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Document Sample
December 2008
Finance Bureau of the City of Nagoya
Contact:
Funds Division, Finance Department,
Finance Bureau of the City of Nagoya
Tel: 052-972-2309
Fax: 052-972-4107
E-mail: a2309@zaisei.city.nagoya.lg.jp
Table of Contents
I Present Situation of Nagoya City III Challenges for Nagoya City and Handling Thereof
Economic Magnitude of Nagoya City…………………..1 Bond Redemption Fund (for Bullet Redemption) …………………12
Present Situation of Nagoya City……………………….2 Balance of Payments of Public Enterprises (1) …………………. ..13
Improving Financial Conditions Balance of Payments of Public Enterprises (2) …………………. ..14
II
Redemption Plan of Nagoya Express Authority …………………. 15
City Tax Revenues ………………………………………3
Value of Land Held by Nagoya City Land
Financial Indicators ………………………………………4
Development Corporation …………………. ……………………….16
Soundness Determination Ratios and Fund Shortage
Compensation-free Advance Repayment of Public Funds……….17
Ratios………………………………………………………5
IV Healthier Public Finance
Acquisition of Rating ……………………………………..6
Establishment of a New Finance Health Plan …………………. …18
Comparison of Financial Conditions of Cities (1)……...7
Approaches Made under the New Finance Health Plan………….19
Comparison of Financial Conditions of Cities (2) ……8 Forecast of Outstanding City Bonds in General Accounts………...20
Outstanding City Bonds V Issue of City Bonds
(General Accounts) …………………. ………………….9 Past Issues of Public Offering Bonds and Bank
Outstanding City Bonds Acceptance Bonds …………………. ………………………………..21
(All Accounts) …………………. ……………………….10 Plan for Issue of Public Offering Bonds in Fiscal Year 2008……...22
Primary Balance …………………. ……………………11
Economic Magnitude of Nagoya City
Population 2008
Populations of Major Cities (as of January 2008)
The population of the city was over 2.239
(Ten thousand people)
million as of January 2008, up 0.6% from
the previous year. 2.24 million , the same size as
400 the population of Paris
• The population has increased for 12
consecutive years since January 1996 300
when it was slightly over 2,153,000, 200
and the total increase during this period
was approximately 86,000. 100
• The city functions as a central city 0
N ago ya
Sap p o ro
Se n d ai
Sai tama
C h ib a
Kaw asaki
Yo ko h ama
N i i gata
Sh i zu o ka
H amamatsu
Kyo to
O saka
Sakai
Ko b e
H i ro sh i ma
Ki takyu sh u
Fu ku o ka
receiving a large inflow of people from
surrounding areas, with the daytime
population amounting to over 2,516,000
(National Census in 2005) and the ratio GDP of Major Cities (Fiscal Year 2004)
of daytime population to sleeping
population being 114.7%. (Trillion yen)
12.0167 trillion yen, the
same magnitude as
25
Gross Domestic Product of the City 20 GDP of Singapore
The city recorded GDP of 12.0167 trillion 15
10
yen and nominal economic growth rate of 5
2.3% in fiscal year 2004, which was the first 0
Nagoya
Sapporo
Sendai
Chiba
Kawasaki
Yokohama
Kyoto
Osaka
Kobe
Kitakyushu
Fukuoka
positive figure in the past six years. The real
economic growth rate showed a sharp
increase of 3.3%.
The city’s GDP accounts for approximately
2.4% of the national GDP.
*Calculation has not been made for Saitama City, Niigata City, Shizuoka City, Hamamatsu
City, Sakai City and Hiroshima City for fiscal year 2004.
1
Present Situation of Nagoya City
Fluctuation Rate in Benchmark Commercial Land Prices
According to the research on land prices in % 17.5
20 National Average
prefectures as of July 2008, land prices of the 9.6 Nagoya City
commercial district in the city have continued to 10
4.0
increase, but the appreciation rate has become 0
-2.1 1.0 -0.8
significantly lower. Such slowdown seems to have -10
been caused by the decreasing demand owing to a 2006 2007 2008 Year
sluggish real estate market and other factors.
However, the appreciation rate still remains high in Effective Ratio of Job Offers to Applicants（As of July in Each Year）
Year）
comparison with the national average.
2.5 (Times) 2.11 2.28
1.92
2.0
The city has maintained a high level of 1.5 1.09 1.06
employment with the effective ratio of job offers to 1.0
0.89
applicants being over twice the national average, 0.5
although it is lower than the previous year in 0.0
connection with the economic slowdown. 2006 2007 2008
National Average Nagoya City
Year
The annual product sales amount per capita also
significantly exceeded the national average, and Annual Product Sales Amount per Capita（Commercial Statistics）
Statistics）
the pace of increase between fiscal year 2003 and (Thousand yen)
fiscal year 2006 also significantly surpassed the
national average (Nagoya City: +7.8%; national 15,000 12,579 13,556
average: +1.2%). 10,000
4,217 4,268
5,000
0
2003 2006 Fiscal
National Average Nagoya City Year
2
City Tax Revenues
(Hundred million yen)
6,000 5,289
5,107 5,218 5,165
5,014 4,966 4,805 4,952
4,806 4,689 4,735
5,000 4,568 4,611
4,000
3,000
2,000
1,000
0 Fiscal
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Year
Individual Resident Tax Corporate Resident Tax Fixed Asset Tax Other Taxes
* Figures for the years up to fiscal year 2007 are shown in amounts after settlement, while the figure for fiscal year 2008 is in the initial budget
amount.
Although city tax revenues were on a downward trend after peaking in fiscal year 1997, they turned upward in fiscal year
2004 because of the economic recovery, and since then they have been increasing at a slow rate. The city expects to
receive tax revenues amounting to 528.9 billion yen in fiscal year 2008.
3
Financial Indicators
Ordinary Balance Ratio The ordinary balance ratio indicates the extent to which
city tax, local grant tax and other general revenues
% annually and ordinarily received are allocated to
100 97.2 personnel expenditure, social assistance expenditure,
94.8 95.6 95.3 94.7
93.0 bond expenditure and other ordinary expenditures
95 91.2
88.8 89.9 88.9 regularly incurred.
90 The ordinary balance ratio has gone up as a result of
82.9 additional issue of municipal bonds to promote local
85
independent businesses in response to several phases
80 of national economic packages following the collapse of
75 the inflated bubble economy. In fiscal year 2007, the
ratio went up by 2.5% as a result of a decrease in
97
98
99
00
01
02
03
04
05
06
07
ordinarily received general revenues primarily because
19
19
19
20
20
20
20
20
20
20
20
of a decrease in receipts of extraordinary revenue
Fiscal Year
support grant. The city will continue to make efforts to
reduce ordinary expenditures including a reduction in
personnel expenditure.
