An e-mail received yesterday evening:-
In response to your further question, I have been asked to provide you with the following information:
- During 2024/25, Council borrowed $105 million from LGFA and repaid $60 million
- Net debt increased in the 2024/25 year from $244.6 million to $269.9 million – an increase of $25.3 million
I hope this additional information is of assistance.
Ngā mihi, Linda
Wasn’t the justification for last year’s 17.3% Rates hike to reduce debt and not increase it? In fact a careful reading of last year’s Long Term Plan shows that the KCDC doesn’t expect to start reducing debt until 2029.