A look at the balance sheet
The commune of Ordino has concluded the year 2023 with a surplus amounting to 5,061,997 euros, a result that was presented at the session of the commune council this Thursday. The opposition, however, has expressed concern, suggesting that it could have been managed more efficiently to reduce the accumulated debt.
Debt analysis and conflicting views
During the presentation, the finance minister, Ludovic Albós, broke down the financial data, highlighting that the current debt level is 85.77%, with a total of 11,252,954 euros. Enric Dolsa, councilor of Unites per Ordino, criticized this strategy, pointing out that having 9.5 million in certificates of deposit is not the best option if, at the same time, a high level of debt is maintained.
Debt reduction strategies
Dolsa proposed that the common use part of the certificates to reduce the debt, thus creating a more sustainable balance between income and expenses. “In the short term, interest rates are low, so it would be wise to invest some of these savings to lower the debt,” he defended.
Future prospects for Ordino’s finances
The Consul Major, Maria del Mar Coma, provided a more conservative view, emphasizing that the current loan of eight million euros, negotiated approximately 25 years ago, has very favorable conditions. Coma warned about the uncertainty in the construction projects in the short term, which could limit the future income of the common.
Imminent investment needs
The president expressed concern about the investments that will be needed in the coming years, suggesting that reducing current debt could lead to a future need for new borrowing, possibly on less favorable terms.
Budget execution and outstanding investments
In terms of budget execution, 60.39% of expenditure has been achieved, with an increase of 10.56% compared to the previous year. Investments have reached 24.95% of the budget, including projects such as the improvement of pavements, the creation of a children’s park and the reform of a warehouse.
Increase in income
Revenue has seen a remarkable increase of 34.84%, driven mainly by direct taxes, with a notable surplus generated by construction tax. Fees for general services and public parking and Sports Center prices have also increased.
