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 2022 and 2021.

2022 Actual (€)
2021 Actual (€)
Secretariat
915,642
762,450
Board and governance
367,744
228,077
Consultants and services
338,021
490,648
Strategy projects
304,175
400,895
IT software
278,667
318,937
Travel, subsistence and meetings
121,409
340
Depreciation and amortisation
53,524
55,461
Finance costs
46,127
-
Total Expenditure
2,425,309
2,256,808

Notes
Secretariat: the cost of the people who carry out the day-to-day running of SBP.
Board and governance: the costs arising from running SBP’s multi-stakeholder governance system.
Consultants and services: the costs of consultants engaged to carry out specific project work and multiple service providers for functions including accountancy, payroll, secretarial services, accreditation, assurance, and legal advice.

Strategy projects: the costs associated with the three-year work plan (2020-22) in support of SBP’s strategic objectives.
IT software: the costs associated with licences for the use of multiple software products, including running and developing the DTS and the Audit Portal.
Travel, subsistence and meetings: the travel-related costs that arise from the day-to-day running of SBP, running working groups, attending industry events and engaging with stakeholders.
Depreciation and amortisation: the cost of SBP’s tangible assets and software development spread over the lifetime of each asset.
Finance costs: predominantly the cost of bad debts arising from uncollected fees, following the termination of certificates in Russia and Belarus.