Enterprise Ireland Annual Report and Accounts 2009

Notes to the Financial Statements

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For the year ended 31 December 2009

1 Exchequer Funding

Oireachtas Grants

(a)
Under Section 11 of the Industrial Development Act, 1993, as amended by section 4(a) of the Industrial Development Act, 2009, 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 €7 billion. At 31 December 2009 the aggregate amount made available to the three Agencies was €3.676 billion (2008- €3.325billion) of which Enterprise Ireland and the former Forbairt received €965.421m (2008- €853.775m).
(b)
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 2009 the aggregate amount so provided was €13.547m (2008- €13.547m), all of which related to Enterprise Ireland clients.

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

  2009   2008
  €'000   €'000
Grant for Capital Grants, Loan Guarantees, etc. 111,646   56,370
Grant for County Enterprise Boards 33,490   33,770
Grant for Promotion and Administration Expenditure 93,056   100,218
Grant for Capital Equipment 2,400   5,400
National Training Fund 2,950   3,000
The Workplace Innovation Fund 108   36
Employment Subsidy Scheme (Temporary) 18,200   -
Science & Technology Development Programme 134,187   129,613
  396,037   328,407