THE GREEN PARTY/COMHAONTAS GLAS. REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2009THE GREEN PARTY / COMHAONTAS GLAS REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2009 CONTENTS PAGE NATIONAL EXECUTIVE COMMITTEE AND OTHER INFORMATION 3 CO-ORDINATOR’S REPORT 4 STATEMENT OF RESPONSIBILITIES OF NATIONAL EXECUTIVE COMMITTEE 5 REPORT OF THE INDEPENDENT AUDITORS 6 STATEMENT OF FINANCIAL ACTIVITIES 7 BALANCE SHEET 8 NOTES TO THE FINANCIAL STATEMENTS, ol SUPPLEMENTARY INFORMATION 12-14THE GREEN PARTY / COMHAONTAS GLAS, NATIONAL EXECUTIVE COMMITTEE AND OTHER INFORMATION NATIONAL EXECUTIVE COMMITTEE Andrew Murphy, National Coordinator. Elizabeth Davidson, Deputy National Coordinator. John Gormley, T.D., Party Leader, Minister for the Environment, Heritage and Local Government. Mary White, T.D., Party Deputy Leader. Dan Boyle, Senator, Deputy Leader Seanad Eireann, Party Chairman. Colm 0°Caomhanaigh, General Secretary. Martin Nolan, National Treasurer. ‘Andrew Byme Cllr. Cadogan Enright Patricia Forde-Brennan Sara Garbett Karly Greene Edel Hackett Phil Kearney Stiofan Nutty Barra Roantree GENERAL SECRETARY Colm O’Caomhanaigh AUDITORS Mark Glynn & Co., Certified Public Accountants and Registered Auditors, Kit House, ‘Magna Business Park, City West, Dublin 24. SOLICITORS Byme Wallace, 88 Harcourt Street, Dublin 2. PRINCIPAL BANKER Permanent TSB, 70 Grafton Street, Dublin 2.THE GREEN PARTY / COMHAONTAS GLAS CO-ORDINATOR’S REPORT Tam pleased to present the annual report together with the audited financial statements of the Green Party / Comhaontas Glas for the year ended 31 December 2009. Principal activities during the year The principal activity of the Party is to continue to advance its aims and objectives as set out in the Party’s Mission Statement and Strategic plan Results for the year Income for 2009 amounted to €819,509 (2008: €833,740). The Party recorded net outgoing resources for the year of €69,820 and together with the surplus brought forward from the previous period of €227,394 leaves a surplus for carry forward to 2010 of €157,574. National Executive Committee ‘The current list of committee members is set on page 3. Auditors Lea Wardrop & Company, Chartered Accountants and Registered Auditors, resigned during the period as the firm deregistered as auditors. Mark Glynn & Co. Certified Public Accountants and Registered Auditors were appointed as auditors and have offered themselves for re-election. Andrew Murphy (National Co-ordinator) 6 March 2010.THE GREEN PARTY / COMHAONTAS GLAS, STATEMENT OF RESPONSIBILITIES OF NATIONAL EXECUTIVE COMMITTEE The National Executive Committee is required to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Party and of the financial activities of the party for that period. In preparing those financial statements, the National Executive Committee is required to : select suitable accounting policies and then apply them consistently; . make judgements and estimates that are reasonable and prudent; . prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Party will continue in operation, ‘The National Executive Committee is responsible for keeping proper books of account which disclose with reasonable accuracy at any time the financial position of the Party. It is also responsible for safeguarding the asscts of the Party and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ‘Signed on behalf of the National Executive Committee: Andrew Murphy (National Co-ordinator) Martin Nolan (National Treasurer) 6 March 2010.INDEPENDENT AUDITORS’ REPORT ‘TO THE MEMBERS OF THE GREEN PARTY / COMHAONTAS GLAS, ‘We have audited the financial statements of the Green Party / Comhaontas Glas for the year ended 31 December 2009 set out on pages 7 fo 11. These financial statements have been prepared under the historical cost convention and the accounting policies set out on page 9 ‘This report is made solely to the members of the Party, as a body. Our audit work has been undertaken so that we might state to Party members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Party and the Party members as a body, for our audit work, for this report, or for the opinions we have formed. Respective Responsibilities of the National Executive Committee and Auditors As described on page 5 the Party's National Executive Committee is responsible for the preparation of the financial statements in accordance with applicable law and Accounting Standards issued by the Accounting Standards