The York Council’s debts increased from £118.3 million to £128.8m at the end of March 2015.
D4NT09 Council Tax bill 2013/2014 for property dwelling band F with 25% discount for sole adult resident
In addition £140.3m was owed on the Council housing account.
The debt represents part of a £317.4 million capital investment programme commitment (which is partly offset by fluctuating revenue balances).
The Council had decided to spend an additional £83.2 million in the current year. Borrowing will peak at £204.3 m.
The inherited Labour programme committed between £13.9 and £26.6m in expenditure in subsequent years (excluding housing)
12% of Council Tax income in the City is now spent on debt charges (interest plus principal repayments)
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