Teagasc spent more than €2.2 million last year in consultancy costs and a further €127,000 on legal costs and settlements, according to its financial accounts for 2022.

The state agency’s spending on “legal costs, settlements and conciliation and arbitration proceedings relating to contracts with third parties” increased by €27,000 year-on-year compared to corresponding costs for 2021.

The latest accounts detail that Teagasc paid out €98,000 in settlements which related to 14 cases.

They also outline that total procurement-related spending was €69.9 million last year, but the state agency highlighted that it had found that “non-compliant purchase orders” totalled €497,566 in 2022.

“Of this value deemed non-compliant, €293,448 resulted from expired contracts that have since been tendered appropriately and new contracts implemented.

“Notwithstanding that these procurements were non-compliant, Teagasc is satisfied that good value for money was achieved,” it stated in the accounts.

Overall, Teagasc closed its latest financial year with an operating surplus of more than €8.8 million.

The agency also had cash and cash equivalents of more than €43 million by December 31, 2023.

Teagasc income

The agency’s total income last year rose by more than €30,000 to €224.5 million – the majority of this income coming from Oireachtas grants worth close to €160,000.

It also received EU funding worth more than €5 million in 2022.

The latest accounts show Teagasc grew its total operational income – which included €15.8 million in advisory service fees and €5.6 million in course fee income – to more than €48.9 million last year.

Teagasc Expenditure

The biggest cost for the agency last year was staff costs – including pay, which totalled €94 million in 2022 and general operating costs, which increased to more than €50.4 million.

According to the accounts the biggest general operating expense was maintenance and repairs which totalled €11.4 million in 2022.

The accounts also detail that the cost of livestock purchases by Teagasc increased to €816,000 last year while the agency also spent €834,000 on staff training and more than €43 million on retirement benefits .

The average number of staff employed by the agency in 2022 was 1,360. Out of these, 856 were classified as “professional” while 108 were classified as “farm/domestic”.

Three Teagasc employees earned between €150,000 to €159,999 while one employee earned between €170,000 to €179,999 last year.

The latest accounts detail that the director of Teagasc received a total pay packet in 2022 of €178,000.

They also show that in 2022, 151 staff members received overtime payments and the highest aggregate amount paid to an individual was €28,393.

According to the latest set of accounts Teagasc has 55 offices, colleges and centres. Out of these 50 are owned by the agency, but five are rented.

Investments and assets

The state agency’s current assets are valued in the 2022 accounts at €83.4 million.

Teagasc has investment holdings in both Glanbia plc and Kerry plc and also nine co-op’s including Tirlán, Kerry, Dairygold and Carbery.

The total value of these investments is estimated in the accounts to be worth €648,000.

Teagasc completed the sale of its land and buildings in Kinsealy, Co. Dublin to the Department of Education and Science for €4.4 million in 2021.

The €3.4 million of the sale proceeds was transferred to the Exchequer.

By the close of last year Teagasc did not have any assets held for sale. Lands at Kinsealy east, Co. Dublin, which had been held for sale in the previous year, have been identified for acquisition by the Land Development Agency and withdrawn from the market.