OVER €11m in funds left in the Town Council coffers will stay in the town, Tralee Town Council Management informed councillors at the May meeting on Tuesday evening.
Tralee Town Manager, Michael McMahon, said he has received assurances from Kerry County Council management, that these monies will remain for use in the town and were “ring-fenced” for projects in Tralee, despite the fact that the accounts will be merged with the Kerry County Council account after the abolition of the Town Council.
When asked by Cllr Ted Fitzgerald (FF) how sure he was of this ringfencing, Mr McMahon replied: “Everything is tagged for Tralee. Assurances have been given by the County Manager that these capital monies raised in Tralee will be spent in Tralee.”
The assurances were widely welcomed by councillors who were concerned that these funds would be spent in other parts of the county.
The councillors also praised how the management has handled the town’s finances over the years.
The Council’s capital account showed a credit balance of €11,085,936 on December 31, 2013.