Annual Accounts for the year ending 31st December 2007

Annual Accounts for the year ending 31st December 2007
Income and Expenditure Account for the year ended 31st December 2007
Notes € STG£ € STG£
2007 2007 2006 2006
INCOME
Revenue Funding from Departments 2 30,265,785 20,703,047 27,729,552 18,902,217
Release from Capital Grant Reserve 13 4,490,297 3,071,549 4,436,160 3,023,967
Other Operating Income 3 358,277 245,077 416,072 283,620
__________ __________ __________ __________
TOTAL INCOME 35,114,359 24,019,673 32,581,784 22,209,804
__________ __________ __________ __________
EXPENDITURE
Staff Costs 4 17,905,587 12,248,161 15,756,812 10,740,840
Programme Costs 5 6,086,142 4,163,173 6,194,641 4,222,659
Other Operating Costs 6 7,109,752 4,863,363 5,804,825 3,956,933
Currency gains 2,859 1,956 66,058 45,029
Depreciation 7 4,470,482 3,057,994 4,436,160 3,023,967
__________ __________ __________ __________
TOTAL EXPENDITURE 35,574,822 24,334,647 32,258,496 21,989,428
__________ __________ __________ __________
Operating Surplus/(Deficit) for the Year (460,463) (314,974) 323,288 220,376
Profit/(Loss) on Disposal of Fixed Assets (11,217) (7,673) 1,574 1,073
__________ __________ __________ __________
Surplus/(Deficit) for the Year 12 __________ (471,680) __________ (322,647) __________ 324,862 __________ 221,449
transferred to Revenue Reserve
The net cost of operations arises wholly from continuing operations.
The notes on pages 57 to 70 form part of these accounts
Waterways Ireland Annual Report and Accounts 2007 53