20. National Development Finance Agency
NTMA Administration Account
With effect from 27 January 2015, the NTMA, acting as the National Development Finance Agency in accordance with Part 4 of the National Treasury Management Agency (Amendment) Act 2014, performed financing and advisory functions in relation to specific public investment projects. The costs of these services were discharged by the NTMA and reimbursed by the State Authority to which the projects relate.
Prior to its dissolution on 27 January 2015 the National Development Finance Agency was a separate legislative body and reported such expenditure separately in the NDFA Annual Report. The disclosures presented are in line with the statutory reporting dates.
In the period the NTMA acting as the NDFA incurred the following costs:
| 27 Jan 15 to 31 Dec 15 €'000 |
01 Jan 14 to 26 Jan 15 €'000 |
|
|---|---|---|
| Consultancy fees | 1,909 | 4,160 |
| Legal fees | 950 | 787 |
| Other project expenses | 9 | 6 |
| 2,868 | 4,953 |
The amount receivable from State Authorities at the reporting date is as follows:
| 31 Dec 15 €'000 |
26 Jan 15 €'000 |
|
|---|---|---|
| Department of Justice | 183 | 80 |
| Health Service Executive | 84 | 113 |
| Department of Education | 59 | 477 |
| Grangegorman Development Agency | 33 | 200 |
| National Roads Authority | - | 98 |
| 359 | 968 |
Reimbursed funds are remitted to the Post Office Savings Bank Fund in accordance with section 30 of the NTMA Act 2014. At 31 December 2015, €470k is owing to the Post Office Savings Bank Fund.
The NDFA held Cash at Bank at 31 December 2015 amounting to €114k (26 January 2015: €761k). This is not included in the cash at bank balance as reflected on the statement of financial position.
The expenditure and reimbursement above is not included in the Statement of Income and Expenditure or Statement of Financial Position on pages 82 and 83
In September 2015, the Capital Plan 2016 – 2021 announced that the newly established Transport Infrastructure Ireland (TII) will be strengthened by the transfer into it of the NDFA’s PPP procurement and project management functions. The NTMA is currently engaged with the relevant Government Departments and TII in progressing the transfer.