Railway Procurement Agency Annual Report 2013

Transcription

1 Railway Procurement Agency Annual Report

2 1 RPA ANNUAL REPORT Contents Business Review Financial Review Chairman s Statement 3 Acting Chief Executive s Review 5 Operating and Financial Review 8 Agency Information 16 Members Report 18 Independent Auditors Report 22 Income and Expenditure Account 24 Statement of Total Recognised Gains and Losses 25 Reconciliation of Movement in Agency s Funds 25 Balance Sheet 26 Cash Flow Statement 27 Notes to the Financial Statements 28

3 2 RPA ANNUAL REPORT 3 RPA ANNUAL REPORT Chairman s Statement saw passenger numbers on Luas reach a new record high of 30.5 million. The continuing increase in passenger numbers means that Luas is on target to return to an operating surplus in During, the Railway Procurement Agency (RPA) commenced works on the Luas Cross City extension which will allow RPA to realise its long term goal of establishing an integrated light rail network for Dublin by connecting the existing Green Line and Red Line services. The extension is expected to generate an extra 10 million passenger journeys on Luas in a full year once passenger services commence in Significant progress has also been made on the merger of RPA and the National Roads Authority during, including the alignment of membership of the two Boards and the significant progress of the merger legislation. The merger will combine the technical expertise and experience of these two highly successful agencies to create an organisation which will be a leader in the delivery and maintenance of transport infrastructure. The merger will deliver savings through greater efficiency in project delivery and infrastructure operation and maintenance. I would like to acknowledge the support of the Minister for Transport, Tourism and Sport, Leo Varadkar TD, Secretary General Tom O Mahony and his officials. The Board and I thank them for their on-going assistance and support. RPA will continue to work with them to ensure the successful delivery of our projects. Cormac O Rourke Chairman 29 April 2014 I would like to take this opportunity to thank the Board and the staff of RPA for their commitment and support during. I want to recognise also the input, support and funding from the National Transport Authority which has enabled the successful development and implementation of our projects.

4 4 RPA ANNUAL REPORT 5 RPA ANNUAL REPORT Acting Chief Executive s Review was a year of progress for RPA. Luas continued to experience strong growth, achieving record passenger numbers for the second year running. The year also saw the commencement of construction work on Luas Cross City, which will significantly transform the public transport options for the people of Dublin. Luas enjoyed another successful year in, with overall passenger trips growing by 4.5% to 30.5 million. It was particularly encouraging to see very strong growth on the Luas Citywest and Luas Cherrywood extensions. Passenger numbers on these lines have been below expectations, as planned developments did not take place within the catchment areas of the lines, and high unemployment levels adversely affected demand for trips to work. The annual Luas census shows a clear reversal of this trend, with growth of between 15% and 20% recorded at the various stops on these lines. This suggests that Luas will experience strong growth as the economic recovery continues. During, RPA and its operating partner Transdev ran a number of promotional campaigns to encourage people to switch from using their cars to public transport. Our family friendly Kids Go Free campaign, and the introduction of lower Park & Ride charges, proved particularly popular. Regular Meet the Luas Manager events allow us to interact directly with our customers so we can understand how to continue to improve the quality of service provided. In partnership with the National Transport Authority, Luas was the first public transport provider to offer its customers daily and weekly capping on Leap card usage. The growing passenger numbers, coupled with the continuing implementation of cost saving measures, resulted in a greatly reduced operating deficit of 2.2 million for the Infrastructure Business. This better than expected performance allowed us to keep our application to the National Transport Authority for a fares increase to a minimum for the coming year. was the third year of RPA s five year plan to return the Luas infrastructure business to an operating surplus, and we remain on target to achieve this by The deficit was funded through the business s accumulated cash surpluses. The safety and security of Luas customers and personnel is of the highest priority for RPA. While Luas continues to have an excellent safety record, the RPA Board regard any safety or security incident as unacceptable and RPA, in conjunction with our operator Transdev, implemented a number of initiatives during the year to address safety and security issues. These included the testing and piloting of a red light camera to automatically detect cars breaking red lights at Luas junctions, a project which we have been collaborating on with Dublin City Council and An Garda Síochána. Transdev and An Garda Síochána also continued to implement regular surveillance on trams to counter anti-social behaviour. Maintaining the very high quality and reliability of the Luas system and trams ensures that Luas remains an attractive choice for commuters.

5 6 ACTING CHIEF EXECUTIVE S REVIEW CONTINUED 7 RPA ANNUAL REPORT RPA continued the Luas asset renewal programme in, with major overhauls being completed on half of the Luas tram fleet. The existing Luas operating contract will expire in 2014 and RPA and the National Transport Authority have completed the prequalification stage of the tender process for the new operating contract. The quality of the prequalified companies bodes well for the continued long term success of Luas. The Luas Cross City project achieved a key milestone in with the award of the first enabling works contracts and the commencement of construction. Luas Cross City is the most important light rail project since the opening of the original Luas lines in There is considerable latent demand for cross city trips and the network effect of joining the Luas Red and Green lines is forecast to result in a 30% increase in Luas trips. RPA worked closely throughout the year with the National Transport Authority, Dublin City Council, other transport operators and the business community to carefully plan the works and minimise disruption. A strong emphasis was placed on public communication and consultation, with the appointment of Local Liaison Officers and the opening of a Public Information Office in the city centre. By the end of the year, works on the first enabling contracts were well ahead of programme. RPA continued to provide support to the National Transport Authority on the development of a Bus Rapid Transit network for Dublin, focusing on the appraisal of options for BRT routes connecting Blanchardstown to UCD and Clongriffin to Tallaght. BRT offers a cost efficient, high quality public transport solution in areas where demand is insufficient to support a light rail line. The merger of RPA and the National Roads Authority to create a world class infrastructure provider is a key element of the Government s public sector reform policy. RPA worked closely with the Department of Transport, Tourism and Sport and the NRA in towards achieving this goal and significant progress was made on planning for the integration of the two organisations and on the legislative changes needed to implement the merger. Finally, RPA continued to successfully exploit its engineering and project management expertise by securing external work both domestically and internationally. In, we earned 1.8m from consultancy and secondment activities, allowing us to reduce the corporate activities funding we receive from the Exchequer. RPA s achievements in are due to the quality and commitment of its people. The professionalism and commitment of RPA staff at a time of considerable change and uncertainty has been vital to delivering on our goals for the year. The long term success of Luas depends on delivering outstanding customer service and system performance and I would like to thank the management and staff of our operator, Transdev, and system maintainers Alstom and Dalkia for their ongoing commitment to achieving the highest standards in these areas. I would also like to thank our customers for their continued loyalty to Luas and I look forward to further growth in passenger numbers in the coming year. Finally, I would like to thank the RPA Chairman and Board for their continued support during the last year. Rory O Connor Acting Chief Executive 29 April 2014

6 8 RPA ANNUAL REPORT 9 RPA ANNUAL REPORT Operating and Financial Review OPERATING REVIEW KEY ACHIEVEMENTS IN Financial performance RPA has delivered a 25% reduction in corporate expenditure between 2011 and Corporate expenditure includes all expenditure involved with the running of the Agency and which is not directly related to the development of new infrastructure. Total payroll and pension costs have been reduced to 14.9m from 22.0m in Average numbers of staff employed by the Agency were reduced from 268 in 2011 to 193 in. RPA has continued to engage with other public and private bodies in consulting and secondment activities which allow the retention of staff with key skills and experience while offsetting their cost against earned income. During, RPA generated income of 1.8m from these activities. The Agency continues to manage its accumulated cash reserves in a manner that minimises risk while taking advantage of the best available returns. A total of 0.7m interest (: 2.1m) was earned on balances held during the year. This income provides RPA and the NTA with options for funding infrastructure projects and life cycle asset renewals in the Luas infrastructure business. The Luas infrastructure business reported a deficit on all activities before interest and tax of 2.2m for (: 3.4m) compared with a budgeted deficit of 2.7m. We are confident that the business is on schedule to return to surplus by COMMERCIAL OPERATIONS Infrastructure Business The Luas network now covers 37 km including Luas Docklands and Luas Cherrywood, compared to the original 24 km opened in Luas trams ran 3.54 million kilometres in, compared to 2.3 million in the first full year of operation (2005). Luas had its busiest year with in excess of 30m trips recorded during the year. During, we continued our program of life cycle asset renewals on the original tram fleet. This work will ensure that the trams continue to deliver the high standards of safety, reliability and comfort which passengers value so highly. The current life cycle asset renewal program will be largely completed for trams in 2014 and the emphasis will move to renewing key elements of the fixed infrastructure. Luas infrastructure activities reported a deficit (before tax credits and interest on reserves) of 2.2m (: 3.4m). This improved to a deficit of 1.7m (: 2.3m) after crediting interest earned on the accumulated cash reserves of the business and taking account of tax credits and deprecation on self-funded assets. The deficit was funded from accumulated cash reserves. The Luas infrastructure business is forecasting a return to surplus in Forecasts for the business assume conservative levels of patronage growth and similar levels of cost inflation. The improved financial results of the Luas infrastructure business were due to the determined efforts of RPA, as infrastructure provider and Transdev, as the Luas transport service provider, to bring costs and revenues into line. The staff of both organisations cooperated closely and made considerable contributions in order to bring about the necessary improvement in financial performance. NTA and RPA as a joint contracting entity are in the process of re-tendering for the contract for the provision of transport services. The new contract will commence in There are three bidders currently engaged with RPA in the procurement process. When the procurement concludes we expect the outcome will result in the quality of Luas services being maintained for the next contract term at a competitive price. Secondments and Consulting RPA has engaged in the provision of secondment and consultancy services to third parties as well as to other state agencies and Government departments. RPA has been very successful in diversifying its commercial activities within the allowed remit in order to generate new sources of income and retain key resources for implementing Luas Cross City (LCC). During, we continued to grow the income of this business mainly through the secondment of staff to other public Agencies. This represents valuable low risk business for the Agency while bringing significant financial and operational efficiencies. During, RPA earned 1.8m (: 0.9m) from these commercial activities. Project Delivery, Approval and Funding RPA prepares a comprehensive business case for each proposed infrastructure project. The business case incorporates the project s transport, financial and economic evaluations. It also includes the proposed strategies and plans for the procurement and financing of the project. This business case is provided to the NTA when seeking funding approval for a project. In securing funding for new projects, RPA s objective is to minimise the contribution required from the Exchequer and to seek funding via development levy schemes and bilateral agreements from those who will benefit directly from the improved infrastructure.

7 10 OPERATING AND FINANCIAL REVIEW CONTINUED 11 RPA ANNUAL REPORT Archeological works at Broadstone in March 2014 Archeological works at Broadstone in March 2014 Industry Context During the year, Luas continued to deliver significant capacity into the public transport infrastructure of the Greater Dublin Area. The peak hour capacity provided by the Luas Red and Green Lines is approximately 19,840 public transport trips. The number of passengers carried on Luas increased by 4.5% from 29.3 million in to 30.5 million in. Legal and Regulatory Environment The NTA has assigned its functions in relation to the operation of the Luas services, subject to a range of conditions and requirements, to the RPA under the provisions of the Dublin Transport Authority Act The Transport (Railway Infrastructure) Act 2001 (as amended) provides for the granting of a railway order to the party seeking to provide light rail or metro infrastructure and services. The statutory process requires RPA to prepare a detailed railway order application including a reference design, an Environmental Impact Statement and a Book of Reference to identify property interests. The application for an order is then made to An Bord Pleanála. The Railway Safety Act 2005 established a Railway Safety Commission which provides for the approval of new railway infrastructure projects. In relation to the construction of railway projects, RPA complies with and requires our contractors to comply with the Safety, Health and Welfare at Work Act 2005 and related regulations issued by the Health and Safety Authority. Business and Financial Objectives The increase in passenger numbers of 4.5% over numbers shows that RPA is delivering on its 5 year Corporate Business Plan. The current plan for 2014 to 2018 identifies three key strategic objectives to realise our vision: New Infrastructure Provision Provide safe and sustainable new public transport infrastructure in accordance with the requirements of Government transport strategies and funding constraints. Luas Infrastructure Business Promote and enhance the high quality attractive Luas service to sustainably grow passenger numbers and return to surplus in Organisational Change Continue to deliver an organisation with appropriate skills, structure and competencies to deliver our mandate. The Exchequer s financial constraints and new investment priorities led in to a significant reduction in the number of proposed new transport projects. RPA has adapted its strategy to meet the new investment priorities and to ensure the successful completion of the merger with NRA while continuing to provide sustainable transport infrastructure and procure high quality passenger services through commercial operators. SAFETY & ENVIRONMENT Construction During, RPA commenced the enabling works for the Luas Cross City Project. These works entailed the investigation, recording and treatment of cellars along the LCC alignment from Dawson Street to Dominick Street and a survey of the sewers along the LCC alignment. Other RPA construction works included the Dundrum Substation strip out and flood protection wall, and a range of improvement works to improve accessibility and safety along the Luas network. In accordance with statutory responsibilities RPA monitored all contractors to ensure that their duties under the Safety, Health and Welfare at Work Act 2005, the Safety Health and Welfare at Work (Construction) Regulations, and all relevant legislation, Codes of Practice and Guidance were effectively discharged or observed. There were no lost time accidents recorded on the RPA Construction Projects for. This represents a positive achievement for all who were involved in the design and construction of the various projects. Passenger Services A record total of 30.5m passenger journeys were completed in, compared to 29.3m passenger journeys in. The safety of Luas passengers is of paramount importance to the Board of RPA, who continually monitor performance in this area. RPA will continue to work with the operator and its maintenance sub-contractors to ensure that the high level of safety performance already achieved in the operation of the Luas Red and Green Lines is maintained. International comparisons with other light rail systems demonstrate that safety on Luas compares well with other European systems. In, we recorded an increase in the number of road traffic collisions over. RPA, the operator, An Garda Síochána and the Local Authorities have worked throughout to introduce effective measures to counteract this development. RPA and Transdev have identified and introduced changes to Luas operating procedures and infrastructure that are designed to address and reduce safety related incidents. Where the interaction of third parties with Luas services has given rise to safety related incidents, we are employing a strategy of education and enforcement to counter the risks involved. Although recent experience has shown that public disorder and vandalism has reduced, it is still a concern for us and our passengers. RPA will continue to work with the Luas operator to improve the security of Luas passengers as the RPA Board has no tolerance for antisocial behaviour. Environment The environmental activities undertaken in, demonstrate RPA s compliance with its Environmental Policy. Through cooperative working with both internal and external partners, RPA implemented best practice in managing the potential for negative environmental effects associated with RPA planning, construction and operations. Such activities included the support of all directorates in relation to environmental and archaeological matters including the planning of the two Bus Rapid Transit schemes, environmental and archaeological construction management associated with LCC (noise, vibration and air quality monitoring and control, site inspections, audits, approval of work method statements, preparation of Environmental Health Unit (EHU) Works Notifications, stakeholder management,

8 12 OPERATING AND FINANCIAL REVIEW CONTINUED 13 RPA ANNUAL REPORT contract management (including ecological surveys), preparation of an archaeological strategy, obtaining Ministerial Consents, applying for archaeological licences, review and approval of Drawn Measured and Photographic Surveys and Final Architectural Heritage Reports). Other activities included environmental and archaeological support of the minor projects team with a significant input to the preparation of the Brides Glen Part 8 planning application and unattended continuous noise monitoring at Dundrum Substation. Management of the environmental aspects of the operations contract continued throughout the year with monthly site meetings, quarterly depot inspections and review of environmental reporting including Transdev s environmental management plan and noise and vibration reports. In addition tram specific measurements were undertaken and reported upon at 11 locations on the Luas Red Line, 6 locations on Luas Docklands, 8 locations on the Luas Green Line, 10 locations on Luas Cherrywood and 14 locations on Luas Citywest. Corporate environmental management initiatives continued throughout with preparation of a gap analysis report on RPA s existing environmental management system, provision of environmental training (noise, archaeology etc.), RPA s fourth annual Green Week in November, achievement of waste and energy objectives in line with the Dublin Light Rail Sustainability Plan and continued success with the RPA Green Team and associated initiatives. SUSTAINABILITY Summary of our actions and achievements under the sustainability plan; Infrastructure International research indicates that the reduction of embodied carbon in construction will provide a greater return than managing reductions in operational carbon on an operational light rail system. The research shows the highest proportion of emissions being released immediately upon construction. In response to this, different scenarios were assessed as the Luas Cross City designs were prepared. The assessments confirmed that potential reductions of 25 30% in embodied carbon could be achieved. RPA will require contractors tendering for Luas Cross City contracts to include reduction targets in tenders. Corporate activities Since 2010, RPA has reduced gas consumption by 40% and electricity consumption by 35%. RPA is determined to achieve further reductions through consolidation of accommodation requirements and encouraging individual responsibility. Fuel consumption was steady over and. It is likely to increase in the current year as a result of the number of work sites open for LCC construction. Possible future measures which could improve energy performance include introducing heat exchangers into our air conditioning plant and targeting reduction of consumption by computer servers and related air conditioning units which account for 40% of overall electricity consumption. The significant lesson learned since commencing our sustainability program in 2011 is that reducing consumption by increasing control and changing acceptable behaviour and standards is the most cost effective path to sustainable corporate activity. DEVELOPMENT OF LUAS AND METRO Luas Cross City The implementation phase of LCC commenced in. All of the main enabling works contracts, i.e. Investigation and Treatment of Cellars, Heritage Works and Utility Works contracts, were issued for tender and procured over the course of the year. Both Investigation and Treatment of Cellars contracts were awarded to KN Network Services Ltd. in May and the works commenced on site in June. Both contracts were substantially complete by the end of the year. Over 300 cellars were located and in-filled in city centre areas under these contracts. The Heritage Works contract was awarded in and will continue until the end of the project in GMC Utilities Group Ltd. (GMC) were awarded the Utility Works contract in late October. These works were procured using the NEC3 Target Cost form of contract. Following contract award a series of meetings were arranged with the LCC Traffic Forum to discuss and agree traffic management arrangements for the initial stages of the works. Agreement was reached in December with the relevant stakeholders to allow GMC to commence works at six separate sites in January 2014, i.e. St Stephen s Green North, Grafton St., Westmoreland St., Hawkins St., Marlborough Place and Marlborough St. / Parnell St. junction. It is anticipated that these works will continue throughout Minor projects Fifteen minor projects were carried out during, 10 of which have been completed and 5 have been carried over into Minor projects involve the improvement of safety and customer service aspects of the Luas infrastructure and services. One project involved construction of a footpath that will improve accessibility from Tallaght Hospital to the Luas stop. This is one of RPA s strategies to encourage the public to use Luas to access amenities and important public facilities. Another accessibility improvement project involved the design and Part 8 Planning Report for a footpath and cycleway, length circa 1km long between Brides Glen Luas Stop and Loughlinstown Hospital. The route follows the original alignment of the proposed Line B2 from Brides Glen Luas Stop, on the Green Line, to the hospital. Construction is expected to start in 2014 subject to planning approval. A significant safety improvement project involved the procurement of an on-board digital CCTV system. This system will provide those monitoring the activities on the system with a high quality image when zooming in, without being prone to interference. Downloading data will be

9 14 OPERATING AND FINANCIAL REVIEW CONTINUED 15 RPA ANNUAL REPORT significantly faster than the existing system. Response time for requests will be better and information supplied to An Garda Síochána will be therefore quicker. The installation of the system will be carried out in Bus Rapid Transit In, RPA continued to work closely with the National Transport Authority (NTA) to advance the NTA s planning for the Swiftway (BRT System) in Dublin. RPA continued the route selection process and preliminary design on two cross city corridors namely Blanchardstown to UCD and Clongriffin to Tallaght that form part of the proposed Dublin core Swiftway network. The route selection process for Blanchardstown to UCD will be completed in 2014 following stakeholder and public consultation. In October, RPA commenced work on producing the necessary documentation for a planning application for submission to An Bord Pleanála in Risk Management A comprehensive risk management system is in place for the evaluation, prediction and management of risks that might expose the Agency to loss. The system supports the effective management of risk by RPA throughout all business activities. The system involves the identification, management and, where possible, the mitigation of significant risks. Removal of Lady Grattan Fountain in March 2014 FINANCIAL REVIEW CAPITAL STRUCTURE AND TREASURY POLICY RPA s treasury policies and activities were continuously reviewed by both the Board and management throughout. Careful consideration was given to the level of counterparty risk being accepted when depositing money with financial institutions. RPA retained its conservative policy governing counterparty risk acceptable when making deposits. This policy directly influences the level of deposit interest earned from RPA funds and consequently this income stream has been reducing over recent years. RPA policy in relation to acceptable sureties for the purposes of contract performance bonds or payment guarantees was amended to reflect the realities of significant changes in that market in Ireland. RPA s overall treasury policies are compiled on a conservative basis and are reviewed regularly and amended as deemed necessary. The implementation of robust systems of internal control and the adoption of conservative treasury policies contributed to the achievement of the key objectives of RPA in. RPA continues to fund capital and current expenditures through Exchequer grants and advances, development levy income, bilateral agreements and more recently with income from secondment and consulting activities. During, RPA continued to work closely with the NTA and local authorities to maintain existing development levy schemes and in the development of new schemes. Funding from the levy schemes is designed to capture some of the long term land / property development gains arising from the provision of the infrastructure. Work was carried out in to identify possible alternative sources of funding for Luas Cross City. The main source of funding for RPA continues to be Exchequer grants and advances provided by the Exchequer via the Department of Transport, Tourism and Sport and the National Transport Authority. The continued close cooperation between RPA, the NTA and the Department of Transport, Tourism and Sport facilitated the Agency in achieving its funding objectives in. In December, RPA and NTA concluded an agreement governing the use of RPA s cash deposits. The agreement, approved by the RPA Board in January 2014, ensures that together with Exchequer advances, sufficient funds will be available for the funding of the Luas Cross City project liabilities as they arise during the project. RPA held short term cash deposits at 31 December of 47.3m (: 45.9m). The cash deposits include accumulated surpluses from the infrastructure business, development levies, a maintenance provision and Exchequer funding. RPA had no borrowings at 31 December. Interest of 0.7m (: 2.1m) was earned during from short term cash balances held. Interest charges of 0.09m (: 0.2m) arose during the year. Cash surpluses are only deposited with banking institutions with an appropriate credit standing.

