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Enterprise Ireland
Annual Report and Accounts
2007

Financial Statements - Notes to the Financial Statements

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For year ended 31 December 2007

1 Exchequer Funding

Oireachtas Grants

  1. Under Section 35 of the Industrial Development (Science Foundation Ireland) Act, 2003, the aggregate amount of grants made by the Minister to Forfás and its Agencies to enable them to discharge their Capital obligations and liabilities shall not exceed €3.4 billion. At 31 December 2007 the aggregate amount made available to the three Agencies was €3.029 billion (2006- €2.747billion) of which Enterprise Ireland and the former Forbairt received €797.405m (2006- €752.968m).
  2. Under Section 14(3) of the Industrial Development Act 1986, the aggregate amount of grants made by the Minister to Forfás and its Agencies to enable them to meet their obligations and liabilities in respect of principal and interest on foot of Loan Guarantees under that Act and under Section 37 of the Industrial Development Act 1969 , Sections 2 and 3 of the Industrial Development Act 1977, shall not exceed €159m . At 31 December 2007 the aggregate amount so provided was €13.547m (2006- €13.547m), all of which related to Enterprise Ireland clients.

The Oireachtas Grants as shown in the financial statements consist of:

  2007
€'000
2006
€'000
Grant for Capital Grants, Loan Guarantees, etc 44,437
46,028
Grant for County Enterprise Boards 8,964 -
Grant for Promotion and Administration Expenditure 99,858 93,738
Grant for Capital Equipment 3,400 2,900
National Training Fund 3,160 3,550
Science & Technology Development Programme 114,058
99,334
  273,877
245,550

 

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