IFA's finances still in the red since €1.4m pay scandal legal case
Accounts published by the Irish Farmers Association show the organisation’s finances continue to be in the red since a high profile pay scandal rocked the organisation in 2015.
The organisation's finances further hit in 2018 following a €1.4m legal settlement with its former General Secretary Pat Smith.
The IFA Accounts to the year ended March 31, 2018, showed a slight increase in income for the year at €16.252m up €53,000 on 2017. However, the organisation's income has declined substantially from over €20m prior to the scandal.
IFA staff costs totalled €5.385m for the year, with remuneration for the current Director General, Damian McDonald totalling €213,152.
Total IFA Executive Management compensation which comprises of three individuals was €563,826, while the average remuneration for the top 15 staff in the organisation, excluding Executive Management, was €131,539.
The 2018 accounts also show the IFA President, Joe Healy's gross salary was €120,000 for the year, however, the net amount charged to the organisation was €68,000 after Director’s fees from outside bodies were excluded under IFA rules.
The net amount charged to the IFA for the remuneration of its Deputy President Richard Kennedy's was €13,000 after Director’s fees from outside bodies were deducted from his gross salary of €35,000.
Notably, the accounts show a new pay agreement was reached with top 15 staff in the organisation, excluding Executive Management during 2017 and was implemented during this financial year. This involved pay reductions for these staff from an average of over €103,000 to €99,000. As part of the arrangement, the staff benefited from what the organisation called 'once-off legacy adjustment' of €7,186 on average.