Debt levels spiralling in the Horowhenua

Veronica Harrod
Freelance Journalist

Debt levels at Horowhenua District Council have spiralled to $99 million

This is an increase of $22 million since last year when council debt stood at $77 million.

Council's chief financial officer Doug Law said in the draft 12 month report to 30 June 2018 that net debt prediction in the Long Term Plan of $81 million was based on the assumption of property sales of $7 million, new and improved asset purchases of $22 million and $11 million in cash.

A copy of the draft 12 month report is included in the 1 August agenda of the Financial, Audit and Risk sub-committee.

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