National University of Ireland, Galway
Ollscoil na hÉireann, Gaillimh
Cuntais
na bliana dar chríoch 30 Meán Fómhair, 2007
Financial statements
for year ended 30 September, 2007
Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30, Meán Fómhair, 2007
Tá gnéithe den chaiteachas Caipitiúil agus Reatha araon arna dtuairisciú sna Ráitis Airgeadais seo
maoinithe faoi cheann amháin nó níos mó de na cláir seo a leanas arna riaradh ag an UAO.
Elements of both Capital and Recurrent expenditure reported in these Financial Statements, have been funded under
one or more of the following programmes administered by the HEA
Funded under PRTLI
Administered by the HEA
Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
CLÁR | Table of Contents
Ráiteas Dualgas
Statement of Responsibility
Tuarascáil an Sparánaí
Bursar’s Report
Tuarascáil ó na hIniúchóirí Bainistíochta Neamhspléacha
Report of the Independent Management Auditors
Ráiteas ar Pholasaithe Cuntasaíochta
Statement of Accounting Policies
2
22
3-5
23 - 24
6
25
7-9
26- 28
CUNTAIS | Accounts
Ioncam agus Caiteachas Reatha Income and Expenditure
Clár Comhardaithe Balance Sheet
Ráiteas faoin Sreabhadh Airgid Cash Flow Statement
Nótaí faoi na Cuntais Notes to the Accounts
1
10
11
12
13 - 21
Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
Ráiteas Dualgas
Caithfidh an Ollscoil gach cuntas cuí agus gnásúil a fhaightear agus a chaitear, a choinneáil i gcibé
foirm a theastóidh ón gcomhaontú maidir le Comhchuibhriú Cuntas Airgeadais arna ghlacadh ag
gach Ollscoil in Éirinn. Agus na cuntais sin á n-ullmhú ag an Ollscoil, éilítear uirthi:
•
•
•
Beartais chuntasaíochta chuí a roghnú a bheidh de réir an chomhaontaithe maidir le
Comhchuibhriú Cuntas Airgeadais agus iad a chur i bhfeidhm go leanúnach;
Breithiúnais agus meastacháin a dhéanamh atá réasúnach agus ciallmhar;
Na ráitis airgeadais a ullmhú ar bhonn gnóthais leantaigh ach amháin mura cuí an
bonn sin.
Tá an Ollscoil freagrach as leabhair chuí chuntais a choimeád a insíonn tráth ar bith stádas
airgeadais na hOllscoile agus a chuireann ar a cumas a chinntiú go n-ullmhófar a ráitis airgeadais
de réir an chomhaontaithe maidir le Comhchuibhriú Cuntas Airgeadais. Tá an Ollscoil freagrach
freisin as sócmhainní ar fad na hOllscoile faoina rialú oibríochtúil a chosaint agus dá bhrí sin as
céimeanna réasúnacha a ghlacadh chun calaois agus neamhrialtachtaí eile a chosc agus a bhrath.
Ullmhófar sraith eile ráitis airgeadais le comhlíonadh agus beidh siad de réir prionsabail
chuntasaíochta a nglactar leo go coitianta in Éirinn agus sa Ríocht Aontaithe cé go n-ullmhaítear
na ráitis airgeadais seo don Údarás um Ard-Oideachas de réir an chomhaontaithe maidir le
Comhchuibhriú Cuntas Airgeadais.
Ullmhaíodh na ráitis airgeadais de réir théarmaí an ráitis airgeadais roimhe seo agus rinne
PricewaterhouseCoopers, iniúchóirí bainistíochta na hOllscoile, iniúchadh orthu.
Ba chóir a thabhairt faoi deara gurb é an tArd-Reachtaire Cuntas agus Ciste iniúchóir reachtúil na
hOllscoile.
Ar son Údarás na hOllscoile
____________________________
Uachtarán
22 Aibreán, 2008
2
Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
Tuarascáil an Sparánaí
Ráitis Airgeadais
Ullmhaíodh na ráitis airgeadais seo faoi réir na mbeartas cuntasaíochta a leagtar amach sna nótaí
ar leathanaigh 7 go 9 agus ar leathanaigh 26 go 28, beartais a d’aontaigh an earnáil agus an
tÚdarás um Ard-Oideachas orthu i 1997/98. Dá réir sin, tugann siad léargas ar phríomhróil
oideolaíocha agus taighde na hOllscoile, agus tagraítear do ghníomhaíochtaí coimhdeacha i nóta
14 ar leathanach 16. Ina theannta sin, ullmhaíonn an Ollscoil sraith ráiteas airgeadais oiriúnach de
chleachtais chuntasaíochta choitianta ar cheart tagairt a dhéanamh dóibh nuair is cuí, bunaithe ar
riachtanais an léitheora. Tugann leagan Chleachtais Chuntasaíochta Choitianta Ráitis Airgeadais
na hOllscoile 2007 léargas ar sheasamh airgeadais i bhfad níos measa de bharr aitheantas iomlán a
thabhairt d’easnaimh an Chiste Pinsin faoi FRS 17 - is é an tionchar atá aige sin easnamh de
€165M a áireamh sa chiste pinsin.
Léirítear dáiríreacht an scéil le bunú Comhghrúpa Oibre Pinsin Chumann Ollscoileanna
Éireann/an Údaráis um Ard-Oideachas atá ag obair i gcomhar leis na ranna Rialtais ábhartha, agus
é mar aidhm cheist na bpinsean a chur ina cheart.
Torthaí
Cúis aifeála dom a chur in iúl arís go raibh an táirgeacht díreach mar a bhí súil léi, sa mhéid is go
bhfuil easnamh d’ioncam athfhillteach thar chaiteachas – €10.2M – le sonrú sna cuntais. I measc
na gcúiseanna a d’fhéadfadh a bheith leis an easnamh seo tá gearradh siar in earnáil na nDeontas
Stáit Athfhillteach agus costais ag teacht chun cinn de dheasca na nAchtanna um Chosaint
Fostaithe, go háirithe soláthar do chostais phinsin do chomhaltaí foirne páirtaimseartha agus ar
téarma socraithe – comhaltaí foirne neamhlárnacha. Is é seo an ceathrú bliain as a chéile a raibh
caiteachas athfhillteach na hOllscoile níos mó ná an t-ioncam athfhillteach agus ní féidir leanúint
leis an treocht seo, gan damáiste dáiríre a dhéanamh do chumas na hOllscoile a plean straitéiseach
a chur i bhfeidhm.
Sna cuntais tugtar léargas ar an gcóimheas seanbhunaithe idir pá athfhillteach agus costais
neamhphá – cóimheas 65/35 – mar aon leis an gcaiteachas athfhillteach, taighde agus caipitil ag
€226M; suim a thugann léargas dúinn ar an méid shuntasach airgid atá á cur ar fáil don gheilleagar
áitiúil, réigiúnach agus náisiúnta.