Financial Capability Index (on a Single-year Basis)
Single-
The financial capability index is calculated by dividing
1.2
the standard revenues from ordinary grant tax by the
1.1 1.059 standard expenditures. If the index is over 1, the city is
1.017 considered to have an adequate financial capacity to
0.974 0.991
1.0 0.947 0.941
0.925 0.935
0.947 carry out a standard financial management only with the
0.900 0.896 standard municipal tax revenue of the entity without
0.9 relying on local grant tax.
The city had been an entity receiving a standard grant
0.8 tax from fiscal year 1994 to fiscal year 2005, but has not
received a standard grant tax since 2006.
97
98
99
00
01
02
03
04
05
06
07
19
19
19
20
20
20
20
20
20
20
20
Fiscal Year
4
Soundness Determination Ratios and
Fund Shortage Ratios
Soundness Determination Ratios
Percentage for Financial
Early Strengthening
Category Description the City Reconstruction
Standard
(FY2007) Standard
Ratio of real deficit in general accounts and similar
Real Deficit Ratio - 11.25% 20%
accounts to standard fiscal scale
Consolidated Real Deficit
Ratio of real deficit in all accounts to standard fiscal scale - 16.25% 40% *
Ratio
Ratio of redemption proceeds and interest payable out of
Real Debt Expenditure
general accounts and similar accounts and expenses 14.1% 25% 35%
Ratio (Three-Year Average)
comparable thereto, to standard fiscal scale
Ratio of real debts payable out of general accounts and
similar accounts in the future including payment amount
Future Burden Ratio 230.4% 400%
estimated on the basis of outstanding municipal bonds and
other encumbrance, to standard fiscal scale
Fund Shortage Ratios
Ratio for the
Category Description Management Strengthening Standard
City (FY2007)
Hospital Business
Ratio of fund shortage of each publicly operated 18.1%
Account 20%
enterprise to the business size
Bus Business Account 60.7%
At settlement of accounts for fiscal year 2007, the city satisfied the prescribed standards for the soundness determination ratios. The city will
continue to manage public finance in a manner that will not pass a burden on to future generations and make efforts for further fiscal
soundness aiming to establish a sustainable and solid financial base.
The real debt expenditure ratio significantly improved from the previous fiscal year in connection with a change in the calculation method
(inclusion of part of urban planning tax in the redemption resources for municipal bonds applied to urban planning business) made as from the
fiscal year under review (went from 20.9% in FY2006 to 14.1% in FY2007).
Looking at the fund shortage ratios for publicly operated enterprises in the accounts for fiscal year 2007, the hospital business and the bus
business were undercapitalized.
* As a transitional measure, the standards for fiscal year 2008 and 2009, fiscal year 2010, and fiscal year 2011 are respectively set at 40%, 35% and 30%.
5
Acquisition of Rating
Moody’s rating
Aa1 (Stable)
BCA (Credit Capacity of Particular Autonomous Body): 4
* Tokyo Metropolitan Government: 3; Fukuoka Prefecture, Shizuoka Prefecture, Hamamatsu City, Fukuoka City,
Hiroshima Prefecture and Sakai City : 4; Kyoto City, Osaka City and Niigata Prefecture: 5
Solid basis for tax revenues and continuous improvement in regional economic activities
Continuous decrease in the total accounting debts as a result of various measures for
healthier public finance
Administrative and financial management through selection and concentration enabling
maintenance of the balance of payments
The city obtained the second highest rating among 21 ratings from Moody’s Investors Service
on November 7, 2007.
The high evaluation made by such a neutral third-party institution supports the judgment that
the debt redemption capacity of the city is extremely high.
6
Comparison of Financial Conditions of Cities (1)
In fiscal year 2007, the amount Comparison of City Tax Revenues, Outstanding City Bonds and
of outstanding bonds of the city Accounts)
Collection Ratio of Cities in Fiscal Year 2007 (Ordinary Accounts)
was approximately 3.4 times
the city tax revenues, which (Hundred million yen)
was the eighth lowest ratio (Times)
30,000 7.0
among ordinance-designated
cities and the second lowest
among the former five major 6.0
cities, showing the high debt 25,000
redemption capacity of the city.
5.0
In addition, the city has made 20,000
efforts to secure city tax 4.0
revenues, posting the highest
city tax collection ratio. 15,000
3.0
10,000
2.0
5,000
1.0
* Collection ratio:
A collection index which
shows the size of city tax 0
Collection 97.7 95.0 94.1 94.4 91.4 96.4 96.9 93.9 93.7 94.2 97.2 95.4 95.3 95.5 95.8 96.7 96.0
0.0
ratio (%)
revenues against the amount
Se ro
Ch a
Ni am
Sa
Ko
Fu u sh
Na
Sa a
Sa i
Ka
Yo sak
Sh
Ha oka
K y ma
O
Hi
Ki im
sa
ig
ro
ta
ku
nd
ka
be
ot ts u
ib
pp
ita
wa
ko i
izu
go
m
chargeable as city tax
at a
ky
ka
sh
a
o
a
ok
a
i
o
m
h
y
a
a
a
u
City Tax Revenues (100 million yen)
Outstanding City Bonds (100 million yen)
Ratio of Outstanding City Bonds to City Tax Revenues (Times)
7
Comparison of Financial Conditions of Cities (2)
Comparison of Ratio of Independent Financial Sources of Cities in Fiscal Year 2007
in The ratio of independent financial sources
is the ratio of the financial sources
% independently collectible by a local
75 municipal entity (including city tax, usage
71.2 71.0
69.9 69.6
70 charge and commissions) to the total
66.7
65
63.8 amount of revenues. Generally, a higher
62.6 61.1 61.5
60.9 ratio of independent financial sources
60 58.1 58.5 58.2
56.9 56.5 55.2 shows a more stable revenue structure and
55 54.6
a more solid financial base.
