Community group dismisses fears about its finances

A community group in Co Tipperary has said that any concerns Pobal had about its financial future are well behind it.

The Newport Development Association said that its debt has been coming down at a consistent rate and its earnings have been strong.

It said issues had arisen when it borrowed money to refurbish the local community centre but that loan was on course to be paid off ahead off time, and it only has a balance of €31,000 outstanding.

Chairman Donal Meaney said the association had no other creditors and a steady income. “Newport Development Association Ltd has no outstanding debts or liabilities, other than the stated balance on the loan, which continues to be reduced on a monthly basis and will finally be cleared well ahead of schedule.”

He said the company was in a good position looking ahead to next year.

“We appreciate the strong support the community has given to us in all our undertaking past and present. The accounts of the association are up to date and currently show the association in a sound financial position,” he said.

The association was one of a number of groups nationwide for which Pobal expressed viability concerns. The grant- awarding body has told those assessing funding applications they will have to pay greater attention to the financial situation of community groups before signing off on grants.

It said any uncertainty regarding a community group’s ability to survive should be taken into account before grants are awarded.

Among the recipients highlighted were groups which are reliant on grant funding to stay in business.