Cork City Council agrees revenue budget of €292 million for 2024

15 November 2023

Cork City Council agreed an expenditure budget of €292 million for 2024 at the annual budget meeting this evening, an increase of approximately €24 million in spending compared to 2023.

The main contributors to the increase in expenditure are an increase in budget to homeless services of €200,000, an increase in the Capital Advance Leasing Facility/Mortgage to Rent of €10.8 million, an increase in Croí Cónaithe funding of €4.7 million, and an increase in payroll of €8.2 million.

In September 2022, Cork City Council voted that the Local Adjustment Factor (LAF) of Local Property Tax (LPT) in Cork City would vary upwards by 9%, for both 2023 and 2024.  As the LAF was set for both 2023 and 2024, no statutory meeting was required to set the LAF on LPT for 2024.

 
 Lord Mayor of Cork, Cllr. Kieran McCarthy, said:  "This budget enables Cork City Council to continue to deliver essential services but also build on the progress that has been made in achieving its strategic goals.  We make Cork a better place to live, work and invest in. Much great work has been pursued in the life of this Council across aspects such as housing, sustainable transportation, community life, climate action and in particular there has been a strong focus on creating new recreational areas.  Cork City Council’s Budget 2024 gives us the opportunity to continue this momentum."

Cork City Council Chief Executive, Ann Doherty said: “The budget provides funding measures aimed at addressing some strategically important areas and provides a reasonable balance across the competing objective of developing the social, cultural, economic, environmental and infrastructural needs of the city in a socially inclusive manner that Council is charged with progressing.”

The Elected Members voted 25 in favour of adopting the budget and 3 against.