50
45 The ratio of independent financial sources
of the city was 71.2%, the highest among
Se o ro
Ch ma
Ni ham
Sa a
Ko i
Fu yu s
Na
Sa y a
Sa a i
Ka
Yo sa
Sh ta
Ha ok
Ky m
O
Hi
Ki h im
sa
ig
ordinance-designated cities, showing a
ro
ta
ku hu
nd
ka
be
ot ats
ib
pp
ita
wa
ko ki
izu
go
m a
a a
k a
k
s
a
o
a
ok
stable revenue structure and a solid
a
financial base of the city.
u
Comparison of Financial Capability Index (Three-Year Average) of Cities in Fiscal Year 2007
(Three-
The financial capability index is calculated
1.004 1.060
by dividing the standard revenues from
1.1 ordinary grant tax by the standard
1.022 1.016 0.980
1 0.911 expenditures. If the index is over 1, the city
0.903 0.929
is considered to have an adequate financial
0.9 0.830
0.835 0.799 0.794 capacity to carry out a standard financial
0.8 0.690 0.686 management only with the standard
0.681 0.704 0.720
0.7 municipal tax revenue of the entity without
relying on local grant tax.
0.6
0.5 The financial capability index (three-year
average) of the city was over 1, the highest
Na
Sa ya
Se oro
Sa i
Ch ma
Ka
Ni a m
Sh a
Ky m a
Os
Sa
Ko i
Hi
Ki h im
Fu ush
Yo sak
Ha oka
i ga a
ro
ta a
pp
nd
ita
wa
izu
o t t su
ka
be
ku u
go
iba
ak
ko i
after Kawasaki City.
ma
ky
s
o
t
ok
a
a
h
a
8
Outstanding City Bonds
(General Accounts)
(Hundred million yen)
20,000 19,009 18,757 18,396 18,148 17,846
17,879
18,000 17,217
16,284
16,000 15,369
14,794
14,043
14,000
12,088 13,046
12,000
10,000
8,000
6,000 11,313 12,090 12,946 13,651 14,163 14,874 15,447 15,537 16,301 15,844 15,308 14,914 14,536
4,000
2,000
0 Fiscal
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Year
Exceptional City Bonds (Tax Reduction Covering Bonds, Extraordinary Tax Revenue Covering Bonds, Extraordinary Financial Measure Bonds)
Ordinary City Bonds
• Figures for the years up to fiscal year 2007 are shown in amounts after settlement, while the figure for fiscal year 2008 is in the budget amount.
Although amounts of the bonds issued for the city university have been posted in general accounts since 2006, as a result of the transformation into an independent
administrative institution those amounts for fiscal year 2004 and fiscal year 2005 were transferred to general accounts in the above to make comparison easier.
Although outstanding city bonds had been increasing as a result of revenue-securing measures in connection with social capital improvements
and special tax reductions in response to several phases of national economic packages, they turned downward in fiscal year 2005 for the first
time in 46 years (first time since 1959) as a result of a restraint on the issue of city bonds by restraining expenses with an investment nature
and reviewing clerical work. And since then outstanding city bonds have decreased for four consecutive years.
9
Outstanding City Bonds
(All Accounts)
(Hundred million yen)
40,000
33,786 34,575 34,636 34,121 33,692
35,000 32,664 33,231
31,512 32,720
30,691
29,853
30,000 27,626 28,848
25,000
20,000
15,000
10,000
5,000
0
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Fiscal year
Corporate Accounts Special Accounts General Accounts
* Figures for the years up to fiscal year 2007 are shown in amounts after settlement while the figure for fiscal year 2008 is in the budget amount.
Although amounts of the bonds issued for the city university have been posted in general accounts since 2006, as a result of the
transformation into an independent administrative institution those amounts for fiscal year 2004 and fiscal year 2005 were
transferred to general accounts in the above to make comparison easier.
10
Primary Balance
General Account Primary Balance Primary balance is an index which
indicates benefits and burdens among
(Hundred million yen) different generations and is calculated
800 by the formula: (Revenue – Government
660 bond revenue) – (Expenditure –
605 632
600 Government bond expenditure).
488
400 316 If expenditure excluding government
208 bond expenditure is covered by revenue
200 excluding government bond revenue,
67 56 36 then there is a balanced primary
0 balance under which burdens and
-178
-48 benefits of the current generation are
-200 balanced.
-400 A negative primary balance means the
-381
current generation receives excessive
-600 administrative services compared with
their burdens, passing a huge burden on
-800 to future generations. The city has
recorded a positive figure since 2003,
-1,000 -893 and the margin has been increasing.
-1,068
-1,200
19
19
19
20
20
20
20
Fiscal * Figures for the years up to fiscal year 2007 are
95
97
99
01
03
05
07
shown in amounts after settlement while the
Year figure for fiscal year 2008 is in the budget
amount.
11
Bond Redemption Fund
(for Bullet Redemption)
Accounts)
Bond Redemption Fund (for Bullet Redemption) (in General Accounts)
(Hundred million yen)
1,800
1,600
1,400
1,200
1,000
800
600
400
200
0 Fiscal
Year
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Accumulation Reversal Balance as of the End of Fiscal Year
The amount of reversal was larger than that of the accumulation in fiscal year 2005 and fiscal year 2006 as a result of a decrease in the
amount of accumulation because of a recent restraint on issue of city bonds and an increase in reversal for the purpose of redemption of
matured city bonds which had been issued for public works in connection with economy-boosting measures since 1992. In fiscal year 2007,
however, the amount of accumulation surpassed that of reversal.
In order to ensure future redemption, the amount equivalent to 6% of the debts based on the bullet redemption system has been accumulated
in the bond redemption fund every year. Therefore, adequate reserves have been maintained in the fund, and redemption can be made
without any problem.
12
Balance of Payments of Public
Enterprises (1)
Balance of Payments (Transport Business)
(Hundred million yen)
250
150
50
-50
-150
-250
-350
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Fiscal
Year
Bus business Subway business
Looking at balance of payments in the transport businesses in fiscal year 2007, the subway business remained in the
red, but the bus business recorded a surplus consecutively from fiscal year 2006 although the surplus decreased
owing to the fact that no extraordinary profit in connection with land selling was posted.
Both of the businesses recorded an increase in profit from transport services primarily as a result of an increase in the
number of season-ticket holders.
The “Municipal Transportation Business Innovation Plan” was established in fiscal year 2005. It aimed to have the
bus business and subway business post a surplus in the current account by fiscal year 2010. The city will continue to
aim for such a surplus in both of these businesses.
13
Balance of Payments of Public
Enterprises (2)
Balance of Payments (Hospital Business, Water Supply Business, Industrial Water Supply Business and Sewerage Business)
Supply
(Hundred million yen)
(100 million yen)
30
20
10
0
-10
-20
-30
-40
-50
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Fiscal Year
Hospital Business Water Supply Business Industrial Water Supply Business Sew erage Business
Looking at the balance of payments in fiscal year 2007, the hospital business remained in the red, but the water supply business,
the industrial water supply business and the sewerage business continued to record a surplus.
