<strong>Annual</strong> <strong>Accounts</strong> <strong>for</strong> <strong>the</strong> <strong>year</strong> <strong>ending</strong> <strong>31st</strong> <strong>December</strong> <strong>2007</strong> Income and Expenditure Account <strong>for</strong> <strong>the</strong> <strong>year</strong> ended <strong>31st</strong> <strong>December</strong> <strong>2007</strong> Notes € STG£ € STG£ <strong>2007</strong> <strong>2007</strong> 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 O<strong>the</strong>r 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 O<strong>the</strong>r 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) <strong>for</strong> <strong>the</strong> 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) <strong>for</strong> <strong>the</strong> 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 <strong>for</strong>m part of <strong>the</strong>se accounts Waterways Ireland <strong>Annual</strong> Report and <strong>Accounts</strong> <strong>2007</strong> 53
<strong>Annual</strong> <strong>Accounts</strong> <strong>for</strong> <strong>the</strong> <strong>year</strong> <strong>ending</strong> <strong>31st</strong> <strong>December</strong> <strong>2007</strong> Statement of Total Recognised Gains and Losses <strong>for</strong> <strong>the</strong> <strong>year</strong> ended <strong>31st</strong> <strong>December</strong> <strong>2007</strong> Notes € STG£ € STG£ <strong>2007</strong> <strong>2007</strong> 2006 2006 Surplus/(Deficit) <strong>for</strong> <strong>the</strong> financial <strong>year</strong> (471,680) (322,647) 324,862 221,449 Unrealised surplus on revaluation __________ – __________ – __________ 8,954,069 __________ 6,033,333 of Land and Buildings __________ (471,680) __________ (322,647) __________ 9,278,931 __________ 6,254,782 54 Waterways Ireland <strong>Annual</strong> Report and <strong>Accounts</strong> <strong>2007</strong>