Il bilancio del Comune di Roma:
la verità contro le mistificazioni
• E’ in corso una campagna mistificatoria e strumentale sulla gestione del bilancio del Comune di Roma fra il 2001 e il 2007
• Proviamo a discernere la verità dalle mistificazioni
Perché il Comune di Roma ha un problema di liquidità?
• Why the Lazio Region in crisis for the regional health hidden in the accumulated deficit between 2000 and 2005 during the administration Storace, does not pay for two years due to the contributions that the City of Rome, and companies in the public transport is
• These, as certified by the General Accounting Office (RGS) in the report requested by the Mayor Alemanno (pg. 20 and 22), 268 million in contributions in various sectors (home, school, service, etc..) and 738 million of contributions for companies in the local public transport. Total 1.006 million
• The Capitol had to anticipate these amounts. Otherwise, the city would stop. Literally stop: Buses, trams, le metropolitane
L'eredità della giunta Storace
• Il debito accumulato sulla sanità pari a 10,5 miliardi di euro al 1 gennaio 2006
• Una cifra, ora oggetto del piano di rientro concordato con il ministero del Tesoro, che è stata accertata tutta insieme, approvando in un colpo solo i bilanci delle asl dal 2001 al 2005
• La non applicazione delle più elementari regole di contabilità e controllo continua a produrre ripercussioni gravi e determinava un disavanzo annuale di oltre 2 miliardi di euro, ora quasi dimezzato.
Perché il problema di liquidità è peggiorato negli ultimi mesi?
• Perché la Regione Lazio continua a non pagare
• Perché lo Stato tarda a trasferire 257 milioni dovuti al Comune (relazione RGS, pag. 20)
• Perché si è ridotto il gettito Ici riscosso autonomamente dal Comune
Che effetto ha l’abolizione dell’Ici prima casa per il Comune?
• L’attuazione della promessa elettorale del PDL comporta per il Campidoglio una perdita di gettito di quasi 200 milioni sulla rata di giugno e di altrettanti su quella di dicembre
• I trasferimenti compensativi da parte dello Stato non arriveranno prima dell’autunno e saranno di dimensione insufficiente
• Non terranno conto del lavoro di riclassificazione catastale svolto per fare emergere l’elusione Ici by the owners of fine homes in the historic center, Piazza Navona, Piazza di Spagna), with a loss of at least 30 million
How much is the debt of the City of Rome? • A
6.874 billion, as reported in official documents of the City of Rome and as certified by the RGS (p. 18) and by rating agencies (see the interview of the public sector responsible for Europe by Standard and Poor's La Stampa, 21 June)
• This figure was assembled one of the most blatant distortion of information campaigns on the part of Berlusconi and the right that Italian public opinion has suffered in recent years
Debt: we seek to understand really what we're talking about, in six moves
• What is the debt
• How has at Rome compared to the total national investment
• For which you used the new debt over the past seven years
• How are put the other cities, notably Milan
• How has accumulated over time, in a very long time, the debt of the City of Rome
• What would be its future evolution, in relation to investments in progress on the new lines Metro
What is debt?
• It is not a "hole", that is not a deficit. E’ uno stock che si accumula anno dopo anno in relazione ai mutui e ai titoli che l’amministrazione pubblica contrae e che dovrà ripagare in futuro
• In Italia, alla fine del 2007, è pari a 1.596,7 miliardi di euro
• Quando parliamo del debito del Comune di Roma, quindi, parliamo di una quota del debito complessivo delle pubbliche amministrazioni italiane pari allo 0,43%
Qual’è la storia del debito del Comune di Roma?
• Si è accumulato per effetto del ripiano dei deficit del trasporto pubblico durante gli anni ’80 e ’90
• La relazione RGS assevera che il 48% del debito del Comune (tutto interamente contratto prima del 2001), € 3.1 billion, depends on this factor (p. 16)
• In fact, for about twenty years the City has contracted loans to cover the deficit of the transport, increasingly over time: from 200 to about 400 billion of the old minted each year
• Since 2001 this no longer happens, the accounts of Roman public transport were no longer covered by loans, new debt was only for investment
What has increased the debt of the City of Rome in recent years?
• In 2001, the debt of the City was 6.021 billion
• The increase between 2001 and 2007, then of 853 million, or 14.2%, a smaller increase than the rate of inflation. The debt of the municipality and the national GDP has declined from 0.48% to 0.45%
• The debt of the Municipality of Rome has increased less than the national one, of course, not only in absolute terms but also as a percentage. At the same time, the national debt has increased 1357.3000000000-1596.7000000000: +17.6%.
