Number of TCD staff earning over €300,000 more than doubled last year
Report finds operating losses at Trinity more than doubled to €16.37m due to pandemic
Revenues in a number of areas in Trinity College Dublin were negatively impacted by Covid-19, including Book of Kells exhibition receipts. File photograph: Alan Betson
The number of staff at Trinity College Dublin earning over €300,000 per annum more than doubled last year to 13.
That is according to the 2020 annual report for the college which shows that TCD’s operating losses also more than doubled to €16.37 million as it grappled with the impact of the Covid-19 pandemic.
The report shows that the college’s revenues decreased by €7.6 million from €404.15 million to €396.7 million in the 12 months to the end of September 2020 “reflecting the significant impact of Covid-19 on Trinity’s non-exchequer income streams”.
In his report, chief financial officer Peter Reynolds also states that “we are confident that Trinity is well positioned to emerge strongly from this crisis and to continue to deliver on our strategic objectives”.
The college’s largest cost was staff costs which last year increased by €8.2 million to €279.6 million driven by accelerated pay restoration approved by the State under the Lansdowne Road Agreement and annual increments.
The top-paid employees at the college were all medical teaching consultants with two receiving pay over €400,000. None fell in that pay range in 2019.
A further 11 teaching medical consultants were paid between €300,000 and €400,000 compared to six in that pay range in 2019.
A further 19 staff were in the €200,000 to €300,000 pay range bracket compared to 18 in that pay range in 2019.
The numbers earning between €100,000 and €200,000 totalled 252 in 2020 compared to 233 in that earning bracket in 2019.
A note attached to the accounts states that backpay of €1.8 million to 25 staff had been included in some of the figures. The note states that TCD received €2.2 million in the year from the Higher Education Authority to fund medical consultant backpay.
The total remuneration for key management personnel for the year 2020 amounted to €2.5 million compared to €2.3 million for 2019.
The best paid member of staff outside medical consultants was the outgoing provost, Dr Patrick Prendergast, whose salary in 2020 was €209,119.
In line with public pay increases, the salary of the provost has since increased and is currently €213,301.
Numbers employed at TCD reduced from 4,549 to 4,441.
Book of Kells
Academic-fee income increased by €10.6 million to €163.7 million last year as student numbers increased by 2.9 per cent to 18,941 with non-EU students comprising 17 per cent of the total student base.
Revenues in a number of areas were negatively impacted by Covid-19 – income from library, including Book of Kells exhibition receipts, reduced from €18.3 million to €4.5 million, while income from residences reduced from €12.8 million to €10.8 million.
However, donations and endowments to the college increased from €20.4 million to €27.7 million.
Mr Reynolds pointed out that exchequer income has declined from 70 per cent of the university’s total income in 2008 to 39 per cent in 2020 “and the financial outlook for the university will continue to remain uncertain unless the Government commits to long-term funding or lifts the cap on undergraduate student fees”.