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

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