Tipperary Council secures green light from councillors to have €10m overdraft next year
Councillors approved the proposal for the overdraft facility at Tipperary County Council's October meeting where a date for the local authority's annual budget meeting was fixed.
Tipperary County Council has received approval from its elected members to have a €10million overdraft facility next year.
That approval was given at the Council’s October meeting in Nenagh where the local authority’s Head of Finance Mark Connolly described the overdraft as an insurance policy.
He said it may be needed for occasions when the Council has to pay out a number of claims and if there was a delay in receiving grant payments for projects.
Mr Connolly stressed the Council hasn’t used its overdraft facility so far this year and it was normally not the case that the local authority needed to go into overdraft.
Approval for the Council to secure a €10m overdraft facility was proposed by Fianna Fáil councillor John Carroll and seconded by Fine Gael Cllr Marie Murphy.
Council Budget
Meanwhile, the Council 2025 Budget will be put to councillors for their approval at a special meeting on Friday, November 29.
The commercial rate for next year will be decided at that meeting. Councillors will discuss the 2025 Budget proposals at two private workshops in Clonmel and Nenagh ahead of the main public budget meeting.