Council spent almost €92m on capital projects in 2024

Westmeath County Council has published its Annual Financial Statement for 2024, reporting a surplus of €18,468 on its Revenue Account and total income of €117.4 million, of which €91.98m went on capital expenditure.

The details were shared with members of the council at their April monthly meeting by director of finance, Michael Hand.

Chief among the highlights was the council’s major capital investment, totalling €91.89 million, up from €77.3 million in 2023. That funding supported 37 large-scale projects, including housing developments, regeneration, and infrastructure improvements.

Notable projects included the €5.9 million Housing Development at St Brigid’s Green in Mullingar, a further €5.9m on the acquisition of 21 turnkey units at Farranshock Park, expenditure of €4.4m on a housing development at Ennell Court in Mullingar, together with CALF (Capital Assistance Leasing Funding) of €2.3m for 99 units at Charlestown, Mullingar.

During 2024, 92 housing units were added to the council stock, 42 of which were newly constructed. In addition, 238 units, at 13 locations, were under construction as of December 21 2024.

Mr Hand told members that the council received €5.87 million from government to cover public sector pay increases and €8.55 million in business supports, including the Increased Cost of Business and Power Up grants.

He said revenue collection rates were recorded as 97% for commercial rates, 97% for rents, and 102% for housing loans. The council continued to work with tenants and borrowers experiencing arrears.

Income sources for 2024 were as follows: 63% from grants and local property tax, 22% from goods and services, and 15% from commercial rates. Total revenue was €117.4 million, an increase from 2023, and grants and subsidies amounted to €61.25 million. In 2024, Westmeath’s total income reached €117.4 million. Grants and Local Property Tax accounted for 63 cents of every €1 earned, while goods and services and commercial rates made up 22 and 15 cents respectively. In terms of expenditure, payroll accounted for 26% of costs, pensions 6%, operational costs 58%, and other non-pay costs 10%.

Mr Hand outlined a number of future projects, including works at Athlone Castle, public realm improvements in Athlone town centre, rural regeneration schemes, upgrades to public lighting, and climate adaptation initiatives. He said that maintaining a healthy pipeline of capital projects depended heavily on continued government funding, local contributions, and strategic asset sales.

The financial statement also noted possible future challenges such as cost of living pressures, international economic developments, and their potential impact on local authority income streams. These were outlined with reference to the Central Bank of Ireland’s economic analysis.

Procurement plea

A call was made by Cllr Paul Hogan that there be a social clause in the council’s procurement protocols that would ensure that as far as practicable, contracts for work in Westmeath would go to local companies, since local businesses are paying rates to the council, and paying wages to local people.

Responding, director of finance, Michael Hand told Cllr Hogan that while he did agree with his sentiment in relation to the local businesses, the authority was bound by the thresholds that apply.

He said the council’s procurement officer, JP Crowley, is available to assist any local business owner in need of advice on applying for tenders, and guidance and assistance is also available from the Local Enterprise Office (LEO).