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06 Oct 2022

Request to retain 'prudent' overdraft limit of €2m made by Carlow County Council

The request will come before members at the October meeting of the Council on Monday

An overdraft limit of €2m is being sought by Carlow County Council with "capital projects" on hand. 

The request will come before elected members at the October meeting of the Council on Monday.

In a letter to councillors regarding 'Overdraft Accommodation Year ended December 31 2019', the Council state: "At the October 2017 monthly meeting of Carlow County Council, overdraft accommodation in the sum of €2 million was approved for the year ending December 31, 2018. 

"Subsequently this overdraft limit was sanctioned by the Minister for Housing and Local Government. 

"In view of the timing of expenditure recoupments from central Government including capital projects currently on hands and planned for 2019 it is considered prudent to retain the current overdraft limit. 

"Accordingly, your approval is requested for an overdraft accommodation in the sum of €2 million for the year ending December 31, 2019."

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