Laois Council underspend by €95,000

Council budget

Laois Council underspend by €95,000

A mixture of underspending and additional funds meant Laois County Council ended 2015 with a surplus of close to €100,000 in their budget, according to director of services Mr Gerry Murphy.

At the recent council meeting, Mr Murphy delivered the council’s annual financial statement for the year ending December 31, 2015.

Tthe opening deficit on January 1, 2015, was €393,285. Speaking to the Leinster Express after the meeting, Mr Murphy explained that this was the accumulative deficit built up since the council first began back in 1899.

Expenditure over the year was €53,731, 704, while the income the council took in was €56,884,495.

In addition, €3,057,368 was a transfer of funds from or to reserves. Mr Murphy said that this was mostly due to works carried out on roundabouts in Laois.

The closing deficit for December 31, 2015, was €297,861, giving a surplus for the year of €95,423.

“This was due to under expenditure in certain areas and in other areas we got more money in, some of it was because we got more grants from the department,” said Mr Murphy.

The opening debit balance on January 2015, was €3,780,969, and again this was an accumulative figure since the formation of the council in 1899. This was capital expenditure, which the council may not have had at the time they began works.

Expenditure over the year was €16,238,762, with income of €12,256,447, and transfer from revenue of €3,057,368.

This gave a closing debit on December 31, 2015, of €4,705,916.

The total indebtedness of the council in respect of loans payable was €113,892,487, a decrease of 4.42 percent on the €119,155,326 in 2014.