appendix l

PRIORITIES FUND

INCOME AND EXPENDITURE ACCOUNT	Year ended 31 December
	2000	1999
	IR£	IR£
INCOME
Contributions from dioceses	327,809	298,392
Contributions from individuals	5,000	-
Deposit interest	7,037	8,409
Dividend income	11,616	10,772
	__________	__________
	351,462	317,573
	__________	__________
EXPENDITURE
Administration expenses
Salaries and PRSI	12,935	11,660
Organiser’s and Committee expenses	1,271	701
Printing and stationery	3,014	1,411
Postage and photocopying	461	222
Miscellaneous	1,153	1,584
	__________	__________
	18,834	15,578
	__________	__________
Grants and Loans
Ministry	118,405	130,199
Retirement benefits	15,798	43,049
Education	126,952	138,104
Community	88,005	61,187
Areas of need	58,146	60,703
Millennium projects	-	50,719
	__________	__________
	407,306	483,961
	__________	__________
Total Expenditure	426,140	499,539
Currency Exchange (loss)/gain on conversions
during the year	(438)	37,237
	__________	__________
Deficit for year	(75,116)	(144,729)
	__________	__________

priorities fund

FUND ACCOUNT	Year ended 31 December
	2000	1999
	IR£	IR£
CURRENT ASSETS
Cash in bank	15	5,070
Cash on deposit	162,011	238,317
	__________	__________
	162,026	243,387
CURRENT LIABILITIES
PAYE/PRSI	(3,154)	(3,154)
Central Communications Board	(12,947)	(12,947)
Millennium Board	(1,500)	(7,834)
	__________	__________
	(17,601)	(23,935)
INVESTMENTS
Investments held by RCB in trust at cost	146,564	146,653
	__________	__________
Balance as at 31 December	290,989	366,105
	__________	__________
FUNDS EMPLOYED
Balance at 1 January	366,105	510,834
Deficit for the year	(74,678)	(181,966)
Foreign Exchange gain/(loss) for the year	(438)	37,237
	__________	__________
Balance as at 31 December	290,989	366,105
	__________	__________

ACCOUNTANTS’ REPORT

The Standing Committee is responsible for preparing the Income and Expenditure Account and the Fund Account for the year ended 31 December 2000. We have examined the above and have compared them with the books and records of the Fund. We have not performed an Audit and accordingly do not express an audit opinion of the above statements. In our opinion the above statements are in accordance with the books and records of the Fund.

PricewaterhouseCoopers
Chartered Accountants
Dublin
14 March 2001

appendix m

priorities fund

report on new objectives and criteria

At a meeting of the Priorities Fund Committee held on Tuesday 14 November 2000, it was decided to continue the process of change and identify new objectives and criteria for the operation of the Fund in the future.

With the approval of the Standing Committee it has been decided to:

· Continue the process of co-operation with the Allocations Committee of the RCB with a view to identifying short-term funding projects, (eg Primary School Syllabus, financial back-up for the initiation of the Communications Office), which the Priorities Fund would support and identifying long-term funding projects which the Priorities Fund has supported in the past, (eg the selection and training of ordinands), which would be passed back to the RCB.

It was also decided to set aside £100,000 for a special project/s over the next 3 years (2001-2004), under the general title RECONCILIATION AND OUTREACH. The applications for this project/s would be separate from the normal process in the Fund, with an end of February 2001 deadline. It is hoped to support a small number of projects in a meaningful way over the 3 year period.

It was also decided that all projects receiving funding from the Priorities Fund would be asked to indicate on their premises and in their literature and publicity, that they have received support from the Fund. The Priorities Fund Committee have formulated a number of ways in which this may be done.