Fjarðabyggð forecasts 758 million króna surplus for 2027

Fjarðabyggð’s municipal council expects an operating surplus of 758 million króna and investments of more than 1 billion króna in 2027, according to mbl.is. The figures are included in a proposed budget for 2027 to 2030.

The municipality expects operating revenue of 12.9 billion króna in 2027. It forecasts 1.67 billion króna in cash from operations, enough to fund that year’s investments and repay debt. The budget sets aside 540 million króna to repay long-term loans and lease liabilities.

The proposal would lower the property tax rate on residential buildings from 0.40% to 0.39%, while leaving the municipal income tax rate unchanged.

Planned projects for 2027 include replacing roof cladding at the primary school in Fáskrúðsfjörður and cladding and windows at the primary school in Stöðvarfjörður. The municipality also plans to continue preparing for a new sports hall in Eskifjörður and developing the Icelandic Wartime Museum in Reyðarfjörður.

Investments over the four-year period are forecast at nearly 3.4 billion króna. The proposal does not include new long-term borrowing, apart from loans from the Avalanche Fund for safety works, the municipality said.

Education and upbringing is the municipality’s largest spending area, with 4.5 billion króna budgeted for 2027. Youth and sports are allocated 1.45 billion króna, while social services are set to receive just over 1 billion króna.