The Local Government Fund was established in 1999 and is used to fund local authorities, primarily through Local Property Tax (LPT) allocations, which accounts for approximately 7% of LA discretionary income. While a large portion of the Local Government Fund (LGF) is made up of LPT yield, an annual contribution is made from the Exchequer towards LPT equalisation, increased Pay and Pensions costs associated with national pay agreements, miscellaneous schemes and any other exceptional allocations that may be required. From 2020 to Q1 2022, the Local Government Fund also supported local authorities and local businesses with the Covid rates waiver/credit in lieu scheme, and lost income and extra costs due to the pandemic.
The accounts of the Local Government Fund, including income and expenditure, are audited by the Office of the Comptroller and Auditor General each year. The audited accounts for 2007 to 2021 are available on my Department's website at the following link: www.gov.ie/en/collection/128be-local-government-fund-accounts/.
Please note the 2022 account is currently being finalised and will be available at the above link later this year.