Santiago del Teide once again complies favorably with all the required indicators of the audit of the Canarian Municipal Financing Fund corresponding to the settlement of the 2020 budget.
Emilio Navarro, Mayor of Santiago del Teide, points out that "it is of the utmost importance for our municipality to comply with the provisions of Law 3/1999 of February 4, of the Canarian Municipal Funding Fund, since this means not changing the objective that we set out from the beginning, which is to keep our City Council financially healthy while allowing us to allocate that money from the financing fund to investment projects. "
The audit carried out shows that the main indicators of economic-financial consolidation are met, reaching the Net Savings indicator at 8.4%, the minimum being greater than 6%, the Long-Term Debt indicator is at 0.0%, the limit for said ratio must not exceed 70%, and the Cash Remaining for General Expenses is at 128.6%, the threshold established for this magnitude must be greater than 1%.
Therefore, the Santiago del Teide City Council presents a positive evolution in relation to its financial and economic management above the required levels and this is reflected in the most important indicator such as the Remaining of Treasury, which accumulates all outstanding balances both receivable and payable as well as the cash resulting from the economic activity that has been taking place in this and in all previous years, being able to verify its decrease with respect to the previous year.
