NCI warns of revenue decline as activation programmes end

The National College of Ireland (NCI) in Dublin's Docklands has warned of a likely decline in turnover as revenues coming through State-funded labour market activation programmes are phased out due to rising employment levels.

A note from the college directors included with recently-filed accounts says that revenues secured by the institution over the past five years from subsidised programmes such as the Higher Education Authority’s (HEA) Springboard initiative, will have to be replaced with fees from other sources. It sees the primary source of replacement revenue as coming from international student registrations and professional education and training.

The college, which recorded a sharp decline in operating surplus for the year ending June 2015, said that approximately 25 per cent of its funding is provided by the State through the "free fees" initiative and a core grant from the Department of Education and Skills, with the majority of revenues coming from private sources that includes student fees, commercial income, donations and sponsorship.

Student fees

The college reported an operating surplus of €324,990 for the year ending June 2015, down 37 per cent compared to the €522,697 in the prior year. The decline occurred despite income rising to €20.4 million for the year from €18.9 million a year earlier.

Student fee revenue rose to €15.8 million up from €14 million in 2014, while income from the Department of Education and Skills was €1.95 million, unchanged from 2014. Staff costs, including salaries, rose to €13.5 million, up from €11.4 million in 2014.