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Annual Report Structure The Capital of Scandinavia Annual Report Structure Target groups here on the City’s financial targets, the tion is divided by operational area targets The City of Stockholm’s Annual Report gives Municipal Group’s investing activities and where activities done during the year and you an overview of the City’s finances and employees. outcomes of indicators are presented. operations during 2016. The Annual Report is produced by the City of Stockholm’s City How the City is governed Economic and financial analysis and annual Executive Office and is intended for politi- Under this section, you can read about the financial statements cians, Stockholmers, users, employees and Municipal Group’s governance, the Commis- The Annual Report is concluded with an eco- other stakeholders. sion for a Socially Sustainable Stockholm, nomic and financial analysis of the results the City’s international work and the City’s for the entire Municipal Group and the City. Administration Report quality assurance work. The income statement, balance sheet and The Administration Report presents the past cash flow statement with associated notes year in accordance with Chapter 4 of the City Council orientation goals are included. Local Government Accounting Act. The first In the City of Stockholm’s budget, the City section summarises the year and provides a Council has established orientation goals, view of the surrounding world. The fulfilment targets for the operational areas, indicators of the City of Stockholm’s orientation goals and activities that together measure goal and the operational area targets are briefly attainment. This section describes how the presented. There is also a brief information City met the City Council’s goals. The descrip- The City of Stockholm’s Annual Report 2016 Cover photo Pär Olsson Inside cover photo Simon Gate Production City Executive Office’s Finance Department in collaboration with Blomquist Contents 4 Foreword – A Stockholm for Everyone 6 Administration Report 7 Important events and decisions during the year 8 Stockholm in the world 9 General economic analysis 12 Organisation and governance 13 The City Executive Board’s supervisory duty 26 How the City is governed 27 The Municipal Group’s governance 33 The Commission for a Socially Sustainable Stockholm 34 The City’s international work 36 The City’s quality improvement efforts – quality for Stockholmers 39 City Council orientation goals 40 A Stockholm that stands united 58 Eco-smart Stockholm 68 Financially sustainable Stockholm 80 Democratically sustainable Stockholm 94 Economic and financial analysis 95 About the Municipal Group 97 About the City 104 Annual Financial Statements 105 Income Statement 106 Balance Sheet 107 Cash-flow statement 108 Accounting principles 111 Notes to the income statement 114 Notes to the balance sheet 123 Notes to the cash flow statement 126 Auditor's report 127 Committees, companies and foundations 130 Five-year summary The City of Stockholm’s Annual Report 2016 3 A Stockholm for Everyone Stockholm is a fantastic city. Based on the vision of a Stockholm for everyone, ambitious work is under way to realise the vision. Stockholm is growing and the number of Stockholmers is increasing. By the end of 2016, the city had a total of 935,619 residents, an increase by 12,103 people. rder in the finances unemployment decreased among both those and with special help, programmes were is fundamental in born in Sweden and those born abroad, but conducted that involved 3,000 participants order for welfare to there are still differences in unemployment on the topic Eurovision Song Contest in your maintain good quality between the groups. The efforts begun on neighbourhood. More people are discov- and for the operations education and targeted intervention will ering Stockholm and the tourism industry to be able to be devel- be important to get Stockholmers who are broke records with 8.8 million guest nights. oped. Stockholm’s far from the labour market into work. The Most visits came from Germany, the UK Oeconomy is continuing to grow and the City Council’s target of 8,000 young people and the U.S. economy in the Stockholm region is strong. receiving summer jobs under the direction The City’s surplus shows that the City not of the City was achieved and 8,150 young only has balanced finances, but also sound people received a summer job in 2016. » The planning and building finances. of new homes is historically Stockholm receives good ratings and ranks high and one must look back The planning and building of new homes is highly in international rankings, which historically high and one must look back to shows that the City has the right focus and to the years of the million home the years of the million home programmes is developing in a positive direction. It is programmes to see a similar to see a similar level in the building rate. pleasing that our city distinguishes itself level in the building rate. There are good conditions to achieve the among other cities with regard to environ- « goal of building 40,000 homes between mental sustainability, innovative capacity 2014 and 2020. and digital development. All children and young people in Stock- holm, regardless of where in the City they Self-sufficiency is fundamental in order for 25,000 new companies were founded in live or what background they have, should people to be able to be independent and Stockholm during the year, an increase of receive a good and equal education. The realise their dreams. During the year, grow- 2,000 compared with the previous year. The City Council’s decision to offer children of ing numbers of Stockholmers found a job work of strengthen local business and devel- those on parental leave the opportunity to and unemployment decreased in Stockholm. oping Stockholm as a business-friendly city go to pre-school full time is an important The number of openly unemployed people remains a high priority. The City adopted reform to benefit the children’s learning and decreased and unemployment among young a new programme for procurement and development. With greater continuity in the people continued to drop and was at a lower purchasing where conditions similar to those pedagogical context, conditions are created level than Sweden as a whole. The Jobbtorg in collective agreements are required and to give all children in Stockholm equal and programmes and outreach work played a Stockholm is now a Fairtrade City. positive conditions in childhood. major role for the unemployed to find work. Cultural events are of major significance to The open pre-school plays an important The number of people who are in need of bring the City to life. In 2016, Stockholm promotional and preventive function with financial assistance decreased and is at the hosted the Eurovision Song Contest, which the aim of supporting guardians at home lowest level in 50 years. The City’s cost of became a matter for the whole City. Organ- and offering open activities. Among many financial assistance also fell in 2016. The isations and young people were engaged activities during the year were the introduc- 4 The City of Stockholm’s Annual Report 2016 tion pre-school, parental training and pure immigrants. During the year, a total of 2,436 » The work for a sustainable societal information on how the Swedish newly arrived immigrants were allocated to city is continuing and the City society works. the City. To handle the City’s commitment, Council made several decisions various housing solutions were used. Former Growing numbers of children are achieving service blocks, newly built prefabricated during the year and adopted the proficiency targets and school results homes, subletting of rooms and apartments programmes that aim to raise improved compared with 2015. Improve- by private individuals and emergency ments took place in all grading measure- housing are examples of the various housing the level of the City’s ambitions ments and school students in year 9 who solutions. The number of unaccompanied in the environmental efforts.« attend municipal compulsory schools have refugee minors who came to Stockholm in higher results compared with other major 2016 continued to be high, but was lower cities. The fact that national exams and interna- than 2015. Work has been done in order for tional studies show that Stockholm’s students’ the children to receive good placements and levels of knowledge in mathematics have for them to be able to participate in activities In 2016, the Sustainability Commission increased provides a clear indication that to prepare them for school. implemented and prepared reports in eight initiatives conducted during the year provide deepening areas. Some of the topics the results. However, differences exist in results The work for a sustainable city is continuing reports addressed are the effects of school between schools and between boys and girls. and the City Council made several decisions segregation, the possibility of establishing Continued initiatives in schools are impor- during the year and adopted programmes oneself in the labour market for people with tant for all children and young people to be that aim to raise the level of the City’s little eduction, the role of the comprehensive able to achieve the knowledge objectives. ambitions in the environmental efforts. The plan for social sustainability and the City’s implementation decision on Högdalen’s sort- collaboration with civil society. A decision In the next few years, the number of young ing facility, the Environmental Programme was made on guidelines for the City’s social people in upper-secondary school age will 2016-2019 and the Strategy for a Fossil-free investment fund and the start-up work came increase and continued investments to create Stockholm 2040 are a few examples.
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