Thanks to the great management work carried out, all the ICO loans signed during 2011 for the payment to the suppliers and part of the loans requested in 2012 have been amortised in only one year.
The Calvià Town Hall has informed of the debt Amortising Plan data this morning which is being carried out since the beginning of the legislature. Thus, the municipal debt will drop almost a 40% at the end of the legislature, going from more than 93 million euros to about 57 million euros. In 2013 the debt of the consistory dropped more than 14 millions with regards to the previous year.
Thanks to the great management work carried out by the Consistory, all the ICO loans signed during 2011 for the payment to the suppliers and part of the loans requested in 2012 have been amortised in only one year.
The Town Hall's total debt at the beginning of the present legislature was of 93.549.568 euros and when the legislature finishes in 2015 it will drop to 57.656.455 euros, almost a 40% less. In 2014 the debt will be reduced to 68.571.474 euros. It is to be highlighted that great part of this debt corresponds to the loans of the Pla Mirall.
Within the chapter of interests, we can highlight that in 2011 the consistory paid for this concept 3.564.016 euros per year, in 2014 the consistory will pay less than two million euros (1.945.754) and in 2015 this amount will be reduced to one million and a half euros (1.588.000)
The Consistory has reached this level of surplus without the need of reducing services or staff thanks to the detailed control of the expense through the Budgetary Control Commission, which has achieved a formula much more efficient to manage the public resources as it adjusts the income to the budgetary reality also making public tenders for all those expenses higher than 1000 euros, thus offering the maximum public concurrence.