Exchequer Account - Account of Receipts and Payments for the year ended 31 December 1996 and related documents - Department of Finance

EXCHEQUER ACCOUNT


Account of Receipts and Payments
for the year ended 31 December 1996




	STATEMENT No.			1996		1995
			£000	£000	£000	£000
Current Receipts:
Tax Revenue		1.1		12,520,241		11,334,626
Non-Tax Revenue		1.2		429,929		332,016
				12,950,170		11,666,642

Current Payments:
Service of National Debt : (a)		2.1	2,359,392		2,404,645
Annuities, Pensions etc., Salaries,
Allowances and Courts		1.3	9,279		8,623
EU Budget Payments		1.4	588,726		547,326
Supply Services: non-Capital		1.5	9,501,680		9,046,051
Miscellaneous Current Payments		1.6	272,633	12,731,710	22,034	12,028,679
Surplus/(Deficit) on Current Account				218,460		(362,037)


Capital Receipts:
Repayable Advances repaid		1.8	35,347		153,651
EU Receipts		1.10	310,187		360,004
Miscellaneous Capital Receipts		1.12	126,669		243,109
				472,203		756,764

Capital Payments:
Supply Services: Capital		1.5	1,355,767		1,160,915
Repayable Advances to State Bodies etc.		1.8	150		70,407
Share Capital acquired in State Bodies		1.9 (A)	10,700		10,200
Share Capital acquired in International		1.9 (B)	1,063		2,057
Bodies
EU Capital Payments		1.11	2,263		442
Miscellaneous Capital Payments		1.13	178	1,370,121	1,250	1,245,271
Surplus/(Deficit) on Capital Account				(897,918)		(488,507)

Total Deficit				(679,458)		(850,544)


Financed by:
Balance in Exchequer at 1 January			524,697		249,158
Money raised by Creation of Debt		2.3	95,629,710		39,845,261
				96,154,407		40,094,419
Less:
Issues for Redemption of Debt		2.3	94,683,705		38,719,178
Balance in Exchequer at 31 December			791,244		524,697
				95,474,949		39,243,875


				679,458		850,544
Note:
(a) The 1996 service of National Debt cost has been decreased by £422,000 to reflect a reclassification
of small savings amounts between interest and debt balances.

STATEMENT 1.2


Non-Tax Revenue


		1996	1995
		£000	£000

Central Bank payment on foot of Surplus Income		176,270	109,524

National Lottery Surplus		89,000	84,500

Bord Gáis Éireann - Section 11 (2), Gas Act, 1976		9,000	8,000

Royalties from Marathon Petroleum Ireland Ltd		7,811	7,764

Interest on Advances from Central Fund :
Aerlínte Éireann Teoranta (on Irredeemable Loan)	362		362
Bord Iascaigh Mhara	2,446		2,490
Bord na Móna	18		19
European Communities Acts, 1972 to 1986 :
FEOGA Guarantee	-		39
Local Loans Fund	26,084		57,703
National Building Agency Ltd	34		37
Nítrigin Éireann Teoranta	-		9
		28,944	60,659
Dividends (Net) on Shares held for the Benefit of the
Minister for Finance :
ACC Bank plc	2,460		1,960
Arramara Teoranta	4		4
Housing Finance Agency plc	3,850		-
ICC Bank plc	2,516		2,397
Irish Life Assurance plc	-		3,228
Telecom Éireann	10,000		-
		18,830	7,589

Fee Stamps credited by the Revenue Commissioners:		2,702	2,484

Receipts not Appropriated in Aid of Votes :-

Agriculture, Food & Forestry :
Recovery of moneys relating to the Feed Voucher Scheme	-		21
Surrender of several suspense balances for previous years	-		13

Civil Service Commission :
Sale of surplus IT equipment	7		-

Defence :
Re-imbursement by the UN of claims in respect of Defence Forces
personnel who died while serving with UNIFIL	2,475		-

Environment :
Refund relating to air travel	-		1
EU Commission funding in respect of the "Sitemaster" project	31		-

Foreign Affairs :
Passport and Consular Fees	11,036		11,526




12





Non-Tax Revenue - continued


		1996	1995
		£000	£000

Justice :
Court Fees	8,782		10,191
Citizenship Certificates	129		194
Court Percentages	38		27
Motoring Fines	9,132		8,008

Land Registry and Registry of Deeds :
Land Registration Fees	16,250		14,755
Registry of Deeds Fees	829		750
Ground Rent Fees	51		64

Marine :
Refund of cleaning costs after oil spillage	-		13

Office of the Ombudsman :
Proceeds from Sale of 1994 Annual Report	-		1

Transport, Energy and Communications :
Aviation Liability Insurance on the Bosphorus aircraft	10		-
Surrender of unused suspense account balances	-		28

