Financial information

SBP is a not-for-profit organisation, with the intention to break even over the financial year. Should any profit be generated, those monies will be re-invested into the organisation.

The table below gives a breakdown of the total expenditure in 2016, 2017 and 2018.

 

  2016  
Actual
€'000 
2017  
Actual
€'000  
2018  
Actual
€'000  

Secretariat

554

578

770

Advisory Board

87

115

133

Travel & Subsistence

209

165

111

Accreditation and Assurance Costs

155

193

113

IT, Legal & Professional Fees

18

146

194

Depreciation

1

13

37

Foreign Currency Losses/(Gains)

21

1

11

Other Expenditure

218

132

48

 

 

 

 

Total Operating Costs

1,263

1,343

1,417

 

 

 

 

Capital Projects

48

61

37

 

 

 

 

Total Expenditure

1,311

1,404

1,454

 
Notes
Secretariat: the costs incurred through the day-to-day running of SBP.
Advisory Board: the costs predominantly associated with the meetings held by the Advisory Board each year.
Travel & Subsistence: includes those costs that arise from the day-to-day running and governance of SBP, running working groups, attending industry events and engaging with stakeholders.
Accreditation and Assurance Costs: SBP outsources management of the accreditation program to ASI and engages a number of technical experts to carry out reviews of the certification decisions of the independent Certification Bodies. The category also includes the costs of the independent Technical Committee.
IT, Legal & Professional Fees: includes the necessary legal and professional fees associated with running SBP.
Foreign Currency Losses/(Gains): foreign currency losses reflect the devaluation of Sterling in the second half of 2016 and the impact on SBP's Sterling cash deposits, partially offset by the associated reduction in the cost of Sterling-denominated expenditure.
Capital Projects: the development of the Data Transfer System.