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.