Financial information

SBP is a not-for-profit organisation. The table below gives a breakdown of the total expenditure in 2016 and 2017, and the budget for 2018.

 

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

Secretariat

554

578

584

Advisory Board

87

115

62

Travel & Subsistence

209

165

148

Certification Costs

155

193

153

IT, Legal & Professional Fees

18

146

172

Depreciation

1

13

2

Foreign Currency Losses/(Gains)

21

1

0

Other Expenditure

218

132

214

 

 

 

 

Total Operating Costs

1,263

1,343

1,355

 

 

 

 

Capital Projects

48

61

20

 

 

 

 

Total Expenditure

1,311

1,404

1,355

 
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.
Certification Costs: SBP 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.