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Cherwell has outstanding loans totalling £181m
15/07/2024
The interest bill during the last financial year was around £3.762million
Cherwell District Council has outstanding loans totalling £181million which have been built up to fund the council’s capital investments.
The amount of interest payable on these loans was around £3.762million in the financial year ending on March 31, 2024.
£22million of council cash is held in investments leaving the Council with a net outstanding debt of £159million. This amount is £15million more than twelve months ago.
The figures have been revealed in a Treasury Management Report which will be considered at a full meeting of the Council tonight.
Official government figures show Cherwell and Oxford City as the district council tier authorities with the highest amount borrowed in Oxfordshire. West Oxfordshire, Vale of White Horse and South Oxfordshire Councils are shown as not having any outstanding amounts borrowed.
In February Cherwell’s then Conservative administration agreed to a further £40.4 million of capital expenditure over the next five years, which included new 3G synthetic grass sports pitches at North Oxfordshire Academy, developing Activity Play Zones and sustainability projects.
Published: by Banbury FM Newsteam