New €13m overdraft
Published 20/10/2015 | 00:00
COUNCILLORS backed a move to extend the local authorities' €13m overdraft into 2016.
Head of Finance Annette O'Neill said the current overdraft expires on December 31, 2015, adding that it will be necessary to seek ministerial sanction for borrowing by way of a temporary overdraft for the 2016 financial year.
Ms O'Neill said: 'The 2015 overdraft approval in place is €13m and it is necessary to continue at this level.' Cllr Robbie Ireton proposed the move and was seconded by Cllr Paddy Kavanagh.