The hospital business has been rapidly worsening, primarily because of a significant decrease in the number of patients caused
by a shortage of doctors and nurses. But the city aims to improve the current account balance pursuant to the “Reform Plan for
Nagoya Municipal Hospital (provisional title)” which will be established in the current fiscal year in accordance with the public
hospital reform guidelines published by the Ministry of Internal Affairs and Communications.
14
Redemption Plan of Nagoya Express Authority
(Ten billion yen) (Trillion yen)
27 1.8
料
金 償
24 1.6
Toll Income/Management Cost/Interest
収 還
入 21 1.4 準
・ 備
Outstanding Issues
管 18 1.2 金
理 ・
費 15 1.0 未
・ 償
12 0.8 還
利
息 残
9 0.6 高
（
百 6 0.4 （
億 兆
円 3 0.2 円
） ）
0 0.0
H15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 2033 2035 2037 2039
2003 2005 2007 2009 2011 2013 2015 2017 2019 2021 2023 2025 2027 2029 2031 45 47 49 51
Fiscal year
Management Cost Interest Toll Income Outstanding Issues
Nagoya Express Authority has established a plan to complete redemption over a period of 40 years commencing in
fiscal year 2000 and ending in fiscal year 2040. Although the amount of outstanding issues will increase up to fiscal
year 2009 because of the large investment amount, the plan is to decrease the amount thereafter owing to a stable toll
income, and the redemption will be completed in April 2040.
15
Value of Land Held by Nagoya City Land
Development Corporation
(Hundred million yen)
3,000
2,500
2,000
1,500
1,000
500
0
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Fiscal
year
Value of Land Held for 5 Years or More Value of Land Held for Less Than 5 Years
Nagoya City Land Development Corporation was designated as an organization requiring a healthier management as a land development
corporation by the Ministry of Internal Affair and Communications in fiscal year 2005. Pursuant to such designation, the corporation has carried
out an early redemption of land held for a long period.
While the value of land held is decreasing every year, the average period of land holding is becoming longer, particularly because repurchase
of land for park work has been delayed as a result of budget reduction in public works.
The second management improvement plan (fiscal year 2006 through fiscal year 2010) aims to decrease the value of land held to half the
value held as of the end of fiscal year 2005, and to decrease the ratio of land held for five years or more to not more than 80% as of the end of
fiscal year 2010.
16
Compensation-free Advance Repayment of
Public Funds
Purpose
The city will make advance repayment (without payment of compensation) of public funds (funds offered by the former
Trust Fund Bureau, the former Postal Life Insurance and Japan Finance Corporation for Municipal Enterprises)
bearing interest at 5% or above in order to promote fiscal soundness and improvement in management of publicly
operated enterprises.
Period of Fiscal year 2007 through fiscal year 2009 (fiscal year 2008 and 2009 with respect to funds
Implementation offered by the former Postal Life Insurance)
Amount of Advance Repayment
Amount of Advance Repayment Estimated Reduction in Interest
Estimated Reduction in Interest
110.8 billion yen ** The city will refinance part
19.9 billion yen
The city will refinance part
of the amount at a lower
of the amount at a lower
interest rate considering the
interest rate considering the
term to maturity.
term to maturity.
Fiscal year 2007: 44.7 billion yen Fiscal year 2007: 7.8 billion yen
Fiscal year 2008: 31.2 billion yen Fiscal year 2008: 5.1 billion yen
Fiscal year 2009: 34.9 billion yen Fiscal year 2009: 7.0 billion yen
* The figure of estimated reduction in interest for fiscal year 2007 indicates the actual reduction in interest payable in the future; and those for
fiscal year 2008 and 2009 respectively indicate reduction in interest in case of advance repayment and refinancing being made in respective
fiscal years.
* The figure of amount of advance payment for fiscal year 2007 indicates the actual amount; and those for fiscal year 2008 and 2009
respectively indicate estimated amounts.
17
Establishment of a New Finance Health Plan
Goals
To secure financial sources for a steady promotion of the “Nagoya New Century Plan 2010” and realization of a “Nagoya – A city its citizens feel proud of and
attached to”
To reflect effects of reform in public finance through reform of administrative and financial systems in conjunction with the “3rd Administrative and Financial
Reform Plan”
To mange public finance in a manner that does not to pass a burden on to future generations, and to establish a sustainable and solid financial base
Period of the Plan From fiscal year 2007 to fiscal year 2010
Measures for a Healthier Public Finance
Securing of
Securing of Appropriate Management of
Appropriate Management of
Review of Expenditures
Review of Expenditures
Revenues
Revenues Assets and Liabilities
Assets and Liabilities
Review of clerical works by such means as an administration evaluation
Improvement of the system Introduction of a new public
collection ratio of city tax accounting system
and other taxes Review of facilities based on opinions of society for a study on how to operate
public facilities
Restraint on issue of exceptional
Expansion and
Systematic management of facilities based on an asset management system city bonds and city bonds to secure
reinforcement of
financial sources
tax sources
Active use of private-sector vitality by such means as PFI and ESCO
Effective use of Systematic management of the number of personnel and restraint on salary Efficient fund-raising
assets held and other compensation
Restraint on financial expenditure to accounts of public enterprises and other
accounts
Further
equalization of
burden Efficient management of auxiliary organizations
18
Approaches Made under the New Finance
Health Plan
Securing of Revenues and Review of Expenditures
Amount of
Matter Efforts Numerical Targets by FY 2010
for FY 2008
Effects of approximately 3.0 billion yen by such means as improvement of
Improvement of the collection ratio of city tax and other taxes 0.03 billion yen
the city tax collection ratio by 0.5%
Securing of
Revenues
Effective use of assets held 1 billion yen Effects of approximately 1.4 billion yen
Further equalization of burden 0.3 billion yen Effects of approximately 1.1 billion yen
(Securing of financial sources by such means as issuing bonds to promote Issue of bonds for promotion of administrative reform or other similar action
(16.3 billion yen)
administrative reform) will not be made as a measure to secure financial sources.