Clár Comhardaithe
Bunaithe ar threocht leanúnach na n-easnamh athfhillteach bhí easnamh athfhillteach carnach de
€29M i Meán Fómhair 2007 – rud a imríonn tionchar diúltach ar an gclár comhardaithe agus, más
rud é go dteastóidh íocaíochtaí (seachas soláthairtí) i ndáil le Pinsin faoin Acht um Chosaint
Fostaithe, teastóidh iasachtaí móra chun na heasnaimh seo a mhaoiniú.
Conclúid
Is cinnte go bhfuil dúshláin shuntasacha airgeadais le sárú ag an Ollscoil sa ghearrthréimhse agus
sa mheántréimhse. Eascraíonn na dúshláin seo ón neamhchinnteacht a bhaineann le ceisteanna
leanúnacha pinsin dá dtagraítear thuas. Chomh maith leis sin, teipeann ar leibhéil mhaoiniúcháin
Rialtais a bheith ar aon dul le boilsciú, gan trácht ar riachtanais phráinneacha infreastruchtúracha
na hOllscoile.
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Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
Tuarascáil an Spáranaí ar lean
Tá súil ghéar á coimeád ar chaiteachas agus táthar ag leanúint leis an obair a bhaineann le sruthanna
nua agus nuálaíocha ioncaim a aimsiú, ar mhaithe le rath leantach na hOllscoile a chinntiú agus ar
mhaithe le tacú le cur i bhfeidhm leanúnach phlean straitéiseach na hOllscoile.
Mary C. Dooley, FCA, MBA,
Sparánaí
22 Aibreán, 2008
4
Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
Ioncam Reatha 2006-2007
•
Deontais Stáit
€68.3m
36%
•
Táillí na Macléinn €63.2m
33%
•
Deontais Taighde €44.6m
23%
•
Ioncaim Eile
8%
€14.7m
Tá ioncam iomlán na bliana 10% níos mó ná an t-ioncam a tuairiscíodh anuraidh. Léiríonn sé sin
méaduithe ar tháillí mac léinn agus ar Dheontais Stáit. Léiríonn ioncam ó Thionscadail agus deontais
taighde méadú de 13.5% i rith na bliana.
Caiteachas Reatha 2006-2007
• Acadúla
€146.7m
73%
• Foirgnimh
€32.6m
16%
• Riarachán
€13.5m
7%
• Seirbhísí Macléinn €5.0m
2%
• Eile
2%
€3.2m
Tháinig méadú de 11% ar an gcaiteachas.
Caiteachas Caipitil 2006-2007
• Foirgnimh
€20.7m
81%
• Trealamh
€4.7m
19%
Léiríonn na cuntais a ndearnadh iniúchadh orthu caiteachas caipitil de €25.4m i rith na bliana, a
mhiondealaítear ina €20.7m ar fhoirgnimh agus agus €4.7m ar threalamh.
Deontais Caipitil 2006-2007
• ÚAO
€2.9m
15%
•
€16.3m
85%
Neamhspléach
€19.2m a cuireadh chun sochair le linn na bliana agus miondealaítear thuas foinsí na suime sin.
5
Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
Tuarascáil ó na hIniúchóirí Bainistíochta Neamhspléacha
Chuig baill Údarás na hOllscoile, Ollscoil na hÉireann, Gaillimh.
Tá iniúchadh déanta againn ar na ráitis airgeadais ar leathanaigh 7 go 21.
Freagrachtaí na hOllscoile agus Freagrachtaí na nIniúchóirí
Tá an Ollscoil, faoi mar a leagtar amach ar leathanach 2, freagrach as na ráitis airgeadais a chur le chéile
faoin gcomhaontú um Chomhchuibhriú Cuntas Ollscoileanna. Is fúinne atá sé na ráitis airgeadais sin a
iniúchadh de réir na gcaighdeán iniúchóireachta arna n-eisiúint ag Bord na gCleachtas Iniúchóireachta –
cleachtais a bhfuil feidhm leo in Éirinn.
Is do bhaill Údarás na hOllscoile agus dóibhsean amháin, mar chomhlacht faoi réir ár gceapacháin, a
cuireadh an tuarascáil, móide an tuairim, seo le chéile. Ní ghlacfaimid, ná ní ghéillimid, freagracht, agus
an tuairim seo á tabhairt againn, as aon cuspóir eile ná as aon duine eile dá dtaispeántar an tuarascáil seo nó
as aon duine eile a thiocfadh i seilbh na tuarascála seo, ach amháin sa chás gur le cead sainráite scríofa
uainne a tharlaíonn a leithéid.
Tuairiscimid duit an tuairim atá againn cibé ar ullmhaíodh na Ráitis Airgeadais go cuí agus de réir an
Chomhaontaithe um Chomhchuibhriú Cuntas Ollscoileanna – comhaontú a nglacann gach Ollscoil in
Éirinn leis. Luaimid cibé an bhfuil an fhaisnéis agus na míniúcháin uile is gá chun críche na
hiniúchóireachta faighte againn agus cibé an dtagann na Ráitis Airgeadais leis na leabhair chuntais.
Tuairiscimid freisin cibé ar choinnigh an Ollscoil leabhair chuntais chuí, dar linn.
Bunús na Tuairime
Rinneamar an t-iniúchadh ar na ráitis airgeadais don bhliain dar chríoch an 30 Meán Fomhair 2007 de réir
na gCaighdeán Iniúchóireachta a d’eisigh Bord na gCleachtas Iniúchóireachta. Mar chuid den iniúchadh
déantar scrúdú, ar bhonn tástála, ar fhianaise a bhaineann leis na suimeanna agus an faisnéisiú a bhíonn sna
ráitis airgeadais. Áirítear air, freisin, measúnú ar mheastacháin shuntasacha agus breithiúnais a rinne an
Ollscoil agus na ráitis airgeadais á n-ullmhú agus cibé an oireann na beartais chuntasaíochta do chúinsí na
hOllscoile, cibé an gcuirtear i bhfeidhm go leanúnach iad agus cibé an ndéantar faisnéisiú orthu mar is cuí.
Phleanálamar agus rinneamar ár n-iniúchadh chun gach faisnéis agus míniúcháin a bhailiú – faisnéis agus
míniúcháin a mheastar a bheith riachtanach chun fianaise leordhóthaineach a chur ar fáil dúinn d’fhonn
dearbhú réasúnach a thabhairt go bhfuil na ráitis airgeadais saor ó mhíráiteas ábhartha, bíodh sin de bharr
calaoise nó neamhrialtachta nó earráide. Agus sinn ag teacht ar thuairim, rinneamar measúnú ar
leordhóthanacht chur-i-láthair na faisnéise sna ráitis airgeadais tríd is tríd.
An Tuairim
Is é an tuairim atá againn i leith ráitis airgeadais na hOllscoile don bhliain dar chríoch an 30 Meán Fómhair
2007 ná gur ullmhaíodh mar is cuí iad de réir an Chomhaontaithe um Chomhchuibhriú Cuntas.
Fuaireamar gach faisnéis agus gach míniú a mheasamar a raibh gá leo chun an t-iniúchadh a dhéanamh. Is
é an tuairim atá againn ná gur choimeád an Ollscoil leabhair chuntais chuí. Tá na ráitis airgeadais ag teacht
leis na leabhair chuntais.
