Tom Kilfeather, Head of Finance, outlines the financial implications of a busy 2007 in the delivery of day to day services and provision of new capital projects
- Tom Kilfeather
In 2007 Sligo Local Authorities will spend approx €78M on day to day operations in the Borough and County. These funds will be spent across the multitude of service areas that the local authorities deliver including housing, roads, water services, planning, environment and the emergency services.
Income to meet the planned programme of expenditure will come from a variety of sources including housing rental and loan income, grant allocations for road maintenance and improvement, water charges, commercial rates and the central government local government fund allocations. On the capital side the level of activity for the coming year will be principally dependent on funding from central government but is likely to see expenditure in excess of €85M. Other sources of funding to meet planned expenditure include development levies and borrowings by the authorities. As in previous years significant areas of expenditure will continue to be in housing construction and acquisition and roads. In the Water Services section 2007 will see the commencement of one of the biggest single projects undertaken in the County with the construction of the new wastewater treatment plant at Finisklin Sligo which when completed will cost in the region of €33M.
The Sligo Local Authorities have made significant progress in recent years in improving a poor financial position and have delivered surpluses of income over expenditure in each of the last three years key target for the Finance directorate in 2007 is to maintain this trend. The Directorate will also continue its efforts to ensure the adequacy of financial systems, the implementation of changes in existing systems, the delivery of value for money throughout the organisation, playing a central role in ensuring the financial probity throughout the organisation and ensuring the development, training and education of staff in the finance function to make certain of the highest standards of proficiency and delivery of best practice service to all our stakeholders both within and outside the Sligo Local Authorities.