The Chamber of Faro will have an extra 4,3 million euros, to add to the 2016 Municipal Budget, and will invest them in "works, in support of associations and parishes", announced the mayor of Faro Rogerio Cod. There won't even be a lack of money "for Christmas lighting", which is no longer seen in Baixa de Faro a few years ago.
Since 2010, the municipality of Faro has not had an investment plan, «since all the funds have been used to pay old bills and debts», something that changed after the management balance for fiscal year 2015 was (very) positive.
As explained to the Sul Informação the mayor farense, the management balance for the year 2015 was positive «by 5,4 million euros». Aside from about a million euros, that the fact that Faro being still conditioned by having accessed the Local Economy Support Program (PAEL) forced to reserve, that money has now been released, "after the approval of the accounts of the previous year, in April".
The proposal to include these 4,3 million euros in the Municipal Budget of Faro, through a budget review, will be discussed in a Chamber meeting next Monday, at 15:00.
With the available funds, the Farense Chamber decided to move forward with a series of investments that it had long wanted to carry out, but which were impeded by the limitations imposed by the process of balancing accounts and by the loan it took out from the PAEL.
The biggest share, "more than 2 million euros", will be to continue the program Faro Requalify, recovery and renovation of the county's road network.
Also significant is the amount earmarked for the refurbishment of public buildings – “schools, pavilions, swimming pools, leisure areas, sports facilities…” -, which will amount to 1,6 million euros.
The remaining funds will be used to support associations, support parishes and invest in Baixa de Faro, namely “on New Year's Eve and the placement of Christmas lighting, which we didn't have a few years ago”.
“In practice, we made a substantial profit last year. Our revenue execution rate was 99 percent, which is very high», explained president Rogério Bacalhau.
Click here to find out which works the Chamber of Faro will do with 4,3 million euros.
Some indicators:
>>The Municipality's total debt at the balance sheet level was the lowest in the last ten years: 43.842.272,78 euros.
In other words, in 5 years, the municipality has expunged around 39 percent of its total debt.
In 2010 the debt was 71.725.953,88 euros.
>>The Municipality ended the year without late payments, which is a novelty in 10 years of municipal management.
>>In terms of total revenue, the Municipality had a budget execution rate of 98,80 percent, the highest in recent years.
>>The value of the balance of budget operations management for the fiscal year of 2015 to be carried over to the year 2016, totals 5.455.822,33€, of which 4.286.222,33€ will increase the expenditure budget.
Budget Review:
Incorporates €4.286.222,33 for investment, distributed in 5 large groups:
>>Program Faro Requalify 2
>>Recovery of Public Equipment
>>Commitment to Commerce
>>Support for Associations
>>Support to Parish Councils
Updated at 18:55 pm, adding details on the accounts of the Chamber of Faro and the planned Budget Review
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