Local Government Auditor Finds Wexford County Council Technically Insolvent

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.