independent

Thursday 23 November 2017

Council's deficit at lowest in a decade

At €5.3m the revenue deficit for Wexford County Council is currently at its lowest since 2007.

Head of Finance Annette O'Neill said the council's opening balance was €9,160,549 in deficit in 2016, while its income was €106,492,726 for the year.

The local authority's expenditure was €105,692,030. The revenue account surplus was €800,696 and a specific revenue reserve transfer was €3,056,073. The closing balance was €5,303,779. The capital debt owed by the council at December 31, 2016, was €135m.

Ms O'Neill said: '€64m of this is actually recoupable from other sources.'

She said: 'There are many factors informing the financial position of the council that need careful management into the future. We want to provide for existing services and for future financial challenges that we will face.'

Cllr George Lawlor asked if the council is having difficulty recouping money from the department for house sales.

He said people have been awaiting payment from the council after the local authority purchased their houses.

Ms O'Neill said there is a delay as the money has to be provided by the department first.

Cllr Malcolm Byrne welcomed the reduction in the deficit. He said a €3m loan was approved for housing and none of that fundng has been used.

'We are experiencing contractual difficulties as our housing programme is being ramped up.'

Ms O'Neill said the €3m is still available for the council to use.

Wexford People

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