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Council confirms DFC funding for financial losses

10 June 2020
Derry City and Strabane District Council has confirmed that it has received notification of a £1.291m funding allocation from Department for Communities in respect of its bid for Quarter 1 financial losses.
 
This funding will be in addition to further anticipated funding allocations from DAERA for waste management losses and the Department for Communities under the Scheme of Emergency Financial Assistance and will ensure that a substantial element of the £2m reported to Council last week will be met.
 
Earlier last week, members of Derry City and Strabane District Council’s Governance and Strategic Planning Committee heard how Council is forecasting losses of £10.747m for this financial year 2020/21 and how it will be reduced by the £1.29m allocated in the Government grant and an estimated £1.25m from the furlough scheme.
 
You can read the financial report in full via the following link -
http://meetings.derrycityandstrabanedistrict.com/documents/s30537/Report%202%20COVID%2019%20Financial%20impact.pdf