10 16 RPA ANNUAL REPORT 17 RPA ANNUAL REPORT Agency Information Board Members Board Members: Ms. Jacqueline Cross Mr. Ciarán MacSamhráin Ms. Sandra Murphy (Appointed on 07 June ) Mr. David O Connor Mr. Pearse O Hanrahan (Warrant expired on 23 November ) Mr. Cormac O Rourke, Chairman Mr. Declan Walsh Cormac O Rourke Chairman Jacqueline Cross Member Ciarán MacSamhráin Member Sandra Murphy Member Acting Chief Executive: Solicitors: Bankers: Mr. Rory O Connor Secretary: Mr. Fergal Ruane Arthur Cox Earlsfort Centre Earlsfort Terrace Dublin 2 Bank of Ireland Head Office Lower Baggot Street Dublin 2 Auditors: Deloitte & Touche Chartered Accountants and Statutory Audit Firm Earlsfort Terrace Dublin 2 Ulster Bank Head Office Georges Dock Dublin 2 David O Connor Member Declan Walsh Member

11 18 RPA ANNUAL REPORT 19 RPA ANNUAL REPORT Members Report Financial Statements for the Year Ended 31 December The Members of the Railway Procurement Agency present their report and financial statements for the Agency for the year ended 31 December. Functions of the Agency RPA is an independent statutory body that was established under the Transport (Railway Infrastructure) Act The principal statutory functions of RPA under this founding legislation are the provision of light rail and metro infrastructure and the procurement of light rail and metro services. Since the commencement of the Dublin Transport Authority Act in 2008, RPA has exercised those functions under assignment from NTA. In September 2011, RPA s powers were extended to enter into agreements with NTA to advance the development of one or more Bus Rapid Transit (BRT) systems for the NTA, which has been identified as an objective for Dublin in the NTA s Integrated Implementation plan Results for the Year The Income and Expenditure Account for the year ended 31 December and the Balance Sheet at that date are set out on pages 24 and 26. The deficit on ordinary activities for the year before taxation amounted to 1.6m (: Deficit 1.6m). Financial performance of Luas Infrastructure activities improved significantly during and is forecast to improve further returning to a surplus position in In, the net financial impact of the activities of the business after interest and tax was to transfer a deficit of 1.7m to reserves (: Deficit 2.3m). The licensing of the Luas Red and Green line infrastructure to Transdev to deliver passenger services generated a deficit of 3.8m (: Deficit 5.0m). Current forecasts assume continued improvements in patronage, fare increases that match cost inflation, effective cost control and no dis-improvement to the commercial terms of the operating contract. These assumptions will be critical if the business is to return to surplus as forecast. The park and ride and advertising business generated net income of 2.2m ( 2.2m). Interest earned from the cash reserves of the business fell from 0.9m to 0.3m as interest rates deteriorated significantly each time deposits were rolled over. Post Balance Sheet Events There have been no significant events since the year end that would result in adjustment to the financial statements or inclusion of a note to them. Statement of Members Responsibilities in respect of the Financial Statements The Transport (Railway Infrastructure) Act 2001 requires the Members to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Agency and of the surplus or deficit of the Agency for that year. In preparing those financial statements, the Members are required to: Select suitable accounting policies and then apply them consistently; Make judgements and estimates that are reasonable and prudent; and Prepare the financial statements on a going-concern basis unless it is inappropriate to presume that the Agency will continue in business. The Members confirm that they have complied with the above requirements in preparing the financial statements. The Members are also responsible for safeguarding the assets of the Agency and for taking reasonable steps for the prevention and detection of fraud and other irregularities. In addition, the Members are required to include in the Annual Report a statement on the system of internal financial control in accordance with the requirements of the Code of Practice for the Governance of State Bodies (2009). Books of Accounts The Acting Chief Executive, under the direction of the Members, is responsible for ensuring that proper books and accounting records, as outlined in Section 19 of the Transport (Railway Infrastructure) Act 2001, are kept by the Agency. To achieve this, the Acting Chief Executive has put in place a professionally staffed finance function and an effective financial reporting and management information system. The books and accounting records are maintained at Parkgate Street, Dublin 8. Members and Secretary The present Members and Secretary are listed on page 16 and all, except as indicated, have served throughout the year. Fees paid to Members during the year and their attendance at board meetings were as follows; Member Fees Attendance at board meetings [Of 11] Jacqueline Cross 13 9 Ciarán MacSamhráin Sandra Murphy* 7 7 David O Connor Nil 10 Pearse O Hanrahan* 11 6 Cormac O Rourke Nil 11 Declan Walsh Nil 11 *Sandra Murphy was appointed on 07 June. Pearse O Hanrahan s warrant expired on 23 November. In accordance with the Department of Public Expenditure and Reform Guidelines on the one person, one salary principle for public sector employees, no fees are paid to David O Connor or Declan Walsh. Cormac O Rourke waived his fees. Expenses paid to Members during the year amounted to 2,913 comprising of travel, accommodation and meals. Audit Committee The Agency s Audit Committee in was made up of Pearse O Hanrahan (Chairperson), Jacqueline Cross, Sandra Murphy and Declan Walsh. Sandra Murphy was appointed to the Audit Committee on 23 June and was appointed Chairperson of the Committee as of 20 November. Pearse O Hanrahan s warrant expired on 23 November. The Audit Committee reports to the Members on all aspects of financial reporting and accounting policy and reviews the effectiveness of the Agency s system of internal financial control. The Agency s external auditors meet with the Committee to review the results of the annual audit of RPA s financial statements. The members of the Committee availed of the opportunity to meet privately with the external auditors at this meeting. Remuneration Committee The Agency s Remuneration Committee in comprised Jacqueline Cross (Chairperson), Pearse O Hanrahan and Declan Walsh. Pearse O Hanrahan s warrant expired on 23 November. David O Connor was appointed to the Committee on 26 November. The Remuneration Committee is responsible for making policy recommendations to the Board on matters of remuneration of the Chief Executive and general remuneration matters in the Agency. No bonuses or pay increases have been granted since A reduction in salaries was implemented in July following the enactment of the Financial Emergency Measures in the Public Interest Act. Responsibility for the System of Internal Financial Control The Members acknowledge their responsibility for ensuring that an effective system of internal financial control is maintained and operated in the Agency. Such a system can only provide reasonable and not absolute assurance that the assets of the Agency are safeguarded, transactions authorised and properly recorded and that material errors or irregularities are either prevented or detected in a timely period. Corporate Governance and Controls The Members have taken steps to ensure an appropriate control environment in the Agency by: Adopting clear and best-practice structures and procedures through which the business of the Members is conducted; Clearly defining management responsibilities and ensuring that appropriate resources and training are made available; and Establishing formal procedures for determining and reporting significant control failures and ensuring appropriate corrective action is taken in a reasonable timeframe.

12 20 MEMBERS REPORT CONTINUED 21 RPA ANNUAL REPORT The Members have established processes to identify and evaluate business risks through the establishment of a risk management system. This system operates at project, functional and enterprise levels. The essential elements of this system are as follows: Monitoring the System of Internal Financial Control The Members and the Audit Committee monitor the effectiveness of the system of internal financial control throughout the year. This is done through the preparation and review of: Identification of the nature, extent and financial implications of risks facing the Agency; Assessment of the likelihood of identified risks occurring; Identification of suitable methods of risk management and mitigation; Allocation of responsibility of the management and mitigation of identified risks; Monitoring of progress and compliance with mitigation actions; Reviewing of the effectiveness of the operation of the risk management systems; and Regular reporting to Members on material issues arising. System of Internal Financial Control The system of internal financial control in RPA incorporates quality management information and regular Board and management review within a structure that provides for appropriate segregation of duties, authorised delegation of authority and clear accountability. In particular it includes: A comprehensive budgeting system with an annual budget that is agreed and then reviewed monthly by the Board; Monthly review by the Board of management accounts which compare and explain financial performance against forecast and budget; Clearly defined procurement, treasury and capital investment control guidelines; and Formal project management procedures. Regular management accounts and project reports; Audit reports from the internal audit function; and Reports from the external auditors. The Members also regularly review the activities of the Agency with the Acting Chief Executive and other senior management. RPA has an internal audit function, which operates in accordance with the framework set out in the Code of Practice for the Governance of State Bodies (2009). The internal audit function prepares a plan of work each year. This plan takes into account an analysis of the risks to which the Agency is exposed and is approved by the Audit Committee. The internal audit function submits an annual report to the Audit Committee which includes a summary of internal audit activity for the past year and the Internal Audit Manager s opinion on the adequacy and effectiveness of the system of internal financial control in the Agency. This report is additional to regular reports provided to the Audit Committee by the internal audit function throughout the year. Annual Review of Controls We can confirm that since our last report a review of the effectiveness of the system of internal financial control has been carried out and has been deemed to be satisfactory. Insurance The Agency maintains insurance policies for damage and loss of owned/third party property and for its potential liabilities to employees and third parties. Legal and Regulatory Compliance The Agency complies with the Code of Practice for the Governance of State Bodies and other relevant codes of practice and guidelines published by Government for state bodies. RPA has processes in place to seek to ensure that the Agency complies with legal and regulatory obligations. While not a company under the Companies Acts, but rather a statutory body corporate, RPA has sought to comply with the requirements of the Companies Acts 1963 to where applicable. RPA is subject to the Ethics in Public Office Acts 1995 and 2001 and has measures in place to ensure that all directors and office holders affected by the Acts comply with their obligations. RPA had procedures in place in to comply with the Safety, Health and Welfare at Work Act, 2005 and the regulations made under the Act. RPA has teams dedicated to environmental management and to health and safety management matters in order to ensure compliance with law and best practice in these areas. RPA continues to comply with the Department of Transport Sectoral Plan for Accessible Transport published pursuant to the Disability Act RPA released the Luas VI App for Vision Impaired users on Apple ios in Nov and this has generated a very healthy download rate. RPA also developed a pedestrian pathway from Tallaght Luas Stop to Tallaght Hospital, completed on site and due to open to the public once works to rear entrance of the hospital have been carried out by the Hospital. The gently sloping ramped access significantly shortens the distance for visitors to the hospital travelling by Luas. The installation of double-sided passenger information displays on all new stops and the gradual roll-out of double-sided PIDs on all existing Red and Green Line stops has been of significant benefit to all users of the system. RPA was compliant with relevant employment law and guidelines, including national pay agreements in. The Members are fulfilling their responsibility to ensure compliance, in all material respects, with the provisions of the European Communities (Late Payments in Commercial Transactions) Regulations, 2002 ( The Regulations ). Auditors Deloitte & Touche, Chartered Accountants, were appointed in October and will continue in office. On behalf of the Members Cormac O Rourke Chairman Rory O Connor Acting Chief Executive 29 April 2014

13 22 RPA ANNUAL REPORT 23 RPA ANNUAL REPORT Independent Auditor s Report To The Members Of Railway Procurement Agency On The Financial Statements We have audited the financial statements of Railway Procurement Agency for the year ended 31 December which comprise the Income and Expenditure Account, the Statement of Total Recognised Gains and Losses, the Reconciliation of Movement in Agency s Funds, the Balance Sheet, the Cash Flow Statement and the related notes 1 to 25. The financial reporting framework that has been applied in their preparation is Irish law and accounting standards issued by the Financial Reporting Council and promulgated by the Institute of Chartered Accountants in Ireland (Generally Accepted Accounting Practice in Ireland). This report is made solely to the Agency s members as a body in accordance with Section 19 of the Transport (Railway Infrastructure) Act, Our audit work has been undertaken so that we might state to the Agency s members, those matters we state to them in our auditors report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Agency and the Agency s members as a body, for our audit work, for this report, or for the opinions we have formed. Respective responsibilities of members and auditors As explained more fully in the Statement of Members Responsibilities the members are responsible for the preparation of the financial statements giving a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with Irish law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board s Ethical Standards for Auditors. Scope of the audit of the financial statements An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the Agency s circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the Members; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the Annual Report to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report. Opinion on financial statements In our opinion the financial statements give a true and fair view, in accordance with Generally Accepted Accounting Practice in Ireland, of the state of the affairs of the Agency as at 31 December and of the deficit for the year then ended. Opinion on other matters We have obtained all the information and explanations which we consider necessary for the purposes of our audit. In our opinion proper books of account have been kept by the Agency. The financial statements are in agreement with the books of account. In our opinion the information given in the Members Report is consistent with the financial statements. Matters on which we are required to report by exception We have nothing to report in respect of the following: Under the Code of Practice for the Governance of State Bodies (the Code of Practice ) we are required to report to you if the statement regarding the system of internal financial control required under the Code of Practice as included in the Members Report does not reflect the Agency s compliance with paragraph 13.1 (iii) of the Code of Practice or if it is not consistent with the information of which we are aware from our audit work on the financial statements. Deloitte & Touche Chartered Accountants and Statutory Audit Firm Dublin Date: 29 April 2014

14 24 RPA ANNUAL REPORT 25 RPA ANNUAL REPORT Income and Expenditure Account For the year ended 31 December Note Operating deficit 2 (2,274) (3,610) Interest payable and similar charges 6(a) (86) (218) Other finance income 6(b) Interest receivable 6(c) 714 2,135 Deficit on ordinary activities before taxation (1,558) (1,600) Taxation credit /(charge) on deficit on ordinary activities 9 20 (113) Retained deficit for the year (1,538) (1,713) Approved by the Members on 29 April 2014 Cormac O Rourke Chairman Rory O Connor Acting Chief Executive Statement of Total Recognised Gains and Losses For the year ended 31 December Note Retained deficit for the year (1,538) (1,713) Actuarial gain recognised in retirement benefit scheme 22 1, Increase in irrecoverable surplus on retirement benefit scheme 22 (1,904) (24) Total recognised losses for the year (1,509) (1,711) Reconciliation of Movement in Agency s Funds For the year ended 31 December Agency s Funds Reserve Total Agency s Funds Reserve Total Retained deficit for the year (1,538) - (1,538) (1,713) - (1,713) Other recognised gains Movement for the year (1,509) - (1,509) (1,711) - (1,711) Transfer from Reserve 1,711 (1,711) - 2,315 (2,315) - Net movement for the year 202 (1,711) (1,509) 604 (2,315) (1,711) At 1 January 4,773 17,754 22,527 4,169 20,069 24,238 At 31 December 4,975 16,043 21,018 4,773 17,754 22,527

15 26 RPA ANNUAL REPORT 27 RPA ANNUAL REPORT Balance Sheet At 31 December Cash Flow Statement For the year ended 31 December Assets employed Note Operating activities Note Fixed assets Net cash outflow from operating activities 21(a) (3,793) (8,854) Tangible fixed assets 10 1,093,459 1,120,806 Returns on investments and servicing of finance Current assets Debtors 11 9,268 8,357 Interest received 1,120 3,481 1,120 3,481 Bank and cash deposits 12 47,315 45,937 56,583 54,294 Creditors (amounts falling due within one year) 13 (14,458) (13,306) Taxation Corporation tax paid (270) (436) Net current assets 42,125 40,988 Provisions for liabilities and charges 16 (158,141) (140,318) Creditors (amounts falling due after one year) 14 (33,470) (34,409) Net Assets excluding pension asset 943, ,067 Pension Asset Net Assets 944, ,872 Represented by Capital expenditure and financial investment Payments to acquire tangible fixed assets (21,239) (23,254) Development levies and contributions 1, Grants 23,922 22,897 Net inflow/(outflow) from capital cashflows 4,321 (24) Net cash inflow/(outflow) before financing 1,378 (5,833) Reserves Agency s Funds 15 4,975 4,773 Reserve 15(a) 16,043 17,754 Grants , ,998 Financing Refunded Exchequer advances - (14,038) Increase/(decrease) in cash 21(b) 1,378 (19,871) Other Funding 18 35,383 33,347 Capital and reserves 944, ,872 Approved by the Members on 29 April 2014 Cormac O Rourke Chairman Rory O Connor Acting Chief Executive

16 28 RPA ANNUAL REPORT 29 RPA ANNUAL REPORT Notes to the Financial Statements For the year ended 31 December 1. Accounting Policies A. Accounting Convention The financial statements have been prepared under the historical cost convention. B. Grants and Other Funding Capital Grants received and receivable for capital projects are retained in a grants account and amortised to the income and expenditure account as the related assets are depreciated. Grants are provided under the NTA Capital Funding Programme, the Exchequer funding for which is provided by the Department of Transport Tourism and Sport under their capital envelope for transport capital projects, i.e. Greater Dublin Area (GDA) capital programme. Other Funding in the form of development levies and developer contributions received by the Agency and which (subject to the provisions of relevant agreements) are utilised to fund capital expenditure are retained in a development levies and developer contributions account and amortised to the income and expenditure account as the related assets are depreciated. Development levies are collected by Local Authorities under the relevant legislative provisions. Developer contributions arise through the conclusion of bilateral agreements with private individuals, companies or partnerships. Grants provided by the Exchequer for the implementation of certain projects for which development levy schemes are adopted may subsequently be designated repayable in accordance with the terms of a project specific Ministerial Direction. Where such obligations exist, estimates of the repayable amounts of any grants received are made based on the information available and the terms of the Ministerial Direction. The amount of grant income that has been received and is estimated to be repayable is retained as a long term liability. In arriving at the estimated amount, management must consider a number of risks and uncertainties including development risk, premature cessation of levy scheme, project completion risk and change of law. Revenue grants are recognised in the income and expenditure account in the same period as the expenditure being funded. These grants are received from two sources; 1. The RPA Administrative and Expenses Programme from the Department of Transport, Tourism and Sport for corporate activities. 2. The NTA GDA Capital Funding Programme. These grants are approved on a project specific basis. C. Tangible Fixed Assets and Depreciation All expenditure on the acquisition of capital assets, or expenditure which significantly adds to the value, capacity in use, or useful economic life of existing assets, is capitalised as a fixed asset. Where expenditure relates to the acquisition or creation of an asset that is not operational or in service at the balance sheet date then such expenditure is presented as Assets under Construction and is not depreciated. Assets under Construction are assessed for impairment each year. Expenditure relating to the consideration on the acquisition of property assets is capitalised as a fixed asset only when the property transaction has been fully completed. Expenditure relating to consideration incurred in respect of property assets prior to completion of the transaction is included in prepayments. Historically, interest payable on borrowings to finance capital assets was capitalised. Capitalisation of interest costs ceases when substantially all the activities that are necessary to get the asset ready for use are complete. Luas infrastructure assets are depreciated as they enter revenue service and any grants received in respect of their purchase are amortised on the same basis. Other fixed assets are depreciated when they are brought into use. Depreciation is calculated to write off the cost of tangible fixed assets on a straight-line basis over the estimated useful lives as follows: Years Bridges, underpasses, civil works & enabling works 50 Buildings 30 Track Control & Communication systems Power Fare collection 5-15 Park & Ride 30 Luas rolling stock & equipment Furniture & fittings, lifts and spares Office fixtures and equipment 3-5 Enhancement to leasehold premises 10* Motor vehicles 5 As a result of a review of fixed assets undertaken in, there has been a change in the rate of depreciation for certain asset groups. The net book value of the assets at was depreciated over the new remaining useful lives of the assets. * Enhancements to leasehold premises are depreciated over 10 years, or over the remaining life of the lease, whichever is shorter. D. Capitalisation Expenditure is capitalised in respect of transport infrastructure assets and passenger transport facilities under construction and development activity on Government approved capital projects. For the purposes of these policies, Government approval for light rail or metro projects has been defined by reference to the date of submission of a railway order application except where agreement has been obtained from the Government to fund capital expenditure in advance of the receipt of a railway order. Expenditure on feasibility studies and preliminary design for potential but unapproved capital projects is written off to the income and expenditure account in the year of expenditure. E. Pensions Defined Contribution Scheme Pension benefits are funded over the employees period of service by way of contributions to a defined contribution scheme. Contributions are charged to the income and expenditure account as they become payable. F. Pensions Defined Benefit Scheme The Agency has provided for its obligations regarding staff pensions in accordance with the provisions of FRS 17 Retirement benefits. Schemes in surplus are shown as assets on the balance sheet net of deferred tax impact. Schemes in deficit together with unfunded schemes are shown on the balance sheet as liabilities net of the deferred tax impact. Actuarial gains and losses are recognised immediately in the statement of total recognised gains and losses. The maximum amount of surplus that can be recognised on the balance sheet is limited to the value of an employer contribution holiday in perpetuity, measured using the FRS17 basis. Any irrecoverable amount is recognised in the Statement of Total Recognised Gains and losses. G. Taxation and Deferred Taxation Corporation tax payable is provided on taxable surpluses at the current rate. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at the balance sheet date that result in an obligation to pay more tax or a right to pay less tax in the future. Timing differences are differences between the surplus or deficit as computed for taxation purposes and the surplus/deficit as stated in the financial statements, which arise because certain items of income and expenditure in the financial statements are dealt with in different periods for taxation purposes. A net deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable surpluses from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured at the tax rates that are

17 30 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER CONTINUED 31 RPA ANNUAL REPORT expected to apply in the periods in which the timing differences are expected to reverse based on the tax rates and laws enacted or substantively enacted at the balance sheet date. Deferred tax is measured on a non-discounted basis. H. Reserve Surpluses generated on the Infrastructure Business are transferred to a reserve. This reserve is utilised to fund future refurbishment of the Luas infrastructure, future operating deficits and the Luas Cross City project. 2. Operating Deficit I. Provisions for Liabilities and Charges Provisions for track restoration, legal and insurance claims and grants repayable are recognised when the Agency has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required to settle the obligation and the amount has been reliably estimated. Provisions are measured at the present value of the expenditure expected to be required to settle the obligation using a pre tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to the passage of time is recognised as an interest expense. 3. Deficit on Luas Infrastructure Activities The deficit on Luas infrastructure activities is arrived at after crediting / (charging): Net deficit on provision of Luas infrastructure (3,787) (5,007) Net surplus generated from Luas associated assets 2,207 2,200 Local authority rates (630) (634) Deficit on Luas infrastructure activities before interest and tax (2,210) (3,441) Interest attributable to Luas infrastructure activities Tax credit attributable to Luas infrastructure activities Depreciation on self-funded assets (19) (12) Transferred from Reserves (1,711) (2,315) The operating deficit has been arrived at after crediting/(charging): Note Deficit on Luas infrastructure activities before interest and tax 3 (2,210) (3,441) Project development and agency corporate expenses 4 (8,895) (10,288) Depreciation 10 (46,464) (43,096) Asset Impairments 10 (5,483) - (63,052) (56,825) Amortised levies and deferred credits 1,508 1,252 Grants 5 59,270 51,963 Operating deficit (2,274) (3,610) As a result of a review of fixed assets undertaken in, there has been a change in the rate of depreciation for certain asset groups. This has given rise to an increase in depreciation of 2.6m in using the revised rates. The depreciation charge for the Luas infrastructure activities was 46,258,000 (: 42,843,000) and is included in the total depreciation charge in note Project Development and Agency Corporate Expenses Project development and agency corporate expenses are split as follows: Project development 1,606 2,984 Agency corporate expenses 9,067 8,206 Secondment/consultancy income (1,778) (902) 8,895 10,288 Depreciation of 206,000 (: 253,000) relates to agency corporate activities. Project development costs include the costs of developing infrastructure projects prior to submission of a railway order application.

