A troubled company in Waterford which receives State and European funding to the tune of €3m, has been given a clean bill of health following doubt over whether it could continue operating. Waterford City and County Council has said it is satisfied that "all financial issues" arising from the most recent published accounts for Waterford Area Partnership have been resolved and the company will be viable long-term. 'Absence of adequate financial management controls'The partnership, which employs 41 staff directly, delivers programmes aimed at alleviating deprivation in Waterford City, such as the Waterford Food Bank, and has been in difficulty since the publication of the Crowe Howarth report. "All financial issues arising from the 2018 AFS [annual financial statement] are now resolved and the directors are satisfied with the ongoing financial viability of the company," Mr Grimes said. Advocating for the one-off grant, Mr Grimes told councillors it should be approved given "the works undertaken and the costs incurred were critical in ... effectively securing the future of Waterford Area Partnership".

Source: Irish Examiner September 11, 2021 13:52 UTC