THE €100,000 cost of building the People’s Park fountain has seen the Limerick Civic Trust turn a loss of more than €40,000 last year.
Figures disclosed to the Limerick Leader show the Civic Trust - which undertakes a programme of projects for the general improvements of Limerick’s environment - show a loss on ordinary activities of €42,462.
Despite the loss recorded, the income from membership subscriptions actually rose, from €38,249, to €43,269. Income generated at the Bishop’s Palace, almost doubled year-on-year-, with €32,574 generated.
Crucially however, the annual grant from Limerick City Council fell from €70,000 in 2009 to €58,424 in 2010.
Director of the Limerick Civic Trust, Dr James Ring played down the losses, saying: “We will just keep going the way we have always been going. We have had to make the cuts because we have had a 66 per cent drop in our finance. This includes membership, and grants we have had. That’s it. We keep on going. The Civic Trust is not in danger.”
During 2010, the Limerick Civic Trust received income from the Kileely Graveyard, as well as from what are classed as ‘Miscellaneous Projects’.
In terms of donations, the trust received some €28,795.