At a special meeting of the Limerick County Council held on Saturday, chaired by Mr Robert Cole, J.P., the council members discussed the current financial situation, revealing that the county was facing significant financial challenges. The Secretary, Mr Roche, reported that the subsidiary account was overdrawn by £600, and although the general account had £3,000 to its credit, half of that amount needed to be used immediately to cover rural expenditures. Moreover, they owed £6,000 to the District Councils for the current quarter, and this amount would increase to £20,000 by the first of June.

The Finance Committee, which met prior to the meeting, recommended that the Treasurer be approached for a loan of £20,000 to be disbursed from the 1st of July, and £10,000 immediately. Mr Coleman questioned when the council last received an advance. The Secretary explained that the last £20,000 had already been distributed to the District Councils, and they would not receive further funding until September. This left the council in a difficult position, as they would require an overdraft of at least £24,000 for the next four months.

The Chairman suggested that the Treasury should be requested to disburse the grant at the start of the half-year, instead of at the end of the year when funds were more readily available, as this was when the council faced the greatest financial difficulties. The primary concern was the fortnightly road payments, which needed to be made on an ongoing basis. The Secretary estimated that they would need at least five or six thousand pounds for the roads alone. Additionally, the average expenditure for the District Councils for the quarter would amount to £20,000, and they would require another £10,000 for various other purposes.

Mr Coleman argued that £5,000 would be sufficient for the present situation. However, the Secretary pointed out that £6,000 was needed for the district alone. Mr Barrington added that Limerick No. 1 District was facing difficulties because the city owed them £2,300, and they only had £600 available. The Chairman acknowledged that the council’s financial position at the present time was not particularly unusual, given the ongoing direct labour expenditures. He emphasized that until they had a year-end balance, they would consistently need to raise money. Lord Dunraven clarified that creating a sinking fund would not be permissible as any excess funds at the end of the year would have to be remitted at the half-year point.

In light of the financial predicament, the council passed a resolution requesting an overdraft of £10,000 from the bank to address the immediate cash flow needs. The council acknowledged the need to manage their finances strategically to ensure stability throughout the year.

Limerick Echo – Tuesday 02 May 1905