Reykjavík City rejects these claims and seeks to correct the misrepresentations and inaccuracies about the city's financial reporting that appeared in Morgunblaðið's news coverage on Monday, April 7.
The coverage stems from an inquiry from the municipal finance oversight committee sent on Jan. 2 to Reykjavík City's Department of Finance & Risk Management. The inquiry requested Reykjavík City's views on various aspects of the city's financial statements, especially the valuation and classification of assets belonging to Félagsbústaðir hf. The Department of Finance & Risk Management responded to this inquiry in a letter dated March 17, 2025.
A memo from the Director of Finance & Risk Management addresses the newspaper's claims that Reykjavík City's financial statements lack legal basis and alleged misunderstandings in the City's response to the oversight committee.
Memo from the Director of Finance & Risk Management.
Response from the Department of Finance & Risk Management to the oversight committee.