PricewaterhouseCoopers
Cuntasóirí Cairte agus Iniúchóirí Cláraithe
Luimneach
22 Aibreán, 2008.
6
Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
Ráiteas ar Pholasaithe Cuntasaíochta
A
Ráitis Airgeadais
Tugann na ráitis airgeadais léiriú ar theagasc, taighde agus gníomhaíochtaí seirbhíse atá bainteach
leis an Ollscoil. Déantar ráitis airgeadais maidir le Ciste Pinsean na hOllscoile agus gníomhaíochtaí
coimhdeacha neamhspléacha airgeadais a chur i láthair astu féin.
B
Coinbhinsiún Cuntasaíochta
Ullmhaítear na Ráitis Airgeadais faoin gcoinbhinsiún costais stairiúil, arna mhionathrú chun
athluacháil ar thalamh agus ar fhoirgnimh a chur san áireamh. Cuirtear i láthair iad de réir an
chomhaontaithe reatha um Chomhchuibhiú Ráiteas Airgeadais arna ghlacadh le haghaidh gach
Ollscoile Éireannaí.
C
Deontais Stáit i gcomhair Caiteachas Reatha
Áirítear deontais reatha ar bhunús fabhruithe. Tá an Deontas Reatha a úsáidtear i gcomhair
sócmhainní dochta a cheannach aistrithe go dtí an cúlchiste ginearálta.
D
Deontais Stáit i gcomhair Caiteachas Caipitiúil
Áirítear sna ráitis airgeadais na deontais stáit atá ceadaithe ag an ÚAO do chaiteachas caipitiúil den
tréimhse de réir an méid airgid a fritheadh.
E
Ioncam Táillí
Déantar ioncam táillí a mheas ar bhunús fabhruithe agus déantar é a thuairisciú ag leibhéil táillí an
Aontas Eorpaigh. Áirítear ioncam táillí Neamh-Aontas Eorpaigh suas go dtí leibhéal an Aontais
Eorpaigh agus déantar aon fhuílleach (suas go dtí an tAonad Costas déanaí is mó a mbaineann sé
leis) a thuairisciú faoi Ioncam Ilghnéitheach. Áirítear aon fhuílleach atá os cionn an Aonaid Costais
is déanaí a mbaineann sé leis faoi sheirbhísí coimhdheacha.
F
Leithdháiltí Ceadaithe
Tá an cuntas ioncam agus caiteachas ullmhaithe ar bhunús fabhruithe cé is móite de na heisceachtaí
seo a leanas:
(i)
(ii)
Caiteachas neamhphá na ranna acadúla agus ranna seirbhísí éagsúla agus ioncam na ranna
seo nuair is ann dó.
Trealamh roinne agus mionoibreacha.
Sna cásanna seo, tá na fuílligh inmheánacha tugtha chuig an Chlár Chomhardaithe faoi
"Sócmhainní Reatha nó Dliteanais", mar is cuí.
7
Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
Ráiteas ar Pholasaithe Cuntasaíochta, ar lean
G
Sócmhainní Dochta agus Dímheas
Tá na Sócmhainní Dochta ar fad luaite de réir a gcostas stairiúil ach amháin talún agus foirgnimh.
Tá foirgnimh a bhí tógtha ag 30.9.98 athluacháilte go hinmheánach, ar bhonn indibhidiúil, ag an
luach reatha athsholáthair, lúide an dímheas a bhaineann leo. Tá na foirgnimh a thógtar le linn na
bliana luaite ag a gcostas stairiúil ar an mbunús go mairfidh siad caoga bliain. Tá talamh
athluacháilte go hinmheánach ar bhunús úsáid reatha.
Is mar seo a leanas a meastar an t-achar a sheasann úsáid na sócmhainní dochta de réir mar a
áirítear dímheas ar bhunús dronlíneach.
Foirgnimh:
Trealamh Ríomhaireachta:
Trealamh Eile
Níl dímheas i gceist i gcás talún
H
50 bliain
3 bliana
5 bliana
Cúlchiste Ginearálta
Léiríonn an Cúlchiste Ginearálta luach an chistiúchán atá iarrtha i gcomhair réamhchúraim
caipiteal, tar éis amúchtha i gcomhréir le dímheas, maraon le fuílleach ar ghníomhaíochta seirbhíse
coimhdheacha.
I
Deontais Thaighde agus Thionscadail
Taispeáintear caiteachas taighde conartha glan ó ranníocaíocht go costais indíreacha. Áirítear
ioncam ó dheontais thaighde chonartha sa Chuntas Ioncam agus Caiteachas de réir costas an
chaiteachais a bhain leis. Áirítear ranníocaíocht taighde conartha go costais indíreacha na
hOllscoile faoi Ioncam Eile. Áirítear sócmhainní dochta maoinithe trí Dheontais Taighde faoi
‘Sócmhainní Dochta’ sa Chlár Chomhardaithe.
J
Airgead Coigríche
Aistrítear ioncam agus caiteachas ainmnithe in airgid coigríche de réir na rátaí malairte atá i réim ar
dhátaí na hidirbheartaíochta. Aistrítear sócmhainní agus dliteanais ainmnithe in airgid coigríche go
Euro de réir na rátaí malairte atá i réim ar dháta an Chláir Chomhardaithe. Déileáiltear le haon
bhrabúis nó caillteanais a bhíonn ann dá thoradh seo taobh istigh den chuntas ioncam.
K
Cánachas
Níl aon soláthairtí déanta do chánachas mar go bhfuil stádas saor ó cháin ag an Ollscoil.
L
Seirbhísí Coimhdheacha
Is seirbhísí coimhdheacha na seirbhísí (nach bhfuil áirithe faoi ghnó comhlachta) a chuirtear ar fáil
ar an gcampas ar bhunús costas téarnamh agus atá pleanáilte le briseadh cothrom sa meántéarmach.
Airítear ioncam infheistíochta ar an chúlchiste forbartha bonneagar faoin teideal seo freisin.
Aistrítear an glanthoradh ar na gníomhaíochtaí seo go dtí an Cuntas Cúlchiste Ginearálta.
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Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
Ráiteas ar Pholasaithe Cuntasaíochta, ar lean
M.
Pinsin
Feidhmíonn an Ollscoil scéimeanna sochair shainithe, ranníocaíochta sonraithe agus PRSA pinsin,
mar is cuí, agus sócmhainní coimeádta i gcistí riartha ar leith.
I gcás na scéimeanna sochair shainithe, bíonn pinsin bhunúsacha scoir fhoireann na hOllscoile
maoinithe ag ranníocaíochtaí chuig Ciste Pinsin na hOllscoile ("an ciste pinsin") ag ráta
réamhbheartaithe de phá inphinsin. Cuirtear arduithe i bpinsin bhunúsacha scoir de mhuirear ar
chuntas Ioncaim agus Caiteachais na hOllscoile. Cuirtear ranníocaíochtaí fostóirí chuig an scéim
sochair shainithe de mhuirear ar chuntas ioncaim agus caiteachais na hOllscoile chomh maith, mar
aon le costais tuarastail agus phá na bhfostaithe. Ullmhaítear ráitis airgeadais ar leith don Chiste
Pinsin sochair shainithe.
