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Debt levels spiralling in the Horowhenua
Debt levels spiralling in the Horowhenua
Veronica
Harrod
Freelance Journalist
Debt levels at Horowhenua District Council have spiralled to $99 million
This is an increase of $22 million since last year when council debt stood at $77 million.
Council's chief financial officer Doug Law said in the draft 12 month report to 30 June 2018 that net debt prediction in the Long Term Plan of $81 million was based on the assumption of property sales of $7 million, new and improved asset purchases of $22 million and $11 million in cash.
A copy of the draft 12 month report is included in the 1 August agenda of the Financial, Audit and Risk sub-committee.
ends
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