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Lorca gets a historic cut in municipal debt (08/11/2018)

Each Lorca family has gone from supporting a debt of € 3,437 to 1,297 after the development of successive savings and efficiency plans in spending.

The municipality will culminate this year with the best data since the end of 2005.

The councilman of Economy and Finance in the City of Lorca, Juan Francisco Martínez, has reported that the municipal debt suffered by the coffers of the Consistory has been reduced by 65.6 million euros, reducing this indicate up to 39.8 million Today is the official figure of the City Council.

We are talking about an extraordinary better that has been possible thanks to the implementation and implementation of successive plans to optimize spending, saving and economic and budgetary austerity, whose implementation we started years ago with the aim of saving the accounts of all Lorca what supposed a true bankruptcy.

It is a positive evolution sustained over time over the years, and has allowed the economic health of the City Council now offers sustainable numbers, after years and years of rigor and seriousness when using the money of the Lorca

We started with an astronomical debt, confirmed at 105.4 million euros after an audit by independent experts in 2008, and now we have improved it to the current 39.8 million.

To get a better idea of ​​the magnitude to which we refer, each Lorca family has gone from supporting a debt of 3,437 euros to 1,297.

Moreover, we are ready to end this year with a closing in the figure of municipal debt that will be around 39.5 million, according to the projections made by the team of officials integrated in the economic and budgetary service.

Martínez Carrasco explained that the improvement of the Consistory's debt means that this figure has evolved with a daily decrease of almost 18,000 euros, and will end the year with the best record since 2005. The data corroborates that the application of the successive plans and measure of efficiency in spending have achieved their objective, and in fact the model developed in Lorca has served as a reference for other municipalities, which have copied the process executed in our City Council.

We must point out that the improvement of these 65.5 million has been achieved even having had to face the most negative historical series that our city has suffered, plagued by an obstacle.

At first it had to be analyzed in depth what was the real debt of the Consistory.

Once it was completed, we found ourselves in serious trouble, because together with the inherited debt, we found thousands of invoices without paying the City Council's suppliers, which later were added to judicial rulings (mainly the disastrous urban agreements), and the devastating effects of the 2011 earthquake, the floods of 2012 and the worst economic and labor crisis that our country has suffered in decades.

The Economy Minister has reported that the economic improvement of the Consistory is specified in other objective data such as the following:

The Budgetary Result has been positive, achieving an amount of 3.45 million euros.

This means that we have reached a surplus when comparing total income and expenses, which is good news that is linked over several years.

The Treasury Remainder, on the other hand, shows an improvement of 1.6 million euros with respect to the previous year, remaining at the close of the year at 7.06 million.

We have to indicate in this regard that when the recognized rights granted to this City Council by a recent court ruling are executed, the remainder will improve further, reaching zero, or even reaching a positive figure.

This achievement will place us in a position to lift the Sanitation Plan, which restricts this corporation to the financing of investments through banking operations.

The net saving is also positive, specifically in 6'6 million, which is an advance of 1'5 million compared to 2016. We are talking about other good news, which confirms that with our income we can cope with our expenses and the return of bank debt.

We must remember that the bank debt on December 31, showed a clear improvement of 63.5 million euros compared to 2007.

Budgetary Stability at the close of the 2018 fiscal year would be positive around an interval that is in line with technical forecasts between 3.5 and 4.5 million.

This is a new positive figure that has been notified to the Ministry of Finance on the occasion of the fundamental lines of the 2019 budget.

Source: Ayuntamiento de Lorca

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