N
Stoc
Úsáidtear costas nó an luach readtha glan, pé díobh is lú, agus is earraí inchaite saotharlainne,
stáiseanóireacht agus ábhair fhoirgnimh an chuid is mó daoibh.
O
Infheistíochtaí
Tá infheistíochtaí luaite ag a gcostas stairiúil.
9
Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
Ioncam agus Caiteachas | Income and Expenditure
Ioncam | Income
2007
€’000
2006
€’000
68,303
63,289
14,676
61,689
58,476
13,878
146,268
134,043
44,507
39,206
190,775
173,249
76,352
16,024
22,952
9,653
13,490
4,965
5,585
3,280
73,754
14,984
20,189
2,857
12,054
4,219
5,458
3,155
152,301
136,670
48,692
42,628
200,993
179,298
Nóta
Note
Deontais Stáit State Grants
Táillí na Mac Léinn Student Fees
Ioncaim Eile Other Income
1
2
3
Deontais Taighde agus Tionscnaimh Research Grants and Projects
4
Iomlán Total
Caiteachas | Expenditure
Rannóga Acadúla Academic Departments
Seirbhísí Acadúla Academic Services
Foirgnimh Premises
Tograí Foirgníochta agus Trealaimh Building and Equipping Projects
Riarachán Administration
Costais Eile Oideachais General Educational Expenditure
Áiseanna agus Conláistí Facilities and Amenities
Costais Ilghnéitheacha Miscellaneous Expenditure
5
6
7
8
9
10
11
12
Deontais Taighde agus Tionscnaimh Research Grants and Projects
Iomlán Total
13
Easnamh ar ghníomhaíochtaí roimh dhíscríobh Cúlchistí
Deontais Caipitil, Seirbhísí agus Coimhdeacha agus Dímheas
Deficit on activities before amortisation of Capital Reserves and Grants, ancillary
services and depreciation
Breis ar Sheirbhísí Coimhdeacha Surplus on Ancillary Services
Dímheas Depreciation
Gluaiseacht sa Chúlchiste Ginearálta General Reserve Movement
Easnamh don Bhliain Deficit for year
14
15
16
(10,218)
(6,049)
3,226
(19,253)
16,027
3,583
(19,003)
15,420
(10,218)
(6,049)
Is cuid de na cuntais seo an Ráiteas ar Pholasaithe Cuntais, an Ráiteas faoin Sreabhadh Airgid agus Nótaí 1 go 26.
The statement of Accounting Policies, Cash Flow Statement and Notes 1 to 26, form part of these Accounts
Síniú _____________________________________
______________________
Oifigeach Cuntasaíochta/Uachtarán Accounting Officer/President
Meabhránaí Registrar
10
Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
Clár Comhardaithe | Balance Sheet
2007
€’000
2006
€’000
Nóta
Note
Sócmhainní Dochta Fixed Assets
Infheistíochtaí Investments
17
24
297,241
37,206
290,996
36,353
334,447
327,349
40,954
45,843
197
21,692
44,124
182
86,994
65,998
135,978
111,040
(48,984)
(45,042)
(24,954)
(25,019)
260,509
257,288
Sócmhainní Reatha Current Assets
Fuílligh sna Bainc agus Airgead Bank Balances and Cash
Feichiúnaithe agus Réamhíocaíochtaí Debtors and Prepayments
Stoc Stock
18
Dliteanais Reatha Current Liabilities
Creidiúnaithe agus Caiteachas Fabhraithe níos lú ná bliain amháin
Creditors and Accrued Expenditure less than one year
19a
Dliteanas Reatha Glan Net Current Liabilities
Creidiúnaithe agus Caiteachas Fabhraithe níos mó ná bliain amháin
Creditors and Accrued Expenditure more than one year
19b
Sócmhainní Iomlána Glan Total Net Assets
Arbh iad seo a bhfoinsí Represented by
Cúlchiste Ginearálta General Reserve
20
289,922
276,483
Cúlchíste Easnamh Current Deficit
21
(29,413)
(19,195)
260,509
257,288
Is cuid de na cuntais seo an Ráiteas ar Pholasaithe Cuntais, an Ráiteas faoin Sreabhadh Airgid agus Nótaí 1 go 26.
The Statement of Accounting Policies, Cash Flow Statement and Notes from 1 to 26 form part of these Accounts.
Síniú _________________________________________
Oifigeach Cuntasaíochta/Uachtarán
Accounting Officer/President
11
___________________
Meabhránaí Registrar
Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
Ráiteas faoin Sreabhadh Airgid | Cash Flow Statement
€’000
Glan insreabhadh/(eis-sreabhadh) airgid ó ghníomhaíochtaí
oibrithe (Nóta 22)
Net Cash inflow /(outflow) from Operating Activities (Note 22)
2007
€’000
€’000
2006
€’000
13,968
(21,325)
2,616
1,616
Toradh ar Infheistíocht agus Fónamh Airgeadais
Return on Investment and Servicing of Finance
Ús faighte glan Net Interest Received
Glan eis-sreabhadh airgid ó ghníomhaíochtaí infheistithe
Net Cash Outflow from Investment Activities
Caiteachas ar thionscnaimh chaipitil
Expenditure on Capital Projects
19,166
25,487
Gluaiseacht Infheistíochtaí Investment movement
853
Glan eis-sreabhadh airgid roimh mhaoiniú
(26,340)
937
(39,812)
(9,756)
Net Cash outflow before Financing
(20,103)
Maoiniú Financing
Aistriú ó Ioncam agus Caiteachas
Transfer from Income and Expenditure
9,653
2,857
Deontais Caipitil ÚAO HEA Capital Grant
2,995
7,286
16,370
12,885
Deontais Caipitil Neamh ÚAO Non HEA Capital Grant
Glan insreabhadh airgid ó mhaoiniú Net Cash inflow from financing
29,018
23,028
Glan insreabhadh/(eis-sreabhadh) tar éis maoiniú
19,262
(16,784)
Méadú/(Laghdú) ar airgead agus a chomhionann (Nóta 23)
Increase/(Decrease) in cash and cash equivalents (Note 23)
19,262
(16,784)
Net inflow /(outflow) after financing
12
Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
Nótaí faoi na cuntais | Notes to the Accounts
1.
2.
2007
2006
Deontais Stáit State Grants
€’000
€’000
Deontais Reatha Recurrent Grants
Cistiú Sprioctha do Thionscnaimh Speisialta
Targeted Funding for Special Initiatives
Mion Oibreacha Minor Works
61,211
6,992
56,012
5,577
100
100
68,303
61,689
62,957
332
57,979
497
63,289
58,476
Táillí na Mac Léinn Student Fees
Táillí Acadúla Academic Fees
Táillí Ilghnéitheach Miscellaneous Fees
3.
