According to Irish Examiner, the Cork County Council will be inheriting a debt of nearly €97,000($132,000US) from Cobh Town Council.

The money relates largely to commemorative events held in April 2012, plus associated legal expenses, including a €20,000 administration fee charged to the event organisers operating on behalf of Cobh Town council. The deficit will pass to the county council on June 1 after the town council is abolished.

Not small change. Since nearly all the events were free, it meant the city had to come up with the money from its own pockets, donations, investments, and grants (otherwise known as tax money). The company contracted to put on many of the events, Creating Shows Ltd, is owed the €96,790, which was reduced due to grants. One Cobh councillor said the cost was “cheap” in comparison to the international exposure that Cobh got during the Titanic centenary. But the mayor has a different view:

Mayor John Mulvihill said the company “honoured its contract in full” and organised events “very professionally”. However, from a council perspective, he cautioned any future local administration to “be wise” if getting involved with similar undertakings.

Well he is quite right. They rang up quite a bill for this and it took a lot of doing to get it down to what it is now. Cheap is not the word I would use.

Source: Council Hit With €97k Titanic Events Bill(27 Feb 2014,Irish Examiner)