Councillor Cadogan Enright’s 3 year campaign of opposition to what he has described as “excessive cash reserves” in Down District Council at the expense of the ratepayer appears to have been vindicated.
Cllr Enright, a qualified Chartered Accountant, was the only councilor to vote against the adoption of Down Districts Annual Accounts last year. At the time he claimed that the council had over-provided in its cash reserves by at least 3 to 4 million pounds.
Cadogan Enright said “following my defeat last March by a margin of 22 to 1 on this issue last year, I referred the matter to the external auditor, the audit committee and managed with the help of 2 other councilors to have the internal auditor spend time investigating this matter.”
“The council’s turnover was estimated to be £18 million this year, but cash reserves had been allowed to accumulate to well over £10 million. Ignoring specific reserves, our closing current cash balance last year was standing at £4.9 million, compared to Newry and Mourne at £0.6, Ards and Castlerea both at £1.3 and Armagh at £0.1 million. Were we to merge with Newry and Mourne as planned, this would be the equivalent of giving each person living in Newry and Mourne a present of £29 – a £2.5 million ‘hello present”. Said Cadogan.
“In addition to this, I disputed the entire provision of £3.7 million of additional reserves earmarked to decommission Drumnakelly dump. I believe we are only legally and environmentally required to provide for decommissioning for a maximum of 30 years after its closure, not the 60 proposed by management. We are also allowed to recognize the future value of income from renewable energy and, in particular electricity generated from methane at the dump. Newry and Mourne have done this and as a result only have a fraction of our reserves for the same purpose”.
“Having attended audit and strategic resource committee meetings over the last 18 months I am now certain that all technical questions about this matter have now been resolved. The bigger parties are now faced with estimates of 20 to 30% of rates increases over the next 4 years, and have been forced to come round to my point of view to be able to achieve an acceptable rates figure. We have at least £4 million is reserves available to use before the merger with Newry and Mourne.” Concluded Cllr Enright.
Cllr Cadogan Enright also thanked fellow councilors John Doris and Eamon Mac Con Midhe for their support in pursuing this matter, saying “Cllr Mac Con Midhe has proved to be an excellent Audit Committee Chairperson, not afraid to take on the experts and I am grateful for his support”.