by InTrieste
interview: Sophie Renhuldt
Financial Commissioner Everest Bertoli shed light on a substantial budget overhaul for the upcoming years, sharing details in a press conference last Friday. The Trieste city council granted approval on January 8, green-lighting an adjustment of nearly $71 million in the budget forecast for 2024-2026.
“I’m here to break down the specifics of the inaugural budget adjustment, which received the nod from the City Council on January 8. This resolution is ready to roll, as the City of Trieste wrapped up its budget by December 31 of last year, aligning with regulatory requirements,” stated Financial Commissioner Everest Bertoli.
“We’re talking about a significant $71 million in immediate funds for the ongoing fiscal year. The lion’s share of these funds is designated for public works, city planning, roads, and project financing. This allocation aims to keep ongoing projects on track and ensure timely payments to companies involved in Trieste’s municipal ventures,” explained Financial Commissioner Everest Bertoli.
“This is not just a one-off windfall; it’s a multi-year commitment, totaling $60,821,419.40 for 2024, $9,646,221.69 for 2025, and $6,822,422.97 for 2026. This is not new money; it’s part of the 2023 budget, already available and accessible since the projects haven’t commenced or are still in progress. Additionally, this enables the City of Trieste to settle its invoices ahead of the legally stipulated timeframe, maintaining a 17-day turnaround compared to the 30 days mandated by law. With this resolution, funds for payments are immediately accessible,” continued Financial Commissioner Everest Bertoli.
“A portion of the $71 million for 2024 is allocated for the City of Trieste’s personnel expenses and contractual adjustments (nearly $5 million over the next three years). Furthermore, $900,000 is earmarked for the unused tourist tax from 2023, intended for the city’s tourism and cultural promotion.”
“Other allocations include balanced revenue-expenditure financing for upcoming projects. Approximately $16.5 million is set aside for the metropolitan cable car, expected to kick off in 2024. Additionally, $6.2 million is allocated for the Femia linear park, $1.029 million for the fire safety upgrade of the Semi di Mela nursery, nearly $900,000 for the safety measures of the Via Brigata Casale bridge, $777,000 for the initiation of reclamation works on the Barcola embankment, originally planned for 2023 but now shifted to 2024, and $120,000 for the Contovello Ascent, among other interventions.”
“Looking ahead to 2025-2026, the remaining funds are primarily earmarked for project financing, focusing on energy efficiency. Private initiatives are set to commence on January 1 of this year and will span the next two and a half years.”
Financial Commissioner Everest Bertoli concluded by emphasizing that “the $60 million has been promptly made available to ensure the progression of ongoing projects and facilitate the timely payments to all companies contributing to local development.”