1.3 billion yen
Total Effects of approximately 5.5 billion yen
(17.6 billion yen)
Review of clerical works by such means as an administration evaluation system
Review of Expenditures
Review of approximately 19.1 billion yen by such means as shifting of
Review of facilities based on opinions of society for a study on how to operate
5.9 billion yen clerical works in the number equivalent to 10% or more of the totals as of
public facilities
fiscal year 2005
Active use of private-sector vitality by such means as PFI and ESCO
Systematic management of the number of personnel and restraint on salary and
2.4 billion yen Review of approximately 10.0 billion yen
other compensations
Restraint on financial expenditure to accounts of public enterprises and other
0.7 billion yen Review of approximately 2.0 billion yen
accounts
Efficient management of auxiliary organizations 0.5 billion yen Review of approximately 2.0 billion yen
Total 9.5 billion yen Review of approximately 33.1 billion yen
Grand Total 10.8 billion yen Efforts of approximately 38.6 billion yen
(27.1 billion yen)
Appropriate Management of Assets and Liabilities
Amount of Efforts
Matter
for FY 2008
Decrease of 2.6 billion yen
In fiscal year 2010, no bond will be issued for promotion of administrative reform
(to 10.0 billion yen from 12.6 billion yen)
Outstanding city bonds will be decreased Decrease of 30.2 billion yen
19
Forecast of Outstanding City Bonds in General
Accounts
(Hundred million yen)
(Hundred million yen)
Amount of Issue/Amount of Redemption
2,000 18,500
18,148
1,800
17,846 17,675 18,000
Outstanding City Bonds
1,600 17,661
1,400 17,500
17,108
1,200 1,070 1,107 1,050 17,000
1,000 879 874 888 911
822 805
800 16,500
600 16,000
358
400
15,500
200
0 15,000
2007 2008 2009 2010 2011 Fiscal year
Amount of Issue Amount of Redemption
Outstanding City Bonds
Outstanding city bonds have decreased since fiscal year 2005 as a result of restraint on the amount of issue of city bonds by restraining
expenses with an investment nature and reviewing clerical works. And they are expected to continue to decrease in fiscal year 2008 and
thereafter by such means as restraint on issue of bonds for promotion of administrative reform.
* Figures for fiscal year 2007, fiscal year 2008 and thereafter are respectively shown in amounts after settlement, the initial budget amounts and the estimated
amounts.
20
Past Issues of Public Offering Bonds
Past Issues of Public Offering Bonds Amount of Public Offering Bonds
Past or Planned Issues ( Hundred million yen / year)
Year and Month of Amount of Term to (Hundred million yen)
name
Issue Issue Maturity
1600 1600
2006 Jun. 455th, 10 years 200 10 1,600
Jul. 2nd, 30 years 100 30
Jul. 4th, 20 years 100 20 300
Jul. 7th, 5 years 200 5 1,400 1350 1350
500 1300
Sep. 456th, 10 years 200 10 1260
100 150 100
Dec. 5th, 20 years 100 20 1,200
Dec. 457th, 10 years 200 10
500 200 200 200
2007 Mar. 458th, 10 years 200 10 400 100
Jun. 459th, 10 years 200 10
1,000
100
Jul. 6th, 20 years 100 20 200 200 200
Jul. 8th, 5 years 200 5 800 100 200
Sep. 460th, 10 years 200 10 200
Dec. 461th, 10 years 200 10 200
600
2008 Feb. 7th, 20 years 100 20 200
Mar. 3rd, 30 years 150 30
Mar. 462th,10 years 200 10 400 800 800 800
Jun. 463th, 10 years 200 10
700
560
Jul. 8th, 20 years 100 20 450
200
Jul. 9th, 5 years 100 5
Sep. 464th, 10 years 200 10
Dec. 465th, 10 years 200 10 0
2009 Mar. * 466th, 10 years 200 10 2003 2004 2005 2006 2007 2008 Fiscal year
* 200 20, 30 10-year bonds 5-year bonds 20-year bonds
To be determined 30-year bonds Jointly issued bonds
* 100 5
City resident bonds and Jointly issued bonds are excluded.
Items marked with an asterisk are planned issues. 21
Plan for Issue of Public Offering Bonds
in Fiscal Year 2008
Plan for Issue in Fiscal Year 2008
(Million yen)
Planned Monthly Plan for Issue
Category Amount
of Issue Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar.
5-year bonds 20,000 10,000 10,000
10-year bonds 80,000 20,000 20,000 20,000 20,000
Super-long-
30,000 10,000 20,000
term bonds
City resident
3,000 3,000
bonds
Total 133,000 20,000 20,000 20Y 20,000 3,000 20,000 20,000
Amount Issued in Fiscal Year 2007 (Reference Information)
(Million yen)
Planned Monthly Result for Issue
Category Amount
of Issue Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar.
5-year bonds 20,000 20,000 30Y
20Y 20Y
10-year bonds 80,000 20,000 20,000 20,000 20,000
Super-long-
35,000 10,000 10,000 15,000
term bonds
City resident
3,000 3,000
bonds
Total 138,000 20,000 30,000 20,000 3,000 20,000 10,000 35,000
22
Table of Contents (Reference Materials)
Outline of General Account Budget for Fiscal Year 2008………………………………………………….......23
Balance of Payments in General Account Settlement …………………………………………………....……24
General Account Settlement for Fiscal Year 2007 – Revenues ………………………………………………25
General Account Settlement for Fiscal Year 2007 – Expenditures ………………………………………......26
Special Account Settlement for Fiscal Year 2007 …………………………………………...........................27
Settlement of Accounts of Public Enterprises for Fiscal Year 2007 ………………………………………….28
Business Conditions of Public Enterprises in Fiscal Year 2007 ………………………………………….......29
Conditions of Funds in Fiscal Year 2007 ………………………………………….........................................30
Financial Structure of Nagoya City (Revenues) …………………………………………...............................31
Financial Structure of Nagoya City (Expenditures) …………………………………………..........................32
Business Conditions of Auxiliary Organizations in Fiscal Year 2007…………………………………………33
Balance Sheet (Ordinary Accounts) for Fiscal Year 2007 …………………………………………................34
Balance Sheet (All Accounts) for Fiscal Year 2007 …………………………………………..........................35
Administrative Cost Statement (Ordinary Accounts) for Fiscal Year 2007 ……………………………….….36
0
Outline of General Account Budget for Fiscal
Year 2008
Still in a severe financial condition in spite of the Revenues
expected increase in city tax revenues, the city
will not only continue to make efforts for healthier
Other
public finance but also make a positive approach 280.3 billion yen City tax
in line with the following four priority themes in 28.5% 528.9 billion yen
fiscal year 2008. City Bonds 53.8%
80.5 billion yen
* The Environment 8.2%
* Exchange and Industries
National
* Security and Safety Treasury
Local Grant Tax
Disbursements
* People and the Future 93.0 billion yen
1.0 billion yen
0.1%
9.4%
The initial budget amount for general accounts is
almost unchanged at 983.7 billion yen, which is Expenditures
up 4.7 billion yen from the initial budget amount
for the previous fiscal year (100.5% of the figure Personnel
Expenditure
for the previous fiscal year). Other 192.6 billion yen
383.6 billion yen 19.6%
39.0%
Bond
Expenditure
146.5 billion yen
14.9%
Expenses w ith Social
an Investment Assistance
Nature Expenditure
98.4 billion yen 162.6 billion yen
10.0% 16.5%
23
Balance of Payments in
General Account Settlement
(Hundred million yen) (Million yen)
12,000 1,791
1,542 1,771
297 879 1,372 1,334 2,000
11,500 2,142 1,859
506 1,108 1,000
11,000
0
10,500 -1,000
10,000 -2,000
9,500 -3,000
9,000 -4,000
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Revenues (100 million yen) Expenditures(100 million yen) Real Balance of Payments
Fiscal year
(million yen)
Real Balance of Payments is calculated by deducting financial sources which will be applied to works carried over to the following fiscal year
from the balance of revenues over expenditures (pro forma balance).