Tourism and Trade :
Recoupment of Market Development Fund payments
to mushroom industry	436		-
Surrender of part of CERT's 1995 Grant-in-Aid	340		-

Valuation Office :
Dublin Trade Finishers in Liquidation - surrender from suspense	-		22

		49,546	45,614
Other Receipts :

Proceeds from rationalisation of pension arrangements for certain
National Safety Council staff	-		26
EU Budget refund : adjustments to 1996 and prior year contributions	47,597		4,501
Forfeit election deposits	-		2
Conscience money	59		20
State Guarantees Act, 1954	-		914
State Property Act, 1954 (Sections 29 & 31)	15		7
Surrender of Western Development Fund balance	-		304
Bond moneys from Meteorological Office	-		107
VAT refund from Irish Chemical Co.	-		1
Proceeds from two sets of High Court proceedings in 1984	112		-
Income from the Embezzled Charity Recovery Fund	1		-
Refund of Ministerial and Dáil pensions	21		-
Income from Irish Life policy placed by Dublin District Milk Board	21		-
		47,826	5,882



PAYMENTS INTO EXCHEQUER		429,929	332,016



			13

STATEMENT 1.8


Capital Investments: Repayable Advances



Body/Fund	Outstanding			Outstanding
	at	Advances	Advances	at
	31 December	issued	repaid	31 December
	1994	1995	1995	1995

	£000	£000	£000	£000

Bord Iascaigh Mhara	21,503	355	1,232	20,626
Bord na Móna	288	-	22	266
Bula Ltd (in receivership) (a)	956	-	-	956
Coillte Teoranta	5,000	-	1,500	3,500
Córas Iompar Éireann (b)	9,853	-	-	9,853
Department Agriculture & Food:
- FEOGA (Guarantee)	-	70,000	70,000	-
- FEOGA (Intervention)	-	-	-	-
ICC Bank plc (c)	701	-	701	-
Insurance Compensation Fund	132,000	-	-	132,000
Irish Steel Ltd	17,000	-	-	17,000
Local Loans Fund (d)	536,515	52	77,797	318,770
National Building Agency Ltd	554	-	43	511
Nitrigin Éireann Teoranta	2,150	-	2,150	-
Shannon Free Airport Development Co Ltd	10,572	-	206	10,366


Total	737,092	70,407	153,651	513,848





Notes:

(a) Four loans, totalling £956,297, were advanced between 1983 and 1986 to Bula Ltd. Interest due to 31 December, 1995 was
£7,403,609 i.e. pari passu with loans made to the Company via Bula Holdings Ltd by the private shareholders of Bula Ltd.

(b) Pending the enactment of legislation the amount is shown as outstanding, although in reality it is non-repayable.

(c) Relates to the recovery of moneys advanced to Foir Teo, the liability for which was transferred to ICC Bank plc under the
terms of the Foir Teoranta (Dissolution) Act, 1990.

(d) The figure given for loans outstanding at 31 December, 1995 has been reduced by £140,000,000 to reflect principal
securitised in 1995.

STATEMENT 1.8


Capital Investments: Repayable Advances



Body/Fund	Outstanding			Outstanding
	at	Advances	Advances	at
	31 December	issued	repaid	31 December
	1995	1996	1996	1996

	£000	£000	£000	£000

Bord Iascaigh Mhara	20,626	100	1,327	19,399
Bord na Móna	266	-	23	243
Bula Ltd (in receivership) (a)	956	-	-	956
Coillte Teoranta	3,500	-	-	3,500
Córas Iompar Éireann (b)	9,853	-	-	9,853
Department Agriculture & Food:
- FEOGA (Guarantee)	-	-	-	-
- FEOGA (Intervention)	-	-	-	-
Insurance Compensation Fund	132,000	-	-	132,000
Irish Steel Ltd (c)	17,000	-	-	-
Local Loans Fund (d)	318,770	50	33,736	235,084
National Building Agency Ltd	511	-	46	465
Shannon Free Airport Development Co Ltd	10,366	-	215	10,151


Total	513,848	150	35,347	411,651





Notes:

(a) Four loans, totalling £956,297, were advanced between 1983 and 1986 to Bula Ltd. Interest due to 31 December, 1996 was
£9,075,590 i.e. pari passu with loans made to the Company via Bula Holdings Ltd by the private shareholders of Bula Ltd.

(b) Pending the enactment of legislation the amount is shown as outstanding, although in reality it is non-repayable.

(c) Irish Steel Ltd was sold to Ispat International in 1996. Under the terms of the sale the Minister, with Dáil approval, wrote
off the outstanding £17,000,000.

(d) The figure given for loans outstanding at 31 December, 1996 has been reduced by £50,000,000 to reflect principal
securitised in 1996.

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