4th July 2018 Cornwall Council’s chief executive, Kate Kennally, has given a rare interview to the Local Government Chronicle. She spoke to Robert Cusak. “You make your own weather,” according…
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Was going to a conference in Cannes the right thing to do? Maybe the finances were resilient enough……and with enough strength in the balance sheet? Am I missing something? Am I living in a parallel Cornwall?
Oh really.
Cornwallive report 16.07 14/06/18 quoted the following
“Cornwall Council’s total debt currently stands at £723million. The high figure is detailed in a report on the council’s performance which is due to go before the council’s Cabinet next week.
However the report explains that the council also has investments worth £408m so the net debt is £315m.
The report states that the council’s debt includes £638m of long-term borrowing and £85m of short debt. The average rate of interest on March 31 was 4.35 per cent.
In contrast the council also has £408m of investments which includes £191m of long-term investments and £217m short-term. The average rate of investment return for the council is 1.12 per cent.
Ms Kennally states in this piece:
“We’re making that commitment because it’s the right thing to do and we’ve got the strength in the balance sheet to do it,” Ms Kennally said, adding: “we’re in a resilient position.”
Am I missing something?