A budget is a plan concerning city's actions and economy. The city council decides on it annually.
Each year the city council decides on a budget. It is approved in the end of the year before a new fiscal year begins.
City strategy is a key element in planning a budget. Through the strategy and annual budgets the council members are able to have an impact on how the city functions. The budget consists of plans for both the upcoming fiscal year and the three years following it. Budget defines how resources are collected and allocated.
In other words, a budget presents us:
- the things the city is planning to use money on
- how much the plans are estimated to cost and
- how the city is financing its plans.
The budget of 2022 was approved by the Vantaa city council on the 13th of December, 2021.
After a budget has been made, the city monitors how the goals and plans specified on a budget are achieved. The budget is regularly evaluated. Finally, the financial statements of a previous fiscal year are presented to the city council.