Derry Council coffers healthy ahead of striking of rates thanks to critical support of government during COVID-19 pandemic

This was the welcome news delivered to the Council Assurance, Audit & Risk Committee by Alfie Dallas, Head of Strategic Finance & Funding.

Notwithstanding the disruption and loss of income caused by the coronavirus pandemic the civic coffers are reported to be in good health.

Mr. Dallas said: “We have been in receipt of substantial funding from central government which has sustained our financial position and leaves us in a healthy financial position as we stand currently in the 2021 financial year. All our losses associated with Covid have been covered - all our income losses and all our additional expenditure pressures.”

The local authority’s Lead Finance Officer said the financial situation would continue to be challenging going into the next financial year.

“Moving on beyond April 1 and 2021 obviously that’s recurringly extremely challenging for all businesses and we are currently looking at all options as part of our current rates process which will be approved over the next couple of weeks,” he said.

Mr. Dallas said government supports have been extremely important.

“The support we have received from government this year has been critical in basically getting us to where we are at the minute which  is a solid financial footing moving forward.”