• In the years of the Berlusconi government (2001-2006), for the record, the Italian public debt has increased by 218.3 billion
• The City of Rome contributed to this increase to 0.4% (853 million out of 218, 3 billion), and we are able to describe all the work we've done.
• Expect Mr Berlusconi sets out what he did with the remaining 99.6%
2002 -2006: the cuts in Rome with Berlusconi and Minister Alemanno
• The financial situation of the municipality of Rome would certainly be better if, with the right-wing governments in the state and in the region between 2001 and 2006, Rome had not suffered a long amount of cuts and cuts: the sum of current transfers of State and the City Region has decreased from 1.231 million in 2002 to 1,027 in 2006
• Law 396 for Roma Capitale, reached 185 million in 2003, has gradually been cut in (103 million in 2004, 80 in 2005, 70 in 2006), to be restored by the Prodi government in 2007 with 595 million in 2007-2009. Without the cuts of the period 2004-2006, arrived in Rome would be 300 million more for the city's investment
• Without the cuts in funding for capital Rome, the city could reduce its debt of 300 million
What are served funding triggered by the junta Veltroni between 2001 and 2007? • A
make investments for the city
• Next to the use of financial markets between 2001 and 2007, the Municipality has set up many more resources than the debt to finance investment
• In particular, investments were allocated to two, 1 billion of its revenue (concession fees, proceeds from asset sales, waste management)
• In the future we must continue on this path
Some of the major investment projects completed in 7 years of government in Rome Auditorium
• • • Car
Nuova Fiera di Roma
• North Loop West
• Release of Tintoretto •
Sottovia Tor Vergata
• 2123 new bus fleet age halved
• 39 new train line: fully renovated park trains
• 13,600 new lights
• 90 refurbished schools, new schools, 8, 9 under construction
yards of new subway lines
• The most important shipyards open during Veltroni administration are those of the new metropolitan line B1, serving an area of \u200b\u200balmost 400 000 inhabitants, and the line C, which is also serving a city of 400 000 inhabitants
• In both sites, Piazza Ionian Piazzale Bologna to and from Piazza San Giovanni to Alexandria, are running two moles are digging
• The new mayor Alemanno has gone to inaugurate the work of one of these sites, issuing statements enthusiastic
• Look, these are the two " holes ", the real ones, which the junta has left Veltroni
debt to Rome and Milan
• In Rome, the city debt is 6.874 billion at the end 2007. Milan is 3.703 billion (Standard and Poors)
• In Rome, the population is 2,705,603, 1,303,437
in Milan • The debt per capita in Rome is € 2540, € 2840 in Milan.
• Between 2001 and 2007, the debt to Rome has increased by 14.4% and 18.2%
Milan • Debt service (interest plus amortization) costs to the City of Rome on 13.9% of total revenue, to Milan costs 15.5% (source: Standard and Poors)
• Instead of lynchings against politicians who ruled Rome, it would be appropriate to reflect on the difficulties that all the major Italian metropolitan areas to fund the investment needed to improve infrastructure, especially those of public transport and environmentally sustainable?
How were pushed up the debt numbers
• The outstanding debt, amounting to 6.874 billion euro, were added to € 1.277 billion related to credit lines activated for investment, particularly in the metropolitan
• It is incorrect to add up the debt because credit facilities are under contract but not yet actually used
If you used the same method, the state's debt ...
• If you consider all the charges laid for the future of the State debt will far exceed the already high threshold of 104% GDP
• For example, if one considers the charges provided for pensions to be paid in the future the debt is closer to 1000% of GDP
Standard and Poors: only outstanding debt
• This explains Myriam Fernandez de Heredia, head S & P for the public sector in Europe, funding and not yet used "we can not regard them as outstanding debt." The 6.874 billion at the end of 2007, "are those in depreciation", "we do not take account of those under contract but not yet in depreciation that we analyze in the context of our investment projections for the coming years."
When it comes to data 'Hidden'
• They say the false: all data must be properly reported in the financial statements were entered in the corresponding places
• The data were already known to the Standard and Poors analysts
: information that we already had a
• new Myriam Fernandez, head of S & P for the public sector in Europe makes it clear that the report of the General Accounting Office "does not give us no new information", "is data that we had already considered
• Rome has the same rating, A +, the Italian Republic
• Can we really talk of hidden distress?
