The Council was unsuccessful in bidding for Government support in December 2011, as the decision was taken to fund schemes elsewhere instead. A decision is expected later this year on funding for flooding projects.
Transport convener Councillor Lesley Hinds said: "The total cost of building existing and future flood defences for Edinburgh is at least £144m, which is well beyond our own means. While the completed scheme on Braidburn and the finished parts of the Water of Leith are providing protection, other parts of the city continue to be at risk. Recent events have shown again how important it is that we have these defences in place and I very much hope COSLA and the Scottish Government can be persuaded of the capital's case."
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The current funding arrangements are detailed in a report to the Transport, Infrastructure and Environment committee next week.
As a result, various improvements are to be made in how the Council works with other organisations to plan for and respond to major flooding incidents.
Councillor Hinds added: "Flooding can be a devastating experience for those who are affected. While our staff worked very hard to deal with the consequences of the exceptionally heavy rainfall there are always lessons to be learned for the Council, our contractors and our partners I'd also urge every household to sign-up for alerts from SEPA and follow their guidance on being prepared for flooding."
(CD)