18 32 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER CONTINUED 33 RPA ANNUAL REPORT 5. Grants - Income and Expenditure Account Grants represent revenue grants receivable for the year ended 31 December and capital grants amortised. Grants are received from the Exchequer. Grants included in the income and expenditure account are as follows: Revenue grants 8,850 10,131 Capital grants 44,937 41,832 Grants on asset impairments 5, Interest and Other Finance Charges A Interest Payable and Similar Charges 59,270 51, Deficit on Ordinary Activities Before Taxation The deficit on ordinary activities before taxation is stated after charging / (crediting): Depreciation 46,464 43,096 Auditors remuneration - audit fee other assurance services tax advisory services other non-audit services 2 50 Grants (59,270) (51,963) Amortisation of levies and deferred credits (1,508) (1,252) Operations lease charges: Plant & Machinery Interest payable for the year Office premises Included in the income and expenditure account B Other Finance Income Under FRS 17 Retirement benefits, the net of the interest on the defined benefit scheme pension liabilities and the expected return on assets of 87,800 (: Income 93,000) is recorded as finance income adjacent to interest (see note 22). C Interest Receivable on Short Term Deposits Interest receivable for the year 714 2,135 Included in the income and expenditure account 714 2,135 Members remuneration excluding Acting Chief Executive: Fees Salaries Pension Acting Chief Executive s remuneration: Salary* Pension 3 5 Other benefit 3 1 * The comparatives are from commencement as Acting Chief Executive on 07 August.

19 34 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER CONTINUED 35 RPA ANNUAL REPORT 8. Employees The average number of persons employed by the Agency (including Members) during the year was as follows: Number Number Corporate and project support services Projects and infrastructure management Tax on deficit on Ordinary Activities A. Analysis of Income and Expenditure Account Charge: Current tax: Deferred tax credit for the year (119) (323) Corporation tax charge on deficit for the year Adjustment in respect of previous years The staff costs comprise: Tax (credit)/charge on deficit on ordinary activities (20) 113 B. Reconciliation of the Expected Tax Charge at the Standard Rate to the Actual Tax Charge at the Effective Rate. Wages and salaries 12,513 12,577 Social welfare costs 1,219 1,282 The tax assessed for the year is higher (: higher) than the tax assessed at the standard rate of corporation tax in the Republic of Ireland of 12.5% (: 12.5%). The differences are explained below: Pension costs 1,213 1,205 14,945 15,064 Deduct: staff costs capitalised in fixed assets (6,684) (7,427) Included in the income and expenditure account 8,261 7,637 Deficit on ordinary activities before taxation (1,558) (1,600) Deficit on ordinary activities multiplied by the standard rate of corporation tax in the Republic of Ireland of 12.5% (:12.5%) (195) (200) Other timing differences 29 6 Higher rates of tax on passive income Adjustment to tax charge in respect of previous year Current tax charge for year C. Circumstances Affecting Current and Future Tax Charges, and Deferred Tax The deferred tax credit of 0.1m consists of a credit of 0.02m on the pension asset and a credit of 0.1m relating to deferred tax on accrued deposit interest (: 0.3m).

20 36 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER CONTINUED 37 RPA ANNUAL REPORT 10. Tangible Fixed Assets 11. Debtors (Amounts Falling Due Within One Year) Cost Luas Infrastructure 000 Assets Under Construction 000 Rolling Stock & Equipment 000 Office Fixtures & Equipment 000 Enhancement to Leasehold Premises 000 Motor Vehicles At 1 January 1,089, , ,109 3, ,390,460 Additions in year 3,417 14,230 6, ,600 Disposals (30) (30) Impairment in year - (5,483) (5,483) At 31 December 1,092, , ,988 3, ,409,547 Accumulated Depreciation At 1 January 191,841-74,084 2, ,654 Depreciation charge 35,213-11, ,464 Disposals (30) (30) At 31 December 227,054-85,129 3, ,088 Net Book Value At 31 December 897, , , ,120,806 At 31 December 865, , , ,093,459 Aggregate interest payable of 3,361,000 has been capitalised as part of tangible fixed assets to date (: Nil; : Nil). As a result of a review of fixed assets undertaken in, there has been a change in the rate of depreciation for certain asset groups. This has given rise to an increase in depreciation of 2.6m in using the revised rates. 000 Total 000 Prepayments and other debtors 4,847 4,723 Grants receivable 3,493 2,936 VAT receivable Corporation tax Bank and Cash Deposits 9,268 8,357 Cash and bank 47,315 45, Creditors (Amounts Falling Due Within One Year) 47,315 45,937 Trade creditors and accruals 11,577 10,585 Grants received in advance 2,881 2, Creditors (Amounts Falling Due After One Year) 14,458 13,306 Deferred income 33,470 34,409 33,470 34,409

21 38 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER CONTINUED 39 RPA ANNUAL REPORT 15. Agency s Funds At 1 January 4,773 4,169 Deficit retained for the year (1,538) (1,713) Actuarial gain recognised in retirement benefit scheme (Note 22) 1, Change in irrecoverable surplus on retirement benefit scheme (Note 22) (1,904) (24) Transfer from Reserve (Note 15a) 1,711 2,315 At 31 December 4,975 4,773 15a. Reserve At 1 January 17,754 20,069 Transfer to Agency s Funds (Note 15) (1,711) (2,315) At 31 December 16,043 17, Provisions for Liabilities and Charges Onerous Lease Restructuring Deferred Tax Grants Repayable Insurance & Legal Claims Track Restoration At 1 January 2, , , ,318 Notional Interest Movement in year (649) 305 (102) 17, (192) 17,737 At 31 December 2, , , ,141 The provisions have been made in accordance with the accounting policies as set out in Notes 1(b) and (i) to these financial statements. The Agency, through the holding of retentions and insurance bonds, has adequately provided for costs that may arise through contractual non-performance. Grants repayable include grants provided by the Exchequer as advance funding for the implementation of certain projects for which development levy schemes are in place and have been deemed repayable in accordance with Accounting Policy Note 1(b).These grants are repayable over the life of the levy schemes and as a result the provision is unlikely to fully unwind in the medium term. Total 16. Provisions for Liabilities and Charges (continued) Track restoration provisions relate to remediation and improvement costs to be incurred. The Agency expects that the provision will be utilised over the life of the related assets and as a result the provision is unlikely to fully unwind in the medium term. 17. Grants At 1 January 931, ,752 Received and receivable 33,363 25,501 Transfer to provisions for liabilities & charges (17,837) 22,708 Revenue grants released to income and expenditure account (8,851) (10,131) Accelerated amortisation in relation to project impairments (5,483) - Capital grants amortised (44,936) (41,832) At 31 December 888, ,998 Grants provided by the Exchequer as advance funding for the implementation of certain projects for which development levy schemes are in place may be repayable in accordance with the terms of a project specific Ministerial Direction. Any grants considered repayable are moved to long term liabilities in accordance with Accounting Policy Note 1(b). Revenue grants received from the Exchequer are held in the deferred grants account and released to the Income and Expenditure account to match related expenditure in the year. The grants received and accounted for under the NTA GDA Capital Funding Programme and RPA Administrative and Expenses Programme for the year to 31 December were 23.9m and 7.5m respectively. 18. Other Funding At 1 January 33,347 33,175 Developer contributions and development levies 2, Amortisation of levies (199) (161) At end of year 35,383 33,347 As outlined in Note 1(b), development levies and developer contributions received by the Agency are retained in a development levies and developer contributions account and amortised to the Income and Expenditure account as the related assets are depreciated. The onerous lease provision will be fully utilised within 3 years of the balance sheet date. Restructuring provisions relate mainly to redundancy and will be fully utilised within one year of the balance sheet date. The utilisation of the insurance and legal claims provision is dependent on the timing and settlement of the outstanding claims.

22 40 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER CONTINUED 41 RPA ANNUAL REPORT 19. Capital Commitments At the year end the following capital commitments authorised by Members had not been provided for in the financial statements; Contracted but not provided for 29,058 8,627 Authorised but not contracted for 47,449 9, Financial Commitments At 31 December, the company had annual commitments under non-cancellable operating leases expiring as follows; 76,507 18,584 Land & Buildings Other Operating Leases In one year or less - 24 In more than one year but not more than five years In more than five years At 31 December, the company had annual commitments under non-cancellable operating leases expiring as follows; In one year or less - 11 In more than one year but not more than five years In more than five years Cash Flow A. Reconciliation of Operating Deficit to Net Cash Outflow from Operating Activities Operating deficit (2,274) (3,610) Depreciation 46,464 43,096 Amortisation of levies and deferred credits (1,538) (312) Pension credit/(charge) - additional to operating surplus Asset Impairments 5,482 - (Increase)/decrease in debtors (252) 2,623 Grants (51,770) (43,713) Increase/(decrease) in creditors 54 (6,059) Decrease in provision for liabilities and charges (76) (974) B. Reconciliation of Net Cash Flow to Movement in Net Funds (3,793) (8,854) Increase/(decrease) in cash in the year 1,378 (19,871) Net funds at beginning of the year 45,937 65,808 Net funds at end of year 47,315 45,937 C. Analysis of Changes in Net Funds At 1 Jan Cash Flows At 31 Dec Cash deposits 45,937 1,378 47,315 45,937 1,378 47,315

23 42 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER CONTINUED 43 RPA ANNUAL REPORT 22. Pension Commitments The majority of Agency employees making contributions are members of a defined contribution scheme, details of which are provided below. The remainder of those employees who make pension contributions are members of the RPA defined benefit scheme established by the Agency in Details of the defined benefit scheme are provided below. Defined Contribution Scheme A defined contribution pension plan was set up in 2003 for the Agency staff who do not qualify for membership of the defined benefit scheme noted below. This plan does not give rise to any funding liability under FRS 17. The pension charge in respect of this plan is equal to the contributions payable by the Agency for the year, being 865,000 (: 918,000). Defined Benefit Schemes In order to comply with the provisions of sections 24 and 25 of the Transport (Railway Infrastructure) Act, 2001 the Agency established a defined benefit scheme in 2003 to provide for pension entitlements of those employees transferring from the CIE 1951 defined benefit scheme. The new scheme was set up using the template model scheme for public sector pension arrangements as issued by the Department of Finance, modified as necessary in order to replicate the benefits provided under the CIE 1951 defined benefits pension scheme. The defined benefit actuarial pension charge for the year was 194,000 (: 136,000), with 282,000 charged to operating deficit (: 229,000) and 88,000 credited to other finance income (: 93,000). The contribution to the RPA defined benefit scheme in the year was 25,000 (: 226,000). At 31 December an independent professionally qualified actuary carried out a full valuation of the assets and liabilities of the RPA scheme. Those assets and liabilities were valued using the projected unit method. A pension surplus of 682,000 (net of deferred tax) considered to be recoverable over the life of the scheme has been reported in the balance sheet. The valuation of the surplus under FRS 17 rules indicated a technical surplus of 3,631,000. However, the maximum amount of surplus that can be recognised on the balance sheet is limited to the value of an employer contribution holiday in perpetuity, measured using the FRS17 basis. Under these rules, only 780,000 is considered recoverable and as a result, the pension surplus has been reduced by 2,851,000 to limit the surplus to the estimated recoverable amount of 780,000. Deferred tax of 98,000 has been charged against the pension surplus. 22. Pension Commitments (continued) The amounts recognised in the balance sheet are as follows: Present value of the scheme liabilities (9,977) (11,045) Fair Value of scheme assets 13,608 12,912 Pension Surplus 3,631 1,867 Irrecoverable asset due to limit in paragraph 41 in FRS17 (2,851) (947) Assets recognised on the balance sheet Related deferred tax (98) (115) Net Pension Asset The amounts recognised in the income and expenditure account are as follows: Interest Cost (399) (448) Expected return on scheme assets Other Finance Income Current Service Cost included in agency corporate expenses (282) (229) (194) (136) Actual Return on plan assets 618 1,493 The amounts recognised in the Statement of Total Recognised Gains and Losses are as follows: Actual less expected return on scheme assets Experience gains 1, Change in assumptions underlying the present value of the scheme liabilities 494 (1,726) Actuarial gains recognised in STRGL 1, Change in irrecoverable surplus on retirement benefit scheme (1,904) (24) Total gain recognised in STRGL 29 2 The cumulative actuarial loss recognised in the statement of total recognised gains and losses up to and including 31 December is 2,243,000 (31 December : 2,272,000). Expected contributions for the year 31 December are Nil.

24 44 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER CONTINUED 45 RPA ANNUAL REPORT 22. Pension Commitments (continued) 22. Pension Commitments (continued) Movement in Scheme Assets and Liabilities Risks and reward arising from the assets Scheme Assets Scheme Liabilities Pension Surplus At 31 December the scheme assets were invested in the Irish Life Consensus Fund, the Irish Life Cash Fund, Irish Life 10 Year AAA Bond Fund, Irish Life Netherlands 2042 Bond Fund and Irish Life Irish Property Fund. The Trustees decide on the mix of assets based on the profile of the scheme. The fair value of the scheme assets as a percentage of total scheme assets are set out below: At 1 January 11,136 (9,385) 1,751 Current service cost - (229) (229) Interest on scheme liabilities - (448) (448) Expected return on scheme assets Actual less expected return on scheme assets Experience gain on liabilities Change in assumptions - (1,726) (1,726) Contributions by scheme participants 81 (81) - Employer contributions paid Benefits paid (24) 24 - At 31 December 12,912 (11,045) 1,867 At 1 January 12,912 (11,045) 1,867 Current Service Cost - (282) (282) Interest on Scheme Liabilities - (399) (399) Expected return on scheme assets Actual less expected return on scheme assets (as a percentage of total scheme assets) % Equities Bonds Other Scheme assets do not include any of the Railway Procurement Agency s own financial instruments, or any property occupied by the Railway Procurement Agency. Basis of expected rate of return on scheme assets The expected return on bonds is based on the yield on long term Eurozone government bonds which at 31 December was 2.00% (: 3.15%). For equities the long term rate of return is expected to exceed that of bonds by a margin, the risk premium. In assessing the equity risk premium, past returns have been analysed giving a risk premium of 3.00% above the long term Eurozone government bond yields, giving an assumed return of 5.00% (: 6.15%) The return on other scheme assets is expected at 1.1% (: 1.1%) which assumes a weighted return for cash of 1.0% and property 6.0%. Thus, the overall expected return on scheme assets at 31 December is 1.25% after allowance for pension levy of 0.75% in (Full Year : 3.8%). The principal actuarial assumptions at the balance sheet date: % Experience gain on liabilities - 1,308 1,308 Change in assumptions % % Contributions by scheme participants 77 (77) - Employer contributions paid Benefits paid (24) 24 - At 31 December 13,608 (9,977) 3,631 Discount rate Future salary increases Future pension increases Inflation rate All of the scheme liabilities above arise from a scheme that is wholly funded. Assumptions regarding future mortality are set based on advice from published statistics and experience.

25 46 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER CONTINUED 47 RPA ANNUAL REPORT 22. Pension Commitments (continued) The mortality assumptions are based on standard mortality tables which allows for future mortality improvement in the assumptions. There is one current pensioner in the scheme. Longevity for members retiring at 60. Years Years Male Female The History of Experience Gains and Losses has been: Present value of the scheme liabilities Amount (). (9,977) (11,045) (9,385) (8,574) (9,928) 23. Litigation and Claims The Agency, from time to time, is party to various legal proceedings. It is the opinion of the Members that losses, if any, arising in connection with these matters will not be materially in excess of provisions made in the financial statements. Note 16 to these financial statements gives details of the provision made in respect of insurance and legal claims at 31 December. 24. Related Party Transactions In the normal course of business the Agency transacts business with entities controlled by the Irish Government. The total value of business transacted was 5.7m in the year ended 31 December (: 12.0m). At year end, RPA had a financial relationship with Allied Irish Bank and National Treasury Management Agency. The yearend deposit balances with the banks were 42.6m and 4.4m respectively. 25. Comparative Figures Certain comparative figures have been reclassified to accord with their treatment in the current year. Fair value of scheme assets Amount (). 13,608 12,912 11,136 11,123 10,120 3,631 1,867 1,751 2, Irrecoverable surplus on retirement benefit scheme Amount (). (2,851) (947) (923) (1,544) - Pension surplus Amount () , Experience adjustments on scheme liabilities Amount (). 1, As a percentage of scheme liabilities at the balance sheet date (%) Experience adjustment on scheme assets Amount () (724) As a percentage of scheme assets at the balance sheet date (%) (6.5) Total amount recognised in statement of total recognised gains and losses Amount () (236) Percentage of the present value of scheme liabilities (%) (2.5)

26 49 RPA ANNUAL REPORT

27 Railway Procurement Agency Parkgate Business Centre Parkgate Street Dublin 8 T: F:

28 Gníomhaireacht um Fháil Iarnród Ráitis Airgeadais don bhliain dar críoch 31 Nollaig

29 1 RÁITIS AIRGEADAIS NA GFI Clár Ábhar Athbhreithniú Gnó Ráiteas an Chathaoirligh 3 Athbhreithniú an Phríomhfheidhmeannaigh Ghníomhaigh 5 Athbhreithniú Oibriúcháin agus Airgeadais 8 Eolas faoin ngníomhaireacht 16 Tuarascáil na gcomhaltaí 18 Tuarascáil na niniúchóirí Neamhspleácha 22 Athbhreithniú Airgeadais Cuntas Ioncaim agus Caiteachais 24 Ráiteas ar na Gnóthachain agus ar na Caillteanais Aitheanta Uile 25 Réiteach ar Ghluaiseacht i gcistí na Gníomhaireachta 25 Clár Comhardaithe 26 Ráiteas faoi Shreabhadh Airgid 27 Nótaí ar na Ráitis Airgeadais 28

30 2 RÁITIS AIRGEADAIS NA GFI 3 RÁITIS AIRGEADAIS NA GFI Ráiteas an Chathaoirligh Le linn tháinig méadú ar líon na bpaisinéirí ar Luas go dtí uas-fhigiúr nua de 30.5 milliún. Fágann an méadú leanúnach ar líon na bpaisinéirí go bhfuil gach dóchas ann go bhfillfidh Luas ar bharrachas oibríochta i Le linn, thosaigh an Ghníomhaireacht um Fháil Iarnród (GFI) ar oibreacha ar an síneadh Luas Traschathrach a chuirfidh ar chumas na GFI faoi dheireadh a sprioc fadtéarmach chun líonra comhtháite iarnróid sráide do Bhaile Átha Cliath a bhaint amach ag deireadh thiar trí sheirbhísí na Líne Glaise agus na Líne Deirge a nascadh le chéile. Táthar ag súil go nginfidh an síneadh 10 milliún turas breise paisinéara ar Luas i mbliain iomlán an túisce is a thosóidh seirbhísí paisinéara i Tá dul chun cinn suntasach déanta le linn freisin leis an gcumasc idir an GFI agus an túdarás um Bóithre Náisiúnta ar a n-áirítear ailíniú bhallraíocht an dá Bhoird agus dul chun cinn suntasach ar an reachtaíocht chumaisc. Nascfaidh an cumasc saineolas agus taithí an dá ghníomhaireacht fhíor rathúil seo chun eagraíocht a chruthú a bheidh ina chinnire i soláthar agus i gcothabháil infreastruchtúr iompair. Soláthróidh an cumasc coigilt trí éifeachtúlacht mhéadaithe i seachadadh tionscadal agus in oibriú is i gcothabháil infrastructúir. Ba mhaith liom aitheantas a thabhairt don tacaíocht a fuarthas ón Aire Iompair, Turasóireachta agus Spóirt, Leo Varadkar TD, ón Ard-Rúnaí Tom O Mahony agus ón a chuid oifigeach. Gabhann an Bord agus mé féin ár mbuíochas leo as a gcúnamh agus a dtacaíocht leanúnach. Leanfaidh an GFI de bheith ag obair leo chun seachadadh rathúil ár gcuid tionscadal a chinntiú. Cormac O Rourke Cathaoirleach 29 Aibreán 2014 Ba dheas liom an deis seo a thapú chun mo bhuíochas a ghabhail le Bord agus le foireann na GFI as a dtiomantas is as a dtacaíocht le linn. Ba mhaith liom freisin aitheantas a thabhairt d ionchur, do thacaíocht is do mhaoiniú an Údaráis Náisiúnta Iompair a chuir ar ár gcumas chun ár dtionscadal a fhorbairt agus a chur i bhfeidhm.

