THE GREEN PARTY / COMHAONTAS GLAS REPORTS AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2009

CONTENTS

PAGE

NATIONAL EXECUTIVE COl\1JvflTTEE AND OTHER INFORMATfON 3

CO-ORDINATOR'S REPORT 4

STATEMENT OF RE_SPONSIBILITIES OF NATIONAL EXECUTIVE

COMMITTEE 5

REPORT OF THE INDEPENDENT AUDITORS 6

STATEMENT OF FINANCIAL ACTNITIES 7

BALANCE SHEET 8

NOTES TO THE FINANCIAL STATEMENTS 9-11

,SUPPLEMENTARY INFORMATION 12-14

2

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 O'Caomhanaigh, General Secretary.

Martin Nolan, National Treasurer.

Andrew Byrne

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 Byrne Wallace,

88 Harcourt Street, Dublin 2.

PRINCIPAL BANKER Permanent TSB,

70 Grafton Street, Dublin 2.

3

THE GREEN PARTY / COMHAONTAS GLAS

CO-ORDINATOR'S REPORT

I am 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.

4

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 assets 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.

5

INDEPENDENT AUDITORS' REPORT

TO THE MEMBERS OF THE GREEN PARTY / COMHAONTAS GLAS

We have audited the fmancial statements of the Green Party / Comhaontas Glas for the year ended 31 December 2009 set out on pages 7 to 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 International Standards on Auditing (UK and Ireland).

We report to you our opinion as to whether the fmancial 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 fmancial 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 fmancial statements. It also includes an assessment of the significant estimates and judgements made by the National Executive Committee members in the preparation of the fmancial 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 free 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 our 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.

6

THE GREEN PARTY / COMHAONTAS GLAS

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2009

2009 2008
Notes € €
TOTAL INCOMING RESOURCES Sched. I 819,509 833,740
TOTAL RESOURCES EXPENDED Sched.II (889,329) (666,197)
NET (OUTGOING)IINCOMING
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

7

THE GREEN PARTY I COMRAONTAS GLAS

BALANCE SHEEr AS AT 31 DECEMBER 2009

2009 2008
Notes € €
TANGmLEJi'IXED ASSETS:
FIXTURES, nTTlNGS & EQ(JIPMENT 5 14,lll 24,983
CURRENT ASSETS:
STOCK~MERCHANDISE 300 750
DEBTORS- AND PREPAYMENTS 6 13,820 16,597
CASH AT B~ AND IN HAND 169,463 214,980.
183,583 232,327
CREDITORS
(Amounts falling due within one year)
CREDITORS AND ACCRUED EXPENSES '1 (40,220) (29,916)
NET CURRENT ASSETS 143,363 202,411
NET ASSETS 157,574 227,394
FUNi>F~ BY:
FUNDS 8 157,574 227t394
=-r=- The financial statements set Gmt Oil pages 7 to 11 were approved by the Finance SubCommittee on 6 March 201 0 and signed on its behalf by:

Andrew Murphy

National Coordinator

Martin Nolan

National Treasurer

a

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 government. 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.

9

THE GREEN PARTY / COMHAONTAS GLAS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2009

5. Tangible Fixed Assets

Cost:

At beginning of year Additions

At end of year

Accumulated Depreciation:

At beginning of year Charge for year

At end of year

Net Book Amount: 31 December 2009

Net Book Amount:

31 December 2008

Office Leasehold Total
Equipment, Improvement
Printer,
Software and
Furniture
€ € €
144,549 11,259 1551808
1,269 - 1,269
-
145,818 11,259 157,077 121,442 9:,383 130,825
10,165 1,876 12;041
131,607 11~259 142,8'66 14.211

14,211

23.107

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

Sundry debtors and Prepayments

2009 € 13,820

2008 € 16,597

10

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
€ €
Accrued 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 1-65,704 61,690 227,394
Net movement during the year 32,641 (102,461) (69,820)
Funds at end of year 198,345 (401721) 1511514 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 9,217
347,360 £3311320 11

THE GREEN PARTY I COMHAONTAS GLAS

Supplementary Information

(Not covered by the Independent Auditors' Report)

12

THE GREEN PARTY I COMHAONTAS GLAS

SCHEDULES TO THE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2009

SCHEDULE I

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

2009 2008
€ €
384,209 371,893
375,621 370,592
46,552 46,552
6,636 24,391
6,106 1.932
260 1:15
125 65
19,00'0
819.;509 833,74.0 TOTAL INCOMING RESOURCES

13

THE GREEN PARTY / COMHAONTAS GLAS

SCHEDULES TO THE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2009

SCHEDULE II
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 CHARGE 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
OFFICE SUPPLIES, PRINTING & POST AGE 17,011 29,177
DEPRECIATION 12,041 12,164
LISBON AGREEMENT 9,375
MISCELLANEOUS 8,358 9,679
ADVERTISING 7,605 8,762
REP AIRS, MAINTENANCE AND CLEANING 7,524 6,741
BOOKKEEPING & PAYROLL ACCOUNTING 7,387 6,041
STAFF TRAINING & DEVELOPMENT 6,370 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 2,527 3,757
INSURANCE 2,508 3,785
AUDIT FEES 1,620 2,430
BANK INTEREST & CHARGES 1,219 1,045
ROOM HIRE 722 2,863
GENERAL AFFILIATION FEES 684 385
WOMENS GROUP - ANNUAL SUBSCRIPTIONS NWCI 500 500
LEGAL FEES 321 520
NEWSPAPERS 290 865
TAXON DEPOSIT INTEREST 53 43
PARTY STRUCTURES REVIEW 10,000
REBRANDING COSTS - 7,502
-
TOTAL OUTGOING RESOURCES 889,329 666,197 14