The net result of the municipality's accounts in 2023 "fell back to negative values", following "an increase in expenses of approximately 127.2 ME, in contrast to a growth in income of only around 8.5 ME", according to the 2023 Management Report and Financial and Budgetary Statements of the Lisbon City Council (CML), which Lusa had access to. The proposal for this report, including submitting the application of the negative net result for the period of 2023, in the amount of 18,594,206.65 euros, to the municipal assembly for approval, for the account of results carried forward, was made viable by the municipal executive, with the casting vote of the president of the CML, a role currently assumed by the vice-president of the CML, Filipe Anacoreta Correia (CDS-PP). Before Filipe Anacoreta Correia resorted to the casting vote, there had been a tie, with seven votes in favour of the PSD/CDS-PP leadership and seven votes against, namely three from Cidadãos Por Lisboa (elected by the PS/Livre coalition), two from the PCP, one from the BE and one from Livre, and three abstentions from the PS. In a private meeting, the council also approved the accounts of the five municipal companies, namely EMEL - Empresa Municipal de Mobilidade e Estacionamento de Lisboa, Carris - Companhia Carris de Ferro de Lisboa, Lisboa Ocidental SRU - Sociedade de Reabilitação Urbana, Gebalis - Gestão do Arrendamento da Habitação Municipal de Lisboa and EGEAC - Empresa de Gestão de Equipamentos e Animação Cultural, "all of them with positive results and increased investments", the municipality indicated in a statement. In 2022, the CML recorded a positive net result of around 100 ME. Despite a setback in 2023, "the municipality's total debt continued the downward trajectory started in 2007, with a reduction, compared to 31 December 2022, of approximately 12.4 million euros (-4.4%) and a decrease of around 686.1 million euros (-71.8%)", in the period between 2007 (955 ME) and 2023 (269 ME). The holding of the World Youth Day (WYD) in Lisbon, from 1 to 6 August, stands out in the 2023 accounts, since it was necessary to ensure the execution of "a set of tasks, from the event's programming to the design of the infrastructure necessary to prepare the venue, implying the execution of public works contracts, the acquisition and rental of movable property and the acquisition of services, of which the work carried out in Parque Tejo stands out, which remained as a new space for the city's enjoyment", the report states. "In 2023, a loan of up to 15.3 ME was signed with Caixa Geral de Depósitos (CGD), in the form of a line of credit, to finance investments emerging from the holding of WYD in Lisbon", the document states. In addition to WYD, the CML highlights the assumption of competences in the area of education within the scope of the process of decentralisation of central administration to municipalities, considering that the planned financing has proven to be "manifestly insufficient, resulting in a negative balance accumulated, up to 2023, of approximately 29 ME". The municipality also highlights the return of taxes to the municipality's residents, approximately 46.8 ME, corresponding to 3% of the variable share in the Personal Income Tax (IRS), relating to income for the year 2022. According to the report, the budget execution rate for revenue "was 86.7%, reflecting a collection of approximately 954.1 ME, of which around 866.5 ME relate to revenue from operating activities". In a statement, the local authority stressed that the execution of expenditure in 2023 "exceeded 1,000 ME, revealing a greater capacity of the CML", presided over by Carlos Moedas (PSD), to execute its budget, also revealing that "the execution of investment expenditure was higher by 40 ME compared to any previous record" and, "overall, 2023 was the best year on record, reaching 85% execution". The executive of the Lisbon City Council, which is composed of 17 members, includes seven elected members of the "Novos Tempos" coalition (PSD/CDS-PP/MPT/PPM/Aliança) -- who are the only ones with assigned portfolios and who govern without an absolute majority --, three from the PS, two from the PCP, three from Cidadãos Por Lisboa (elected by the PS/Livre coalition), one from Livre and one from BE. Read Also: Lisbon City Council wants to revitalise Parque Mayer and open the space to the city (Portuguese version)