31 4 RÁITIS AIRGEADAIS NA GFI 5 RÁITIS AIRGEADAIS NA GFI Athbhreithniú an Phríomhfheidhmeannaigh Ghníomhaigh Bliain inar deineadh dul chun cinn ba ea don GFI. Bhí fás láidir leanúnach faoi Luas agus baineadh amach uas-líon nua paisinéirí don dara bliain as a chéile. Le linn na bliana fosta tosaíodh ar an obair tógála ar Luas Traschathrach a dhéanfaidh athrú suntasach ar na roghanna iompair poiblí do mhuintir Bhaile Átha Cliath. Bhí bliain rathúil eile ag Luas i agus tháinig méadú 4.5% ar líon na dturas paisinéara go dtí 30.5 milliún. Ábhar ar leith spreagtha ba ea an fás fíor-láidir ar shínte Luas Iarthar na Cathrach agus Luas Choill na Silíní. Bhí líon na bpaisinéirí ar na línte seo faoi bhun na bhfigiúr a rabhthas ag súil leo toisc nár tharla forbairtí, a bhí pleanáilte i gceantair abhantraí na línte, agus bhí droch-thionchar ar leibhéil arda dífhostaíochta ar an éileamh ar thurais chun oibre. Léiríonn daonáireamh bliantúil Luas malairt ghlan treochta agus fás idir 15% agus 20% faoi na figiúir ag na stadanna éagsúla ar na línte seo. Tugann se seo le fios go mbeidh fás láidir faoi Luas de réir mar a leanann an eacnamaíocht de bheith ag téarnamh. Le linn reáchtáil an GFI agus a páirtí oibriúcháin, Transdev, roinnt feachtas poiblíochta chun tabhairt ar dhaoine éirí as a gcarranna a úsáid agus casadh ar iompar poiblí. Bhí tóir ar leith ar ár bhfeachtas Kids Go Free do theaghlaigh agus ar tháillí íslithe Páirceála agus Taistil. Cuidíonn imeachtaí rialta Meet the Luas Manager linn plé díreach a bheith againn lenár gcustaiméirí i dtreo agus go dtuigimid conas is fearr is féidir linn caighdeán na seirbhíse a fheabhsú. Bhí Luas, i bpáirt leis an Údarás Náisiúnta Iompair, ar an soláthraí iompair poiblí ba thúisce a rinne caidhpeáil laethúil agus seachtainiúil ar úsáid chartaí Leap. Bé an toradh a bhí ar an bhfás ar líon na bpaisinéirí, chomh maith le céimeanna chun costais a ghearradh, ná gur laghdaíodh go mór an caillteanas ar Ghnó an Infreastruchtúir go dtí 2.2 milliún. Chuir an fheidhmíocht seo, a bhí níos fearr ná mar a rabhthas ag súil leis, ar ár gcumas íosmhéid d ardú ar na táillí a iarraidh ar an Údarás Náisiúnta Iompair don bhliain atá le teacht. Bé an tríú bliain de phlean cúig bliana na GFI chun gnó infreastruchtúir Luas a thabhairt thar n-ais chuig barrachas oibríochta, agus táimid de réir sprice chun é sin a bhaint amach faoi Maoiníodh caillteanas ó bharrachas carnaithe airgid an ghnó. Tosaíocht fhíor-ard don GFI is ea sábháilteacht agus slándáil chustaiméirí agus pearsanra Luas. Siúd is go bhfuil teist sábháilteachta den scoth ag Luas, níl glacadh ag Bord na GFI le haon eachtra sábháilteachta nó slándála agus, i bpáirt lenár n-oibreoir Transdev, d fheidhmigh an GFI roinnt céimeanna le linn na bliana chun déileáil le ceisteanna sábháilteachta agus slándála. Orthusan bhí tástáil agus trialacha le ceamara sholais deirg chun breith ar charranna a bhriseann soilse dearga ag acomhail Luas. Tionscadal é seo a bhfuilimid ag obair air i gcomhar le Comhairle Cathrach Bhaile Átha Cliath agus

32 6 ATHBHREITHNIÚ AN PHRÍOMHFHEIDHMEANNAIGH GHNÍOMHAIGH AR LEANÚINT 7 RÁITIS AIRGEADAIS NA GFI leis an ngarda Síochána. Lean Transdev agus an Garda Síochána d fhaireachán rialta ar thramanna chun cur in éadan iompar frithshóisialta. Leanann Luas de bheith ina rogha mealltach do chomaitéirí toisc go gcoimeádaimid caighdeán agus iontaofacht fhíor-ard sa chóras agus ar na tramanna. Lean an GFI de chlár athnuachana sócmhainní Luas i agus rinneadh athchóiriú mór ar leath de fhlít tramanna Luas. Tiocfaidh conradh reatha oibriúcháin Luas chun críche i 2014 agus chríochnaigh an GFI agus an túdarás Náisiúnta Iompair an chéim réamhcháilithe den próiseas tairisceana do chonradh nua oibriúcháin. Tuar dóchais do rath fadtéarmach a bheith ar Luas is ea caighdeán na gcuideachtaí réamhcháilithe. Bhain tionscadal Luas Traschathrach garsprioc thábhachtach amach i nuair a bronnadh na chéad conarthaí ar oibreacha cumasúchain agus nuair a tosaíodh ar an tógáil. Tá Luas Traschathrach ar an tionscadal iarnróid sráide is tábhachtaí ó osclaíodh na línte tosaigh Luas i Tá éileamh folaigh áirithe ann ar thurais thraschathrach agus meastar go mbeidh sé mar thoradh ar an éifeacht líonraithe nuair a nascfar an Líne Uaine agus an Líne Dhearg go dtiocfaidh méadú 30% ar thurais Luas. D oibrigh an GFI le linn na bliana i ndlúthchomhar leis an Údarás Náisiúnta Iompair, le Comhairle Cathrach Bhaile Átha Cliath, le hoibreoirí eile iompair agus leis an bpobal gnó chun oibreacha a phleanáil go cáiréiseach agus chun cur isteach a laghdú oiread agus a b fhéidir. Leagadh anbhéim ar chumarsáid agus ar chomhairliúchán leis an bpobal. Ceapadh Oifigigh Áitiúla Idirchaidrimh agus osclaíodh Oifig Eolais don Phobal i lár na cathrach. Faoi dheireadh na bliana, bhí na hoibreacha ar na conarthaí tosaigh cumasúcháin chun tosaigh go maith ar an gclár. Lean an GFI de bheith ag tacú leis an Údarás Náisiúnta Iompair faoi fhorbairt líonra Chóras Bus Gasta do Bhaile Átha Cliath agus iad ag díriú ar roghanna do bhealaí CBG chun Baile Bhlainséir a nascadh le Ollscoil na héireann, Baile Átha Cliath agus Cluain Ghrifín le Tamhlacht. Réiteach iompair poiblí cost-éifeachtúil d ardchaighdeán é CBG i gceantair nach bhfuil dóthain éilimh iontu do líne iarnróid sráide. Eochair-ghné i bplean athchóirithe an Rialtais don earnáil phoiblí is ea nascadh na GFI agus an Údaráis um Bóithre Náisiúnta chun soláthraí infreastruchtúir de chaighdeán domhanda a chruthú. D oibrigh an GFI i ndlúthchomhar leis an Roinn Iompair, Turasóireachta gus Spóirt i chun an aidhm seo a bhaint amach agus rinneadh dul chun cinn suntasach chun an dá eagraíocht a chomhtháthú agus ar na hathruithe reachtúla atá riachtanach chun an cumasc a chur i bhfeidhm. Mar chríoch, lean an GFI de bheith ag baint leasa as a saineolas innealtóireachta agus bainistíochta tionscadal trí obair sheachtrach a fháil sa bhaile agus go hidirnáisiúnta. I thuilleamar 1.8m ónár ngníomhaíochtaí comhairliúcháin agus sealscarúna, rud a chuir ar ár gcumas an maoiniú ar ghnóthaí corparáideacha, a fhaighimid ón Státchiste, a laghdú. Is do chaighdeán agus do thiomantas a mhuintire atá buíochas ag dul as ar bhain an GFI amach i. Bhí gairmiúlacht agus tiomantas fhoireann na GFI bunriachtanach chun ár spriocanna don bhliain a bhaint amach ag am nuair a bhí athruithe agus éiginnteacht nach beag ann. Tá rath fadtéarmach Luas ag brath ar sheirbhís den scoth a chur ar fáil so na custaiméirí agus ar shár fheidhmíocht an chórais agus ba mhaith liom buíochas a ghabháil le bainistíocht agus le foireann ár n oibreora, Transdev, agus lenár gcothabhálaigh, Alstom agus Dalkia, as a dtiomantas leanúnach do na caighdeáin is airde sna réimsí seo. Ba dheas liom buíochas a ghabháil lenár gcustaiméirí as a ndílseacht leanúnach do Luas agus táim ag súil le breis fáis fós ar líon na bpaisinéirí sa bhliain atá romhainn amach. Ag deireadh thiar, ba mhaith liom buíochas a ghabháil le Cathaoirleach agus le Bord na GFI as a dtacaíocht leanúnach le linn na bliana seo ghabh tharainn. Rory O Connor Príomhfheidhmeannach Gníomhach 29 Aibreán 2014

33 8 RÁITIS AIRGEADAIS NA GFI 9 RÁITIS AIRGEADAIS NA GFI Athbhreithniú Oibriúcháin agus Airgeadais ATHBHREITHNIÚ OIBRIÚCHÁIN EOCHAIR-ÉACHTAÍ I Feidhmíocht Airgeadais Bhain an GFI laghdú de 25% ar chaiteachas corparáideach amach idir 2011 agus Cuimsíonn caiteachas corparáideach gach caiteachas a bhaineann le reáchtáil na Gníomhaireachta nach mbaineann go díreach le forbairt infreastruchtúir nua. Laghdaíodh costais phárolla agus pinsin go 14.9m ó 22.0m. i Laghdaíodh meánlíon na foirne a bhí fostaithe ag an ngníomhaireacht ó 268 i 2011 go dtí 193 i. Lean an GFI de bheith ag plé le forais eile poiblí agus príobháideacha le gníomhaíochtaí comhairliúcháin agus sealscarúna rud a chuir ar ár gcumas foireann le heochair-scileanna agus le taithí a choinneáil tríd a gcostas a chlúdach le hioncam a tuilleadh. Le linn ghin an GFI 1.8m. d ioncam ó na gníomhaíochtaí sin. Leanann an GFI de bheith ag bainistiú a chúlchistí airgid ar bhealach a íoslaghdaíonn an riosca an fhaid is a bhaintear an leas is fearr as na torthaí. Tuilleadh iomlán de 0.7m úis ( 2.1m) ar chomharduithe le linn na bliana. Fágann an t ioncam seo roghanna ag an GFI agus ag an ÚNI chun tionscadail infreastruchtúir a mhaoiniú agus chun sócmhainní a athnuachan i ngnó infreastruchtúir Luas. Bhí caillteanas de 2.2m do ( 3.4m) ar ghnó infreastruchtúir Luas roimh ús agus cháin i gcomparáid le caillteanas de 2.7m a bhí á thuar sa bhuiséad. Táimid muiníneach go bhfuil an gnó ar sceideal chun barrachas a bhaint amach faoi OIBRÍOCHTAÍ TRACHTÁLA Gnó Infreastruchtúir Clúdaíonn líonra Luas 37 km anois, Luas Cheantar na ndugaí agus Luas Choill na Silíní san áireamh, i gcomparáid leis an 24 km tosaigh a osclaíodh i Thaisteal tramanna Luas 3.54 milliún ciliméadar i i gcomparáid le 2.3 milliún i gcéad bhliain a oibrithe (2005). Bhí an bhliain ba ghnóthaí fós ag Luas agus breis is 30m turas ar taifead don bhliain. Le linn leanamar dár gclár athnuachana sócmhainní de réir saolré lenár bhflít tosaigh tramanna. Cinnteoidh an obair seo go leanfaidh na tramanna de bheith ag soláthar ard-chaighdeán sábháilteachta, iontaofachta agus compoird, atá chomh tábhachtach sin dár bpaisinéirí. Beidh an chuid is mó den chlár reatha athnuachana sócmhainní de réir saolré nach mór curtha i bhfeidhm i gcás na dtramanna i 2014 agus aistreoidh an bhéim go dtí athnuachan eochair-ghnéithe den bhuan infreastruchtúr. Bhí caillteanas ar ghníomhaíochtaí infreastruchtúir Luas (roimh creidmheasanna cánach agus ús ar chúlchistí) de 2.2m ( 3.4m). D fheabhsaigh sé seo go dtí caillteanas de 1.7m ( 2.3m) nuair a cuireadh san áireamh ús a bhí tuillte ar chúlchistí carnaithe airgid an ghnó ag cur creidmheasa cánacha agus dímheas ar shócmhainní féin-mhaoinithe. Maoiníodh caillteanas as cúlchistí carnaithe airgid. Táthar ag tuar go bhfillfidh gnó infreastruchtúir Luas ar bharrachas i Tá réamhaisnéisí don ghnó ag glacadh le leibhéil choimeádacha fáis i líon na bpaisinéirí agus leibhéil den chineál céanna maidir le costas boilscithe. Is do na tréan-iarrachtaí a rinne an GFI, mar sholáthraí infreastuchtúir agus Transdev, mar sholáthraí seirbhíse iompair Luas, atá an chreidiúint ag dul as costais agus teacht isteach a chothromú. Bhí dlúth chomhoibriú ann idir foirne an dá eagraíocht agus rinneadar a gcion chun an feabhas riachtanach san fheidhmíocht airgeadais a bhaint amach. Tá an túni agus an GFI mar chomh-aonáin conraitheoireachta ag gabháil de phróiseas ath chur amach tairiscintí don chonradh ar sholáthar sheirbhísí iompair. Tosóidh an conradh nua i Tá trí tháirgeoir gafa faoi láthair leis an GFI sa phróiseas soláthair. Nuair a bheidh an próiseas soláthair curtha i gcrích táimid ag súil go mbeidh mar thoradh air go gcaomhnófar caighdeán sheirbhísí Luas don chéad tréimhse conartha eile agus é sin ar chostas iomaíoch. Sealscarúint agus Comhairleoireacht Ghabh an GFI uirthi féin seirbhísí sealscarúna agus comhairleoireachta a sholáthar do thríú páirtithe chomh maith le gníomhaireachtaí eile stáit agus le ranna Rialtais. Bhí an-rath ar an GFI agus a gníomhaíochtaí tráchtála á n éagsúlú aici taobh istigh de na téarmaí tagartha údaraithe le go nginfí foinsí nua ioncaim agus eochair-shócmhainní a choimeád chun Luas Traschathrach (LTC) a chur i bhfeidhm. Le linn leanamar den ioncam ón ngnó seo a mhéadú go príomha trí fhoireann a ligean ar shealscarúint le Gníomhaireachtaí poiblí eile. Is ionann seo agus gnó luachmhar le riosca íseal don Gníomhaireacht maille le coigiltis suntasacha airgeadais agus gníomhaíochta. Le linn thuill an GFI 1.8m ( 0.9m) ó na gníomhaíochtaí tráchtála seo. Seachadadh, Faomhadh agus Maoiniú Tionscadail Réitíonn an GFI cás cuimsitheach gnó do gach thionscadal infreastruchtúir atá á bheartú. Cuimsíonn an cás gnó seo meastacháin iompair, airgeadais agus eacnamaíochta an tionscadail. Cuimsíonn sé freisin na straitéisí is na pleananna do sholáthar is do mhaoiniú an tionscadail. Cuirtear an cás gnó ar fáil don ÚNI nuair atáthar ag iarraidh faomhadh do mhaoiniú an tionscadail. Agus maoiniú á lorg aici do thionscadail úra, bíonn sé mar aidhm ag an GFI an sciar riachtanach ón Státchiste a choinneáil chomh híseal agus is féidir agus maoiniú a lorg trí scéimeanna thobhaigh fhorbartha agus trí chomhaontaithe déthaobhacha leosan a bhainfidh leas díreach as an infreastruchtúr feabhsaithe

34 ATHBHREITHNIÚ OIBRIÚCHÁIN AGUS AIRGEADAIS RÁITIS AIRGEADAIS NA GFI AR LEANÚINT Oibreacha Seandálaíochta ag an gcloch Leathan mí an Mhárta 2014 Oibreacha Seandálaíochta ag an gcloch Leathan mí an Mhárta 2014 Comhthéacs an Tionscail Le linn na bliana, lean Luas de bheith ag seachadadh acmhainní suntasacha in infreastruchtúr iompair phoiblí Mhórcheantar Bhaile Átha Cliath. Is ionann an acmhainn buaicama a sholáthraíonn Líne Dhearg agus Líne Ghlas Luas agus 19,840 turas poiblí. Mhéadaigh líon na bpaisinéirí a d iompair Luas 4.5% ó 29.3 milliún i go dtí 30.5 milliún i. Timpeallacht Dhlíthiúil agus Rialála Tá an túni tar éis a fheidhmeanna maidir le hoibriúchán sheirbhísí Luas a shannadh don GFI faoi réir fhorálacha an Achta um Údarás Iompair Bhaile Átha Cliath Tá soláthar san Acht Iompair (Bonneagar Iarnróid) 2001 (agus é leasaithe) do dheonú ordú iarnróid don pháirtí atá ag iarraidh infreastruchtúr nó seirbhísí iarnróid sráide nó meitreo a sholáthar. Éilíonn an próiseas reachtúil go réiteodh an GFI iarratas mionsonraithe ar ordú iarnróid ar a n áirítear dearadh tagartha, Ráiteas Tionchair Timpeallachta agus Leabhar Tagartha chun sainleas sealúchais a aithint. Cuirtear an t iarratas ansin chuig an Bord Pleanála. Bunaíodh Coimisiún um Shábháilteacht Iarnróid, a dhéanann soláthar do fhaomhadh thionscadail nua infreastruchtúir iarnróid, mar thoradh ar an Acht um Shábháilteacht Iarnróid I dtaca le tionscadail nua tógála iarnróid comhlíonann an GFI agus éilíonn sí go gcomhlíonfadh ár gconraitheoirí an tacht um Shábháilteacht, Sláinte agus Leas ag an Obair, 2005, agus rialúcháin ghaolmhara a eisíonn an túdarás Sláinte agus Sábháilteachta Cuspóirí Gnó agus Airgeadais Léiríonn an t ardú 4.5% ar líon na bpaisinéirí thar go bhfuil ag éirí leis an GFI a Phlean Gnó Corparáideach 5 bliana a sheachadah. Aithníonn an plean reatha ó 2014 go 2018 trí eochair-chuspóir chun ár bhfís a réadú: Infreastruchtúr Nua a Sholáthar Infreastruchtúr iompair nua poiblí, a bheadh sábháilte agus inbhuanaithe, a sholáthar faoi réir riachtanais straitéisí iompair agus srianta maoinithe an Rialtais. Gnó Infreastruchtúir Luas Seirbhís mhealltach ard-chaighdeáin Luas a chur chun cinn is a fheabhsú chun go bhfásfadh líon na bpaisinéirí ar bhealach inbhuanaithe is go bhfillfí ar bharrachas i Athrú Eagraíochta Leanúint de bheith ag soláthar eagraíochta leis na scileanna, an struchtúr is an inniúlacht chuí chun ár sainordú a chur i gcrích. Bhí mar thoradh ar shrianta airgeadais an Státchiste agus ar thosaíochtaí nua infheistíochta gur laghdaíodh go suntasach i líon na dtionscadal nua iompair a bhí molta. Tá an GFI tar éis a straitéis a chur in oiriúint chun freastal ar na tosaíochtaí nua infheistíochta agus chun an cumasc leis an ÚBN a chríochnú go sásúil an fhaid is atá sí ag soláthar infreastruchtúr iompair inbhuanaithe agus seirbhísí paisinéara d adchaighdeán a fháil trí oibreoirí tráchtála. SÁBHÁILTEACHT AGUS TIMPEALLACHT Tógáil Le linn, thosaigh an GFI ar na hoibreacha cumasúcháin do Thionscadal Luas Traschathrach.. Áiríodh ar na hoibreacha seo fiosrú, taifeadadh agus cóiriú siléar taobh le hailíniú LTC ó Shráid Dásain go Sráid Dhoiminic agus suirbhé ar na séaraigh taobh le hailíniú LTC. I measc oibreacha feabhsaithe eile na GFI bhí glanadh amach Fhostáisiún Dhún Droma agus balla cosc le tuilte, agus raon oibreacha feabhsaithe chun inrochtaineacht agus sábháilteacht feadh líonra Luas a fheabhsú. De réir a n oibleagáidí reachtúla faoin Acht um Shábháilteacht, Sláinte agus Leas ag an Obair, 2005, agus na Rialúcháin um Shábháilteacht, Sláinte agus Leas ag an Obair (Tógáil), agus gach reachtaíocht, Cóid Chleachtais agus Treorach ábhartha rinne an GFI monatóireacht ar gach conraitheoir féachaint go raibh a chuid dualgas á gcomhlíonadh nó á dtabhairt san áireamh go héifeachtach aige. Ní raibh taifead ar aon timpiste ar cailleadh am i ngeall uirthi a bhain le Tionscadail Tógála na GFI i. Éacht ba ea é seo dóibhsean uile a bhí bainteach le dearadh agus le tógáil na dtionscadal éagsúla. Seirbhísí Paisinéara Bhí uasmhéid nua de 30.5m turas paisinéara ann i i gcomparáid le 29.3m turas paisinéara i. Tá sábháilteacht phaisinéirí Luas fíórthábhachtach do Bhord na GFI a dhéanann monatóireacht leanúnach ar fheidhmíocht sa réimse seo. Leanfaidh an GFI de bheith ag obair lena oibreoir agus lena fochonraitheoirí cothabhála chun deimhin a dhéanamh de go leanfar leis an ard-leibhéal fheidhmíocht sábháilteachta ar an Líne Dhearg is ar an Líne Ghlas. Léiríonn comparáidí idirnáisiúnta le córais iarnróid sráide eile go bhfuil Luas ag déanamh go maith i gcomparáid le córais I dtíortha Eorpacha eile. I bhí méadú ann ar líon na dtaismí bóthair thar mar a bhí i. Le linn shaothraigh an GFI, an t oibreoir, an Garda Síochána agus na húdaráis Áitiúla le céimeanna éifeachtacha a thabhairt isteach chun cur i gcoinne an athraithe seo. D aithin agus d fheidhmigh an GFI agus Transdev athruithe ar ghnáthaimh oibríochta agus ar infreastruchtúr Luas atá ceaptha chun aghaidh a thabhairt ar na heachtraí seo agus chun eachtaí, a bhaineann le sábháilteacht, a laghdú Timpeallacht Léiríonn na gníomhaíochtaí timpeallachta ar tugadh fúthu i géilliúntas na GFI dá Pholasaí Timpeallachta do. Trí bheith ag obair i gcomhar le páirtithe inmheánacha agus seachtracha léirigh an GFI dea chleachtas i mbainistiú an baol ar aon éifeacht dhiúltach a bheith ag baint le pleanáil, le tógáil nó le hoibríochtaí na GFI. Ar na gníomhaíochtaí bhí tacaíocht do na stiúrthóireachtaí uile maidir le ceisteanna timpeallachta agus seandálaíochta ar a n áirítear an dá scéim Chóras Bus Gasta, bainistiú tógála maidir leis an timpeallacht agus leis an tseandálaíocht a bhaineann leis an LTC (fothram, creathadh agus caighdeán an aeir a fhaireadh is a rialú, cigireacht ar láithreáin, iniúchadh, faomhadh ar ráitis faoi mhodhanna oibre, ullmhú Réamhfhógraí ar Oibreacha de chuid an Aonaid Sláinte Chomhshaoil (ASC), bainistiú gheallsealbhóirí, bainistiú chonarthaí (suirbhéanna éiceolaíochta san áireamh), straitéis seandálaíochta a réiteach, Faomhadh Aire a fháil, iarratais ar cheadúnais seandálaíochta,

