Helsinki City Group
The City Group is an ownership and governance structure. Its purpose is to enable compatibility and collaboration between City units, which benefits the City's residents and area. The City Group is governed and developed as an entity formed by the City and its subsidiaries.
The Helsinki City Group comprises the City of Helsinki and the entities and foundations that the City controls. An entity, in which the municipality exercises control as intended in the Accounting Act, is a municipal subsidiary. According to the Local Government Act, foundations that fall within the sphere of the municipality’s control are comparable to subsidiaries. Joint municipal authorities and other entities, in which the City is a partner or a member, are consolidated into the consolidated financial statements.
Companies and foundations are used to complement the City's service production and take care of the support functions needed by the City Group. The City's ownership policy is based on the City Council's City Strategy and other decisions concerning the ownership policy.