Lugano: final balance closes with a surplus of almost 7 million


Now we must face the unknown concerns regarding the economic impact coronavirus has had on the city accounts

Lugano: final balance closes with a surplus of almost 7 million
@ Archivio CdT

Lugano: final balance closes with a surplus of almost 7 million

@ Archivio CdT

The balance of 2019 for the City of Lugano was approved today by City Hall, closing with an operating surplus of 6.76 million francs, an improvement of almost 10 million compared to the expected deficit of 3.1 million. The 2019 result shows higher revenues than the updated estimate of almost 15.2 million. The higher tax revenues - which affected the positive result - amounted to a total of 30.7 million - of which 12.4 million for tax contingencies (revenue from previous years) 2.8 million for updating the estimate of the final revenue - 11.6 million for supplementary taxes of natural persons attributable to the greater income deriving from the mini tax amnesty, and 2.1 million of higher revenue of tax at source.

Costs show an increase of 13.2 million for the updated 2019 estimate and 23.6 million compared to the 2018 final balance. With the neutralisation of the additional costs of 25 million francs acquired from the update of the estimate referring to additional depreciation of 20 million - and the establishment of an additional provision of 5 million for contributions to the tax potential levelling fund - the final balance 2019 presents lower costs of 1.4 million compared to the final balance 2018.

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