Although the city has been in the black since fiscal year 1976, it has borrowed funds from the bond redemption fund as a measure for
emergency evacuation between fiscal year 2000 and fiscal year 2004.
In fiscal year 2007, the city has continued to make efforts to secure financial sources through such means as positive sales of unused land and
issue of bonds to promote administrative reform aiming at sustainable and stable financial management.
24
General Account Settlement for Fiscal Year
2007 – Revenues
Revenues City tax revenues increased from the previous
fiscal year by 21.3 billion yen (to 104.3% of
the figure of the previous year) owing to
Total Amount of Revenues: 965.3 billion yen effects of tax reforms including abolition of
fixed-rate cut in individual municipal tax and
transfer of tax revenue sources.
No ordinary grant tax as a local grant tax has
been delivered to the city since fiscal year
Other 2006.
276.8 billion yen
28.7% City Tax
Other income decreased from the previous
516.5 billion yen
53.5% fiscal year by 29.7 billion yen (to 90.3% of the
figure of the previous year) owing to a
decrease in the received income transfer tax
City Bonds
and extraordinary revenue support grant as a
82.2 billion yen
8.5% result of transfer of tax revenue sources.
National Treasury
Disbursements
89.3 billion yen
Revenues from city bonds decreased from the
Local Grant Tax previous fiscal year by 1.5 billion yen (to
9.2%
0.5 billion yen
98.2% of the figure of the previous year).
0.1%
25
General Account Settlement for Fiscal Year
2007 – Expenditures
Expenditures
Classification of expenditures by nature
Total Amount of Expenditures: 961.8 billion yen shows that so-called mandatory expenses,
which are obliged to be made under laws
and regulations or according to their nature,
including personnel expenditure and bond
Personnel expenditure, increased from the previous
Expenditure year by 15.3 billion yen.
Other 189.6 billion
372.5 billion
Meanwhile, as a result of a decrease in
yen
Bond construction work expenditure, expenses
yen 19.7%
Expenditure
38.7% with an investment nature decreased from
141.9 billion
yen the previous year by 4.4 billion yen, resulting
14.8% in a decrease of 9 billion yen in the total
amount of expenditures (recording 99.1% of
the figure of the previous fiscal year).
Expenses with Social
an Investment Assistance
Nature Expenditure
103.2 billion 154.6 billion
yen yen
10.7% 16.1%
26
Special Account Settlement
for Fiscal Year 2007
(Million yen)
Account Name Revenue Expenditure Balance Description of Work
Mutual Aid Traffic Accident Insurance Plan 68 68 - Management of a mutual aid traffic accident insurance plan
National Health Insurance 213,540 213,150 390 Management of the national health insurance
Elderly Health Care System 167,047 168,795 (1,748) Granting of elderly health care cost
Nursing Care Insurance 112,426 107,907 4,519 Management of the nursing care insurance
Welfare Loans to Mother-child Families and Widows 926 891 35 Granting of welfare loans to mother-child families
Agricultural Insurance Plan 82 51 31 Management of an agricultural insurance plan
Management of the central market, the northern market, the
Funds for Markets and Butcher Houses 7,156 7,156 -
southern market and butcher houses
Loans to Land Readjustment Association - - - Granting of loans to the private land readjustment association
Urban Area Redevelopment Projects 2,072 1,958 113 Implementation of urban area redevelopment projects
Cemetery and Park Improvement Projects 1,405 1,405 - Implementation of cemetery and park improvement projects
Funds 100,689 100,688 1 Management of 15 funds including an education fund
Advance Site Acquisition 26,444 26,444 - Implementation of advance site acquisition projects
Government Bonds 670,058 669,868 190 Collective management of issue and redemption of city bonds
Total 1,301,913 1,298,382 3,531
* Figures are rounded off to the nearest million, which may result in inconsistencies between totals and breakdowns.
The city has established special accounts (13) and public enterprise accounts (6) in addition to general accounts.
Special accounts have been established for accounting separate from general revenues and expenditures in order to carry out specific works
or allocate specific revenues to specific expenditures.
Deficit in the account of the elderly health care system was caused by the fact that payment of national treasury disbursements, prefectural
disbursements and grants to the paying fund were not partially made in the fiscal year under review and carried over to the following fiscal
year, and the shortage in the account was met by advance appropriation from the budget for fiscal year 2008.
27
Settlement of Accounts of Public Enterprises
for Fiscal Year 2007
(Million yen)
Account Name Revenue Expenditure Balance Description of Business
Management and facility maintenance for a civilian
Hospital Business 20,813 24,725 (3,912)
hospital
Management and facility maintenance for a water supply
Water Supply Business 50,989 49,559 1,430
business
Industrial Water Supply Management and facility maintenance for an
864 812 52
Business industrial water
Management and facility maintenance for a
Sewerage Business 77,124 75,612 1,512
sewerage business
Management and facility maintenance for a city bus
Bus Business 25,507 23,510 1,997
system business
Management and facility maintenance for a subway
Subway Business 83,141 84,991 (1,850)
system business and construction of new lines
Total 258,438 259,209 (771 )
＊Figures are rounded off to the nearest million, which may result in inconsistencies between totals and breakdowns.
The above accounts are related to extremely enterprise-like works which are run basically with the charges paid by
recipients of resident services under an independent accounting system.
