Santiago del Teide once again complies favorably with all the required indicators of the audit of the Canarian Municipal Financing Fund corresponding to the settlement of the 2020 budget.
Emilio Navarro, Mayor of Santiago del Teide, points out that “it is of utmost importance for our municipality to comply with the provisions of Law 3/1999 of February 4, of the Canarian Municipal Financing Fund, since this means not changing the objective that We proposed from the beginning that it is to keep our City Council financially healthy while allowing us to allocate that money from the financing fund to investment projects “.
The audit performed shows that the main indicators of economic-financial sanitation are met, reaching the indicator of Net Savings of 8.4% the minimum being greater than 6%, the indicator of Long-Term Debt stands at 0.0%, the limit for said ratio must not exceed 70%, and the Remaining Treasury for General Expenses stands at 128.6%, the threshold established for this quantity must be greater than 1%.
Therefore, the Santiago del Teide City Council presents a positive evolution in relation to its financial and economic management above the required levels and this is reflected in the most important indicator, the Remaining of Treasury, which accumulates all outstanding balances both receivable and payable as well as the cash resulting from the economic activity that has been taking place in this and in all previous years, being able to verify its decrease with respect to the previous year.
