Hundreds of thousands of euros in unexpected festival funding have been recorded by Waterford City and County Council this year.

At last week’s Plenary meeting, the 2024 financial report revealed a surplus of €313,000, bringing the Council’s general reserve to €472,000.

However, Head of Finance Bernard Pollard noted that one festival in particular had significantly overspent its budget.

An overspend of €400,000 on Winterval was noted by Mr. Pollard; however, €200,000 in additional income was also noted.

The financial position of Waterford City and County Council continued to improve in 2024, however. Overall income increased by €24 million to almost €204 million in 2024 versus 2023, a 13.5% increase.

2023 was the first year since the Merger in 2014 that there was a positive general reserve reported.

Even though several areas recorded an overspend, the funds were recouped in other areas, meaning the Council’s financial position is ‘stable’.

You can view the full breakdown here.

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