Although both of the hospital business and the subway business posted a deficit, with respect to the hospital business
the city aims to improve the current account balance pursuant to the “Reform Plan for Nagoya Municipal Hospital
(provisional title)” which will be established in the current fiscal year. And with respect to the subway business, the city
aims to achieve a surplus in the current account in fiscal year 2010 pursuant to the “Municipal Transportation Business
Innovation Plan” established in fiscal year 2005.
28
Business Conditions of Public Enterprises in
Fiscal Year 2007
(Million yen)
Industrial Water
Hospital Water Supply Sewerage Bus Subway
Supply
Business Business Business Business Business
Business
Total assets 30,578 358,875 12,267 1,038,609 20,684 822,860
Fixed assets 28,522 312,128 11,043 991,140 19,473 807,540
Assets
Current assets 2,056 46,746 1,223 46,813 1,211 15,320
Offset account - - - 656 - -
Balance Sheet
Total liabilities 5,540 41,735 217 25,675 41,711 314,749
Liabilities Fixed liabilities 113 25,183 48 1,809 29,127 291,149
Current liabilities 5,427 16,552 169 23,866 12,584 23,600
Total capital 25,038 317,140 12,050 1,012,934 (21,028) 508,111
Owned capital 21,087 200,559 11,127 426,280 16,845 243,224
Capital
Borrowed capital 14,224 105,413 205 543,822 12,729 441,101
Retained earnings (10,273) 11,168 717 42,832 (50,601) (176,214)
Total Liabilities and capital 30,578 358,875 12,267 1,038,609 20,684 822,860
Income Statement
Current income 20,813 50,989 864 77,124 25,508 83,141
Current expenses 24,725 49,559 812 75,612 23,510 84,990
Net income for the year (3,912) 1,430 52 1,512 1,997 (1,850)
Surplus at the beginning of the year (8,073) - 257 - (56,236) (318,522)
Unappropriated earned surplus at
(11,985) 1,430 309 1,512 (54,239) (320,372)
year-end
* Figures are rounded off to the nearest million, which may result in inconsistencies between totals and breakdowns.
29
Conditions of Funds in Fiscal Year 2007
Balance of Funds as of the End of Fiscal Year 2007
(Million yen)
Name of Fund Balance Outline of Funds
A fund to secure financial sources for redemption of city bonds through a
Bond Redemption Fund 149,443
planned accumulation
A fund to secure financial sources for bullet redemption of publicly offered city
(For Bullet Redemption) (147,067)
bonds, etc.
A fund to make adjustment among the financial sources for different fiscal
Financial Adjustment Fund 3,221 years through accumulation of excess financial sources and reversal of
reserves
Funds to apply reserves and investment income to specific purposes and
Special Purpose Funds 23,927
works
Reserve Fund for Compensation for Fire
8,720
Damage, etc.
Reserve Fund for International Exchange
2,270
Programs
Reserve Fund for Cultural Promotion Programs 1,381
Reserve Fund for Nursing Care Benefit
1,702
Expenses
Environmental Conservation Fund 607
Nine Other Funds 9,247
Funds to make investment within a fixed amount through repeated purchases
Fixed-amount Funds 4,514
and sales of land and works of art, etc.
Land Fund 4,000
Two Other Funds 514
Total 181,104
* Figures are rounded off to the nearest million, which may result in inconsistencies between totals and breakdowns.
30
Financial Structure of Nagoya City (Revenues)
Among the city’s revenues Revenues Settled in Ordinary Accounts
settled, city tax revenues are on (Hundred million yen)
a slight upward trend owing to
12,000 11,220 11,211
the economic recovery. And in
10,904
recent years they have 10,623 10,662
10,422
accounted for an increasing 10,056 9,912 9,802
proportion of the entire 10,000 9,644
3,168 3,288
revenues. 3,325 3,208
3,253 3,091
3,019 3,041 2,746
2,922 Other
The proportion of revenues 8,000
from issue of city bonds had 1,496 1,246
been going up as a result of 1,087 1,497 1,521 1,503 1,276 1,000 988 City Bonds
social capital improvements in 1,256 977
6,000 1,254 1,005
response to national economic 949 970 908 898 National Treasury
288 454 1,050 1,033 967 Disbursements
packages and issue of 474 326 274 12 5
210 117 44
extraordinary financial measure Local Grant Tax
bonds. However, the 4,000
proportion has been gradually
going down as a result of 5,014 5,165
4,966 4,805 4,806 4,689 4,568 4,611 4,735 4,952
efforts for restraint on issue of 2,000 City Tax
bonds in consideration for the
fact that proceeds for principal
redemption and interest
payment have placed an 0
increasing burden on financial 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Fiscal year
management year by year.
* Figures are rounded off to the nearest million, which may result in inconsistencies between
totals and breakdowns.
31
Financial Structure of Nagoya City
(Expenditures)
Among expenditures classified Expenditures (by Nature) Settled in Ordinary Accounts
by nature, expenses with an (Hundred million yen)
investment nature for fiscal 12,000
year 2007 were approximately 11,084 11,137
10,801
half of those for fiscal year 10,551 10,578 10,352
1998 as a result of efforts for 10,017
9,847 9,765
10,000 9,603
restraint in consideration for
severe financial conditions and
4,372 4,538
a future increase in bond 4,136 4,299 4,164 4,020
expenditure. 8,000 3,895 3,851 3,670
3,769 Other
Although bond expenditure
had been on the rise owing to 6,000
an accumulated increase in 2,354 2,069 1,927 1,829 1,722 1,423 1,255 1,167
Expenses with
1,015 1,222 an Investment
Nature
outstanding city bonds issued
in the past economic packages, 1,513
4,000 1,551 1,562 1,673 1,560 1,487 1,470 Bond
it peaked in fiscal year 2003 1,224 1,304 1,418 expenditure
and had been decreasing since
fiscal year 2004. 1,148 1,239 1,107 1,179 1,245 1,341 1,412 1,460 1,475 1,536 Social
Assistance
In fiscal year 2007, bond 2,000 Expenditure
expenditure increased from the
previous fiscal year by 2.9% 1,966 1,986 1,963 1,943 1,885 1,895 1,894 1,872 1,828 1,879
Personnel
primarily because the city made Expenditure
0
a compensation-free advance
repayment of public funds. 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Fiscal year
* Figures are rounded off to the nearest million, which may result in inconsistencies between
totals and breakdowns.
