 4.211 billion krónur signals financial strength and project support capabilities.
How has the population of Norðurþing changed?
The population increased by 33 residents, totaling 3,114 by the end of 2024.
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