63
SCIENCE FOUNDATION IRELAND ANNUAL REPORT 2015
Notes to the Accounts
For the year ended 31 December 2015
(b) Grant Commitments
2015
€ ’000
Outstanding Grant Commitments as at 1 January
Grants Approved during the year
De-commitments during the year
Grant Payments made in the year - Gross
Amounts received from Teagasc for Co-Funding of two IVP awards
made in 2014 - See Note 2(a)
Amounts received from Irish Cancer Society for Co Funding
460,862
131,432
(3,088)
(162,706)
2014
€ ’000
343,241
273,950
(2,785)
(153,905)
186
142
361
-
Outstanding Commitments as at 31 December
426,828
460,862
10 Receivables
2015
2014
€ ’000
€ ’000
188
535
General Debtors
Prepayments
150
303
Total
723
453
11 Payables
2015
2014
€ ’000
€ ’000
188
187
55
General Creditors
Accruals
Interagency Balance - IDA*
175
131
70
Total
430
376
* Interagency Balances relate to the balances owed by Science Foundation Ireland to IDA at 31 December 2015, being the
difference between the amount of money paid to IDA by Science Foundation Ireland and the actual money spent by IDA on
behalf of Science Foundation Ireland.
12 Commitments under Operating Leases
Science Foundation Ireland is a tenant of IDA (formerly under Forfás tenancy) in Wilton Park House and currently has no
commitments under operating leases on the building, but pays rent to IDA as a contribution to the lease costs incurred by
IDA.
13 Taxation
Section 227 of the Taxes Consolidation Act, 1997, provides an exemption from tax on the income of non-commercial state
bodies except where interest is subject to tax at source (e.g. DIRT). The net amount of such income is credited to the
Income & Expenditure Account.
SFI is liable to employer taxes in Ireland and complies with related withholding, reporting and payment obligations.