Ioncam Ilghnéitheach Miscellaneous Income
Ús Saothraithe Interest Receivable
Poist Mhaoinithe Funded Posts
Cíos srl. Rent etc.
Deontais Taighde Research Grants
Táillí Neamh AE Non EU Fees
Ioncam ó Infheistíochtaí Income from Investments
Ioncam Eile Other Income
13
2,647
1,286
364
5,288
2,714
117
2,260
1,616
1,542
244
6,508
1,649
471
1,848
14,676
13,878
Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
Nótaí faoi na cuntais, ar lean | Notes to the Accounts cont’d
Pá
Pay
€’000
4.
€’000
18,353
3,141
20,628
2,385
38,981
5,526
34,370
4,836
21,494
23,013
44,507
39,206
54,334
5,638
6,148
66,120
54,334
5,638
6,148
50,371
7,294
5,495
9,853
9,853
10,233
379
379
361
10,232
76,352
73,754
Seirbhísí Acadúla Academic Services
An Leabharlann Library
Seirbhísí Ríomhaireachta Computer Services
An Teanglann Language Centre
Acraí Teagaisc Audio Visual Centre
Míocrascóp Leictreon Electron Microscopy Unit
Gaeilge Labhartha Spoken Irish
Ceangail na Tionscolaíocht Technology Transfer
Eolaíocht Mhara Marine Science
An tIonad un Fheabhas Foghlama agus Teagaisc
Centre for Excellence in Learning &Teaching
Oifig Feabhais Quality Office
7.
2006
Rannóga Acadúla Academic Departments
Acadúil Academic
Teicniúil Technical
Riarachán agus Rúnaíocht
Administration and Secretarial
Deontais Rannóga Acadúla
Academic Department Grants
Ilchostais Miscellaneous
6.
2007
Iomlán
Total
€’000
Deontas Taighde agus Tionscnaimh Research Grants and Projects
Deontais Taighde Research Grants
Tionscnaimh Eile Other Projects
5.
N/Phá
Non Pay
€’000
Foirgnimh
3,792
2,626
30
(25)
2,069
427
27
734
2,639
1,970
39
120
34
370
354
52
290
6,431
4,596
69
95
34
2,439
781
79
1,024
5,982
4,045
92
104
20
2,430
866
66
1,063
333
143
476
316
10,013
6,011
16,024
14,984
4,489
2,625
9,054
2,149
100
756
751
3,028
13,543
4,774
100
756
751
3,028
11,900
4,141
100
644
757
15,838
22,952
20,189
Premises
Cúram Foirgneamh Premises Maintenance
Seirbhísí Ginearálta General Services
Mion Oibreacha Minor Works
Cíos agus Rátaí Rent and Rates
Árachas Insurance
Costas Fuinnimh Energy Costs
7,114
14
2,647
Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
Nótaí faoi na cuntais, ar lean | Notes to the Accounts cont’d
8.
N/Phá
Non Pay
2007
Iomlán
Total
2006
Pá
Pay
€’000
€’000
€’000
€’000
7,826
1,827
7,826
1,827
2,857
9,653
9,653
2,857
8,842
2,275
205
2,168
11,117
205
2,168
10,321
169
1,564
8,842
4,648
13,490
12,054
356
2,184
1,912
2,184
1,747
1,655
487
382
487
382
496
321
3,409
4,965
4,219
599
599
1,041
705
662
996
679
576
499
160
526
63
120
1,204
822
1,522
742
696
740
758
1,659
699
561
3,618
1,967
5,585
5,458
108
3,172
108
3,151
4
108
3,280
3,155
Tograí Foirgníochta agus Trealaimh Building and Equipping Projects
Foirgníocht Building
Trealamh Equipment
9.
Riarachán Administration
Seirbhísí Riarachán Administrative Services
Táillí Gairmiúla Professional Fees
Ilchostais Miscellaneous
10.
Costais Eile Oideachais General Educational Expenditure
Scrúduithe Examinations
Scoláireachtaí/Comhaltaí Iarchéime
Scholarships/Postgraduate Fellowships
Tobhach Ollscoil na hÉireann NUI Levy
Ilghnéitheach Miscellaneous
1,556
1,556
11.
Áiseanna agus Conláistí Facilities and Amenities
Deontas Ceannsraithe agus Eile
Capitation and Other Grants
Seirbhísí na Mac Léinn Student Services
Oifig na gCeapachán Careers Office
Cláracha Insroichteach Access Programmes
Spórt agus Caitheamh Aimsire Sport and Recreation
Sláinte agus Comhairleoireacht
Health and Counselling
12.
-
Costais Ilghnéitheacha Miscellaneous Expenditure
Pinsin Bhreise Additional Pensions
Difríocht Malairte Exchange Differences
3,172
3,172
15
Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
Nótaí faoi na cuntais, ar lean | Notes to the Accounts cont’d
13.
N/Phá
Non Pay
2007
Iomlán
Total
2006
Pá
Pay
€’000
€’000
€’000
€’000
Caiteachas Iomlán Total Expenditure
Seirbhísí Acadúla agus Seirbhísí Gaolmhara
Academic and Related Services
Deontais Taighde agus Tionscaimh
Research Grants and Projects
100,435
51,866
152,301
136,670
25,679
23,013
48,692
42,628
200,993
179,298
2007
Breis
Surplus
2006
€’000
€’000
3,051
175
3,411
172
3,226
3,583
126,114
14.
74,879
Seirbhísí Coimhdheacha - Athchoimre Ancillary Services - Summary
Ioncam
Caiteachas/
Income Leithdháileadh
Expenditure/
Allocation
€’000
€’000
Lonadóireacht Catering
Seirbhísí Cóipeála Copying Services
Cuntas Forbartha Development Fund
Ioncam infheistíochta ar Chiste Forbartha
Investment Income on Development Fund
15.
3,356
322
3,051
175
3,356
322
6,904
3,678
Dímheas ar Sócmhainní Dochta Depreciation of Fixed Assets
Foirgneamh Buildings
Trealamh Equipment
16.
2007
€’000
2006
€’000
10,205
9,048
9,877
9,126
19,253
19,003
Gluaiseacht sa Chúlchiste Ginearálta (Nóta 20) General Reserve Movement
Amhúchadh i gcomhréir le dímheas Amortisation in line with depreciation
Breis ar Sheirbhísí Coimdheacha ó loncam agus Caiteachas
go Cúlchiste Ginearálta
Surplus of Ancillary Services from Income and Expenditure to General Reserve Account
16
(19,253)
3,226
(19,003)
3,583
(16,027)
(15,420)
Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
Nótaí faoi na cuntais, ar lean | Notes to the Accounts cont’d
17.
