The European “City Economic and Financial Governance (CEFG) Group” is a high-level partnership of CEOs/CFOs and Directors of Finance in the field of economic and financial governance of the cities Amsterdam (NL), Barcelona (ES), Bordeaux (FR), Hamburg (DE), the City of London (UK), Milan (IT) and Vilnius (LT).
It is a timely initiative as public sector financial and accounting practices are still highly fragmented within the European Union and even within many of the individual Member States. The CEFG Group is managed and chaired by the European Institute of Public Administration (EIPA) and supported through active participation by the European Commission - Eurostat – as it coincides with their efforts to formulate the European Public Sector Accounting Standards (EPSAS) and to implement them across the EU.
The uniqueness of the partnership consists in the fact that it is the first time that fiscal and financial management issues are discussed from a cross-border perspective at city level. The initiative has raised a great level of interest in the European environment, also due to the production and publication for the first time of a Joint standardized financial report and 10 financial health KPIs for City Governments in Europe.
Synopsis of the CEFG Group City Portraits
|Standardised Financial Reports and Financial Health KPIs for City Governments in Europe 2013-2015 |
Amsterdam is the capital of the Netherlands and also its biggest city with around 830.000 inhabitants. It makes up a large part of the northern Rands...
Area: 219,31 km2
Population: 834.713 (2016)
Barcelona, the capital of Catalonia and designated European capital of innovation for 2014, has more than 1,6 mio. inhabitants and is at the heart of ...
Area: 102 km²
Population: 1,6 mio.
Bordeaux Métropole comprises 760.000 inhabitants in 28 towns, among which the City of Bordeaux with 250.000 inhabitants. Bordeaux Métropole is the h...
Area: 578 km²
Population: 760.933 (2014)
The Free and Hanseatic City of Hamburg is Germany’s second largest city following Berlin. At the same time, it is one of the states of the Federal R...
Area: 755,3 km²
Population: 1,8 mio.
With 8,42 mio. inhabitants, London is Europe’s most populous city and one of the command centres for the global economy. It comprises 33 local auth...
City of London
Area: 1.572 km2 (Greater London)
Population: 8,42 million (Greater London)
Milan, the capital of Lombardy, has a population of 1,3 million. It is the biggest industrial city in Italy combining different industrial sectors. A ...
Area: 182 km²
Population: 1,3 mio.
What does it take to implemenet local government strategies? Read the recently published article by CEFG Group Co-Chair Alexander Heichlinger, CEFG Group Expert Emanuele Padovani and David W. Young "Implementing Local Government Strategies: A Framework for Action" to learn about the "6Cs" your local government should be aware about for reaching you city strategic vision.
The latest output of the CEFG Group - the CEFG Group City Portraits - has just been published. These portraits provide background information about the environment in which the cities' finances and financial management are embedded. Thus, they complement the financial information of the standardised financial reports.
Some CEFG Group findings were used for the academic article "The role of a municipality's financial health in a firm's siting decision" by E. Padovani, David W. Young and Eric Scorsone, which was published in the last edition of the journal Business Horizons. The paper argues that companies should pay more attention to the financial health of the municipality where their activities will take place. Read more here.