debt

We noticed in Iride McCloy’s election leaflet the statement “servicing a $9 million+ council debt” — in fact the total council debt as at 30 June last year, as stated on page 122 in the annual report here was $140 million.   That was an increase of $15 million on the previous year.

Assuming the increase for this year was similar, then we are up to about $155 million.  The annual report for the year to 30 June 2016 hasn’t been put on-line yet.

The $9 million figure is, however, close to what ratepayers pay to service that debt in interest.

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