The Finance Management Function incorporates the control and management of the Council's finances both revenue and capital. More information on the various services provided by the section is available from the links right menu bar.
The work of the Finance section includes:
- processing all payments to suppliers
- issuing of receipts for monies received
- recoupment of various income streams
- preparation of the Annual Budget and the Financial Statement of Accounts
- keeping all financial records and
- compiling various reports and returns.
The Council's expenditure is divided between Revenue and Capital.
This is the money spent on day-to-day items such as payroll, insurances, loan repayments and purchase of necessary materials for maintenance and repair of our assets. The sources of revenue income are:
- Commercial Rates
- Grants from central Government
- Receipts from the provision of services
This is money spent on the creation of an asset. Examples of these are the building of Council houses and road construction. These projects are funded by way of Department grant or by loan over the construction period but when the project is completed the operational costs are funded from Revenue Expenditure.