Dáil Éireann Debate, Tuesday - 13 February 2024
542. Deputy Kathleen Funchion asked the Minister for Children, Equality, Disability, Integration and Youth to provide an update on what changes his Department has made to charter of accounts; if his Department is still requiring accounts to be signed off by a chartered accountant; if he is aware that a number of services are finding it impossible to engage chartered accountants to do this work; and if he will make a statement on the matter. [6522/24]
View answerProviders that had an active Core Funding Contract during the 2022/2023 Programme Year must provide validated Financial Returns as per their Core Funding Partner Service Funding Agreement.
Following constructive engagement with members and nominees of the Early Learning and Childcare Stakeholder Forum (ELCSF), including Childhood Services Ireland (CSI), Childminding Ireland, Early Childhood Ireland (ECI), the Association of Childhood Professionals Ireland (ACPI), the Federation of Early Childhood Providers (FECP), the National Childhood Network (NCN), the National Community Childcare Forum and Seas Suas, my officials have now finalised transitional arrangements for financial reporting to cover year 1 and year 2 of the scheme.
Financial reporting requirements in this transitional phase have been significantly simplified and streamlined. Specifically, in this transitional phase, the financial reporting requirement is for an Income and Expenditure report based on a significantly reduced set of Core Funding Chart of Accounts nominal codes, the sector has already been provided with the templates and guidance documents in relation to this.
This Income and Expenditure Report will need to be submitted onto an online reporting portal by either a qualified accountant from a registered practice or a registered professional; * ICAI, ACCA , CPA, AIA, CIMA, CIPFA, by 22 March 2024.
My Department will be providing guidance to Partner Services in the coming weeks on how to access and upload the completed Income and Expenditure report. All early learning and childcare Department income information will be provided to the Partner Services through the financial reporting portal in the coming weeks.
My Department are also working on other supports for providers in preparing and submitting these returns, including training supports and targeted financial supports for those that may need it.
Officials from my Department will continue to engage with members and nominees of the ELCSF on this and have committed to continued engagement on future development to the financial reporting requirement under Core Funding from year 3 of the scheme.
* Please see list below:
ICAI - Institute of Chartered Accountants in Ireland
ACCA - Association of Chartered Certified Accountants
CPA - Institute of Certified Public Accountants in Ireland
AIA - Association of International Accountants
CIMA - Chartered Institute of Management Accountants
CIPFA - Chartered Institute of Public Finance & Accountancy