Sócmhainní Dochta Fixed Assets
Talamh agus Obair chaipitil
Foirgnimh
atá ar súil
Land & Buildings Capital WIP
€’000
€’000
Trealamh
Equipment
€’000
2007
Iomlán
Total
€’000
2006
€’000
Costas/Luacháil ag tús na bliana
Cost/Valuation at start of year
Costas Cost
Luacháil Valuation
162,994
189,709
3,052
-
81,399
-
247,445
189,709
228,279
189,709
Iomlán Total
352,703
3,052
81,399
437,154
417,988
11,622
-
9,114
-
Costas Cost
Luacháil Valuation
174,616
189,709
12,166
-
86,150
-
272,932
189,709
247,445
189,709
Iomlán Total
364,325
12,166
86,150
462,641
437,154
84,714
61,444
(11)
9,048
146,158
(11)
19,253
127,155
10,205
-
94,919
-
70,481
165,400
146,158
Luacháil glan leabhair ag tús
267,989
3,052
19,955
290,996
290,833
Luacháil glan leabhair ag deireadh
269,406
12,166
15,669
297,241
290,996
Breiseanna ag Costas Additions at Cost
Diúscairtí sa Bhliain Disposals in year
Athchatagóiriú Recategorisation
4,762
(11)
-
25,498
(11)
-
50,781
(31,615)
Costas/Luacháil ag Deireadh
Cost/Valuation at End
Dímheas Depreciation
Ag tús na bliana At start of year
Dímheas Charntha Díscríofa
Dímheas don bhliain Depreciation for year
Dímheas ar Dhiúscairtí
Depreciation on Disposals
Ag deireadh na bliana At end of year
Net book value at start
Net book value at end
17
19,003
Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
Nótaí faoi na cuntais, ar lean | Notes to the Accounts cont’d
18.
2006
€’000
42,104
268
2,960
511
32,921
296
8,454
2,453
45,843
44,124
60,053
11,925
16,347
1,967
43,960
1,726
51,366
7,773
13,879
695
37,327
-
135,978
111,040
24,954
25,019
Féichiúnaithe agus Réamhíocaíochtaí Debtors and Prepayments
Caiteachas Taighde Research Expenditure
Iasachtaí Tithíochta na Foirne Staff Housing Loans
Ilfhéichiúnaithe agus Réamhíocaíochtaí Debtors and Prepayments
Fuílligh idir Chuideachtaí Inter Company Balances
19.
2007
€’000
Creidiúnaithe Creditors
19a. Níos lú ná bliain amháin/Less than one year
Deontais Taighde Neamhchaite Research Grants Unexpended
Deontais Rialtais Faighte Roimhré State Grants received in advance
Taillí Acadúla Faighte Roimhré Academic Fees received in advance
Fuílligh Inmheánacha Internal Balances
Creidiúnaithe Eile agus Costais Dlite Other Creditors and Accruals
Fuílligh idir Chuideachtaí Inter Company Balances
19b. Níos mó ná bliain amháin/More than one year
Ceannach Maoine ar ais (Alt 843) Buy-back of property (Section 843)
20.
Cúlchistí Ginearálta General Reserve
Fuílleach
ag tús
Opening
Balance
€’000
Luacháil - Talamh agus Foirgnimh
Valuation – Land and Buildings
Deontas Caipitil on ÚAO
Capital Grant from HEA
Cuntas Ioncam agus Caiteachas
Income and Expenditure Account
Deontais Caipitil Neamhspléach
Independent Capital Grants
Eile (Aistriú faoi Seirbhísí Coimhdheacha san áireamh)
Other (Transfer from Ancillary Services included)
Amúchadh go Cuntas Ioncam agus Caiteachas
Amortisation to Income and Expenditure Account
Amúchadh Carntha ar Dhiúscairtí
Accumulated amortisation on disposals
18
Athrú sa
Fuílleach
Bhliain
ag Deireadh
Closing
Current Year
Balance
Movement
€’000
€’000
189,709
-
189,709
84,484
2,995
87,479
31,790
9,653
41,443
100,884
16,370
117,254
15,774
3,663
19,437
(146,182)
(19,253)
(165,435)
24
11
35
276,483
13,439
289,922
Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
Nótaí faoi na cuntais, ar lean | Notes to the Accounts cont’d
21.
22.
2007
€’000
2006
€’000
Fuílleach ag tús de réir na gcuntas deiridh Opening Balance
Easnamh don Bhliain Deficit for year
(19,195)
(10,218)
(13,146)
(6,049)
Fuílleach Deiridh Closing Balance
(29,413)
(19,195)
Cúlchiste Easnamh Revenue Deficit
Réiteach ar Easnamh ar an Chuntas Ioncam agus Caiteachas
leis an breis glan insreabhadh/(eis-sreabhadh) airgid ó ghníomhaíochtaí oibrithe
Reconciliation of Income and Expenditure Account deficit to
net cash inflow/(outflow) from operating activities
Easnamh don Bhliain Deficit for year
Lúide Ús Faighte Glan Less Net Interest Received
Dímheas Depreciation
Amúchadh ar Chúlchistí Ginearálta Amortisation of General Reserves
(Méadú) ar Fheichiúnaithe agus Réamhíocaíochtaí
(Increase) in Debtors and Prepayments
(Méadú)/Laghdú ar Stoic (Increase)/Decrease in Stock
Méadú/(Laghdú) Chreidiúnaithe Increase/(Decrease) in Creditors
Méadú ar Chúlchiste Ginearálta (Eile)
Increase in General Reserve (Other)
Glan insreabhadh/(eis-sreabhadh) Airgid ó Ghníomhaíochtaí Oibrithe
Net Cash Inflow/(outflow) from Operating Activities
23.
(6,049)
(1,616)
19,003
(19,003)
(12,905)
(15)
24,873
3,663
9
(909)
145
13,968
(21,325)
21,692
19,262
40,954
38,476
(16,784)
21,692
13,632
23,574
13,080
23,273
37,206
36,353
Anailís ar athrú in Airgead agus a Chomhionann
Analysis of Change in Cash and Cash Equivalent
Fuílleach ag 1 Deireadh Fómhair Balance at 1st October
Glan insreabhadh/(eis-sreabhadh) airgid Net Cash inflow/(outflow)
Fuílleach ag 30 Meán Fómhair Balance at 30 September
24.
(10,218)
(2,616)
19,253
(19,253)
(1,719)
Infheistíochtaí Investments
Stoc rialtais srl. Government stocks etc.
Ciste Fiachmhúchta IIB IIB Sinking fund
19
Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
Nótaí faoi na cuntais, ar lean | Notes to the Accounts cont’d
25.
2006
€’000
17,210
8,655
103,851
126,843
Ceangaltais Chaipitil Capital Commitments
Ceangaltais conraithe ag 30 Meán Fómhair
Commitments contracted at 30 September
Údaraithe ach gan a bheith conartha ag 30 Meán Fómhair
Authorised but not contracted at 30 September
26.
2007
€’000
Faisnéisiú Páirtithe Gaolmhara Related Party Disclosures
Mioneolas ar ábhair ghaolmhara páirtithe agus idirbheartaíochta na hOllscoile leo mar
seo a leanas:
Details of material related parties and the University’s transactions therewith are as follows:
Áras na Mac Léinn Teo Fochuideachta ar leis an Ollscoil é ina iomláine, le hionad
spóirt na hOllscoile a oibriú. Tá an Ollscoil ag leanacht lena tacaíocht ó thaobh
riachtanas caipiteal oibre an chomhlachta ar agus ó 30 Meán Fómhair, 2007 bhí
€60,696 (2006: €302,584) dlite.