35 12 ATHBHREITHNIÚ OIBRIÚCHÁIN AGUS AIRGEADAIS AR LEANÚINT 13 RÁITIS AIRGEADAIS NA GFI Suirbhéanna Tarraingthe, Tomhaiste agus Fótagrafacha a athbhreithniú agus a fhaomhadh agus Tuarascálacha Oidhreacht Ailtireachta). Ar na gníomhaíochtaí eile bhí tacaíocht timpeallachta agus seandálaíochta d fhoireann na mion tionscadal maille le hionchur suntasach san iarratas pleanála do Ghleann Bhríde Cuid 8 agus monatóireacht, gan duine ina bun, ar fhothram leanúnach ag Fostáisiún Dhún Droma. Leanadh de bheith ag bainistiú gnéithe timpeallachta den chonradh oibríocha le linn na bliana le cruinnithe míosúla ar na láithreáin, cigireacht ráithiúil ar na hiostaí agus athbhreithniú ar thuairisciú timpeallachta ar a áiríodh plean bhainistiú chomhshaoil agus tuairisciú ar fhothram is ar chreathadh Transdev. Thairis sin, rinneadh saintomhas ar thramanna agus tugadh tuairiscí orthu ag 11 ionad ar Líne Dhearg Luas, ag 6 ionad ar Líne Luas Cheantar na ndugaí, ag 8 n ionad ar Líne Ghlas Luas, ag 10 n ionad ar Líne Luas Choill na Silíní agus ag 14 ionad ar Líne Luas Iarthar na Cathrach. Leanadh de thionscnaimh chorparáideacha chomhshaoil le linn trí thuarascáil a ullmhú ar ainilís a rinneadh ar bhearnaí i gcóras bhainistíocht timpeallachta reatha na GFI, trí oiliúint ar an timpeallacht a sholáthar (fothram, seandálaíocht etc.), an ceathrú Sheachtain Ghlas de chuid na GFI mí na Samhna, aidhmeanna maidir le fuíoll agus fuinneamh a bhaint amach i gcomhréir le Plean Inbhuanaitheachta Iarnróid Sráide Bhaile Átha Cliath agus an rath leanúnach ar thionscnamh Fhoireann Ghlas na GFI agus ar thionscnaimh ghaolmhara. INBHUANAITHEACHT Achoimre ar na rudaí a rinneamar is a bhaineamar amach faoin bplean inbhuanaitheachta: Infeastruchtúr Tugann taighde idirnáisiúnta le fios gur fearr a toradh a bhíonn ar laghdú sa charbóin chorpraithe san obair tógála ná bheith ag bainistiú laghdaithe sa charbóin oibríochtúíl ar chóras iarnróid sráide oibríochtúil. Léiríonn taighde gur díreach i ndiaidh tógála a scaoiltear an sciar is airde d astúcháin. Mar thoradh air sin rinneadh meastacháin ar chásanna éagsúla nuair a bhí na dearaí do Luas Traschathrach á réiteach. Dheimhnigh na meastacháin go bhféadfaí laghdaithe de 25-30% a bhaint amach ar charbóin chorpraithe. Éileoidh an GFI ar chonraitheoirí a bheidh ag déanamh tairiscintí do chonarthaí Luas Traschathrach go gcuimseoidís spriocanna laghdaithe ina gcuid tairiscintí. Gnóthaí Corparáideacha Ó 2010 i leith, bhain an GFI amach laghdú 40% ar an méid gáis a bhí in úsáid aici agus laghdú 35% ar an méid leictreachais. Tá rún daingean ag an GFI tuilleadh laghdaithe fós a bhaint amach trí dhlúthú a dhéanamh ar riachtanais cóiríochta agus trí fhreagracht phearsanta a spreagadh. Bhí úsáid breosla seasmhach thar agus. Is é is dóichí ná go méadóidh sí i mbliana toisc oiread sin láithreán oibre bheith oscailte do thógáil LTC. Ar na céimeanna a fhéadfaí a ghlacadh amach anseo chun úsáid fuinnimh a fheabhsú tá tabhairt isteach malartóirí teasa inár ngléasra aerchóirithe agus díriú ar úsáid a laghdú ag na friothálaithe ríomhaireachta agus ag na haonaid aerchóirithe gaolmhara atá freagrach as 40% den úsáid iomlán leictreachais. Is é an ceacht is suntasaí a foghlaimíodh ó thosaíomar ar ár gclár inbhuanaitheachta i 2011 ná gur laghdú úsáid trí rialúchán a mhéadú agus trí iompar is chaighdeáin inghlactha a athrú an cosán is cost éifeachtaí i dtreo ghníomhaíocht chorparáideach inbhuanaithe. FORBAIRT LUAS AGUS AN MHETRO Luas Traschathrach Thosaigh céim an fheidhmiúcháin ar LTC i. Lorgaíodh tairiscintí ar na príomh-chonarthaí uile don obair chumasúcháin i.e. lorgaíodh agus fuarthas tairiscintí le linn na bliana ar chonarthaí d obair ar Scrúdú agus Cóiriú Siléar agus ar Obair Sheandálaíochta agus ar Obair Fóntais. Deonaíodh conarthaí ar Scrúdú agus Cóiriú Siléar do KN Network Services Ltd. mí Bealtaine agus tosaíodh ag obair ar an suíomh mí an Mheithimh. Bhí an dá chonradh curtha i bhfeidhm nach mór faoi dheireadh na bliana. Aimsíódh agus líonadh isteach os cionn 300 siléar i gceantracha i lar na cathrach faoi na conarthaí seo. Deonaíodh an conradh ar Obair Oidhreachta i agus leanfaidh sé go dtí deireadh an tionscadail i GMC Utilities Group Ltd. (GMC) a fuair an conradh ar Obair Fhóntais déanach i mí Dheireadh Fómhair. Fuarthas na hoibreacha seo agus leagan NEC3 Sprioc-Chostas den chonradh in úsáid. Agus na conarthaí bronnta tionóladh sraith cruinnithe le Fóram Tráchta LTC chun socruithe bhainistiú tráchta don chuid tosaigh de na hoibreacha a phlé is a aontú. Thángthas ar aontacht leis na geallshealbhóirí ábhartha mí na Nollag rud a chuir ar chumas GMC tosú ar oibreacha ag sé láthair dhifriúil mí Eanáir 2014 i.e. Faiche Stiabhna Thuaidh, Sráid Grafton, Sráid Westmoreland, Sráid Hawkins, Plás Mhaoilbhríde agus acomhal Shráid Mhaoilbhríde/Shráid Pharnell. Meastar go leanfar leis an hoibreacha seo le linn Mion-Tionscadail Bhíothas ag obair ar chúig mhion-tionscadal déag le linn, 10 gcinn atá curtha i gcrích agus 5 cinn ar leanadh leo i Baineann mion-tionscadail le feabhsú gnéithe de chúrsaí sábháilteachta agus seirbhísí na gcustaiméirí ar sheirbhísí is infreastruchtúir Luas. Baineann tionscadal amháin le tógáil chosáin a fheabhsóidh inrochtaineacht idir Ospidéal Thamhlachta agus an stad Luas. Is ceann de straitéisí na GFI í an pobal a spreagadh chun úsáid a bhaint as Luas chun teacht ar áiseanna is as saoráidí poiblí tábhachtacha. Tionscadal feabhsú inrochtaineachta eile ba ea dearadh agus Tuarascáil Pleanála Cuid 8 do chosán agus do bhealach rothaíochta, thart faoi 1 km ar fhaid idir Stad Ghleann Bhríde agus Ospidéal Bhaile Uí Lachnáin. Leanann an bealach an bun-ailíniú de líne mholta B2 ó Stad Luas Ghleann Bhríde, ar an Líne Ghlas, go dtí an t ospidéal. Táthar ag súil go dtosóidh an tógáil i 2014 faoi réir cead pleanála a fháil. Tionscadal suntasach sábháilteachta ba ea tionscadal córas digiteach Teilifís Chiorcaid Iata ar bord a fháil. Soláthróidh an córas seo

36 14 ATHBHREITHNIÚ OIBRIÚCHÁIN AGUS AIRGEADAIS AR LEANÚINT 15 RÁITIS AIRGEADAIS NA GFI íomhá d ardchaighdeán dóibhsean a bheidh ag déanamh monatóireachta ar an gcóras agus iad ag zúmáil isteach gan é a bheith oscailte do chur isteach. Beidh íoslódáil sonraí níos tapúla go mór ná ar an gcóras reatha. Is fearr a bheidh an t-am chun iarratais a fhreagairt agus dá réir cuirfear eolas ar fáil níos gasta don Gharda Síochána. Cuirfear an córas isteach le linn Córas Bus Gasta I, lean an GFI de bheith ag obair go dlúth leis an Údarás Náisiúnta Iompair (ÚNI) chun pleanáil an ÚNI don Swiftway (Córas Bus Gasta) i mbaile Átha Cliath a chur chun cinn. Lean an GFI den phróiseas chun bealaí a roghnú agus don réamh-dhearadh do dhá bhealach traschathrach, eadhon Baile Bhlainséir go COBhÁC agus ó Chluain Ghrifín go Tamhlacht a bheidh mar chuid de bhun líonra Swiftway. Críochnófar an próiseas roghnaithe bealaigh do bhealach Bhaile Bhlainseir go COBhÁC i 2014 i ndiaidh dul i gcomhar le geallsealbhóirí agus leis an bpobal. Mí Dheireadh Fómhair thosaigh an GFI ag obair ar an gcáipéisíocht riachtanach a sholáthar d iarratas pleanála a chuirfear faoi bhráid An Bord Pleanála i Bainistíocht Rioscaí Tá córas bhainistíocht riosca uileghabhálach i bhfeidhm rioscaí a fhéadfadh an Ghníomhaireacht a chur i mbaol cailliúna - a mheasúnú, a thuar agus a bhainistiú. Tacaíonn an córas leis an GFI bainistíocht éifeachtach a dhéanamh ar rioscaí i ngach gníomhaíocht ghnó. Áirítear sa chóras rioscaí suntasacha a aithint, a bhainistiú agus, nuair is féidir, a mhaolú Fuarán an Bhantiarna Grattan á bhaint mí an Mhárta 2014 ATHBHREITHNIÚ AIRGEADAIS STRUCHTÚR CAIPITIÚIL AGUS POLASAÍ I LEITH NA CISTÍOCHTA Athbhreithníodh polasaithe agus gníomhaíochtaí cistíochta na GFI go leanúnach ag an mbord agus ag an mbainistíocht le linn. Tugadh aird chúramach ar an leibhéal riosca contrapháirtí, a rabhthas ag glacadh leis, agus airgead á chur i dtaisce le hinstitiúidí airgeadais. Choinnigh an GFI a polasaí coimeádach maidir le riosca contrapháirtí agus airgead á chur i dtaisce aici. Bíonn éifeacht dhíreach ag an bpolásaí seo ar leibhéal an úis a thuilltear ó chistí na GFI agus, dá bharr, tá an sruth seo airgid á laghdú le blianta beaga anuas. Leasaíodh polasaí na GFI maidir le hurraí inghlactha chun críche bannaí fheidhmiú chonarthaí nó íocaíochtaí faoi bharántas nó barántais íocaíochta chun teacht leis an staid réadúil a ghabhann le hathruithe suntasacha ar an margadh sin in Éirinn. Tá polasaithe foriomlána cistíochta na GFI curtha le chéile ar bhealach an-choimeádach agus athbhreithnítear iad go rialta is leasaítear iad mar a shamhlaítear a bheith riachtanach. Chuir feidhmiú chórais stóinsithe rialaithe inmheánaigh agus glacadh le polasaithe coimeádacha cistíochta leis an GFI chun a cuid eochair-chuspóirí a bhaint amach i. Leanann an GFI de bheith ag maoiniú caiteachais caipitil agus reatha trí dheontais agus iasachtaí ón Státchiste, trí ioncam ó thobhaigh forbartha, trí chomhaontaithe déthaobhacha, agus le déanaí le hioncam ó ghníomhaíochtaí sealscarúna agus comhairleoireachta. Le linn, d oibrigh an GFI go dlúth leis an ÚNI agus le húdaráis áitiúla chun scéimeanna tobhaigh reatha a choimeád agus chun scéimeanna nua a fhorbairt. Ceaptar na scéimeanna tobhaigh chun leas a bhaint as cuid den gnóthachan fadtéarmach ó fhorbairt talaimh/sealúchais a eascraíonn as soláthar an infreastruchtúir. Rinneadh obair i chun malairt foinsí maoinithe do Luas Traschathrach a aithint. Leanann deontais agus iasachtaí, a chuireann an Státchiste ar fáil, tríd an Roinn Iompair, Turasóireachta agus Spóirt agus tríd an Údarás Náisiúnta Iompair de bheith mar phríomh-fhoinse maoinithe ag an GFI. Chabhraigh an dlúth-chomhoibriú idir an GFI, an ÚNI agus an Roinn Iompair, Turasóireachta agus Spóirt leis an GFI chun a cuid aidhmeanna cistíochta a bhaint amach i. Mí na Nollag tháinig an GFI agus an ÚNI ar chomhaontú faoi úsáid an airgid atá i dtaisce ag an GFI. Cinntíonn an comhaontú, agus é faofa ag Bord na GFI mí Eanáir 2014, go gcuirfear maoiniú dóthanach ar fáil, anuas ar iasachtaí ón Státchiste, chun dliteanais a eascróidh as tionscadal Luas Traschathrach a mhaoiniú de réir mar a éiríonn siad le linn an tionscadail.. Ar 31 Nollaig bhí taiscí airgid gearrthéarmacha ag an GFI dar luach 47.3m (: 45.9m). Cuimsíonn an t airgead i dtaisce barrachas carnaithe ó ghnó an infreastruchtúir, tobhaigh fhorbartha, soláthar cothabhála agus maoiniú ón Státchiste. Ní raibh aon iasachtaí ag an GFI ar 31 Nollaig. Tuilleadh 0.7m (: 2.1m) úis le linn ar chomharduithe gearrthéarmacha airgid. Bhí táillí úis de 0.09m (: 0.2m) ann le linn na bliana. Ní chuirtear barrachais airgid i dtaisce ach amháin le hinstitiúidí baincéireachta a bhfuil seasamh creidmheasa feiliúnach acu.ach amháin le hinstitiúidí baincéireachta a bhfuil seasamh creidmheasa feiliúnach acu.

37 16 RÁITIS AIRGEADAIS NA GFI 17 RÁITIS AIRGEADAIS NA GFI Eolas faoin ngníomhaireacht Comhaltaí an Bhoird Comhaltaí: Jacqueline Cross Ciarán MacSamhráin Sandra Murphy (Ceapadh 7 Meitheamh ) David O Connor Pearse O Hanrahan (Barántas críochnaithe ar 23 Samhain ) Cormac O Rourke, Chairman Declan Walsh Cormac O Rourke Cathaoirleach Jacqueline Cross Comhalta Ciarán MacSamhráin Comhalta Sandra Murphy Comhalta Príomhfheidhmeannach Gníomhach Rory O Connor Rúnaí: Aturnaetha: Arthur Cox Lárionad Phort an Iarla Ardán Phort an Iarla Baile Átha Cliath 2 Baincéirí Banc na héireann Príomhoifig Sráid Bhagóid Íochtarach Baile Átha Cliath 2 Fergal Ruane Iniúchóirí: Deloitte & Touche Cuntasóirí Cairte agus Comhlacht Reachtúil Iniúchóireachta Ardán Phort an Iarla, Baile Átha Cliath 2 Banc Uladh Príomhoifig Duga Sheoirse Baile Átha Cliath 2 David O Connor Comhalta Declan Walsh Comhalta

38 18 RÁITIS AIRGEADAIS NA GFI 19 RÁITIS AIRGEADAIS NA GFI Tuarascáil na gcomhaltaí Ráitis Airgeadais don Bhliain dar críoch 31 Nollaig Cuireann Comhaltaí na Gníomhaireachta um Fháil Iarnróid a dtuarascáil i láthair maille leis na ráitis airgeadais don bhliain dar críoch 31 Nollaig. Feidhmeanna na Gníomhaireachta Comhlacht neamhspleách reachtúil í an GFI a bunaíodh faoi Acht Iompair (Bonneagar Iarnróid) Is iad príomh-fheidhmeanna reachtúla na GFI ná infreastruchtúr iarnróid sráide agus mheitreo a sholáthar agus seirbhísí iarnróid sráide agus mheitreo a sholáthar. Ó thús an Achta um Údarás Iompair Bhaile Átha Cliath i 2008, chuir an GFI na feidhmeanna sin i bhfeidhm le sannachán ón ÚNI. Mí Mheán Fómhair 2011, cuireadh le cumhachtaí na GFI chun comhaontaithe a dhéanamh leis an ÚNI le Córas Bus Gasta (CBG) amháin nó níos mó a fhorbairt don ÚNI, mar atá aitheanta mar chuspóir i bplean Comhtháite Feidhmiúcháin an ÚNI Torthaí don Bhliain Tá an Cuntas Ioncaim agus Caiteachais don bhliain dar críoch 31 Nollaig agus an Clár Comhardaithe ar an dáta sin leagtha amach ar leathanaigh 24 agus 26. Bé 1.6m (: 1.6m) an t easnamh roimh cháin ar ghnáth-ghníomhaíochtaí na bliana. D fheabhsaigh feidhmiúchán ghníomhaíochtaí Infreastruchtúr Luas go suntasach le linn agus táthar ag tuar go bhfeabhsóidh sé a thuilleadh agus go mbeidh barrachas ann faoi I, bé an éifeacht a bhí ag gníomhaíochtaí an ghnó i ndiaidh úis agus cánach ná gur aistríodh caillteanas de 1.7 m. go dtí an cúlchiste (: Caillteanas 2.3m). Ghin infreastruchtúr na Líne Deirge agus na Líne Glaise a ligean ar cíos le Transdev chun seirbhísí paisinéara a sholáthar caillteanas de 3.8m (: Caillteanas 5.0m). Tá réamhaisnéisí reatha ag glacadh leis go leanfaidh feabhsuithe san éileamh, go mbeidh arduithe táillí ann a chlúdóidh arduithe bhoilsciú costais, smacht éifeachtach ar chostais agus gan aon chéim siar a beith ar na téarmaí tráchtála sa chonradh oibriúcháin. Tá na boinn tuisceana seo criticiúil chun go bhfillfeadh an gnó chun barrachais mar atáthar ag tuar. Ghin gnó páirceála agus taistil agus an gnó fógraíochta ioncam glan de 2.2m (: 2.2m). Thit an t ús a thuill cúlchiste an ghnó ó 0.9m. go dtí 0.3m. de réir mar a thit rátaí úis gach uair a rinneadh rolláil thart ar airgead i dtaisce. Imeachtaí iar-chlár Comhardaithe Ní raibh aon imeachtaí suntasacha ann ó dheireadh na bliana a bheadh ina gcúis leis na ráitis airgeadais a choigeartú nó nóta a chur leo. Statement of Members Responsibilities in respect of the Financial Statements Leagann an tacht Iompair (Bonneagar Iarnróid) 2001 freagrachtaí ar na Comhaltaí ráitis airgeadais a ullmhú do gach bliain airgeadais a thugann tuairisc fíor agus cothrom ar staid chúrsaí na Gníomhaireachta agus ar bharrachas nó ar easnamh na Gníomhaireachta don bhliain áirithe sin. Agus na ráitis airgeadais sin á n ullmhú acu, ní mór do na Comhaltaí: Polasaithe cuntasaíochta oiriúnacha a roghnú agus ansin iad a chur i gcrích go rialta; Breithiúnais agus meastacháin atá réasúnta agus stuama a dhéanamh; agus Ráitis airgeadais a ullmhú ar bhonn gnóthais leantaigh ach amháin nuair atá sé míchuí a cheapadh go leanfaidh an Ghníomhaireacht ar aghaidh mar ghnó. Dearbhaíonn na comhaltaí go bhfuil na riachtanais thuasluaite comhlíonta acu agus na ráitis airgeadais á n ullmhú acu. Tá na Comhaltaí freagrach freisin as sócmhainní na Gníomhaireachta a chosaint agus as pé céimeanna réasúnta atá riachtanach a ghlacadh chun aon chalaois nó aon mhírialtacht eile a stopadh agus a thabhairt faoi deara. Tá dualgas chomh maith ar na comhaltaí ráiteas a chuimsiú sa Tuarascáil Bhliantúil faoin gcóras inmheánach rialachais faoi réir na gceanglas sa Chód Cleachtais um Rialachas Chomhlachtaí Stáit (2009). Leabhair Chuntais Tá an Príomhfheidhmeannach Gníomhach, agus é faoi stiúir na gcomhaltaí, freagrach as a chinntiú go gcoimeádann an Ghníomhaireacht leabhair agus taifid chuntasaíochta cearta faoi réir Alt 19 den Acht Iompair (Bonneagar Iarnróid) Chuige sin, tá an Príomhfheidhmeannach Gníomhach tar éis foireann ghairmiúil chuí chuntasaíochta a cheapadh maille le córas éifeachtach tuairisciú airgeadais agus faisnéis bainistíochta. Coimeádtar na leabhair agus na taifid chuntasaíochta ag Sráid Gheata na Páirce, Baile Átha Cliath 8. Comhaltaí agus Rúnaí Tá na Comhaltaí reatha agus an Rúnaí liostáilte ar leathanach 16 agus d fhóin siad uile le linn na bliana mura bhfuil a mhalairt ráite. Mar seo a leanas a bhí na táillí a íocadh le Comhaltaí le linn na bliana agus líon na gcruinnithe a d fhreastail siad: Comhalta Táillí Freastal ar chruinnithe boird [As 11] Jacqueline Cross 13 9 Ciarán Mac Samhráin Sandra Murphy* 7 7 David O Connor 0 10 Pearse O Hanrahan* 11 6 Cormac O Rourke 0 11 Declan Walsh 0 11 *Ceapadh Sandra Murphy ar 7 Meitheamh. Tháinig barántas Pearse O Hanrahan s chun deiridh ar 23 Samhain. Faoi réir Threoirlínte na Roinne Caiteachais Phoiblí agus Athchóirithe ar an bprionsabal duine amháin, tuarastal amháin do fhostaithe na hearnála poiblí, níor íocadh aon táille le David O Connor nó le Declan Walsh. Tharscaoil Cormac O Rourke a chuid táillí. Íocadh costais dar luach 2,913 le Comhaltaí le linn na bliana ar a n áirítear taisteal, lóistín agus béilí. An Coiste Iniúchóireachta Bhí Coiste Iniúchóireachta na Gníómhaireachta i comhdhéanta de Pearse O Hanrahan (Cathaoirleach), Jacqueline Cross, Sandra Murphy agus Declan Walsh. Ceapadh Sandra Murphy mar chomhalta den Choiste Iniúchóireachta ar 23 Meitheamh agus mar Chathaoirleach an Choiste ar 20 Samhain. Tháinig barántas Pearse O Hanrahan chun críche ar 23 Samhain. Tuairiscíonn an Coiste Iniúchóireachta don Bhord ar gach gné den tuairisciú airgeadais agus den pholasaí cuntasaíochta agus athbhreithníonn sé éifeacht chóras rialaithe airgeadais inmheánach na Gníomhaireachta. Casann iniúchóirí seachtracha na Gníomhaireachta ar an gcoiste Iniúchóireachta chun torthaí an iniúchta bhliantúil ar ráitis airgeadais na GFI a athbhreithniú. Bhain comhaltaí an Choiste leas as an gcruinniú seo chun bualadh go príobháideach leis na hiniúchóirí seachtracha. An Coiste Luach Saothair B iad comhaltaí Choiste Luach Saothair na Gníomhaireachta i Jacqueline Cross (Cathaoirleach), Pearse O Hanrahan agus Declan Walsh. Tháinig barántas Pearse O Hanrahan chun críche ar 23 Samhain. Ceapadh David O Connor ar an gcoiste ar 26 Samhain Tá an Coiste Luach Saothair freagrach as moltaí faoi pholasaí a dhéanamh don Bhord ar cheisteanna luach saothair an Phríomhfheidhmeannaigh agus ar cheisteanna ginearálta a bhaineann le luach saothair sa Ghníomhaireacht. Níor deonaíodh aon bhónas nó ardú tuarastail ó Cuireadh laghdú tuarastail i bhfeidhm mí Iúil nuair a achtaíodh an tacht um Bearta Airgeadais Éigeandála ar Mhaithe le Leas an Phobail,. Freagracht as an gcóras Rialaithe Airgeadais Inmheánach Aithníonn na Comhaltaí an fhreagracht atá orthu a chinntiú go gcoinnítear córas éifeachtach rialaithe airgeadais inmheánach agus go cuirtear i bhfeidhm é sa Ghníomhaireacht. Tig le córas mar seo barántas réasúnta, ach ní barántas iomlán, a thabhairt go bhfuil sócmhainní na Gníomhaireachta á gcosaint, go mbíonn idirbhearta údaraithe agus taifead ceart coimeádta orthu agus go gcoisctear earráidí nó mírialtachtaí ábhartha nó go n-aimsítear iad go gasta. Rialachas Corparáideach agus Rialaithe Tá na Comhaltaí tar éis céimeanna a ghlacadh le cinntiú go mbeidh timpeallacht chuí rialaithe sa Ghníomhaireacht trí: Ghlacadh le struchtúir agus le gnáthaimh shoiléire shár-chleachtais trína gcuirtear gnó na gcomhaltaí i bhfeidhm; Fhreagrachtaí na bainistíochta a shainiú go soiléir agus deimhin a dhéanamh de go mbíonn fáil ar acmhainní agus ar oiliúint chuí; agus

