LOCAL GOVERNMENT AUDITOR FINDS WEXFORD COUNTY COUNCIL TECHNICALLY INSOLVENT
Wexford County Council is technically insolvent.
It’s one of twenty in the country in such circumstances according to a report from the Local Government Auditor, which was published today.
The deficit level in many county councils, including Wexford, is worrying according to the auditor’s report.
It’s in excess of 2 million euro in at least nine councils.
Much of this is being blamed on excessive spending on land banks in the boom years.
Wexford County Council currently has a land bank of just over 2,500 acres, which cost 53 million euro.
The lack of payment of commercial water rates is also causing a financial headache for Wexford County Council where half of outstanding water bills remain unpaid.
The council paid out almost 4 million euro in consultants fees over the past three years, it was also disclosed this week.
Other areas where there’s a shortfall in council coffers are commercial rates and housing rents.