Ms Anna Shakespeare:

Deputy O'Reilly referred to reckless trading. Many members of the National Federation of Voluntary Bodies have experienced emphasis of matter being noted in their annual financial statements and conversations being held at board meetings about going concern and trading recklessly. My organisation has a €101 million turnover, a €7.2 million accumulated deficit and an in-year operating deficit of €3.2 million. Our board had a serious discussion on the issue of going concern and trading recklessly and whether that would become a reality in 2019. To manage that deficit cash is forwarded during the year on a drip-feed, monthly basis. To add to Ms Keogh's remarks on the withholding of 20% of funding when a board member does not sign a service arrangement it clearly indicates that the organisation cannot operate with the allocation that has been received. That is the lived reality of our members, of which there are 59 accounting for expenditure of €1.3 billion across Ireland. We do not believe it is possible to sustain this any further.