Áras na Mac Léinn Teo is a wholly owned subsidiary company incorporated to operate the University’s Sports
Centre. The University continues to support the working capital requirements of the Company and as of 30th
September 2007, was owed €60,696 (2006: €302,584).
Gaelstór Teo (Líonta Teo) Fochuideachta ar leis an Ollscoil é ina hiomláine, a bhfuil sé
i gceist aige cúrsaí Gaeilge a sholáthar ar an Idirlíon. Tá an Ollscoil ag leanacht lena
tacaíocht ó thaobh riachtanas caipiteal oibre an chomhlachta ar agus ó 30 Meán Fómhair,
2007, bhí €10,000 dlite (2006: €20,000).
Gaelstór Teo (Líonta Teo) is a wholly owned subsidiary company that intends to provide Irish courses on the Internet. The
University continues to support the working capital requirements of the Company and as of 30th September 2007 was owed
€10,000 (2006: €20,000).
Maoin Champais Teo Fochuideachta ar leis an Ollscoil é ina hiomláine, a chuireann
foirgnimh ar fáil faoi thearmaí léasa, le haghaidh oideachais na mac léinn. Tá an Ollscoil
ag leanacht lena tacaíocht ó thaobh riachtanas caipiteal oibre an chomhlachta ar agus ó 30
Meán Fómhair, 2007 bhí €76,007 dlite (2006: €76,007).
Maoin Champais Teo is a wholly owned subsidiary company that provides property under lease terms for the
provision of education to students. The University continues to support the working capital requirements of the
Company and as of 30th September, 2007 was owed € 76,007 (2006: € 76,007).
Endenline Limited Fochuideachta ar leis an Ollscoil é ina hiomláine agus is í an
phríomhghníomhaíocht atá aige ná maoine Ollscoile a thógáil. I rith na bliana, rinne an
Ollscoil íocaíochtaí i leith oibre forbartha a rinneadh agus ó 30 Meán Fómhair, 2007 bhí
€ 10,535,493 dlite (2006: €5,591,366)
Endenline Limited is a wholly owned subsidiary company and its principal activity is the construction of
University properties. During the year, the University made payments in respect of development work done and, as of
30 September 2007 was owed € 10,535,493 (2006: €5,591,366).
20
Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
Tionól Teo Fochuideachta ar leis an Ollscoil é ina hiomláine, agus is í an
phríomhghníomhaíocht atá aici ná gníomhaíochtaí comhdhálacha na hOllscoile a
láimhseáil. Tá iasacht de €62,775 tugtha ag an Ollscoil don chomhlacht, ar a bhfuil
soláthar iomlán déanta dó. Ní raibh aon athrú ar an iasacht seo ag 30 Meán Fómhair 2007
agus 2006.
Tionól Teo is a wholly owned subsidiary company and its principal function is to operate the University conferencing
activities. The University has loaned €62,775 to it, which is fully provided for. There has been no change to this loan
balance as of 30th September 2007 and 2006.
21
Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
Statement of Responsibility
The University is required to keep in such form as may be required by the Harmonisation of Financial
Accounts agreement as adopted by all Irish Universities all proper and usual accounts of money
received and expended by it. In preparing those accounts, the University is required to:
•
•
•
Select suitable accounting policies that are in accordance with the Harmonisation of
Financial
Accounts agreement and apply them consistently;
Make judgements and estimates that are reasonable and prudent;
Prepare the financial statements on a going concern basis unless that basis is
inappropriate.
The University is responsible for keeping proper books of account which disclose at any time the
financial position of the University and which enables it to ensure that its financial statements are
prepared in accordance with the Harmonisation of Financial Accounts agreement. The University is
also responsible for safeguarding all assets under its operational control and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
A separate set of financial statements will be prepared to comply and in accordance with generally
accepted accounting principles in Ireland and the UK whereas these financial statements prepared for
the Higher Education Authority are prepared in accordance with the Harmonisation of Financial
Accounts Agreement.
The financial statements have been prepared in accordance with the terms of the foregoing statement
of responsibilities and have been audited by PricewaterhouseCoopers, the management auditors of
the University.
It should be noted that the Comptroller and Auditor General is the statutory auditor of the
University.
On behalf of the University Authority
________________________
President
22nd April, 2008
22
Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
Bursar’s Report
Financial Statements
These financial statements are prepared under the accounting policies set out in the notes on pages 7 to 9 and
26 to28, which were agreed between the sector and the Higher Education Authority in 1997/98. As such they
reflect the core pedagogic and research roles of the University, with ancillary activities referred to in note 14 on
page 16. The University also prepares a set of GAAP compliant financial statements which should be referred
to as appropriate, in accordance with the reader’s requirements. The GAAP version of the University’s 2007
Financial Statements reflect a much worse financial position due to full recognition of Pension Fund deficits
under FRS 17, the impact of which is to account for a pension funds deficit of some €165M.
The seriousness of the situation is reflected in the establishment of a joint IUA/HEA Pensions Working
Group which is in liaison with the relevant Government departments, with a view to resolving the Pensions
issue.
Results
Regretfully, I must report that the outturn was once again as expected, in that these accounts record a deficit of
recurrent income over expenditure in the sum of €10.2M. Once again, the deficit may be attributed in the main
to cutbacks in State Recurrent Grants to the University sector and to costs arising under Protection of
Employees Acts, principally provision for pension costs of non core part time and fixed term staff. This in the
fourth year in concession that the University’s recurrent expenditure has exceeded its recurrent income and this
trend cannot be sustained, without seriously impacting on the University’s ability to implement its strategic
plan.
The accounts display the well established ratio of recurrent pay, to non pay costs at 65/35 and the combined
recurrent, research and capital spend at €226M represents a significant contribution to the local, regional and
national economy.
Balance Sheet
The continuing trend of recurrent deficits has resulted in a cumulative recurrent deficit at September 2007 in
the sum of €29M which weakens the balance sheet considerably and, should payments (rather than provisions)
be required in respect of Pensions under the Fixed Term Workers Act, significant borrowing would be reqired
to fund these deficits.
Conclusion
There are significant financial challenges facing the University in the short to medium term. These are
associated with the uncertainty which surrounds the ongoing pensions issues referred to above, and
Government funding levels which continuously fail to match inflation, let alone address the urgent
infrastructural needs of the University.
Expenditure is being closely monitored and the never ending search for new and innovative income streams is
continuing, in order to ensure the continued success of the University and to support the ongoing
implementation of its strategic plan.
Mary C. Dooley, FCA MBA
Sparánaí / Bursar.
22nd April, 2008
23
Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
RECURRENT INCOME 2006-2007
•
State Grants
€68.3m 36%
•
Student Fees
€63.2m 33%
•
Research Grant
€44.6m
23%
•
Other Income
€14.7m
8%
Total income for the year increased by 10%. This reflects increases in student fees and state grants as well as an increase
of 13.5% in income from funded research grants and projects.