32
Business Conditions of Auxiliary Organizations
in Fiscal Year 2007
(Million yen)
Nagoya City Land Nagoya City
Nagoya Express
Development Housing 23 Other Entities
Authority
Corporation Supply Corporation
Contributions
Conditions of
Contributions 20 50 281,421 24,288
Contributions by the City 20 50 140,711 14,339
(Contribution Ratio) 100% 100% 50%
Number of Entities Invested 1 1 2
Total assets 100,516 31,752 1,541,566 161,405
Fixed assets 23 25,050 1,522,132 118,368
Assets
Current assets 100,493 6,702 17,639 43,005
Balance Sheet
Deferred account - - 1,796 32
Total liabilities 99,147 28,343 1,260,145 144,877
Liabilities Fixed liabilities 90,689 13,659 1,243,698 100,684
Current liabilities 8,459 14,685 16,447 44,193
Net assets 1,369 3,408 281,421 16,528
Total liabilities and net assets 100,516 31,752 1,541,566 161,405
Current income 40,675 13,221 60,726 59,058
Statement
Current expenses 40,723 12,904 60,726 60,795
Income
Net income for the year (after-tax) (49) 317 - (1,898)
Surplus at the beginning of the year 1,398 3,041 - (7,998)
Unappropriated earned surplus at year-end 1,349 3,358 - (9,896)
* The above data is prepared with respect to entities half or more of whose fundamental property has been invested by the city.
Figures are rounded off to the nearest million, which may result in inconsistencies between totals and breakdowns.
The figures for net income in the income statement indicate, with respect to incorporated foundations, increase or decrease in general net assets in the statement of net assets.
33
Balance Sheet (Ordinary Accounts)
for Fiscal Year 2007
(Hundred million yen)
Debit Credit
Assets Liabilities
Tangible fixed assets 32,593 Fixed liabilities 17,587
City bonds (scheduled to be redeemed in and after
(Land 15,179) 16,189
fiscal year 2009)
Investments, etc. 7,704 Debt burden 55
Investments and contributions 5,168 Reserves for retirement allowances 1,343
Loans 2,276 Current liabilities 1,134
City bonds (scheduled to be redeemed in fiscal year
Funds 260 1,134
2008)
Current assets 251
Cash and deposits 83 Total liabilities 18,721
Accounts receivable 168
Net Assets
National treasury disbursements 5,398
Prefectural disbursements 687
General financial sources, etc. 15,742
Total net assets 21,827
Total assets 40,548 Total liabilities and Net Assets 40,548
* Information concerning debt burden (i) Debt burden relating to purchase of properties, etc. 81.8 billion yen
(ii) Debt burden relating to debt guarantee or loss compensation 5,630.4 billion yen
Three public corporations 524.3 billion yen
Breakdown
Jointly issued bonds 5,045.0 billion yen
Other 61.1 billion yen
(iii) Debt burden relating to interest subsidies 0.1 billion yen
34
Balance Sheet (All Accounts)
for Fiscal Year 2007
(Hundred million yen)
Debit Credit
Assets Liabilities
Tangible fixed assets 54,374 Fixed liabilities 31,706
City bonds (scheduled to be redeemed in and after
(Land 16,413) 29,395
fiscal year 2009)
Investments, etc. 5,663 Debt burden 54
Investments and contributions 2,438 Reserves 2,064
Loans 2,219 Other 193
Funds 327 Current liabilities 3,054
City bonds (scheduled to be redeemed in fiscal year
Current assets 679 2,325
2008)
Advance appropriation of revenues of the following
Cash and deposits 1,324 18
fiscal year
Cash and deposits 560 Other 711
Accounts receivable 304 Total liabilities 34,760
Other 460
Net Assets
Deferred account 6
Total net assets 26,607
Total assets 61,367 Total liabilities and net assets 61,367
* Information concerning debt burden (i) Debt burden relating to purchase of properties, etc. 116.4 billion yen
(ii) Debt burden relating to debt guarantee or loss compensation 5,637.5 billion yen
Breakdown Three public corporations 524.3 billion yen
Jointly issued bonds 5,045.0 billion yen
Other 68.2 billion yen
(iii) Debt burden relating to interest subsidies 0.1 billion yen
35
Administrative Cost Statement (Ordinary
Accounts) for Fiscal Year 2007
Balance of Funds as of the End of Fiscal Year 2007 Items of Income
Total Per Capita Total
Amount Component Amount Amount
Category
(Hundred Ratio (%) (Thousand
Category (Hundred
million yen) yen)
million
Cost relating to individuals 1,903 24.4 87.9 yen)
Personnel expenditure 1,659 21.3 76.6
Usage charges or commissions 942
Transfer to reserves for retirement
244 3.1 11.3
allowances, etc. National or prefectural
Cost relating to objects 2,050 26.4 94.7 1,051
disbursements
Cost of supplies 771 9.9 35.6
General financial sources 5,861
Maintenance and repair expenditure 260 3.4 12.0
Depreciation cost 1,019 13.1 47.1 Total income B 7,854
Transfer expenditure 3,465 44.6 160.1
Amortization of net assets and
Social assistance expenditure 1,536 19.8 71.0
national or prefectural disbursements 232
Subsidy expenditure 1,136 14.6 52.5 C
Transfers 563 7.2 26.0
Ordinary construction work expenditure General financial sources and other
230 3.0 10.6 15,428
(including subsidies to other entities) sources at the beginning of the year
Other cost 354 4.6 16.3 Change in balance of general
Bond expenditure (only including interest) 338 4.4 15.6
314
financial sources (D = B - A + C)
Amount of loss from non-payment 16 0.2 0.7
General financial sources and other
Total Administrative Cost A 7,772 100 359.0 15,742
sources at year-end
* Per capita amounts are based on the population entered in the basic resident register as of
the end of fiscal year 2007 (2,164,640 people).
An administrative cost statement is prepared to recognize activities for offering of administrative services not leading to
formation of assets, including personal services and benefit package services, from the perspective of cost.
36
Disclaimer
・ This report has been prepared by City of Nagoya for informational purposes only.
It is not intended for sales purposes or as an offer to subscribe to a certain issue.
・ This material has been prepared using various types of data believed to be reliable at the
time. However, this is not a guarantee of its accuracy and completeness. Moreover, while
future outlooks and projections indicated in this data are at present believed to be
appropriate for City of Nagoya within the scope presented here, this is not a promise of their
being realized in the future.
・ If you have any inquiries on this report, please contact:
Funds Division,
Finance Department, Finance Bureau of the City of Nagoya
TEL: (052) 972-2309
E-mail: a2309@zaisei.city.nagoya.lg.jp
37
