Mr. Martin Lydon, Director of Services, presented the Annual Financial Statement (AFS) for 2018 to the Members for consideration. The statement is prepared in accordance with Statutory requirements governing the production of the AFS for Local Authorities prescribed by the Minister.

·         A total of €90m was expended in Revenue and Capital Expenditure in 2018

·         The was no recourse to an overdraft during the year

·         93% of invoices were paid on time

·         The rates collection rate increased from 83% to 86%. The value of €2.5m of rates accounts are yet to be decided by the Valuation Tribunal.

·         Planning Legal costs of €200k have to be provided for in respect of the High Court Appeal for the Anarobic Digestor hearing

·         There has been substantial work completed on unfunded balances

·         37% of our income is derived from state grants and subsidies (€7m from the equalisation fund)

On the PROPOSAL of Cllr. Doherty

                SECONDED by Cllr. Ward     

It was AGREED to adopt the Unaudited Annual Financial Statement for year ended 31^st December 2018