Loulé council executive has approved a 2015 budget of almost €102 million, and claims that the lion’s share is budgeted for capital expenditure - €46 million - in addition to significant spending on social services and education.
According to the deputy mayor of Loulé, Hugo Nunes who is responsible for Finance this is a budget notable for "accuracy and transparency” - notable perhaps for the lack of large wodges of budgeted income from the 'sale of council assets' which has been a budget item in past budgets but always has failed to appear.
The ‘Budget and Major Planning Options for Loulé in 2015’ proposal was approved at this week's executive meeting and now will be submitted for approval at the full council assembly.
Loulé’s mayor, Vítor Aleixo, has stuck to his popular plan to reduce council rates bills for householders.
Also he has approved the early settlement of monies owed to the government under the Support Programme for the Local Economy which should go ahead as planned by the year end which,"allows a reduction of debt servicing costs of €9.25 million in the period 2015-2017."
There will be substantial capital investment in 2015, particularly in the refurbishment of the Música Nova building, "that will house the future Conservatório de Música de Loulé the headquarters of the Philharmonic Band, Artistas de Minerva."
Other works planned include the upgrading of the coastal zone between Quarteira and Vilamoura which already is underway, a contribution to the redevelopment of the EB 2, 3 Dom Dinis school in Quarteira, the extension of Avenida Vale do Lobo, Quinta do Lago and the refurbishment of Gama Lobos Palace.
In the budget there will be a repeat of the vote winning Participatory Budget competition where parishes act as centres for resident’s ideas to improve their immediate neighbourhoods. The sum of €503,000 again will be available for eleven winning projects.