What future for the debt the City? (1)
• Everything depends on the extent and manner of financing the investment plan in progress
• Look for sites already open. They include the B1, the C line, in addition to other works undertaken for emergency traffic (parking, interchanges and corridors of mobility), which had a high speed implementation with special powers that the Mayor of Rome obtained in December 2006 by the Prodi government
• To start these works were not yet open lines of credit used to 1,277,000,000
• This is what the report of RGS defines debt as "contract" but not yet disbursed (P. 17)
What future for the debt of the City? (2)
• If and only if, the City will not find other sources of financing, the completion of these works will in the coming years, the debt of the City to 8.151 billion (6.874 + 1.277)
• The issue is well known. E 'was examined in the DPF of the Municipality of September 2007 (p. 112-113). E 'was also examined by rating agencies. See, for example, the Report on Rome compiled by S & P on January 8, 2008. The same report of RGS, correctly, when he talks about the sustainability of municipal finances, always adds the phrase "policy change" (p. 33)
• Here, in fact: we need a policy. The previous Government in the proposed DPF: alienation, exploitation, increased contributions from state and region, improve the operating profit of the budget
• Based on this address, for example, has approved a project for the urban area of \u200b\u200bpublic-Collatino Togliatti (ex Meat Centre), which, if realized, could bring 200 million to municipal coffers. Similar operations could be undertaken on public areas of Pietralata and Ostia, as well as areas and buildings that the state wants to divest in Rome, sharing the proceeds with the City
Potential off-balance sheet debts: pay attention to misinformation
• Per alcune settimane gli uffici capitolini sono stati chiamati a un “redde rationem” su tutti i possibili debiti che potrebbero emergere in futuro sui contratti e procedimenti degli ultimi anni e su quelli in corso
• L’intento è chiaro: gonfiare il più possibile le cifre da chiedere al Governo, addebitandole all’amministrazione uscente
• Gli effetti possono essere disastrosi: alla lampante mistificazione politica, si aggiunge il messaggio che chiunque voglia chieder soldi al Comune, questo è il momento giusto per farlo. Con buona pace di ogni buon diritto dell’amministrazione a contraddire e a resistere ai “postulanti”, ovvero ai soggetti già entrati in contenzioso • RGS
inspectors are limited in their report to take note of the disclosure by municipal offices, to make abundant use of conditional and take this as "merely indicative" (p. 23)
Expropriations
• There
an historic litigation against the City by the owners of the areas expropriated in the last thirty years. This is part of ancient, that originated in the '70s, including the realization of the great historic plans for affordable housing and people started to Petroselli. Consider that a process is still going on at Tor Bella Monaca
• It 's impossible, however, ex ante encrypt the "value" delle cause in corso: non è detto che il Comune perda sempre, sono possibili transazioni, i tempi di maturazione delle sentenze sono incerti
• Negli anni passati, il bilancio di previsione veniva sempre dotato di un “fondo rischi” per queste spese straordinarie, per alcune decine di milioni di euro, che eventualmente (e dolorosamente) veniva rimpinguato nel corso dell’anno, se necessario
• Questa scelta è assolutamente legittima dal punto di vista giuscontabile, e anzi è molto più sensata dell’idea che oggi prevarrebbe di “metter da parte” una montagna di soldi per coprire future potenziali sentenze incerte nel “quantum” e nei tempi
Non è true that it lacks a plan to finance the new social housing and facilitated
• In the list given to the inspectors of the RGS fit as "missing resources" are those required to activate the 32 area plans already undertaken by the City Council for the new affordable housing and popular. Still expropriation. Still "income" to be welded
• Too bad this is a gross error
• In fact, the financing plan of this very important speech there, and you just need to activate it (ie work). Should be established regional contributions of about 60 million a year for five years. And existing homes are sold to families who voluntarily opt for purchase. 7,500 families have already said available. It may thus have at least 350 to 400 million.
• If someone in the management and commissioner in the first month and a half of the new administration Alemanno, has made the implementation of the plan only thinking about the costs, enabling the procedures of expropriation, and forgetting to work to ensure the resources provided input, then that someone was wrong. And that someone is certainly not the former Mayor
• The financial plan is, and must quickly implement it. It 's easy, if not, exposing themselves to criticism that the City of Rome, while cash in the state, does its part and all claims by "pants"
credits of subsidiary companies (1)
• The AMA has already approved a sum of 90 million with a resolution dated March 2007 and with payment spread over three years. Compared with other claims from the assessments made by the offices during the past administration was correct only part of the claim, for about € 60-70 million, almost all relating to services rendered prior to 2004-2005, including the Jubilee
of 2000 • These amounts should not be confused with the trade credit Ama holds in respect of its customers defaulted on payment of the waste fee (mainly governments and enterprises)
• Concerning transportation companies, claims to be recognized are those related to the increased fuel prices and some smaller parties on maintenance and facilities.