Board and published by the Institute of Chartered Accountants in Ireland (Generally Accepted Accounting Practice). ‘Our responsibility is to audit the financial statements in accordance with relevant legal and regulatory requirements and Intemational Standards on Auditing (UK and Ireland). ‘We report to you our opinion as to whether the financial statements give a true and fair view and are properly prepared. We also report to you whether in our opinion proper books of account have been kept by the Party. In addition, we state whether we have obtained all the information and explanations necessary for the purposes of our audit and whether the Party's balance sheet and statement of financial ‘activities are in agreement with the books of account. Basis of opinion We conducted our audit in accordance with International Standards on Auditing (UK and Ireland) issued by the Auditing Practices Board. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes an assessment of the significant estimates and judgements made by the National Executive Committee members in the preparation of the financial statements, and of whether the accounting policies are appropriate to the Party's circumstances, consistently applied and adequately disclosed, We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to give reasonable assurance that the financial statements are fice from ‘material misstatement, whether caused by fraud or other irregularity or error. In forming our opinion we also evaluated the overall adequacy of the presentation of information in the financial statements. Opinion In our opinion the financial statements give a true and fair view of the state of the Party's affairs as at 31 December 2009 and of its net outgoing resources for the year then ended, We have obtained all the information and explanations that we considered necessary for the purposes of cour audit, In our opinion, proper books of account have been kept by the Party. The financial statements are in agreement with the books of account. Mark Glynn & Co., Certified Public Accountants and Registered Auditors, Kit House, ‘Magna Business Park, City West, Dublin 24 6 March 2010.THE GREEN PARTY / COMHAONTAS GLAS STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2009 2009 2008 Notes € € TOTAL INCOMING RESOURCES Sched. 1 819,509 833,740, TOTAL RESOURCES EXPENDED Sched.II (889,329) (666,197) NET (OUTGOINGYINCOMING RESOURCES FOR THE YEAR (69,820) 167,543 FUNDS BROUGHT FORWARD 227,394 59,851 FUNDS CARRIED FORWARD 157,574 227,394 There were no recognised gains or losses other than those included in the Statement of financial activities. The financial statements set out on pages 7 toll were approved by the National Executive Committee on 6 March 2010 and signed on its behalf by: ‘Andrew Murphy ‘National Coordinator Martin Nolan National Treasurer‘THE GREEN PARTY / COMBAONTAS GLAS BALANCE SHEET AS AT 31 DECEMBER 2009 TANGIBLE FIXED ASSETS: FIXTURES, FITTINGS & EQUIPMENT CURRENT ASSETS: STOCK-MERCHANDISE DEBTORS AND PREPAYMENTS CASH AT BANK AND IN HAND CREDITORS (Amounts falling due within one year) CREDITORS AND ACCRUED EXPENSES, NET CURRENT ASSETS NET ASSETS FUNDED BY: FUNDS 2009 2008 Notes € € 5 14,211 24,983 300 750 6 13,820 16,597 169,463 214,980 183,583, 232,327 7 (40,220) (29,916) 143,363, 202,411 157,574 227,394 8 157,574 227,394 The financial statements set out on pages 7 toll were approved by the Finance Sub- Committee on 6 March 2010 and signed on its behalf by: ‘Andrew Murphy Martin Nolan National Coordinator National TreasurerTHE GREEN PARTY / COMHAONTAS GLAS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2009 1, Accounting Policies Basis of Preparation The financial statements, which are prepared in accordance with generally accepted accounting principles, include the financial transactions of the Party’s Head Office only. 2. Income Income represents the contributions from Elected Representatives, Government subventions and grants, Party Leader Allowance, fundraising & events, voluntary donations, members” subscriptions and interest income. The income from Government subventions and the Party Leader Allowance have certain. ‘general restrictions in respect of the types of expenditure that may be covered by those subventions. FUND ACCOUNTING The following are the categories of funds maintained: Restricted Funds: Restricted funds represent government subventions and the Party Leader allowance which can only be used for the particular purposes specified by the goverment. Such purposes are within the overall objectives of the Party. Unrestricted Funds: General funds represent amounts which are expendable at the discretion of the National Executive Committee, in furtherance of the objectives of the Party. 