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 31st March 2015 is £62.3m, a reduction of £5.9m since 31st March 2012.
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.