Kerry County Council has come out of 2022 with a modest, positive outturn in its finances.
That’s according to the council’s Head of Finance, Angela McAllen, who presented the local authority’s Annual Financial Statement to elected members at this month’s council meeting.
Despite recording a surplus for the year, the statement acknowledges the continuing economic uncertainty which remains a challenge for the council’s finances.
Ms McAllen wrote in the statement that the ongoing, challenging global economic environment continued to impact the council’s finances last year.
She said, however, targeted government supports, as well as close budget monitoring and management ensured the council finished with a modest, positive outturn.
This consists of an overall surplus for the year of over €82,000.
Capital expenditure by the council increased by over €30,000 last year compared to 2021, which the council says indicates the ongoing extent of infrastructural development undertaken by the local authority last year.
Angela McAllen writes that the council has an unprecedented capital programme underway, and very significant progress was made in areas including the Housing Capital Programme, transportation links, the County Greenway programme.
Ms McAllen also noted that the economic environment presents a challenging collection environment for the council’s commercial rates.
Despite this, the percentage collection for commercial rates increased from 80% in 2021 to 86% in 2022, reducing the arrears by just under €500,000.
She said it’s expected that the collection of rates will be extremely challenging this year compared to the pre-COVID economy, but the council continues to engage fully and constructively with its customers and debtors, and debtors are encouraged to continue engaging with the council.
The statement says the financial outlook for 2023 both locally and globally remains uncertain given the impact of the conflict in Eastern Europe and inflation, but financial provision has been made to safeguard the council’s finances for the coming years where possible.
It adds the council will continue to closely monitor income and expenditure levels this year, and if required, will make financial adjustments to contain expenditure.
