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300,000 public servants look set to get €1,000 pay rise
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Teachers Remuneration
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Covid-19 has led to Trinity College Dublin reporting a deficit of â¬25.6 million for the 2019/20 financial year despite an increase in income from State grants and academic fees. The shortfall marks a major reversal in the universityâs financial position.
The latest financial statement published by the university shows it has recorded a deficit for the first time in three years after posting a surplus of â¬5.7 million in 2018/19 and â¬0.9 million the previous year.
Total income at TCD dropped by â¬7.6 million to â¬389.1 million â a reduction of 0.9 per cent on 2018/19 revenue â although academic fees generated an extra â¬10.6 million to â¬163.7 million on the back of student numbers growing by 2.9 per cent to 18,941.
The number of staff at Trinity College Dublin earning over â¬300,000 per annum more than doubled last year to 13.
That is according to the 2020 annual report for the college which shows that TCDâs operating losses also more than doubled to â¬16.37 million as it grappled with the impact of the Covid-19 pandemic.
The report shows that the collegeâs revenues decreased by â¬7.6 million from â¬404.15 million to â¬396.7 million in the 12 months to the end of September 2020 âreflecting the significant impact of Covid-19 on Trinityâs non-exchequer income streamsâ.
In his report, chief financial officer Peter Reynolds also states that âwe are confident that Trinity is well positioned to emerge strongly from this crisis and to continue to deliver on our strategic objectivesâ.
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