It is imperative that Stormont departments “now live within their funding envelope” following the allocation of extra funds in the January monitoring round, Finance Minister Caoimhe Archibald has said.
Following a remote meeting of the powersharing Executive, Ms Archibald said £16.9 million in resource and £53.6 million in capital funding had been shared among the departments.
But she said departments still faced “significant budgetary challenges” with demand for day-to-day resource outstripping available funding many times over.
Stormont departments face significant funding pressures, the Finance Minister has said (Liam McBurney/PA)
The in-year January monitoring round saw previously unallocated funds distributed to departments.
The Department for Communities has received £4.5 million in capital funding, the Department for Economy received £2.3 million resource and £5.4 million capital, the Department of Education received £1.5 million resource and £12.5 million capital and the Department of Finance received £200,000 in resource funding.
The Department of Health received £7.3 million in resource and £13.5 million capital, the Department for Infrastructure received £5.2 million resource and £17.6 million capital, while the Department of Justice and the Public Prosecution Service both received £100,000 in resource funding.
Some £147.7 million in ring-fenced resource funding has been allocated across departments for depreciation and impairment.
Ms Archibald said: “Despite significant in-year funding of £1 billion being provided, departments still face significant budgetary challenges.
“Demand once again outstrips funding available many times over with almost six times as many bids for day-to-day funding and three times as many bids for capital.
“£7 million has been allocated to health for use against pay, waiting lists and pressures with £13.5 million in capital funding provided for pandemic preparedness.
“£12.5 million has been allocated in capital funding towards the schools’ estate with £1.5 million in day-to-day spending for special educational needs.
“£13.6 million has been allocated to assist with infrastructure pressures while £4.5 million has been allocated for social housing new build funding and £1.5 million has been allocated for skills for life and work.”
The minister said she recognised the funding allocated would “fall short of the many pressures facing departments”.
She added: “It is imperative that each department now lives within its funding envelope set by the January monitoring round.
“I welcome the work being done by all ministers both individually and collectively to ensure we deliver a balanced budget.
“I have asked ministers if any further reduced requirements are identified that they are notified to my department at an early stage to allow them to be reallocated to other pressures.”
Ministers have previously been warned that failure to balance the overall Stormont budget for 2024/25 will see the Westminster Government withdraw a previous offer to write off almost £600 million of debt owed to the Treasury.
The Treasury offer, made by the last government, to set aside the £559 million was conditional on the Executive delivering a balanced budget this financial year.