Magherafelt District Council's financial year runs from 1st April to 31st March. Each year the Council receives income from the following sources:

The primary legislation applicable to Councils in Northern Ireland is the Local Government Act (Northern Ireland) 1972. This legislation requires each Council to consider and approve its financial budgets ("the estimates") for the forthcoming financial year and to confirm the finances to be raised from the District Rate in the forthcoming year by a "prescribed date". The Department of the Environment sets the "prescribed date" annually, normally circa mid February.

The Council has the third lowest district domestic rate at 0.2214 of the twenty-six District Councils in Northern Ireland.

In the year ended 31^st March 2006 the Council received £4,848,188 of rates income.

Magherafelt District Council's Finance and Administration department offers services to both internal departments and the public generally.

The department is located within the Council's main offices at
50 Ballyronan Road, Magherafelt.

Click on the link below for the Magherafelt Distict Councils Statement of Accounts

Statement of Accounts 2007

Statement of Accounts 2008

Statement of Accounts 2009

Download Annual Audit Letter to 31st March 2007 -

Click here.

Download Annual Audit Letter to 31st March 2008 -

Click here.

Download Annual Audit Letter to 31st March 2009 -

Click here

The Local Government &c. (Northern Ireland) Order 1972, Articles 3, 4, 5 and Schedule 1, makes provision for payment and distribution of General Exchequer Grant (the Grant) to district Councils.

The Council's General Exchequer Grant is determined by the Department of the Environment and is outside the control of the Council.

In the year ended 31 March 2006 the Council received £2,077,990 of General Exchequer Grant.

The Council levies charges directly on the users of many of its services, notably for the following services:

• Building Control
• Commercial Waste Disposal
• Leisure Services
• Licensing and Registration

Details of individual charges levied are available direct from the relevant departments.

The Council seeks wherever possible to avail of grants from whatever source. Grants inevitably require the satisfaction of a number of conditions and the Council aspires to deliver its services in a manner which both maximises the intended service outputs and potential grant income.