Finances of the wellbeing services counties
The wellbeing services counties receive most of their funding from the central government. Since the counties are self-governing, they decide on the use and allocation of their funding. The level of funding is allocated to counties based on imputed criteria and is adjusted annually.
The wellbeing services counties have the right to additional funding if their residents’ fundamental rights to healthcare and social welfare or rescue services would otherwise be compromised.
The budget for a wellbeing services county is prepared each calendar year, and the budget year is always the first year of the period of the financial plan. The financial plan must be balanced or show a surplus over a three-year period. Any deficit that has accumulated on the balance sheet must be covered within three years, otherwise the Ministry of Finance may initiate an evaluation procedure.
The amount of investments made by the counties is guided, among other things, through obligations concerning the preparation of investment plans and budget authority for borrowing. Wellbeing services counties can take out long-term loans for investments only if the Government has granted authority to do so.