Oireachtas Joint and Select Committees
Thursday, 24 January 2013
Public Accounts Committee
National Transport Authority - Financial Statement 2011
11:10 am
Mr. Gerry Murphy:
No, we are not free to spend it all. Each year we keep to a minimum the amount that we dip into the surplus. The figure was €1.9 million in 2011 and in these accounts, for 2012, the corresponding figure is €2.3 million. Projecting forward, next year it will be €3.5 million because of a series of increased costs in taxi regulation and a probable drop in industry income. The surplus is gradually diminishing in the order of €2 million or €3 million per year, but it should be able to take us for a number of years and cover administrative expenses. For example, there is an under-provision for our salaries and general costs.