• For the record, the previous administration had planned the operation Collatino-Togliatti, an estimated 200 million euro, with the aim to finance the recapitalization of one hand loves the other and their investment on public transport
credits of subsidiary companies (2)
• The actual assessments converge on a figure of about 150 and 200 million over the period 2000-2007, depending on whether you include the 40 million related to the sanctions of the auxiliaries' Atac, that the City is charged depending on the actual and the company anticipates it would in fact, that so far the City has decided not to grant
• Remember that the amount of service contracts in place with regard to the transport He loves and is about 1 billion annually. So, on a volume of 8 billion contract (8 years to 1 billion), the "suffering", or "contractual disputes" would be worth between 1, 8% and 2.5%%! Share a perfectly normal, possibly spread over a two to three years.
• In short, we are talking about routine maintenance and management of large contracts, administrative oversight and certainly not!
Contenzioso con Ater
• Il contenzioso Ici con l’Ater vede il Comune vantare un credito di più di 500 milioni, per il quale il concessionario delle imposte ha già imboccato la strada delle procedure esecutive
• La sezione autonomie della Corte dei Conti del Lazio, la stessa che ha mandato al Sindaco Alemanno una recente lettera ampiamente pubblicizzata dai giornali, ha sollecitato il Comune a lavorare sodo per la riscossione di questo credito. Cosa che il Comune ha fatto dando il via libera, già durante la precedente amministrazione, alle azioni esecutive oggi in atto
• La questione sarebbe facilmente risolvibile se solo la Regione garantisse la stessa Ater per un’operazione finanziaria from "smear" in the long term. The City has proposed this solution several times, but neither the council nor Storace, so far, Marrazzo that have gone this way.
How much municipal debt?
• The cost of debt (the ratio of interest payments and nominal amount of the debt) at end-April amounted to 4.67%, thus similar to that of ten-year BTP
• The rate structure is - similar to that of Status - 70% indexed to a fixed rate and interest payments implies a low volatility even in the presence of significant rate increases in the course (if the entire yield curve of 100 basis points immediately ascended, spending interest would increase by only 13 million)
• The average annual total costs decreased by about 140 million, representing a value in relation to revenue (13.9%) less than 15.5% as the City of Milan
• Charges annual show, after the "step" in 2009, a time profile of decreasing
Dynamics
future financial burdens
• The debt burden is reduced in the medium term
• The higher peak would come back to the natural expiration of the previous
Warning We're not saying that the budget of the Municipality of Rome has no major problems
These problems we know them well, and we have managed for many years without feeling sorry for himself and without scandal at
are structural problems arising:
The historical inequality or disadvantage to the Rome / fees in the amount of transfers per capita, amounting to € 286 per inhabitant in 2006 in Rome against 321 to Milan. If the government of which he was part Alemanno had equalized Rome and Milan in 2001, the City would have been entitled to about 100 million more a year for six years, then about 600 million. Veltroni, in 2007, won by the Prodi government is a good step towards this equalization, without resorting to extraordinary measures
or contraction of transfers, dropped from 1,231 to 990 between 2002 and 2007
or the burden of a very high stock of debt
Because of the difficulties have increased between 2007 and 2008?
as was foreseen by the last two municipal DPF, and especially that of September 2007, there were five new factors of difficulty:
or financial crisis of the Lazio Region
or the new cycle of rising interest rates or
The increase in oil prices, and thus the cost of transport fuel or
The massive investment plan being implemented or
Abolition Ici first home
What economic and financial policy to Rome?
• The real point is then: what is the political program della nuova Giunta Comunale? E’ chiaro che Alemanno vuole chiedere soldi allo Stato, e che per far questo ha gonfiato le cifre delle difficoltà finanziarie del Comune, che pure esistono
• Ha anche intenzione, oltre a questo, di assumersi qualche responsabilità di governo? Ad esempio, di procedere con le valorizzazioni delle aree pubbliche, di vendere le case comunali alle famiglie che volontariamente ne fanno richiesta, di trasformare il diritto di superficie in diritto di proprietà, di mantenere una politica di attenta “manutenzione” delle entrate?
• E’ questo che tutti aspettiamo, a partire dalle agenzie di rating. Un programma, progetti, idee. A meno che l’unica cosa a cui Alemanno think is going to close the yards, not just the White Night. With the result of off Rome and its economic and civil development of the last fifteen years.
