Date set for Council Budget meeting
Cavan County Council will hold its annual budget meeting for 2024 on Friday morning, December 1.
The monetary decisions being taken are against a backdrop of reduced income, high inflation, and more demand for local authority services such as social housing. The council also has several major projects in development all of which require significant funding.
A pre-budget meeting will take place at an earlier date.
Each year the Minister for Local Government prescribes the period for the holding of the statutory budget meetings of local authorities. The period for county councils is generally the end of November. The budget must be adopted within 21 days of the first meeting.
Last year, following a revaluation of the Local Property Tax (LPT) nationally, the allocation mechanism has been changed so 100% of the yield is retained within the area it is collected. This new model would have resulted in a loss of income for the council. However, the exchequer provided an equalisation fund to keep the baseline at €9,480,501 - the same level as 2022.
Looking at the years ahead, the council has a number of decisions to make regarding the Non Principal Private Residence (NPPR) tax and landfill income, which have been described as temporary and unsustainable and are continuing to reduce. Landfill income was expected to cease for 2023.
Local authorities are required by law to adopt a sustainable and prudent budget in which the total estimated expenditure for the year ahead must be balanced with total estimated income from commercial rates, local property tax, charges for goods and services, and government grants.