Estimate 2025
With total expenses of CHF 93.8 million and total income of CHF 81.1 million, the income statement shows an expense surplus of CHF 12.7 million. The municipal council has approved the 2025 budget.
Operating result
In terms of operating income, the municipality of Vaduz is budgeting a total of CHF 78.6 million. This corresponds to an increase of around 2.8% compared to the 2024 budget. Income from taxes and duties amounting to CHF 64.7 million is CHF 5.5 million higher than the estimate for the current year. The 2025 budget no longer includes income from value-added levies. On the expenditure side, the municipality of Vaduz is expecting an increase of just under 12.1 percent to CHF 93.0 million (including depreciation on financial and administrative assets of CHF 13.9 million). This increase is mainly due to operating expenses (up CHF 5.8 million), rising personnel costs and higher depreciation and amortization. The development in these areas shows that decisions made in the past are now having an impact on the current operating result in the form of follow-up costs.
The result from operating activities shows a loss of CHF 14.4 million. This means that the operating result is CHF 7.9 million lower than the 2024 budget.
Financial result
The financial result of CHF 1.7 million includes the entire cost of financial investments. This is offset only by income such as interest and dividends. Realized and unrealized foreign exchange and market gains and losses are not budgeted. The result deviates by CHF 0.2 million from the current estimate.
Overall result
The operating result of CHF -14.4 million, together with the financial result of CHF 1.7 million, results in an expense surplus of CHF 12.7 million in the income statement.
Investment statement
The gross investment volume in the coming year amounts to CHF 30.5 million (excluding capitalizable expenditure of CHF 4.6 million on properties held as financial assets) and thus differs only marginally from the 2024 budget (CHF 31.2 million). After deducting the forecast investment income of CHF 0.4 million, net investments of CHF 30.1 million are budgeted for 2025. The main focus is on the new fire station, the new Spoerry Areal solar folding roof, the expansion and conversion work at the Riethof farm and various civil engineering projects. Plans are also being initiated in the area of leisure and town center development. The self-financing funds show a negative value. The difference (additional expenditure on the overall account) of CHF 32.6 million will be financed from cash and cash equivalents in the financial assets or by reducing liquidity reserves. The level of existing liquidity reserves allows this reduction without further ado.
In addition to the municipal council's approval of the 2025 budget, the 2025 municipal tax surcharge was also discussed. Based on the stable financial situation, this will remain unchanged at 150%.
"The financial planning of the municipality of Vaduz also anticipates negative results in the coming years. This is due, for example, to the cost trend in operating expenses, such as building maintenance, services and energy costs, horizontal financial equalization and follow-up costs from investments. It is the declared aim of the municipality to cover operating costs with operating income. For this reason, financial planning is analyzed in detail on an ongoing basis so that appropriate measures can be taken to achieve this goal. Despite the budgeted expenditure surplus, the municipality of Vaduz remains on a stable financial footing," summarizes Mayor Florian Meier.
