Derry & Strabane Council in a ‘decent financial position’
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Having received the report from Lead Finance Officer, Alfie Dallas, Councillor Farrell said: “I know at our half year financial outturn, we were at an £800K overspend and now as we reach the third quarter it has reached £2.3m but thankfully due to prudent financial planning and plenty of government support we are able to mitigate against those losses.”
Mr Dallas informed the committee that it was a ‘positive’ report’.
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Hide AdHe said: “There are a lot of financial challenges there which are continuing and positively at this point we are expecting confirmation from the Department for Communities in the next couple of weeks of further funding for financial losses as we go into the next financial year, and that’s something we weren’t expecting up to this point so it’s very positive and essentially the challenges we are experiencing can continue to be mitigated up to March 31, 23.”
Sinn Fein Councillor Sandra Duffy put on record her thanks for all the support received from the Executive, particularly DfC, saying:
“It has allowed us to be in this positive position at this juncture and we have been looking over the last wee while at moving out of the pandemic and over recent months we have been looking at the pressures it has put on us.”
Referring to the rates process, Councillor Duffy described it as ‘particularly difficult’ in light of the global cost of living crisis.
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Hide Ad“It’s good to hear there are still positive steps coming out of DfC with money still on the table and coming forward,” she added.
“That will help us greatly and the rate support grant is welcomed but we still do have a lot of uncertainty as we were hoping for a three year budget which would give us more clarity around where we are going,” concluded the councillor.
By Gillian Anderson
Local Democracy Reporter