21. National Development Finance Agency
The National Development Finance Agency in accordance with Part 4 of the National Treasury Management Agency (Amendment) Act 2014, performs 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.
The NTMA acting as the NDFA incurred the following reimbursable costs:
| 1-Jan-16 to 31-Dec-16 €'000 |
27-Jan-15 to 31-Dec-15 €'000 |
|
|---|---|---|
| Consultancy fees | 1,606 | 1,909 |
| Legal fees | 522 | 950 |
| Other project expenses | - | 9 |
| 2,128 | 2,868 |
The amount receivable from State Authorities at the reporting date is as follows:
| 2016 €'000 |
2015 €'000 |
|
|---|---|---|
| Department of Education | 424 | 59 |
| Department of Justice | 12 | 183 |
| Grangegorman Development Agency | - | 33 |
| Health Service Executive | 125 | 84 |
| Department of Housing, Planning, Community and Local Government |
60 | - |
| 621 | 359 |
Reimbursed funds are remitted to the Post Office Savings Bank Fund in accordance with section 30 of the NTMA Act 2014. At 31 December 2016, €2.8m (2015: €0.5m) is owing to the Post Office Savings Bank Fund.
The NTMA, acting as the NDFA, held Cash at Bank at 31 December 2016 amounting to €2.3m (2015: €0.1m). 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 78 and 79.