Portal de Murcia
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The City of Murcia amortized last year 13.4 million euros of financial debt and did it taking advantage of the savings achieved in the previous year.
This early repayment has made it possible to reduce the level of long-term indebtedness of the City Council, which by the end of 2016 stood at 143.32 million euros, 20 million less than at the end of 2015, or 43% Current income, far from the limit of 75% established by law to be able to resort to new borrowing operations.
In addition, this Corporation is carrying out the debugging of debit balances of closed exercises, with the objective that the accounts reflect the real image of the City's patrimony.
This procedure has led to a reduction in the amount of outstanding rights for closed financial years by more than 4 million euros compared to 2015.
The budget result of the City Council, which gives information on the management of income and expenditure in one year, has generated a balance of € 33.45 million, while the remaining cash has provided a balance of € 1.3 million Euros.
On the other hand, the City Council has chosen to apply a more restrictive criterion than the Local Finance Act itself in calculating the provision for insolvencies, which has made the balances of doubtful collection not lower.
In any case, to know the final result of the management of 2016 will have to be to the consolidated settlement of the budget, which will be approved in the coming weeks.
Source: Ayuntamiento de Murcia
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