Report & Financial Statements for the Year ended 31st December ...

More documents

Recommendations

Info

NATIONAL DEVELOPMENT FINANCE AGENCY In 2004, NDFA provided financial advice on four PPP projects that have reached contract close and are either under construction or in operation. These projects, with a combined capital value of €470 million, were: Roads – M1 Dundalk Western By-Pass, N8 Rathcormac-Fermoy By-Pass; Housing – Fatima Mansions Redevelopment and Broadband/Technology – Metropolitan Area Network. To date, the NDFA has completed its advice on six PPPs. The advice provided to date also included organising funding of approximately €400 million in relation to seven non-PPP projects. Of the thirteen projects completed to date, financing has been provided by the following sources: private sector bank debt, European Investment Bank project loans, direct Exchequer contributions and private equity. There is a long lead-in time for delivering public capital infrastructure projects due to the lengthy nature of the procurement process, particularly in relation to PPP projects. Many projects referred to the NDFA are currently in procurement and the NDFA has been providing financial advice on an ongoing basis. These include a number of major capital investment projects being undertaken by the State such as the National Conference Centre, the Criminal Courts Complex, the redevelopment of Mountjoy Prison and Luas Line B extension. Other projects include roads, social housing and utilities such as waste and water. Report and Accounts for the year ended 31 December 2004 33
SOCIAL INSURANCE FUND Social Insurance Fund Social insurance contributions are paid into the Social Insurance Fund, while payments in respect of items including unemployment and disability benefits, retirement pensions and contributory old age pensions are made from it. The NTMA commenced management of the accumulated surplus in the Fund in July 2001, with the performance being measured against a benchmark agreed with the Minister for Finance. At end 2003, the Fund was valued at €1,275 million. In the course of 2004, €300 million was transferred to the Fund from the Department of Social and Family Affairs bringing total assets under management to €1.6 billion at the end of the year. A further €400 million has been added to date in 2005, bringing the total under NTMA management to over €2 billion. The investment return achieved by the Fund in 2004, taking account of investment guidelines issued by the Minister for Finance, was 2.13 per cent. 34 National Treasury Management Agency
Page 1 and 2: REPORT AND ACCOUNTS FOR THE YEAR EN
Page 3 and 4: Michael J. Somers Chief Executive J
Page 5 and 6: 22 June 2005 Mr. Brian Cowen, T.D.,
Page 7 and 8: OVERVIEW Overview The responsibilit
Page 9 and 10: NATIONAL TREASURY MANAGEMENT AGENCY
Page 11 and 12: SUMMARY OF ACTIVITY Summary of Acti
Page 13 and 14: FUNDING & DEBT MANAGEMENT Funding &
Page 27 and 28: RETAIL SAVINGS Retail Savings Some
Page 29 and 30: PRIZE BONDS Prize Bonds Net sales o
Page 31 and 32: ULYSSES SECURITISATION PLC Ulysses
Page 33: NATIONAL DEVELOPMENT FINANCE AGENCY
Page 37 and 38: STATE CLAIMS AGENCY State Claims Ag
Page 43 and 44: ASSET COVERED SECURITIES Asset Cove
Page 45 and 46: FINANCE, TECHNOLOGY AND RISK Financ
Page 47 and 48: FINANCE, TECHNOLOGY AND RISK Financ
Page 49 and 50: 48 National Treasury Management Age
Page 51 and 52: FINANCIAL STATEMENTS Financial stat
Page 53 and 54: NATIONAL DEBT OF IRELAND Contents S
Page 55 and 56: NATIONAL DEBT OF IRELAND Statement
Page 57 and 58: NATIONAL DEBT OF IRELAND Report of
Page 59 and 60: NATIONAL DEBT OF IRELAND Service of
Page 61 and 62: NATIONAL DEBT OF IRELAND Cash Flow
Page 63 and 64: NATIONAL DEBT OF IRELAND Notes to t
Page 71 and 72: ADMINISTRATION ACCOUNT Contents Acc
Page 73 and 74: ADMINISTRATION ACCOUNT Income and E
Page 75 and 76: ADMINISTRATION ACCOUNT Notes to the
Page 81 and 82: 80 National Treasury Management Age
Page 83 and 84: POST OFFICE SAVINGS BANK FUND Conte
Page 85 and 86:
POST OFFICE SAVINGS BANK FUND Accou
Page 87 and 88:
POST OFFICE SAVINGS BANK FUND Balan
Page 89 and 90:
POST OFFICE SAVINGS BANK FUND Notes
Page 91 and 92:
POST OFFICE SAVINGS BANK FUND Notes
Page 93 and 94:
CAPITAL SERVICES REDEMPTION ACCOUNT
Page 95 and 96:
CAPITAL SERVICES REDEMPTION ACCOUNT
Page 97 and 98:
NATIONAL LOANS ADVANCE INTEREST ACC
Page 99 and 100:
NATIONAL LOANS (WINDING UP) ACCOUNT
Page 101 and 102:
NATIONAL TREASURY MANAGEMENT AGENCY
Page 103 and 104:
NATIONAL TREASURY MANAGEMENT AGENCY
Page 105 and 106:
DEPOSIT MONIES INVESTMENT ACCOUNT A
Page 107 and 108:
ACCOUNT OF STOCK ACCEPTED IN PAYMEN
Page 109 and 110:
SMALL SAVINGS RESERVE FUND Report o
Page 111 and 112:
110 National Treasury Management Ag
Page 113 and 114:
STATE CLAIMS AGENCY Contents Report
Page 115 and 116:
STATE CLAIMS AGENCY Accounting Poli
Page 117 and 118:
STATE CLAIMS AGENCY Balance Sheet A
Page 119 and 120:
STATE CLAIMS AGENCY Notes to the Fi
Page 121 and 122:
DORMANT ACCOUNTS FUND Contents Stat
Page 123 and 124:
DORMANT ACCOUNTS FUND Report of the
Page 125 and 126:
DORMANT ACCOUNTS FUND Accounting Po
Page 127 and 128:
DORMANT ACCOUNTS FUND Reserve Accou
Page 129 and 130:
DORMANT ACCOUNTS FUND Notes to the
Page 131 and 132:
Page 133:
show all

Report & Financial Statements for the Year ended 31st December ...

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?