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