Hyvinkää's financial director Markus Peevo expressed deep concern about the city's growing debt during a public meeting. He stated each additional million in debt reduces resources for public services.
Peevo explained the financial reality facing the Finnish municipality. "Every extra million in debt costs us several municipal officials' salaries in interest payments," he said. "This displaces our ability to provide services. That's what worries me."
The city plans to take on 81 million euros in new loans next year while investing 74.9 million euros in major projects. Key investments include a new school and daycare center in the Hangonsillan area, the Hyvinkää Areena complex housing university facilities and sports venues, and infrastructure improvements like the Western Connection Road underpass.
Peevo contrasted Hyvinkää's situation with other Finnish regions. "We have areas in Finland with no investment possibilities," he noted. "Their only outlook is to save and cut every year, reduce services until the last one turns off the lights. Hyvinkää is different. Hyvinkää has hope."
City manager Johanna Luukkonen compared municipal budgeting to managing a household with a mortgage. One resident questioned why budgets rarely match reality and suggested using artificial intelligence for more accurate forecasts.
Peevo emphasized professional responsibility over technological solutions. "The numbers are under our official responsibility, not AI's responsibility," he responded. "The world doesn't always materialize as we in Hyvinkää have planned. Nobody knows what will happen in Hyvinkää and the world a year from now in November."
He provided perspective on budget variances, noting that a 3 million euro deviation in a 180 million euro budget represents about a 1% margin of error.
While the city maintains ambitious investment plans, the finance director's warnings highlight the delicate balance Finnish municipalities face between development and fiscal responsibility. The substantial debt accumulation raises legitimate questions about long-term service sustainability despite current economic activity.