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Sustainable fiscal planning in the “city enterprise” – fair to all generations and capable of acting with high-performance infrastructure The example of the city of Cologne

The framework of municipal fiscal policy is undergoing fundamental change. The “New Municipal Finance Management” and an integrated treatment of the “city enterprise” are important steps in confronting the financial challenges of a city such as Cologne in a systematic manner. The goal is to ensure that municipal public service and especially its funding are secured in the long term. Infrastructure maintenance, development and adjustment are at the core of a sustainable municipal financial policy. However, they cannot be treated in separation from other fiscally relevant developments such as demographic change.

On the initiative of the city of Cologne, suitable tools for a sustainable fiscal planning shall therefore be developed. On behalf of the city, the German Institute of Urban Affairs (Difu) and the FiFo Institute for Public Economics have elaborated a preparatory study, which constitutes a first step in the direction of sustainable finances in Cologne and sketches the necessary next stages.