Porto City Hall got maximum score as regards financial effectiveness and efficiency at national level, according to the Financial Yearbook of Portuguese Municipalities.
Also in recent years, as evidenced by previous dossiers, Porto is spotlighted, again, in the annual summary that discloses the management and performance by all the Municipalities in the country. There are 308, in total.
Out of these, only 75 municipalities, as stated by Lusa News Agency, obtained a satisfactory assessment regarding financial effectiveness and efficiency. The Municipality of Porto, among all, obtained maximum score: 1744 points out of 1900; followed by the Municipality of Lagoa (1681), in the Algarve, and the Municipality of Arronches (1635), in the Portalegre district; these are municipalities that lead big, medium and small districts, respectively.
“Only 75 municipalities can be deemed satisfactory regarding financial effectiveness and efficiency – based in the indicators selected to this Yearbook- by obtaining a total score higher ore equal to 50% of the total score", as noted in the document, subscribed by the Certified Accountancy Association (OCC) of the Instituto Politécnico do Cávado e do Ave.
The same Yearbook states that, as regards the year 2019, the situation “was not favourable to the remaining 233 municipalities (75, 6% of the total of municipalities)", which scored lower than 50% of the total score in the 'global ranking', that is, fewer than 950 points, as stated by the authors.
The chart also spotlighted the Municipality of Porto as repeatedly positioning itself at the top, in terms of the ten assessment indicators regarding financial effectiveness and efficiency: liquidity ratio, operational ratio (less amortisation and provisions) and operating income, current liability under assets, per capita liability, financial coverage rate during expenditure in the year 2019, balance-effective status of implementation, total debt index, surplus index, and per capita direct taxes.
In 2019, the Municipality of Porto closed the year at zero debt, and has amortised over 100 million euros of public debt in the past seven years.