3. Employees Apart from the full-time / part-time employees many activities of the Party are carried out on a voluntary basis. 4. Taxation Tax is payable by deduction at source on deposit interest income.THE GREEN PARTY / COMHAONTAS GLAS NOTES TO THE FINANCIAL STATED 31 DECEMBER 2009 5, Tangible Fixed Assets Office Leasehold Equipment, Improvement Printer, Software and Furniture Cost: € € At beginning of year 144,549 11,259 Additions 1,269 $ At end of year 145,818 11,259 Accumulated Depreciation: At beginning of year 121,442, 9,383 Charge for year 10.165, 1,876 Atend of year 131,607 11,259 Net Book Amount: 31 December 2009 14.211 : Net Book Amount: 31 December 2008 23,107 1,876 ENTS FOR THE YEAR ENDED Total € 155,808 1,269 14211 24,983 Tangible fixed assets are recorded at cost and are depreciated on a straight line basis over their estimated useful lives on the following basis: Office Equipment, Printer, Software, Furniture - 20% per annum straight line Leasehold Improvements - 20% per annum straight line 6. Debtors and Prepayments 2009 Sundry debtors and Prepayments 13,820 2008 16,597THE GREEN PARTY / COMHAONTAS NOTES TO THE FINANCIALS STATEMENTS FOR THE YEAR ENDED. 31 DECEMBER 2009 7. Creditors and Accrued Expenses (Amounts falling due within one year) 2008 2008 € € Acerued Expenses 10,220 29,916 Short term loan - unsecured 30,000 - 40,220 29,916 8, Funds Restricted General Total Funds Funds € € € Funds at beginning of year 165,704 61,690 227,394 Net movement during the year 32.641 _(102,461 (69.820) Funds at end of year 198,345 (40,771) 157,574 The restricted funds are comprised principally of current assets. 9. Pension Scheme ‘The party operates a voluntary contributory defined contribution insured pension scheme for employees. 10, Lease Commitments The party has a premises rental lease with a total current annual rent of €32,000 (Subject to periodic review) excluding service charges. 11. Employees and Remuneration ‘The average number of persons employed by the Party in the financial year was 8 (2008:10). Total staff costs were comprised of the following: 2009 2008 € € Salaries including employer PRSI 341,030 322,103 Employer pension contribution 6.330 9217 347,360 €331,320 aTHE GREEN PARTY / COMHAONTAS GLAS Supplementary Information (Not covered by the Independent Auditors’ Report) a2THE GREEN PARTY / COMHAONTAS GLAS SCHEDULES TO THE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2009 SCHEDULE 1 INCOMING RESOURCES PARTY LEADER ALLOWANCE, ELECTORAL ACT ALLOWANCE ‘TDS/SENATORS SALARY CONTRIBUTIONS GENERAL INCOME FROM FUNDRAISING & EVENTS GENERAL DONATIONS. DEPOSIT INTEREST MEMBERSHIP SUBSCRIPTIONS (National Office) GRANT ~ FORUM ON EUROPE TOTAL INCOMING RESOURCES 2009 384,209 375,621 46,552 6,636 6,106 260 128 819,509 2008 € 371,893 370,592 46,552 24,391 1,032 215 65 19,000 833,740 13THE GREEN PARTY / COMHAONTAS GLAS SCHEDULES TO THE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2009 SCHEDULE I OUTGOING RESOURCES 2009 2008 € € PAYROLL AND PENSION COSTS 347,360 331,320 ELECTION COSTS - Local, European, Bye-election. 150,046 = CONVENTIONS & CONFERENCES 98,492 76,406 COMMUNICATIONS & REGIONAL DEVELOPMENT 58,432 20,241 RENT, RATES & SERVICE CHARGI 45,329 40,753 ‘MEDIA RELATIONS & PRESS MONITORING 24,782 26,342 TRAVELLING & ACCOMMODATION 23,426 15,685 ‘TELEPHONE 21,433, 18,512 POLICY RESEARCH & DEVELOPMENT 18,043, 231 CE SUPPLIES, PRINTING & POSTAGE 17011 29,177 DEPRECIATION 12,041 12,164 LISBON AGREEMENT 9,375 : MISCELLANEOUS 8,388 9,679 ADVERTISING 7,605 8,762 REPAIRS, MAINTENANCE AND CLEANING 7524 6741 BOOKKEEPING & PAYROLL ACCOUNTING 7387 6,041 STAFF TRAINING & DEVELOPMENT 6370 6,057 ‘YOUTH ACTIVITIES ~ YOUNG GREENS 5,061 4,984 AFFILIATION FEES - EUROPEAN FEDERATION 4,636 3,050 INTERNET / WEB SITE AND SOFTWARE 3,631 1,336 MERCHANDISE 2,543 15,021 PERSONNEL & RECRUITMENT 2527 3,157 INSURANCE 2,508 3,785 ‘AUDIT FEES 1,620 2,430 BANK INTEREST & CHARGES 1219 1,045 ROOM HIRE. ™m 2863 GENBRAL AFFILIATION FEES 684 385 WOMENS GROUP ANNUAL SUBSCRIPTIONS NWCI 500 500 LEGAL FEES 321 520 ‘NEWSPAPERS 290 865 ‘TAX ON DEPOSIT INTEREST 33 8 PARTY STRUCTURES REVIEW - 10,000 REBRANDING COSTS < 1,502 TOTAL OUTGOING RESOURCE: 889,329 666,197 14