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) |
|
__________ |
__________ |
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
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.