39 20 TUARASCÁIL NA GCOMHALTAÍ AR LEANÚINT 21 RÁITIS AIRGEADAIS NA GFI Ghnáthaimh fhoirmiúla a cheapadh chun teipeanna substaintiúla rialaithe a aimsiú agus chun céimeanna cuí ceartúcháin a ghlacadh taobh istigh de fhráma ama réasúnta. The Members have established processes to Tá próisis bunaithe ag na Comhaltaí chun rioscaí gnó a aithint agus a mheas trí chóras bhainistíocht rioscaí a bhunú. Feidhmíonn an próiseas ar leibhéil tionscadail, feidhmiúcháin agus fiontraíochta. Seo a leanas príomh-eilimintí an chórais: Nádúr, scóip agus impleachtaí airgeadais rioscaí a gcaithfeadh an Ghníomhaireacht aghaidh a thabhairt orthu a aithint; Airgeadais Inmheánach Déanann na Comhaltaí agus an Coiste Iniúchóireachta monatóireacht ar éifeachtúlacht an chórais rialaithe airgeadais inmheánaigh le linn na bliana ar fad. Déantar é seo trí na rudaí seo a leanas a ullmhú agus a athbhreithniú: Tuairiscí rialta ar na cuntais bhainistíochta agus ar thionscadail; Tuairiscí iniúchóireachta ón bhfeidhmeannas inmheánach iniúchóireachta; agus Tuairiscí ó na hiniúchóirí seachtracha. Measúnú a dhéanamh ar an dealraitheacht go dtarlódh na rioscaí atá aitheanta; Modhanna oiriúnacha chun rioscaí a bhainistiú agus a laghdú a aithint; Leithdháileadh a dhéanamh ar an bhfreagracht as rioscaí aitheanta a bhainistiú agus a laghdú; Monatóireacht ar an dul chun cinn agus ar chomhlíonadh gníomhartha laghdaithe; Éifeachtacht oibriú chóras bhainistíocht rioscaí a athbhreithniú; agus Tuairisciú rialta do na Comhaltaí ar nithe ábhartha a éiríonn. An Córas Rialaithe Airgeadais Inmheánaigh Tá córas rialaithe airgeadais inmheánach na GFI bunaithe ar eolas bainistíochta d ardchaighdeán agus athbhreithniú rialta ag an mbord agus ag an mbainistíocht taobh istigh de struchtúr a dhéanann soláthar d idirdhealú dualgas agus do chóras soiléir tarmligean údaráis agus freagrachta. Áirítear inti go speisialta: Córas cuimsitheach buiséadaithe le buiséad bliantúil a athbhreithníonn agus a fhaomhann an Bord go míosúil; Athbhreithnithe míosúla ag an mbord ar chuntais na bainistíochta a dhéanann comparáid idir, agus a mhíníonn, feidhmíocht airgeadais i gcomparáid leis an réamhaisnéis agus an mbuiséad; Treoirlínte soiléire rialaithe soláthair, cistíochta agus infheistíocht caipitil; agus Gnáthaimh fhoirmiúla bhainistiú tionscadal. Monatóireacht ar an gcóras Rialaithe Athbhreithníonn na Comhaltaí gníomhaíochtaí na Gníomhaireachta ar bhonn rialta i gcomhar leis an bpríomhfheidhmeannach Gníomhach agus le daoine eile ón mbainistíocht shinsearach. Tá feidhmeannas inmheánach iniúchóireachta ag an GFI a fheidhmíonn faoi réir na frámaíochta atá leagtha amach sa Chód Cleachtais um Rialachas Chomhlachtaí Stáit (2009). Leagann an feidhmeannas inmheánach iniúchóireachta plean oibre amach do gach bliain. Tógtar san áireamh sa phlean seo anailís de na rioscaí atá ann don Ghníomhaireacht agus déanann an Coiste Iniúchóireachta é a fhaomhadh. Réitíonn an feidhmeannas inmheánach iniúchóireachta tuarascáil bhliantúil don Choiste Iniúchóireachta ina gclúdaítear gníomhaíocht inmheánach iniúchóireachta don bhliain atá díreach thart maille le tuairim an Iniúchóra Inmheánaigh ar leorgacht agus ar éifeachtúlacht an chórais inmheánaigh rialaithe airgeadais sa Ghníomhaireacht. Tuarascáil bhreise í seo anuas ar na tuairiscí rialta a sholáthraíonn an feidhmeannas inmheánach iniúchóireachta don Choiste Iniúchóireachta le linn na bliana. Athbhreithniú Bliantúil ar Rialaithe Is féidir linn a dheimhniú gur athbhreithníodh éifeachtacht an chóras rialaithe inmheánaigh airgeadais ónár dtuarascáil dheiridh i leith agus measadh é a bheith sásúil. Árachas Tá polasaithe árachais ag an ngníomhaireacht a chlúdaíonn cailliúint nó damáiste do shealúchas, ar tríú páirtí é a úinéir, agus as aon dliteanas a fhéadfadh a bheith ann i leith fostaithe nó tríú páirtí. Géilliúntas Dlíthiúil agus Rialaitheach Comhlíonann an Ghníomhaireacht an Cód Cleachtais um Rialachas Chomhlachtaí Stáit maille le cóid eile cleachtais agus treoirlínte foilsithe ag an Rialtas do chomhlachtaí stáit. Tá próisis curtha i bhfeidhm ag an GFI chun a chinntiú go bhfuil a cuid dualgas dlíthiúla agus rialaitheacha uile á gcomhlíonadh ag an ngníomhaireacht. Siúd is nach cuideachta í faoi réir Achtanna na gcuideachtaí ach comhlacht reachtúil corparáideach, tá gach dícheall déanta ag an GFI chun bheith in oiriúint le riachtanais Achtanna na gcuideachtaí 1963 go nuair is cuí sin. Tá an GFI faoi réir na nachtanna um Eitic in Oifig Phoiblí 1995 agus 2001 agus tá céimeanna i bhfeidhm aici lena chinntiú go gcomhlíonann na fostaithe uile, a thagann faoi réir na nachtanna, a gcuid dualgas. Bhí gnáthaimh ag an GFI i chun an tacht um Shábháilteacht, Sláinte agus Leas ag an Obair, 2005, agus rialacháin a rinneadh faoi réir an Achta, a chomhlíonadh. Tá foirne ar leith ag an GFI chun plé le bainistiú na timpeallachta agus le bainistiú gnóthaí a bhaineann le sláinte is le sábháilteacht chun deimhin a dhéanamh de go bhfuiltear ag comhlíonadh an dlí agus an tsárchleachtais sna réimsí seo. Leanann an GFI de bheith ag comhlíonadh Plean Earnála na Roinne Iompair d Iompar Inrochtana a foilsíodh mar thoradh ar an Acht um Míchumas D eisigh an GFI an aip Luas VI d úsáideoirí Lagamhairc ar Apple ios i mí na Samhna agus tá sé tar éis ráta an-mhaith íoslódála a ghiniúint. Thóg an GFI fosta cosán do choisithe ó Stad Luas Thamhlachta go dtí Ospidéal Thamhlachta a bhfuil an obair réidh air agus atá le hoscailt an túisce is a chríochnaíonn an tospidéal oibreacha ar chúl gheata an Ospidéil. Ciorraíonn an bealach isteach seo go mór, a bhfuil rampa a chlaonann go réidh air, an chonair isteach go dtí an tospidéal dóibhsean a théann go dtí an t-ospidéal ar Luas. Tá suiteáil de thaispeántais eolais déthaobhacha do phaisinéirí agus rolláil amach Taispeántais Eolais Paisinéara déthaobhacha de réir a chéile ag stadanna uile na Líne Glaise is na Líne Deirge ina chabhair nach beag do lucht úsáidte uile an chórais. Chomhlíon an GFI dlí fostaíochta agus treoirlínte ábhartha, na comhaontaithe náisiúnta pá san áireamh, i. Tá na Comhaltaí ag comhlíonadh a bhfreagracht as géilliúntas, ar gach bealach ábhartha, le forálacha Rialacháin na gcomhphobal Eorpacha (Íocaíochtaí Déanacha in Idirbhearta Tráchtála) 2002 ( Na Rialacháin ). Iniúchóirí Ceapadh Deloitte & Touche, Cuntasóirí Cairte, mí Dheireadh Fómhair agus leanfaidh siad in oifig. Thar ceann na gcomhaltaí Cormac O Rourke Cathaoirlach Rory O Connor Príomhfheidhmeannach Gníomhach 29 Aibreán 2014

40 22 RÁITIS AIRGEADAIS NA GFI 23 RÁITIS AIRGEADAIS NA GFI TUARASCÁIL NA niniúchóirí NEAMH- SPLEÁCHA AR NA RÁITIS AIRGEADAIS DO CHOMHALTAÍ NA GNÍOMH AIREACHTA UM FHÁIL IARNRÓID Tá iniúchadh déanta againn ar ráitis airgeadais na Gníomhaireachta um Fháil Iarnróid don bhliain dar críoch 31 Nollaig ar a n áirítear an Cuntas Ioncaim agus Caiteachais, Ráiteas ar na Gnóthachain agus na Caillteanais Aitheanta Uile, Réiteach ar Ghluaiseacht i gcistí na Gníomhaireachta, an Clár Comhardaithe, an Ráiteas ar Shreabhadh Airgid agus na nótaí gaolmhara 1 go 25. Is iad dlí na héireann agus caighdeáin chuntasaíochta eisithe ag an gcomhairle um Thuairisciú Airgeadais agus foilsithe ag Institiúid na gcuntasóirí Cairte in Éirinn (Cleachtais Chuntasaíochta a bhfuil GnáthGhlacadh leo in Éirinn) an creat tuairisciú airgeadais atá i bhfeidhm in ullmhú na ráiteas airgeadais. Is do chomhaltaí na Gníomhaireachta amháin, mar chomhlacht, faoi réir Alt 19 de Acht Iompair (Bonneagar Iarnróid) 2001 a dhéantar an tuarascáil seo. Chuamar i mbun na hoibre iniúchta le go bhféadfaimis a lua le comhaltaí na Gníomhaireachta na nithe sin a luaimid inár dtuarascáil iniúchóra agus chun na críche sin amháin. Chomh fada agus is ceadmhach dúinn de réir dlí ní ghlacaimid ná ní ghabhaimid chugainn féin freagracht do dhuine ar bith seachas don Ghníomhaireacht agus do chomhaltaí na Gníomhaireachta mar chomhlacht, as ár n-obair iniúchta, as an tuarascáil seo, ná as na tuairimí ar thángamar orthu. ráitis airgeadais le go bhféadfaí barántas réasúnta a thabhairt go raibh na ráitis airgeadais saor ó aon mhíráiteas ábhartha, bíodh sé ann de dheasca calaoise nó earráide. Tá san áireamh anseo: cé acu an bhfuil nó nach bhfuil na cleachtais chuntasaíochta oiriúnach do thosca na Gníomhaireachta agus cé acu an raibh siad nó nach raibh siad curtha i bhfeidhm go seasta agus nochta go fónta; réasúntacht na meastachán cuntasaíochta a rinne na Comhaltaí; agus cur i láthair foriomlán na ráiteas airgeadais. Thairis sin, léimid an fhaisnéis airgeadais agus neamhairgeadais uile sna Ráitis Airgeadais chun aon neamhchomhsheasmacht ábhartha leis na ráitis airgeadais iniúchta a aithint agus chun aon fhaisnéis earráideach ábhartha sofheicthe bunaithe ar, nó neamhchomhsheasmach abhartha leis, an eolas atá faighte againn le linn fheidhmiú an iniúchta. Má thagaimid ar aon mhíráiteas nó aon neamhchomhsheasmhacht ábhartha sofheicthe smaoinímid ar na himpleachtaí dár dtuairisc. Tuairim ar na ráitis airgeadais Is í ár dtuairim go dtugann na ráitis airgeadais léargas fíor agus cothrom, a thagann leis an gcleachtas Cuntasaíochta a bhfuil Gnáth- Ghlacadh leis in Éirinn, ar staid ghnóthaí na Gníomhaireachta ar 31 Nollaig agus ar a heasnamh don bhliain a chríochnaigh ansin. Freagrachtaí chomhaltaí agus iniúchóirí faoi seach Mar atá mínithe ar bhealach níos iomláine sa Ráiteas ar Fhreagrachtaí na gcomhaltaí tá na comhaltaí freagrach as ullmhú na ráiteas airgeadais chun léargas fíor agus cothrom a thabhairt. Is é an dualgas atá orainne na ráitis airgeadais a iniúchadh agus tuairim a nochtadh ar na ráitis airgeadais faoi réir dlí na héireann agus Caighdeán Iniúchóireachta Idirnáisiúnta (Ríocht Aontaithe agus Éire). Éilíonn na caighdeáin seo go gcloífimis le Caighdeáin Eiticiúla an Bhoird um Chleachtais Iniúchóireachta a bhaineann le hiniúchóirí. Scóip an Iniúchta ar na ráitis airgeadais Tá i gceist le hiniúchadh dóthain fianaise a fháil faoi na suimeanna agus faoin bhfaisnéisiú sna Tuairimí ar ábhair eile Tá gach faisnéis agus gach míniú, a bhraithimid a bheith riachtanach chun críche ár niniúchta, faighte againn. Is í ár dtuairim gur choimeád an Ghníomhaireacht leabhair cheart cuntasaíochta. Tá na ráitis airgeadais ag teacht leis na leabhair chuntais. Is í ár dtuairim go bhfuil an fhaisnéis a thugtar i dtuarascáil na gcomhaltaí ag teacht leis na ráitis airgeadais. Nithe a bhfuil dualgas orainn a thuairisciú ar bhonn eisceachtúil Níl aon ní le tuairisciú againn ar na nithe seo a leanas: Tá dualgas orainn faoin gcód Cleachtais um Rialachas Comhlachtaí Stáit ( an Cód Cleachtais ) tuairisc a thabhairt daoibh mura léiríonn an ráiteas faoin gcóras rialachais inmheánaigh, a éilítear sa Chód Cleachtais, mar atá i dtuarascáil na gcomhaltaí, géilliúntas na Gníomhaireachta do pharagraf 13.1 (iii) den Chód Cleachtais nó mura bhfuil sé ag teacht leis an bhfaisnéis a bhfuil eolas againne air ónár nobair iniúchóireachta ar na ráitis airgeadais. Deloitte & Touche Cuntasóirí Cairte agus Cuideachta Iniúchta Reachtúil Baile Átha Cliath Dáta: 29 Aibreán 2014

41 24 RÁITIS AIRGEADAIS NA GFI 25 RÁITIS AIRGEADAIS NA GFI Cuntas Ioncaim agus Caiteachais Don bhliain dar críoch 31 Nollaig Nóta Easnamh Oibríochta 2 (2,274) (3,610) Ús iníoctha agus muirir dá shórt 6(a) (86) (218) Ioncam eile airgeadais 6(b) Ús infhaighte 6(c) 714 2,135 Easnamh roimh cháin ar gnáth ghníomhaíochtaí (1,558) (1,600) Creidmheas /(muirear) cánach ar chaillteanas ar ghnáth-ghníomhaíochtaí 9 20 (113) Easnamh coinnithe don bhliain (1,538) (1,713) Faofa ag na Comhaltaí ar 29 Aibreán 2014 Cormac O Rourke Cathaoirleach Rory O Connor Prómhfheidhmeannach Gníomhach Ráiteas ar na Gnóthachain agus na Caillteanais Aitheanta Uile Don bhliain dar críoch 31 Nollaig Nóta Easnamh coinnithe don bhliain (1,538) (1,713) Gnóthachan achtúireach aitheanta sa scéim um leas scoir 22 1, Méadú ar an gcaillteanas do-aisghabhála ar an leas sochair scoir 22 (1,904) (24) Iomlán na gcaillteanas uile don bhliain (1,509) (1,711) Réiteach ar Ghluaiseacht i gcistí na Gníomhaireachta Don bhliain dar críoch 31 Nollaig Cistí na Gníomhaireachta Cúlchiste Iomlán Cistí na Gníomhaireachta Cúlchiste Iomlán Easnamh coinnithe don bhliain Gnóthacain aitheanta eile (1,538) - (1,538) (1,713) - (1,713) Gluaiseacht don bhliain (1,509) - (1,509) (1,711) - (1,711) Aistriú ón gcúlchiste 1,711 (1,711) - 2,315 (2,315) - Gluaiseacht Ghlan don bhliain 202 (1,711) (1,509) 604 (2,315) (1,711) Ar 1 Eanáir 4,773 17,754 22,527 4,169 20,069 24,238 Ar 31 Nollaig 4,975 16,043 21,018 4,773 17,754 22,527