RECURRENT EXPENDITURE 2006-2007
•
Academic
€146.7m 73%
•
Building
€32.6m
16%
•
Administration
€13.5m
7%
•
Student Services
€5.0m
2%
•
Other
€3.2m
2%
Total expenditure increased by 11%.
CAPITAL EXPENDITURE 2006-2007
•
Buildings
•
Equipment
€20.7m 81%
€4.7m
19%
The Audited Accounts show capital expenditure during the year at €25.4m, which is further analysed as €20.7m
building and €4.7m equipment.
CAPITAL FUNDING 2006-2007
•
HEA
•
Non-State
€2.9m 15%
€16.3m
Capital Funding credited during the year was €19.2m and is analysed above as to its sources.
24
Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
Report of the Independent Management Auditors
To the members of the Governing Authority of the National University of Ireland, Galway.
We have audited the financial statements on pages 7 to 21.
Respective responsibilities of the University and the Auditors
The University, as described on page 22 is responsible for preparing the financial statements prepared
in accordance with the Harmonisation of Universities Accounts agreement. Our responsibility is to
audit those financial statements in accordance with the auditing standards issued by the Auditing
Practices Board applicable in Ireland.
This report, including the opinion, has been prepared for and only for the members of the
Government Authority of the University as a body in accordance with our appointment. We do not,
in giving this opinion, accept or assume responsibility for any other purposes or to any other person
to whom this report is shown or into whose hands it may come save where expressly agreed by our
prior consent in writing.
We report to you our opinion as to whether the Financial Statements are properly prepared in
accordance with the Harmonisation of Universities' Accounts agreement as adopted by all Irish
Universities. We state whether we have obtained all the information and explanations we consider
necessary for the purposes of our audit and whether the Financial Statements are in agreement with
the books of account. We also report to you our opinion as to whether the University has kept
proper books of account.
Basis of opinion
We conducted our audit of the financial statements for the year ended 30 September 2007 in
accordance with Auditing Standards issued by the Auditing Practices Board. An audit includes
examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial
statements. It also includes an assessment of the significant estimates and judgements made by the
University in the preparation of the financial statements, and of whether the accounting policies are
appropriate to the University's circumstances, are consistently applied and adequately disclosed.
We planned and performed our audit so as to obtain all the information and explanations which we
considered necessary in order to provide us with sufficient evidence to give reasonable assurance that
the financial statements are free from material misstatement, whether caused by fraud or other
irregularity or error. In forming our opinion, we also evaluated the overall adequacy of presentation
on information in the financial statements.
Opinion
In our opinion the financial statements of the University in respect of the year ended 30 September
2007 have been properly prepared in accordance with the Harmonisation of Accounts Agreement.
We have obtained all the information and explanations we consider necessary for the purposes of our
audit. In our opinion proper books of account have been kept by the University. The financial
statements are in agreement with the books of account.
PricewaterhouseCoopers
Chartered Accountants and Registered Auditors
Limerick
25
22nd April, 2008
Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
Statement of Accounting Policies
A
Financial Statements
The Financial Statements reflect the teaching, research and related service activities of the
University. The Financial Statements of the University’s pension schemes and of the
University’s financially independent ancillary activities are prepared annually and audited
separately.
B
Accounting Convention
The Financial Statements are prepared under the historical cost convention modified to
include the revaluation of land and buildings. They are presented in accordance with the
existing Harmonisation of Financial Statements agreement as adopted for all Irish
Universities.
C
State Grants for Recurrent Expenditure
Recurrent Grants have been recognised on an accruals basis. Recurrent Grant which has been
used for the purchase of fixed assets is transferred to the General Reserve.
D
State Grants for Capital Expenditure
State Grants approved by the Higher Education Authority for capital expenditure are included
in the Financial Statements of the period to the extent of cash received.
E
Fee Income
Fee Income is accounted for on an accruals basis and reported at an EU fee level. Non EU
fee income is included up to the EU level with any excess being reported under other income.
Any further excess over the related unit cost is included in Ancillary Services.
F
Approved Allocations
The Income and Expenditure Account is prepared on an accruals basis with the following
exceptions:
(i) non-pay expenditure of academic departments and certain service departments;
(ii) departmental equipment and minor works.
In these cases internal balances are carried forward in the Balance Sheet under Current Assets
or Liabilities, as appropriate.
26
Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
Statement of Accounting Policies cont’d
G
Fixed Assets and Depreciation
All fixed assets are stated at historical cost with the exception of Land and Buildings.
Buildings that were completed at 30/9/98 are revalued internally, on an individual basis, at the
current replacement value less the related depreciation charge. Buildings constructed during
the year are stated at their historical cost and are assumed to have a useful life of 50 years.
Land is revalued internally at its current use value. The estimate useful lives of fixed assets by
reference to which depreciation has been calculated on a straight-line basis
is as follows: Buildings
Computer Equipment
Furniture and Equipment
Land is not depreciated
H
50 years
3 years
5 years
General Reserve
The general reserve represents the value of funding, after amortisation, applied for capital
purposes, together with the results from Ancillary Services.
I
Research Grants and Projects
Contract research expenditure is shown net of contributions to indirect costs. Income from
contract research grants is included in the Income and Expenditure account to the extent that
the related expenditure has been incurred. Contract research contribution to the University’s
indirect costs is included in ‘other income’. Fixed Assets financed from contract research
grants are capitalised in the balance sheet.
J
Foreign Currencies
Costs denominated in foreign currencies are translated at the exchange rates ruling at the dates
of the transactions. Assets and liabilities denominated in foreign currencies are translated into
Euro at the rates of exchange ruling at the Balance Sheet date. The resulting profits or losses
are dealt with in the Income and Expenditure account.
K
Taxation
No provision has been made for taxation, as the University holds tax exempt status.
L
Ancillary Services
Ancillary Services are services provided on campus on a cost recovery basis, and are planned
to breakeven in the medium term. Investment income on the infrastructural Development
fund is included under this heading. The net outturn on such activities is transferred to the
General Reserve account.
27
Ollscoil na hÉireann, Gaillimh Cuntais na bliana dar chríoch 30 Meán Fómhair, 2007.
Statement of Accounting Policies cont’d
M
Pensions
The University operates defined-benefit, defined contribution and PRSA pension schemes, as
appropriate, with assets held in separately administered funds.
In the case of the defined benefit schemes, the basic retirement pensions of University staff
are funded by contributions to the University Pension Funds ("the pension funds") at a predetermined rate of pensionable pay. Increases in basic retirement pensions are charged to the
Income and Expenditure account of the University. Employer contributions to the defined
benefit scheme are also charged to the income and expenditure account of the University in
tandem with the employees’ salary and wage costs. Separate financial statements are prepared
for the defined benefit Pension Fund.
N
Stock
Stocks are stated at the lower of cost and net realisable value, the majority of which are
Laboratory Consumables, stationery and building materials.
O
Investments
Investments are stated at their historical cost.
28