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IMO records financial surplus for 2017

By Dermot - 23rd Apr 2018

The figure compares to a surplus recorded for the previous year of €376,669.

However, the IMO pointed out that 2017 was a busy and challenging year where it “continued to support its consultant members in costly legal actions in the High Court against the HSE and the State in relation to breaches of the 2008 Consultant Common Contract”.

The Organisation’s total consolidated income for 2017 was €3,680,646, down slightly from the 2016 figure of €3,761,993. Total administrative expenses last year were €3,377,756.

Subscription fees for 2017 were €2,153,075, down from the 2016 figure of €2,212,589. This is despite IMO membership numbers increasing slightly from 4,912 in 2016 to 5,124 at the end of 2017. No breakdown on the type of membership, ie, GPs, NCHDs, trainees, etc, is given in the accounts.

The average number of IMO employees during 2017 was 41, the same as in 2016, while total staff wages for 2017, including pension costs, amounted to €1,995,603.

Stipends are paid to the head of each membership committee, which were €3,000 for NCHDs, Consultants, and Public and Community Health, while the Chair of the GP Committee Dr Padraig McGarry received €25,000 and the Executive Committee Chair Dr Matt Sadlier also received a stipend of €25,000.

The President during the period, Dr Ann Hogan, received a stipend of €35,000, while the Treasurer Dr Brian O’Doherty was in receipt of a stipend of €10,000. There were also stipends of €12,500 paid to two non-executive members.

The IMO’s total fixed assets, both financial and tangible, amounted to €2,968,997 at the end of 2017, but after liabilities including creditors were taken into account this amounted to €2,055,71. Investments include art works purchased by the Organisation at a carrying amount of €90,279 and shares held in the subsidiary company, Fitzserv Consultants Limited of €1,283.