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 2023 and 2022.

2023 Actual (€)
2022 Actual (€)
Secretariat
1,070,680
915,642
Strategy projects
493,742
304,175
Consultants and services
357,417
338,021
IT software
344,037
278,667
Board and governance
300,252
367,744
Travel, subsistence and meetings
138,646
121,409
Depreciation and amortisation
138,959
53,524
Finance costs
9,624
46,127
Total Expenditure
2,853,357
2,425,309

Notes
Secretariat: the cost of the people who carry out the day-to-day running of SBP.
Strategy projects: the costs associated with the three-year work plan (2023-25) in support of SBP’s strategic objectives.
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.
IT software: the costs associated with licences for the use of multiple software products, including running and developing the DTS and Audit Portal, and licences for the use of various software platforms.
Board and governance: the costs arising from running SBP’s multistakeholder governance system.
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: represents bank charges, bad debts, and foreign exchange gains/losses. In 2022, the costs were predominantly bad debts arising from uncollected fees, following the termination of certificates in Russia and Belarus.