The City Council granted discharge to the members of the institutions and senior office holders in the City’s areas of responsibility for the financial year of 1 January to 31 December 2024. The City Council approved the treatment of the profit for the financial year by recognising EUR 13.3 million from the depreciation difference arising from previously made investment provisions as revenue, by recognising EUR 147,911.77 from the damages fund as a cover for actual expenditure, and by transferring the surplus of EUR 186.1 million for the financial year under the balance sheet’s “equity surplus from previous financial years” item.
A report on the realisation of the balance sheet during the financial year is not needed, as the balance sheet contains a surplus from previous financial years. The City Council approved the proposed overruns in the budget’s operating margin and investment appropriations.
In connection with the review of the Audit Committee’s audit report for 2024, the City Council decided to mandate the City Board and the committees to take action on the observations presented in the audit report, and to report on these to the City Council by the end of October 2025. The Audit Committee’s audit reports place particular emphasis on highlighting the points where the City has room for improvement in relation to its own objectives.
The audit report noted that the City of Tampere’s financial situation is challenging and that the City’s finances will require balancing. This balance depends on the City’s ability to manage its growing service costs and indebtedness. Continuous economic analysis and proactive decision-making will play a key role in balancing the City’s finances.
The City Council has decided to launch the preparation of an Economic Balancing Programme in connection with the preparation of the budget for 2026. The programme’s practical measures will be decided by the new City Council, which will begin its term in June.
The previous year’s surplus was the result of the incorporation of Tampere Water, without which the City’s result would have been EUR 31.7 million in deficit.
The annual margin of the financial statements for 2024 was EUR 109.0 million, which covered 77% of the planned depreciation. The City’s operating margin was EUR 10.5 million lower than in the amended budget. The City’s operating income was EUR 33.1 million lower and its operating costs were EUR 22.6 million lower.
In connection with the approval of the financial statements, the City Council reviewed and approved the budget’s overruns. The most significant negative deviations from the amended budget were the overruns in the operating margins of the Central Administration’s common items (EUR 19.2 million) and the Housing and Real Estate Committee (EUR 17.0 million).
These deviations were caused by postponed sales of balance sheet assets. The Central Administration’s sales revenue was lowered by the postponement of the sale of Annalan Vuokra-Asunnot Oy’s share capital to 2025 (Group Division decision, 10 December 2024.). The Housing and Real Estate Committee’s lowered sales revenue was caused primarily by the postponement of the sale of the Tipotie social welfare and health care station to 2025.
The City’s net investments (EUR 310.7 million) increased by EUR 81.5 million from the previous year. The internal financing rate of investments was 35%. If Tampere Water’s SVOP investment is deducted from this key figure, the internal financing rate of investments was 48.3%. The City’s loan portfolio increased by EUR 89.9 million from the previous year. The loan amount per resident was EUR 3,624 at the end of the year.
Tampere City Group’s result for 2024 was a surplus of EUR 48 million. The Group’s profit decreased by EUR 16.3 million compared to 2023. The Group’s investment expenditure was EUR 538.6 million, and the internal financing rate of investments was 53%. The Group’s loan amount per resident was EUR 9,559.
2024 was the third year of implementation of Tampere's City of Action strategy. According to the Audit Board’s audit report, the implementation of the City's strategy progressed well from the perspective of its annual targets.
Based on the strategy, the City Council set a total of 45 objectives for 2024, the majority of which (73%) were implemented as planned or in part. Of the 92 targets set by the City Council for its subsidiaries, the majority (81%) were achieved in full or in part.
