The management audit of the Government of the Canary Islands confirms that the City Council of San Miguel de Abona complies with the financial health indicators established by the Law of the Canary Fund for Municipal Financing, being the indicator of the Remaining of Treasury obtained this year and the previous ones that it better defines the real ability of the corporation to cope with its financial structure.
“The good economic results obtained in the budgetary settlements in recent years have contributed to improving the financial health of the City Council,” says the Councilor for Finance, Antonio Manuel Rodríguez. “This data highlights the good work and good work that has been done,” he adds.
By indicators, net saving stood at 17.4%, exceeding 11 points to that established by the Fund; indebtedness was 0.00%, far from the established limit of 70%; The Cash Remaining was also met, with 158.3%, growing 38 points compared to the previous year. Regarding the conditions of freely available amount, the collection management reached 82.20%, a value higher than the 75% required. The fiscal effort reached 77.6%, an index that exceeds the reference level (72.93%). All this means that the San Miguel City Council must allocate 50% of the transfer it receives from the Canary Islands Municipal Financing Fund to investment, “which will have an impact on the well-being of the municipality and will allow us to promote accessibility, repaving, sanitation and improvement works, among others ”, according to Rodríguez.