42 26 RÁITIS AIRGEADAIS NA GFI 27 RÁITIS AIRGEADAIS NA GFI Clár Comhardaithe Ar 31 Nollaig Ráiteas ar Shreabhadh Airgid Don bhliain dar críoch 31 Nollaig Sócmhainní in úsáid Nóta Gníomhaíochtaí Oibríochta Nóta Sócmhainní seasta Eis-sreabhadh glan ó ghníomhaíochtaí oibríochtaí 21(a) (3,793) (8,854) Sócmhainní seasta inláimhsithe 10 1,093,459 1,120,806 Torthaí ar infheistíochtaí agus ar sheirbhísiú airgeadais Sócmhainní reatha Féichiúnaithe 11 9,268 8,357 Ús faighte 1,120 3,481 1,120 3,481 Taiscí bainc agus airgid 12 47,315 45,937 56,583 54,294 Creidiúnaithe (suimeanna dlite taobh istigh de bhliain) 13 (14,458) (13,306) Cánachas Cáin chorparáide íoctha (270) (436) Glan-sócmhainní reatha 42,125 40,988 Soláthair do dhliteanais is do mhuirir 16 (158,141) (140,318) Creidiúnaithe (suimeanna dlite taobh istigh de bhliain) 14 (33,470) (34,409) Glan-sócmhainní gan sócmhainn phinsin san áireamh 943, ,067 Sócmhainn phinsin Sócmhainní glana 944, ,872 Arna mhaoiniú ag Cúlchistí Cistí na Gníomhaireachta 15 4,975 4,773 Cúlchiste 15(a) 16,043 17,754 Deontais , ,998 Maoiniú Eile 18 35,383 33,347 Caiteachas caipitil agus infheistíocht airgeadais Íocaíochtaí chun sócmhainní seasta inláimhsithe a fháil (21,239) (23,254) Tobhaigh fhorbartha agus ranníocaíochtaí 1, Deontais 23,922 22,897 airgid chaipitiúil 4,321 (24) Insreabhadh / (eis-sreabhadh) glan airgid roimh mhaoiniú 1,378 (5,833) Maoiniú Iasachtaí ón Státchiste aisíoctha - (14,038) Méadú / (laghdú) ar airgead 21(b) 1,378 (19,871) Caipiteal agus Cúlchistí 944, ,872 Faofa ag na Comhaltaí ar 29 Aibreán 2014 Cormac O Rourke Cathaoirleach Rory O Connor Príomhfheidhmeannach Gníomhach

43 28 RÁITIS AIRGEADAIS NA GFI 29 RÁITIS AIRGEADAIS NA GFI Nótaí ar na Ráitis Airgeadais Don tréimhse dar críoch 31 Nollaig 1. Polasaithe Cuntasaíochta A. An Gnás Cuntasaíochta Ullmhaíodh na ráitis airgeadais faoi réir an ghnás chéadchostais. B. Deontais agus Maoiniú Eile Coimeádtar deontais a fhaightear agus atá infhaighte do thionscadail chaipitiúla i gcuntas do dheontais agus amúchtar iad don chuntas ioncaim agus caiteachais de réir mar a dhéantar dímheas ar na sócmhainní gaolmhara. Soláthraítear deontais faoi Chlár Chistiú Caipitil an ÚNI. Tagann maoiniú an Státchiste dósan ón Roinn Iompair, Turasóireachta agus Spóirt faoin a n imchlúdach caipitiúil do thionscadail chaipitiúla i.e. clár caipitiúil Mhórcheantar Bhaile Átha Cliath (MCBÁC) Coinnítear Maoiniú Eile a fhaigheann an Ghníomhaireacht i bhfoirm tobhach forbartha agus ranníocaíochtaí ó fhorbróirí agus a úsáidtear (faoi réir fhorálacha na gcomhaontaithe ábhartha) chun caiteachas caipitil a mhaoiniú i gcuntas do thobhaigh fhorbartha agus ranníocaíochtaí ó fhorbróirí agus amúchtar iad don chuntas ioncaim agus caiteachais de réir mar a dhéantar dímheas ar na sócmhainní gaolmhara. Is Údaráis Áitiúla a bhailíonn na tobhaigh fhorbartha faoi na forálacha reachtúla ábhartha. Eascraíonn ranníocaíochtaí fhorbróirí ó chomhaontaithe déthaobhacha le daoine príobháideacha, le cuideachtaí nó le comhpháirtíochtaí. Is féidir le deontais a sholáthraítear ón Státchiste mar réamh-mhaoiniú d fheidhmiú thionscadail áirithe, a bhfuil scéimeanna tobhach forbartha ann dóibh, a bheith inaisíoctha faoi réir théarmaí Threoir an Aire do thionscadal ar leith. Nuair is ann d oibleagáid den chineál seo, déantar meastóireacht ar an méid atá inaisíoctha, bunaithe ar an eolas atá ar fáil agus ar théarmaí Threoir an Aire. Coinnítear mar dhliteanas fadtéarmach méid an deontais atá faighte agus a mheastar a bheith inaisíoctha. Agus an tsuim seo á ríomhadh acu, ní mór don bhainistíocht roinnt rioscaí agus éiginnteachtaí a thabhairt san áireamh, ina measc riosca na forbartha, deireadh a bheith curtha roimh am leis an scéim tobhach, rioscaí a bhaineann le críochnú an tionscadail agus le hathruithe sa dlí. Aithnítear deontais ioncaim sa chuntas ioncaim agus caiteachais le linn na tréimhse céanna is a bhíonn an caiteachas á mhaoiniú. Faightear na deontais seo ó dhá fhoinse: 1. Clár Riarachán agus Costais na GFI de chuid na Roinne Iompair, Turasóireachta agus Spóirt do ghníomhaíochtaí corparáideacha. 2. Clár Mhaoiniú Caipitil MCBÁC de chuid an ÚNI. Faomhtar na deontais seo ar bhonn gach tionscadail ar leith. C. Sócmhainní Seasta Inláimhsithe agus Dímheas Déantar caipitliú mar shócmhainn sheasta ar gach caiteachas chun sócmhainní seasta a fháil, nó caiteachas a chuireann go suntasach lena luach, ar a inniúlacht is iad in úsáid nó le saolré úsáideach eacnamaíochta shócmhainní atá cheana féin ann. Nuair a bhaineann caiteachas le fáil nó le cruthú sócmhainne nach bhfuil oibríoch nó á úsáid ar dháta an chláir chomhardaithe léirítear an caiteachas úd mar Sócmhainní á dtógáil agus ní dhéanfar dímheas air. Déantar Sócmhainní á dtógáil a mheas do bhearnúchán gach bliain. Ní dhéantar caipitliú mar shócmhainn sheasta ar chaiteachas ar fháil shócmhainní sealúchais ach amháin nuair a bhíonn an beart curtha i ngníomh ina iomláine. Áirítear taobh istigh de réamhíocaíochtaí aon chaiteachas ar shócmhainní sealúchais sula mbíonn an beart curtha i ngníomh. Go nuige seo déantar caipitliú ar ús ar iasachtaí chun sócmhainní caipitiúla a mhaoiniú. Tagann deireadh le caipitliú chostais úis nuair a bhíonn na gníomhaíochtaí riachtanacha chun an tsócmhainn a chur in úsáid tugtha go substaintiúil chun críche. Déantar dímheas ar shócmhainní infreastruchtúr Luas nuair a thosaíonn siad ag tuilleamh ioncam seirbhíse agus déantar amúchadh ar an mbonn céanna ar aon deontas a fhaightear chun iad a cheannach. Déantar dímheas ar shócmhainní seasta eile nuair a chuirtear chun úsáide iad. Áirítear dímheas chun sócmhainní seasta inláimhsithe a dhíscríobh ar bhonn na líne dírí thar a saolré úsáide mar seo a leanas: Blianta Droichid, íosbhealaí, oibreacha cathartha & oibreacha cumasúcháin 50 Foirgnimh 30 Traic Córais Rialaithe & Cumarsáide Fuinneamh Bailiú Táillí 5-15 Páirceáil & Taisteal 30 Rothstoc & trealamh Luas Troscáin & feistis, ardaitheoirí agus páirteanna spártha Daingneáin agus trealamh oifige 3-5 Feabhsú ar áitribh léasacha 10* Feithiclí mótair 5 Mar thoradh ar an athbhreithniú a rinneadh i tá athrú anois ar an ráta dímheasa do ghrúpaí áirithe sócmhainní. Dímheasadh luachleabhar glan shócmhainní áirithe ar thar na blianta úsáideacha saoil a bhí fágtha ag na sócmhainní seo. * Déantar dímheas ar fheabhsú ar áitribh léasacha thar tréimhse 10 mbliana nó thar an chuid de shaol an léasa atá fágtha, cibé ceann is giorra. D. Caipitliú Déantar caipitliú ar chaiteachas a bhaineann le sócmhainní infreastruchtúr iompair agus áiseanna iompair do phaisinéirí atá á dtógáil agus ar chaiteachas forbartha ar thionscadail chaipitiúla atá faofa ag an Rialtas. Chun críche na bpolasaithe seo, sainmhínítear faomhadh an Rialtais do thionscadail a bhaineann le hiarnród sráide nó le metro de réir an dáta ar a iarrtar ordú iarnróid ach amháin sa chás go bhfuil faomhadh faighte ón Rialtas caiteachas caipitil a mhaoiniú sula fhaightear ordú iarnróid. Díscríobhtar caiteachas ar staidéir indéantachta agus ar réamhdhearadh do thionscadail chaipitiúla phoitéinsiúla ach neamhfhaofa i gcoinne an chuntas ioncaim agus caiteachais i mbliain an chaiteachais. E. Pinsin Scéim Ranníocaíochta Sainithe Maoinítear sochar pinsin thar thréimhse seirbhíse na bhfostaithe trí scéim le ranníocaíocht shainithe. Cuirtear costas na ranníocaíochtaí in aghaidh an chuntas ioncaim agus caiteachais de réir mar a bhíonn siad iníoctha. F. Pinsin Scéim Shocair Shainithe Tá soláthar déanta ag an ngníomhaireacht dá n oibleagáidí maidir le pinsin na foirne faoi réir fhorálacha FRS 17 Sochair scoir. Tá scéimeanna a bhfuil farasbarr iontu léirithe mar shócmhainní ar an gclár comhardaithe, glan ar éifeacht chánach iarchurtha orthu. Tá scéimeanna a bhfuil easnamh orthu, maille le scéimeanna neamh-mhaoinithe, léirithe ar an gclár comhardaithe mar dhliteanais, glan ar éifeacht chánach iarchurtha orthu. Aithnítear gnóthachain agus caillteanais achtúireacha láithreach sa ráiteas ar na gnóthachain agus na caillteanais aitheanta uile. Tá uasmhéid an bharrachais ar ceadmhach a aithint ar an gclár comhardaithe teoranta do luach ranníoca saoire fostóra go suthain agus é á thomhas ar bhonn FRS 17. Aithnítear aon tsuim do aisghabhála sa Ráiteas ar Gnóthachain is ar Chaillteanais Uile. G. Cánachas agus Cánachas Iarchurtha Soláthraítear cáin chorparáide ar bharrachas inchánach ag an ráta reatha. Aithnítear cáin iarchurtha i leith gach bearna ama a thosaigh ach nár aisiompaíodh ar dháta an chláir comhardaithe nuair a tharla idirbhearta nó imeachtaí a bhfuil mar thoradh orthu go gcaithfear níos mó cánach a dhíol nó gur féidir níos lú cánach a dhíol sa todhchaí. Is éard atá i mbearnaí ama ná na difríochtaí idir an barrachas, mar a ríomhtar é chun críche cánach, agus an barrachas a léirítear sna ráitis airgeadais difríochtaí a eascraíonn toisc go bpléitear le míreanna áirithe ioncaim agus caiteachais sna ráitis airgeadais ag am eile seachas an t am ag a ríomhtar iad chun críche cánach. Is éard atá i nglansócmhainn chánach iarchurtha ná sócmhainn a mheastar a bheith in aisghabhála agus nach n aithnítear ach amháin nuair a mheastar, ar bhonn na fianaise uile a bhfuil fáil uirthi, gur dóichí ná a mhalairt go mbeidh barrachais oiriúnacha chánach ann ónar féidir

44 30 NÓTAÍ AR NA RÁITIS AIRGEADAIS DON BHLIAIN DAR CRÍOCH 31 NOLLAIG AR LEANÚINT 31 RÁITIS AIRGEADAIS NA GFI aon aisghabháil amach anseo, a eascródh as na difríochtaí bunúsacha ama, a bhaint. Ríomhtar cáin iarchurtha ag na rátaí cánach a mheastar feidhm a bheith leo sna tréimhsí nuair a cheaptar go n aisiompófar na difríochtaí ama, bunaithe ar rátaí cánach atá achtaithe nó achtaithe go substaintiúil ar dháta an chláir chomhardaithe. Meastar cáin iarchurtha ar bhonn neamh-lascainithe. H. Cúlchiste Athraítear barrachais, a ghintear ar Ghnó an Infreastruchtúir, isteach i gcúlchiste. Tá fáil ar an gcúlchiste seo chun maoiniú a dhéanamh ar aon athchóiriú infreastruchtúr Luas amach anseo, ar aon easnaimh oibríochta nó ar thionscal Luas Traschathrach. 2. Operating Deficit 2. Easnamh Oibríochta I. Soláthair do Dhliteanais is do Mhuirir Aithnítear soláthairtí do athchóiriú ráillí, d éilimh dlí agus árachais agus do dheontais inaisíoctha nuair a bhíonn dualgas dlíthiúil nó inchiallaithe reatha ar an ngníomhaireacht mar thoradh ar imeachtaí a bhí tarlaithe agus gur dócha go mbeidh gá le heis-sreabhadh acmhainní chun déileail leis an dualgas agus go mbíonn an tsuim réamh-mheasta ar bhealach muiníneach. Tomhaistear soláthairtí ag luach reatha an chaiteachais mheasta a mbeidh gá leis chun an dualgas a shocrú agus ráta réamhchánach in úsáid atá ag teacht le meastúcháin reatha an mhargaidh ar luach ama an airgid agus na rioscaí a ghabhann leis an dualgas. Aithnítear an méadú sa soláthar de dheasca imeacht aimsire mar chostas úis. Thángthas ar an easnamh oibríochta tar éis sochair/(muirir) a thabhairt san áireamh: Easnamh ar ghníomhaíochtaí infreastruchtúir Luas roimh ús agus cháin Forbairt tionscadal agus costais chorparáideacha na gníomhaireachta Nóta 3 (2,210) (3,441) 4 (8,895) (10,288) Dímheas 10 (46,464) (43,096) Bearnúchán sócmhainní 10 (5,483) - (63,052) (56,825) Tobhaigh amúchta agus sochair iarchurtha 1,508 1,252 Deontais 5 59,270 51,963 Easnamh Oibríochta (2,274) (3,610) 3. Easnamh ar Ghníomhaíochtaí Infreastruchtúir Luas Thángthas ar an easnamh ar ghníomhaíochtaí infreastruchtúir Luas tar éis sochair/(muirir) a chur san áireamh: Glaneasnamh ar sholáthar infreastruchtúir Luas (3,787) (5,007) Glanbharrachas ginte ó shócmhainní gaolmhara Luas 2,207 2,200 Rátaí na núdarás Áitiúla (630) (634) Easnamh ar ghníomhaíochtaí infreastruchtúir Luas roimh ús agus cháin (2,210) (3,441) Ús iarchurtha in aghaidh infreastruchtúr Luas Creidmheas cánach iarchurtha in aghaidh gníomhaíochtaí Luas Dímheas ar shócmhainní féin-mhaoinithe (19) (12) Aistrithe ó Chúlchistí (1,711) (2,315) Bé 46,258,000 (: 42,843,000) an muirear dímheasa ar ghníomhaíochtaí infreastruchtúir Luas agus tá sé cuimsithe sa mhuirear iomlán dímheasa i nóta Forbairt Tionscadal agus Costais Chorparáideacha na Gníomhaireachta Roinntear costais forbartha tionscadal agus costais chorparáideacha mar seo a leanas: Forbairt tionscadal 1,606 2,984 Costais chorparáideacha na Gníomhaireachta 9,067 8,206 Ioncam sealscarúna /comhairleoireachta (1,778) (902) 8,895 10,288 I ngeall ar athbhreithniú ar shócmhainní seasta a rinneadh i, tá athrú anois ar an ráta dímheasa do ghrúpaí áirithe sócmhainní. Tá mar thoradh air seo gur tháinig ardú 2.6m ar dhímheas i agus na rátaí athbhreithnithe in úsáid. Baineann an dímheas de 206,000 (: 253,000) le gníomhaíochtaí corparáideacha. Áirítear sna costais forbartha costais forbartha na dtionscadal infreastruchtúir roimh iarratas a chur isteach ar ordú iarnróid.

45 32 NÓTAÍ AR NA RÁITIS AIRGEADAIS DON BHLIAIN DAR CRÍOCH 31 NOLLAIG AR LEANÚINT 33 RÁITIS AIRGEADAIS NA GFI 5. Deontais Cuntas Ioncaim agus Caiteachais Is éard is brí le deontais ná na deontais ioncaim a bhí infhaighte sa bhliain dar críoch 31 Nollaig agus deontais caipitil amúchta. Faightear deontais ón Státchiste. Mar seo a leanas atá deontais a fuarthas ón Státchiste agus atá cuimsithe sa chuntas ioncaim agus caiteachais: Deontais ón Státchiste 8,850 10,131 Deontais chaipitiúla 44,937 41,832 Deontais ar Bhearnúchán Sócmhainní 5, Ús agus Costais Eile Airgeadais A Ús Iníoctha agus Costais eile dá shórt 59,270 51, Easnamh ar Ghnáth-Ghníomhaíochtaí Roimh Cháin Luaitear an t easnamh ar ghnáth-ghníomhaíochtaí roimh chánachais tar éis na muirir/ (sochair) seo a chur san áireamh: Dímheas 46,464 43,096 Luach saothair na n-iniúchóirí - táille iniúchóireachta seirbhísí eile deimhiúcháin seirbhísí chomhairle chánach seirbhísí eile neamh-iniúchóireachta 2 50 Deontais (59,270) (51,963) Amúchadh tobhach agus sochar iarchurtha (1,508) (1,252) Ús iníoctha don bhliain Cuimsithe sa chuntas ioncaim agus caiteachais Muirear léasa oibriúcháin: Gléasra agus innealra Foirgnimh oifige B Ioncam eile Airgeadais Faoi FRS 17 Sochair scoir léirítear an difríocht idir an t-ús ar dhliteanais na scéime pinsin sochar sainnithe agus an toradh measta ar shócmhainní de 87,800 (: Ioncam 93,000) agus áirithe mar ioncam airgeadais cóngarach d ús (féach nóta 22) C Ús Infhaighte ar Thaiscí Gearrthéarmacha Luach saothair na gcomhaltaí seachas an Príomhfheidhmeannach Gníomhach Táillí Tuarastail Pinsin Ús infhaighte don bhliain 714 2,135 Cuimsithe sa chuntas ioncaim agus caiteachais 714 2,135 Luach Saothair an Phríomhfheidhmeannaigh Ghníomhaigh: Tuarastal* Pinsean 3 5 Sochair eile 3 1 *Baineann comparáidí leis an am ó thosaigh an Príomhfheidhmeannach Gníomhach ar 7 Lúnasa.

46 34 NÓTAÍ AR NA RÁITIS AIRGEADAIS DON BHLIAIN DAR CRÍOCH 31 NOLLAIG AR LEANÚINT 35 RÁITIS AIRGEADAIS NA GFI 8. Fostaithe Mar seo a leanas a bhí meánlíon na ndaoine (Comhaltaí san áireamh) a bhí fostaithe ag an ngníomhaireacht le linn na bhliain: Líon Seirbhísí tacaíochta corparáideacha agus tionscadail Bainistíocht tionscadal agus infreastruchtúir Líon Cáin ar easnamh na ngnáth-ghníomhaíochtaí A. Anailís ar Mhuirear ar Chuntas Ioncaim agus Caiteachais: Cáin reatha: Cáin iarchurtha don bhliain (119) (323) Cáin chorparáide ar easnamh don bhliain Coigeartú a bhainann leis na blianta atá thart Cuimsítear sna costais foirne: Cáin ar easnamh ar ghnáth-ghníomhaíochtaí (20) 113 B. Réiteach ar Mhuirir Ionchais Chánach agan Ráta Caighdeánach leis an Muirear iarbhír Cánach ag an Ráta Cánach Éifeachtach. Pá agus tuarastail 12,513 12,577 Costais leasa shóisialaigh 1,219 1,282 Costais pinsin 1,213 1,205 14,945 15,064 Bain: costais foirne atá caipitilithe i sócmhainní seasta (6,684) (7,427) Cuimsithe sa chuntas ioncaim agus caiteachais 8,261 7,637 Is airde cáin mheasúnaithe na bhliain (:níos airde) ná an cháin mheasta ag an ráta caighdeánach do cháin chorparáide i bpoblacht na héireann % (: 12.5%). Mínítear na difríochtaí mar seo thíos: Easnamh ar ghnáth-ghníomhachtaí roimh cháin (1,558) (1,600) Easnamh ar ghnáth-ghníomhaíochtaí méadaithe faoin ráta caighdeánach cánach chorparáide de 12.5% (:12.5%) i bpoblacht na héireann (195) (200) Difríochtaí ama eile 29 6 Rátaí cánach níos airde ar ioncam neamhghníomhach Coigeartú ar an muirear i leith na bliana roimhe Muirear reatha cánach don bhliain C. Tosca a bhfuil Éifeacht acu ar Mhuirir Chánach Reatha agus ar Cháin Iarchurtha Tá an muirear cánach iarchurtha 0.1m comhdhéanta de 0.02m ar an sócmhainn pinsin agus sochar de 0.1m a bhaineann le cáin iarchurtha agus ar ús fabhraithe ar thaiscí (: 0.3m)

