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Concerns raised regarding NAGP finances

By Mindo - 20th Feb 2018

The statements to the end of 31 March 2017 reveal that NAGP income totalled €835,000 for the 15-month period. This compares to administrative expenses of €895,000; equalling an overspend of around €60,000.

But it is understood that the income includes almost €190,000 in debtors, largely made up of unpaid membership fees, which would mean that actual income was €645,000.

An overall deficit of €33,000 was recorded in the NAGP’s abridged financial statements for the period.

Staff pay at the NAGP over a 15-month period was more than €300,000, according to its most recent financial statements. Abridged financial statements for the NAGP from 1 January 2016 to the end of March 2017 reveal that €303,000 was spent on wages, compared to €28,000 in 2015. While there have been a number of staff changes over that period, an average of three staff were employed. At the 2016 AGM, NAGP CEO Mr Chris Goodey was recorded as receiving a salary of €120,000 for that financial year, but at the 2017 AGM, his salary figure was not detailed in the published accounts.

Some senior NAGP members are understood to have voiced concern about the figures.

This year’s NAGP AGM takes place next week in Cork. Mr Goodey explained that as the NAGP’s financial year does not end until 31 March, this means that the Association “will not be in a position to provide finalised accounts at the AGM”, he said. 

“We had to reconfigure our dates in order to avoid clashes with other organisations — this issue will be dealt with at the AGM,” Mr Goodey explained. He later told the <strong><em>Medical Independent </em></strong>(<strong><em>MI</em></strong>) that the 2017/18 financial accounts might be discussed at a “separate EGM of members”.

 <strong><em>MI</em></strong> asked Mr Goodey whether or not the Association has succeeded in eliminating its net deficit.

“It’s been a challenging year, as a lot of NAGP resources have been allocated to legal and industrial relations issues on behalf of members, but we have reduced our costs in other areas, which has allowed us to manage our finances accordingly,” Mr Goodey stated in response.

Information provided to this publication shows that last year, the NAGP owed Revenue more than €60,000 in VAT, PAYE and PRSI. Mr Goodey stated that the NAGP does not currently owe money to the Revenue.<strong></strong>

“No, it doesn’t but for the record, the NAGP is a private company, limited by guarantee and only members will be provided with the details of our finances, that is apart from information we are obliged to provide to the CRO [Companies Registration Office],” Mr Goodey said.

Meanwhile, information obtained by <strong><em>MI</em></strong> shows that the NAGP received more than €37,000 in sponsorship and donations from pharmaceutical companies in 2015.

This rose to more than €60,000 in 2016, with payments described as donations, sponsorship, travel and accommodation, and service and consultancy fees being made to the Association by nine major pharmaceutical companies.

<strong><em>See NAGP AGM preview feature on page 12</em></strong>

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