The board of management at Irish Rural Link (IRL) has said it is “satisfied” with its 2022 financial statements, despite rural challenges.
The cooperative released its financial statements at its annual general meeting (AGM) yesterday (Monday, October 2).
At the end of the year, IRL had assets of €1,130,433 in 2022, compared to €1,080,894 in 2021 and liabilities of €312,149 compared to €355,380 the previous year.
IRL received income of €244,381, with administrative expenses of €182,325, leaving a surplus of €61,857, compared to €81,462 in 2021.
Chief executive officer (CEO) for Irish Rural Link, Seamus Boland said the results were “positive”, but that “the future of rural areas is facing enormous change”.
He said rural communities are facing challenges, such as management of carbon emissions, water courses, and air pollution.
He added that farmers are facing “massive changes”.
“Many feel unfairly demonised by the constant messages that they are to blame for high emissions and then are told that they must take measures such as reducing stock numbers, use of fertilisers and a radical change in the general management of land,” Boland said.
“All of this will require considerable leadership, heavy investment into research and the availability of the necessary finance,” he added.
Irish Rural Link finance
For the second year in a row, IRL reported a deficit in funds from the National Rural Network (NRN) project, which acts as a network for farmers, agricultural advisors, rural communities and others interested in rural development.
The project, funded by the Department of Agriculture, Food and the Marine (DAFM), had a small deficit of €3,728, compared to a loss of €2,677 in 2021.
The main area of increase for expenses was in wages and salaries. In 2021, €141,784 was spent in the area, and the figure increased to €187,353 for 2022.
A total of €49,787 from the Department of Housing Local Government and Heritage was received for wetlands. Through expenses, IRL reported that it spent €45,732 of the total.
IRL received €27,716 from Leargas for the EU initiative RUBIZMO, which looks at what rural businesses need for success. In expenses, IRL spent €38,752, leaving a deficit.
The cooperation also had a deficit of €19,014 from the farm peat project funded by DAFM, compared to a surplus of €2,173 in 2021.
IRL received €31,483 from University College Dublin (UCD) for the waterlands project which began this year. Administrative expenses cost €25,143.
The CEO said that with ongoing environmental changes, rural Ireland will continue to “require considerable leadership, heavy investment into research and the availability of the necessary finance”.