Committee Reports::Interim and Final Report - Appropriation Accounts 1978 - 1979::17 November, 1983::Appendix


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APPENDIX 11

OIREACHTAS RESTAURANT — LOSSES

1979 Appropriation A/C

Subhead H. — Expenses of the Restaurant

The audited accounts for the year ended 31 December 1979 show an accumulated loss of £175,038. This was made up of a trading loss of £128,527 for the year (compared with £146,000 forecast in the auditors special report) and an opening deficit of £46,511 (financed by a bank overdraft of £50,000).

The deficit was covered by an initial grant-in-aid of £80,000 and a supplementary grant of £131,000.

The trading loss for 1979 is explained as follows:

Expenditure
(a) Costs of Purchases (food and bar stocks)	£117,452
(b) Salaries, wages and pensions; Management and accountancy fees; Bank interest and bank charges; Laundry, cleaning and miscellaneous expenses	£144,498
	£261,950
Revenue
Sales (Restaurant and Bar)	£133,423
Excess of expenditure over Revenue.
(loss for year)		£128,527

The opening deficit of £46,511 carried forward from 1978 represents the trading losses for that and previous years where the Grant-in-Aid provided was insufficient to cover such losses in full.

K. J. DERMODY

Oifigeach Pearsanta

Oifig Thithe an Oireachtais

24 Tanáir, 1983