Shepway District Council Debt Levels

As of the 31st March 2015 Shepway District Council had debt levels of sixty two million, three hundred thousand pounds (62.3m). While discussing the accounts during the 20 day window 8/07/15 – 04/08/15 these debt levels were teased from the council. Below is an email from an SDC employee stating these facts: Before you read them just think about this

SDC Debt divided by Shepway Residents.

62.3m divided by 104,000 = 599.03 for every resident.

1.    The council’s debt level prior to borrowing for the HRA Self-Financing payment in March 2012 was £28.1m. This rose to £68.2m after borrowing to fund the payment.

2.    The council’s debt level at 31^st March 2015 is £62.3m, a reduction of £5.9m since 31^st March 2012.

Regards

Group Accountant (Capital & Treasury Management) Shepway District Council

The debt has shrunk in 3 years by nearly six million, on average two million a year over the three years to Mar 2015?

It is better for you to decide if the Council were sufficiently robust enough in lowering their debt levels.

Shepway Vox