The financial status of the Irish Farmers’ Association (IFA) was laid bare today during the organisation’s 64th Annual General Meeting (AGM) which is taking place at the Irish Farm Centre.
Regarding remuneration of key management personnel the gross salary of €120,000 to the president has increased from €111,846 in 2017, while the deputy president secured an income of €35,000 up from €33,295 the previous year.
The salary of the director general stood at €185,350 in 2018 up from €46,337 in 2017, while executive management salary was €458,260 indicating a slight increase on 2017 figures when the salary stood at €479,071. The national executive received €306,840 up from €290,040 in 2017.
The organisation’s accounts for the year ending March 2018 indicate an income of €16,252,849 alongside expenditure amounting to €17,527,079 with an operational deficit of €1,509,612.
Fixed assets amounted to €17,968,830 while current assets were worth €6,118,732. The amount owing to creditors was €6,076,992.
In relation to the consolidated statement of changes in equity, the IFA’s books show an accumulated surplus of €15,847,196 while consolidated statement of cash flows indicates €2,339,369 net cash inflow from operating activities and €4,458,864 in cash and cash equivalents at the end of year.
Meanwhile, income included broadband and phone service sales (€6,381,334); affiliation fees (€5,662,854); European involvement fund levies (€3,196,378); trust fund contributions (€330,000); investment dividend income (€157,753); and other income (€524,530).
Expenditure
On the expenditure side IFA Telecom’s expenses stood at €5,896,673; total staff costs were €5,385,689; voluntary costs (€1,181,223); premises (€477,616); communications (€396,198); research (€20,157); public relations (€484,085); professional fees (€1,415,280); affiliation fees (€108,595); financial charges (€301,583); foreign travel (€43,276); Brussels office (€503,936); membership recruitment (€379,100); membership promotion (€299,655); other overheads (€22,088); and extraordinary expenditure (€611,925).
Speaking about the organisation’s financial situation during the AGM today, IFA president Joe Healy said the three-year plan to restore finances – introduced last year – “was on track”.
We need to continue to build our income and control our costs.
Healy added: “We have a strong membership base of over 72,000 farmers and we need to encourage them to take on leadership roles in IFA; as part of this we must be open to new thinking and fresh ideas.”
He went on to say the organisation’s Diversity Committee would be coming back this year with recommendations that “will challenge us”.
“That is how it should be; the scale of work IFA undertakes could not be done without the commitment and dedication of farmers at all levels of the organisation; I want to recognise, in particular, those officers on council who are completing their terms. I want to thank you sincerely for your leadership, dedication and hard work. It is easy to talk the talk, but you have walked the walk.”