7. Central fund
NTMA Administration Account
The Central Fund operates on a receipts and payments basis whereas these financial statements have been prepared on an accruals basis. The following table sets out the reconciling items:
| Note | 2015 €'000 |
2014 €'000 |
|
|---|---|---|---|
| Opening balance at 1 January | 13 | (1,092) | 5,442 |
| Net amounts received from Central Fund | 46,459 | 37,905 | |
| Closing balance at 31 December | 14, 13 | (3,086) | 1,092 |
| Central Fund receivable for year | 42,281 | 44,439 |
The total amount recognised as (payable to) / receivable from the Central Fund is:
| Note | 2015 €'000 |
2014 €'000 |
|
|---|---|---|---|
| (Payable to) / Receivable from the Central Fund | 14, 13 | (3,086) | 1,092 |
| Deferred retirement benefit funding | 10.4 | 18,923 | 25,537 |
| 15,837 | 26,629 |
