Causeway Coast & Glens Council reallocates money saved on The Open to Armed Forces Day and USA 250 event
Causeway Coast and Glens Borough Council has welcomed news that support costs for the 153rd Open in Portrush were £215,000 less than expected.
During an update report to March’s Finance Committee, members were told that Council’s Strategic Events Reserve was credited with £350,000 to support the 153rd Open Championship last July.
The report noted in-year spending accounted for just £134,790 for the Open and as there will be no further significant costs anticipated, there is now a surplus balance of around £215,210.
Members were asked to approve the reallocation of £110,000 of the surplus balance to council’s Armed Forces Day event and £100,000 for a planned USA250 event, pending confirmed budgetary requirements.
Chief Finance Officer, David Wright, explained: “That will mean that if we reallocate this money into the Events Reserve, it won’t have to be put on the rates or hit the normal day-to-day expenditure.
“We’re keeping £5,000 there for contingencies and any loose ends that come through.”
Alliance Councillor Lee Kane proposed accepting the officers’ recommendation and said the Reserve, which was initially set up to fund the Open, will be “really helpful” in supporting other events.
“We hear a lot about how much is being spent by this Council and we spent £200,000 less than what we had intended,” he noted.
“We spent £135,000, which is not an awful lot of money whenever you compare that to the return on investment that has already been shown, how much that has brought into the local economy, and how much that has supported local businesses.”