47 36 NÓTAÍ AR NA RÁITIS AIRGEADAIS DON BHLIAIN DAR CRÍOCH 31 NOLLAIG AR LEANÚINT 37 RÁITIS AIRGEADAIS NA GFI 10. Sócmhainní Seasta Inlaimhsithe Costas Infreastruchtúr Luas 000 Sócmhainní á dtógáil 000 Rothstoc & Trealamh 000 Daingneáin agus Trealamh Oifige 000 Feabhsú ar Áitrimh Léasaithe 000 Feithiclí Mótair 000 Iomlán Ar 1 Eanáir 1,089, , ,109 3, ,390,460 Breisithe sa bhliain 3,417 14,230 6, ,600 Diúscairtí (30) (30) Bearnúcháin sa bhliain - (5,483) (5,483) Ar 31 Nollaig 1,092, , ,988 3, ,409,547 Dímheas Carnaithe Ar 1 Eanáir 191,841-74,084 2, ,654 Muirear Dímheasa 35,213-11, ,464 Dúscairtí (30) (30) Ar 31 Nollaig 227,054-85,129 3, ,088 Leabharluach glan Ar 31 Nollaig 897, , , ,120,806 At 31 Nollaig 865, , , ,093,459 Caipitlíodh an t-ús comhiomlán de 3,361,000 mar chuid de na sócmhainní seasta inláimhsithe chun dáta (: Nil; : Nil). I ngeall ar athbhreithniú ar shócmhainní seasta a rinneadh i, tá athrú anois ar an ráta dímheasa do ghrúpaí áirithe sócmhainní. Bhí mar thoradh air seo go raibh ardú sa dímheas de 2.6m i agus na rátaí leasaithe in úsaid Feichiúnaithe (Suimeanna Dlite Taobh istigh de Bhliain Amháin) Réamhíocaíochtaí agus féichiúnaithe eile 4,847 4,723 Deontais infhaighte 3,493 2,936 CBL infhaighte Cáin chorparáide Taiscí Bainc agus Airgid 9,268 8,357 Airgead agus banc 47,315 45, Creidiúnaithe (Suimeanna Dlite Taobh istigh de Bhliain Amháin ) 47,315 45,937 Creidiúnaithe trádala agus fabhruithe 11,577 10,585 Deontais faighte roimh ré 2,881 2,721 14,458 13, Creidiúnaithe (Suimeanna Dlite Tar Éis Bliana Amháin) Ioncam iarchurtha 33,470 34,409 33,470 34,409

48 38 NÓTAÍ AR NA RÁITIS AIRGEADAIS DON BHLIAIN DAR CRÍOCH 31 NOLLAIG AR LEANÚINT 39 RÁITIS AIRGEADAIS NA GFI 15. Cistí na Gníomhaireachta 16. Soláthairtí do Dhliteanais agus do Mhuirir (ar leanúint) Ar 1 Eanáir 4,773 4,169 Easnamh coinnithe don bhliain (1,538) (1,713) Gnóthachan achtúireach aitheanta sa scéim sochair scoir (Nóta 22) 1, Athrú ar bharrachas neamhaitheanta sa scéim sochair scoir (Nóta 22) (1,904) (24) Aistriú ón gcúlchiste (Nóta 15a) 1,711 2,315 Ar 31 Nollaig 4,975 4,773 15a. Cúlchiste Ar 1 Eanáir 17,754 20,069 Aistriú chuig Cistí na Gníomhaireachta (Nóta 15) (1,711) (2,315) Ar 31 Nollaig 16,043 17, Soláthairtí do Dhliteanais agus do Mhuirir árachais agus dlí ar an dóigh agus ar an am ar a shocrófar éilimh atá fós amuigh. Baineann na soláthairtí athchóirithe le costais leasúcháin agus feabhsúcháin atá le teacht. Creideann an Ghníomhaireacht go n úsáidfear an soláthar thar saolré na sócmhainní atá i gceist agus mar thoradh air sin ní móide go ndéanfaidh an soláthar leachtú sa mheántéarma. 17. Deontais Ar 1 Eanáir 931, ,752 Faighte agus infhaighte 33,363 25,501 Aistrithe chuig soláthairtí do dhliteanais & do mhuirir (17,837) 22,708 Deontais ioncaim scaoilte leis an gcuntas ioncaim agus caiteachais (8,851) (10,131) Amúchadh luathaithe a bhaineann le bearnúchán tionscadal (5,483) - Deontais chapitil amúchta (44,936) (41,832) Ar 31 Nollaig 888, ,998 Is féidir go mbeadh deontais a fuarthas ón Státchiste mar réamh-mhaoiniú d fheidhmiú thionscadail áirithe, a bhfuil scéimeanna tobhach forbartha i bhfeidhm dóibh, inaisíoctha faoi réir Threoir an Aire, sainiúil don tionscadal. Bogtar aon deontas a mheastar a bheith inaisíoctha chuig dliteanais fhadtéarmacha faoi réir Nóta 1 (b) ar Pholasaí Cuntasaíochta. Léas Dochraideach Athstruchtúrú Cáin Iarchurtha Deontais Inaisíoctha Éilimh Árachais & Dlíthiúla Athchóiriú Ráillí Iomlán Ar 1 Eanáir 2, , , ,318 Coimeádtar na deontais maoinithe ón Státchiste sa chuntas do dheontais iarchurtha agus scaoiltear iad isteach sa chuntas Ioncaim agus Caiteachais chun caiteachas gaolmhar sa bhliain a mhaitseáil. B iad na deontais bhliantúla a fuarthas is a bhfuil cuntas orthu faoi Chlár Mhaoiniú Chaipitil an ÚNI do MCBÁC agus faoi Chlár Riaracháin agus Costais na GFI i ná 23.9m agus 7.5m faoi seach. Ús Barúlach Gluaiseacht le linn na bliana (649) 305 (102) 17, (192) 17,737 Ar 31 Nollaig 2, , , , Maoiniú Eile Tá na soláthairí ríofa faoi réir na bpolasaithe cuntasaíochta atá legtha amach i Nótaí 1(b) agis (i) leis an ráitis airgeadais seo. Trí choinneálacha agus trí bhannaí árachais a bheith aici, tá soláthar leormhaith déanta ag an ngníomhairacht do chostais ar bith a d eascródh as neamh-fheidhmiú conarthach. Áirítear ar na deontais atá inaisíoctha deontais ón Státchiste a fuarthas mar réamh-mhaoiniú d fheidhmiú thionscadail áirithe, a bhfuil scéimeanna thobhach fhorbartha i bhfeidhm dóibh, agus a mhestar a bheith inaisíoctha faoi reir Nóta 1(b) ar an bpolasaí Cuntasaíochta. Tá na deontais seo inaisíoctha thar shaolré na scéimeanna tobhach agus mar thoradh air seo ní móide go ndéanfaidh siad leachtú sa mheánthéarma. Ar 1 Eanáir 33,347 33,175 Tobhaigh forbartha agus ranníocaíochtaí ó fhorbróirí 2, Amúchadh tobhach (199) (161) Ag deireadh na bliana 35,383 33,347 Mar atá leagtha amach i Nóta 1(b), coimeádtar na tobhaigh fhorbartha agus na síntiúis ó fhorbróirí, a fhaigheann an Ghníomhaireacht, i gcuntas do thobhaigh fhorbartha agus do shíntiúis ó fhorbróirí agus amúchtar iad don chuntas ioncaim agus caiteachais de réir mar a dhíscríobhtar na sócmhainní gaolmhara. Beidh an léas dochraideach istigh taobh istigh go hiomlán de thrí bliana ó dháta an chláir comharduithe. Baineann soláthairtí d athstruchtúrú go príomha le hiomarcaíocht agus úsáidfear iad ina n-iomláine taobh istigh de dháta an chláir comharduithe. Braitheann úsáid an tsoláthair d éilimh

49 40 NÓTAÍ AR NA RÁITIS AIRGEADAIS DON BHLIAIN DAR CRÍOCH 31 NOLLAIG AR LEANÚINT 41 RÁITIS AIRGEADAIS NA GFI 19. Ceangaltais Chaipitiúla 21. Sreabhadh Airgid A. Réiteach an Bharrachais Oibriúcháin leis an Eis-sreabhadh Airgid ar Ghníomhaíochtaí Oibríocha: Ní raibh soláthar déanta sna ráitis airgeadais ag deireadh na bliana do na cangaltais chaipitiúla seo a leanas a bhí faofa ag na Comhaltaí: Faoi chonradh ach gan soláthar 29,058 8,627 Údaraithe ach gan a bheith faoi chonradh 47,449 9, Ceangaltais Airgeadais 76,507 18,584 Easnamh oibríochta (2,274) (3,610) Dímheas 46,464 43,096 Amúchadh tobhach agus sochar iarchurtha (1,538) (312) Sochar/(muirear) pinsin de bhreis ar an mbarrachas oibriúcháin Bearnúchán Sócmhainní 5,482 - Talamh & Foirgnimh Léasanna Oibriúcháin Eile (Méadú)/ laghdú ar fhéichiúnaithe (252) 2,623 Deontais (51,770) (43,713) (Méadú)/ laghdú ar chreidiúnaithe 54 (6,059) Ar 31 Nollaig bhí ceangaltais bhliantúla faoi léasanna oibriúchain neamhinchealaithe mar seo a leanas: Taobh istigh de bhliain nó níos lú - 24 Taobh istigh de bhreis is bliain ach níos lú ná cúig bliana Taobh istigh de bhreis is cúig bliana Ar 31 Nollaig, bhí ceangaltais bhliantúla faoi léasanna oibriúcháin neamhinchealaithe mar seo a leanas: Taobh istigh de bhliain nó níos lú - 11 Taobh istigh de bhreis is bliain ach níos lú ná cúig bliana Taobh istigh de bhreis is cúig bliana (Laghdú) ar an soláthar do dhliteanais is do mhuirir (76) (974) B. Réiteach an Ghlansreabhadh Airgid le Gluaiseacht sa Ghlanfhiachas: (3,793) (8,854) Méadú / (laghdú) ar airgead le linn na bliana 1,378 (19,871) Airgead glan ag tús na bliana 45,937 65,808 Airgead glan ag deireadh na bliana 47,315 45,937 C. Anailís ar na hathruithe sa Ghlanfhiachas Ar 1 Ean Sreabhadh Airgid Ar 31Noll Taiscí Airgid 45,937 1,378 47,315 45,937 1,378 47,315

50 42 NÓTAÍ AR NA RÁITIS AIRGEADAIS DON BHLIAIN DAR CRÍOCH 31 NOLLAIG AR LEANÚINT 43 RÁITIS AIRGEADAIS NA GFI 22. Ceangaltais Phinsin Baill de scéim ranníocaíochta sainithe, a bhfuil a mionsonraí tugtha thíos, iad formhór d fhostaithe na Gníomhaireachta a dhéanann ranníocaíochtaí. Baill de scéim shocair shainithe na GFI, a bhunaigh an Ghníomhaireacht i 2003, iad fuílleach na bhfostaithe a dhéanann ranníocaíochtaí pinsin. Tugtar mionsonraí an scéim shocair shainithe thíos. Scéim Ranníocaíochtaí Sainnithe Tosaíodh scéim pinsin le ranníocaíochtaí sainithe i 2003 d fhoireann na Gníomhaireachta nach raibh i dteideal bheith ina mbaill den scéim shocair shainithe atá nótáilte thíos. Níl aon dliteanas maoinithe faoi FRS 17 ag baint leis an bplean seo. Is ionann an muirear pinsin a baineann leis an scéim seo agus ranníocaíochtaí iníoctha na Gníomhaireachta don bhliain, is é sin 865,000 (: 918,000). Scéimeanna Sochair Sainnithe Chun forálacha alt 24 agus alt 25 den Acht Iompair (Infreastruchtúr Iarnróid) 2001 a chomhlíonadh thosaigh an Ghníomhaireacht scéim shochair shainithe i 2003 chun freastal ar theidlíochtaí pinsin na bhfostaithe úd a d aistrigh ón scéim shochair shainithe 1951 de chuid CIE. Baineadh úsáid as scéim shamhail an teimpléid do shocruithe pinsin san earnáil phoiblí, a d eisigh an Roinn Airgeadais, agus í leasaithe mar ba ghá chun gurbh ionann na sochair fúithi agus na sochair a bhí ar fáil ó scéim shochair shainithe CIE 1951 agus an scéim nua á bhunú. Bé 194,000 (: 136,000) an muirear pinsin le sochar sainithe don bhliain le 282,000 gearrtha ar an easnamh oibriúcháin (: 229,000) agus 88,000 (: 93,000) curtha do shochar ioncam airgeadais eile. Bé sciar na ranníocaíochta do scéim shainithe na GFI le linn na bliana ná 25,000 (: 226,000). Ar 31 Nollaig rinne achtúire neamhspleách, le cáilíochtaí gairmiúla, luacháil iomlán ar shócmhainní agus ar dhliteanais scéim na GFI. Luacháladh na sócmhainní agus na dliteanais úd agus modh an aonaid bharrtheilgthe in úsáid. Tuairiscíodh barrachas pinsin de 682,000, a mheastar a bheith in- athghabhála thar thréimhse na scéime, ar an gclár comhardaithe. Léirigh luacháil an bharrachais faoi FRS 17 barrachas teicniúil de 3,631,000. Ag an am céanna, tá srian curtha le méid an bharrachais ar féidir a aithint ar an gclár comhardaithe go dtí luach sciar an fhostóra ar shaoire suthaine agus é á mheas ar bhonn FRS17. Faoi na rialacha sin ní mheastar ach 780,000 a bheith inathghabhála agus mar thoradh air sin laghdaíodh an barrachas pinsin de 2,851,000 chun méid an bharrachais a theorannú go dtí an tsuim mheasta in-aisghabhála, 780,000. Gearradh cáin iarchurtha de 98,000 ar an mbarrachas pinsin. 22. Ceangaltais Phinsin (ar leanúint) Is iad seo a leanas na suimeanna a aithníodh ar an gclár comhardaithe Luach reatha dhlitenais na scéime (9,977) (11,045) Luach Cóir shócmhainní na scéime 13,608 12,912 Barrachas Pinsin 3,631 1,867 Sócmhainn neamh-inaisghabhala i ngeall ar an srian i bparagraf 41 de FRS17 (2,851) (947) Sócmhainní aitheanta ar an gclár comhardaithe Cáin ghaolmhar iarchurtha (98) (115) Sócmhainn Ghlan Pinsin Is iad seo a leanas na suimeanna a aithníodh sa chuntas ioncaim agus caiteachais: 31 Noll 31 Noll Costas úis (399) (448) Torthaí measta sr shócmhainní na scéime Ioncam Eile Airgeadais Táille Seirbhíse Reatha san áireamh i gcostais chorparáideacha na Gníomhaireachta (282) (229) (194) (136) Fíor-thoradh ar shócmhainní na scéime 618 1,493 Is iad seo a leanas na suimeanna a aithníodh sa Ráiteas ar na Gnóthachain agus na Caillteanais aitheanta uile: 31 Noll 31 Noll Fíor-thoradh measta ar shócmhainní na scéime Gnóthachain ó thaithí 1, Athruithe ar an mbonn tuisceana a bhfuil luach reatha dhliteanais na scéime bunaithe air 494 (1,726) Gnóthachain achtúiracha aitheanta i STRGL 1, Athrú ar an mbarrachas neamh-inaisghabhála ar an scéim leasa scoir (1,904) (24) Ghóthachan iomlán aitheanta i STRGL 29 2 Is í 2,243,000 (31 Nollaig : 2,272,000) an caillteanas achtúireach carnach a aithníodh sa ráiteas ar na gnóthachain agus ar na caillteanais aitheanta uile go dtí 31 Nollaig. Beidh ranníocaíochtaí measta de Nil ann don bhliain dar críoch 31 Nollaig.

51 44 NÓTAÍ AR NA RÁITIS AIRGEADAIS DON BHLIAIN DAR CRÍOCH 31 NOLLAIG AR LEANÚINT 45 RÁITIS AIRGEADAIS NA GFI 22. Ceangaltais Phinsin (ar leanúint) 22. Ceangaltais Phinsin (ar leanúint) Gluaiseacht i Sócmhainní agus i ndliteanais na Scéime Rioscaí agus luach saothair ag eascairt as na sócmhainní Sócmhainní na Scéime Dliteanais na Scéime Barrachas Pinsin Ar 31 Nollaig bhí sócmhainní na scéime infheistithe i gciste Comhaontaithe Irish Life, i gciste Airgid Irish Life, i gciste Bhannaí AAA 10 mbliana Irish Life, i gciste Bhannaí na hísiltíre 2042 de chuid Irish Life agus i gciste Shealúchas Éireananch Irish Life. Socraíonn na hiontaobhaithe ar an meascán sócmhainní ag brath ar phróifíl na scéime. Ar 1 Eanáir 11,136 (9,385) 1,751 Costas seirbhíse reatha - (229) (229) Ús ar dhliteanais na scéime - (448) (448) Tá luach cóir shócmhainní na scéime mar chéatadán d acmhainní iomlána na scéime leagtha amach thíos: (mar chéatadán de shócmhainní uile na scéime) 31 Noll % 31Noll % Toradh measta ar shócmhainní na scéime Fíor-thoradh, lúide toradh measta, ar shócmhainní na scéime Gnóthachain ó thaithí ar dhliteanais Athrú ar an mbonn tuisceana - (1,726) (1,726) Ranníocaíochtaí ón lucht rannpháirtíochta 81 (81) - Ranníocaíocht an fhostóra íoctha Sochair íoctha (24) 24 - Ar 31 Nollaig 12,912 (11,045) 1,867 1 Eanáir 12,912 (11,045) 1,867 Ús ar dhliteanais na scéime - (282) (282) Toradh measta ar shócmhainní na scéime - (399) (399) Fíor-thoradh, lúide toradh measta, ar shócmhainní na scéime Gnóthachain ó thaithí ar dhliteanais Athrú ar an mbonn tuisceana - 1,308 1,308 Ranníocaíochtaí ón lucht rannpháirtíochta Ranníocaíocht an fhostóra íoctha 77 (77) - Sochair íoctha Benefits paid (24) 24 - Ar 31 Nollaig 13,608 (9,977) 3,631 Eascraíonn iomlán de dhliteanais na scéime thuas as scéim atá maoinithe go hiomlán. Cothromais Bannaí Eile Ní áirítear i sócmhainní na scéime aon chuid d urrúis airgeadais na Gníomhairachta um Fháil Iarnróid ná aon sealúchas atá i seilbh na Gníomhaireachta um Fháil Iarnróid. Bunús an ráta measta toraidh ar shócmhainní na scéime Tá an toradh measta ar bhannaí bunaithe ar an toradh ar bhannaí i gcrios an euro. Bé sin 2.00% (: 3.15%) ar 31 Nollaig. Meastar go mbeidh an toradh fadtéarmach ar chothromais níos airde trí chorrlach, an riosc-phréimh. Agus riosc-phréimh an chothromais á mheas, rinneadh anailís ar thorthaí san am atá thart, rud a thugann rioscphréimh de 3.00% thar an toradh ar bhannaí rialtais fadtéarmacha i gcrios an euro. Tugann sé seo toradh de 5.00% (: 6.15%) Meastar gurb é 1.1% (: 1.1%) an toradh a bheidh ar shócmhainní eile na scéime, meastachán a ghlacann le toradh ualaithe ar airgead de 1.0% agus 6.0% ar shealúchas. Fágann se seo gurb é 1.25% an toradh measta ar shócmhainní na scéime ar 31 Nollaig tar éis soláthar a dhéanamh do thobhach pinsin de 0.75% i (: 3.8%). Na príomh-eilimintí den bhonn tuisceana achtúireach ar dháta an chlár comhardaithe: 31 Noll % 31Noll % Ráta lascaine Arduithe tuarastail san am atá le teacht Méaduithe pinsin san am atá le teacht Ráta boilscithe Tá an bonn tuisceana faoi bhásmhaireacht amach anseo bunaithe ar staitisticí foilsithe agus ar thaithí.

52 46 NÓTAÍ AR NA RÁITIS AIRGEADAIS DON BHLIAIN DAR CRÍOCH 31 NOLLAIG AR LEANÚINT 47 RÁITIS AIRGEADAIS NA GFI 22. Ceangaltais Phinsin (ar leanúint) Tá an bonn tuisceana faoi bhásmhaireacht bunaithe ar tháblaí caighdeánacha ina bhfuil soláthar déanta do fheabhsuithe sa bhásmhaireacht amach anseo. Tá pinsinéir reatha amháin sa scéim. Tá an fad saoil bunaithe ar bhaill a éiríonn as obair ag aois Noll Blianta 31 Noll Blianta Fireann Baineann Bí seo a leanas Stair Ghnóthachan agus Chaillteanas ó Thaithí: Luach láithreach dhliteanas na scéime Méid (). (9,977) (11,045) (9,385) (8,574) (9,928) 23. Dlíthíocht agus Éilimh Ó am go chéile, bíonn an Ghníomhaireacht ina páirtí in imeachtaí dlíthiúla éagsúla. Tá na Comhaltaí den tuairim nach mbeidh aon chaillteanas, más ann dó, a eascraíonn as na gnóthaí seo níos mó ar aon tslí ábhartha ná na soláthairtí atá déanta sna ráitis airgeadais. Tugann Nóta 16 leis an ráitis airgeadais eolas faoin soláthar atá déanta i leith éilimh árachais agus dlíthiúla ar 31 Nollaig. 24. Bearta a bhaineann le Páirtithe Gaolmhara Sa ghnáth-shlí, déanann an Ghníomhaireacht gnó le haonáin atá á rialú ag Rialtas na héireann. Bé 5.7m luach iomlán an ghnó a rinneadh sa bhliain dar críoch 31 Nollaig (: 12.0m). Ag deireadh na bliana bhí gaol airgeadais ag an GFI le Bainc- Aontas Éireann agus le Gníomhaireacht Bainistíochta an Chisteáin Náisiúnta. B iad comharduithe airgid i dtaisce leis na bainc ná 42.6m agus 4.4m faoi seach. 25. Figiúirí Comparáideacha Athshonraíodh figiúirí comparáideacha áirithe chun teacht leis an tslí inar pléadh leo sa bhliain reatha. Luach cóir shóchmhainní na scéime Méid (). 13,608 12,912 11,136 11,123 10,120 3,631 1,867 1,751 2, Barrachas do-aisghabhála ar scéim shochair scoir (2,851) (947) (923) (1,544) - Barrachas pinsin Méid () , Coigeartuithe ó thaithí ar dhliteanais na scéime Méid (). 1, Mar chéatadán de dhliteanais na scéime ar dháta an chláir comhardaithe (%) Coigeartuithe ó thaithí ar shócmhainní na scéime Méid () (724) Mar chéatadán de shócmhainní na scéime ar dháta an chláir comhardaithe (%) (6.5) Méid iomlán aitheanta ar ráiteas na ngnóthachan is na gcaillteanas uile Méid () (236) Céatadán de luach reatha dhliteanais na scéime (%) (2.5)

53 49 RÁITIS AIRGEADAIS NA GFI

54 An Ghníomhaireacht um Fháil Iarnród Ionad Gnó Gheata na Páirce Sráid Gheata na Páirce Dublin 8 T: F: