Brian Stanley (Laois-Offaly, Sinn Fein)
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186. To ask the Minister for Environment, Community and Local Government the total sum of loans currently owed by local authorities. [37392/14]

Alan Kelly (Tipperary North, Labour)
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It is a matter for each local authority to manage its own finances in a prudent and sustainable manner. Under the Local Government Act 2001, a decision to borrow money is a reserved function of the elected members of a local authority. Section 106 of the Act determines that local authorities must obtain the consent of the appropriate Minister to undertake borrowing. Local authorities are asked, as an essential pre-condition to borrowing, to ensure that they achieve balanced revenue and capital accounts.

The total loans payable are taken from the latest audited Annual Financial Statements of all 88 County, City, Borough and Town Councils, which are for 2012. These have been amalgamated in the table to reflect the new 31 local authority structure.