COMHAIRLE CONTAE ÁTHA CLIATH THEAS
SOUTH DUBLIN COUNTY COUNCIL

MEETING OF SOUTH DUBLIN COUNTY COUNCIL

Monday, December 09, 2013

HEADED ITEM NO. 11

HEADED ITEM: F. Department

OVERDRAFT ACCOMODATION FOR 2014

REPLY:

The Council approved an overdraft facility of €25m for 2013 to provide for cashflow timing differences and unforeseen circumstances.  It is considered prudent to renew this overdraft facility of €25m for the period 01/01/2014 to 31/12/2014 .   The overdraft facility has not been drawn upon to date in 2013 but is required on occasion to support timing differences between payments and significant recoupments.

The overdraft accommodation was considered by the Members at the Organisation, Procedure and Finance Committee Meeting held on 21st November 2013:

It is recommended that the Council approve, subject to the sanction of the Minister for the Environment, Community and Local Government, the securing of overdraft accommodation to a limit of €25m for the period 01/01/2014 to 31/12/2014.