6. Central Fund income
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 | 2017 €000 |
2016 €000 |
|
|---|---|---|---|
| Opening balance at 1 January | 13 | (2,025) | 3,086 |
| Net amounts received from Central Fund | 54,945 | 42,307 | |
| Closing balance at 31 December | 14 | (1,541) | 2,025 |
| Central Fund income | 51,379 | 47,418 |
The total amount recognised as receivable from/(payable to) the Central Fund is:
| Note | 2017 €000 |
2016 €000 |
|
|---|---|---|---|
| (Payable to)/Receivable from the Central Fund | 14, 13 | (1,541) | 2,025 |
| Deferred retirement benefit funding | 9.4 | 33,704 | 41,662 |
| 32,163 | 43,687 |