A chronology of recent events relating to the financial crisis at the Abbey Theatre.
Late 2003: The budget for the centenary programme, "Abbeyonehundred", is set at €3 million, to be raised through external funding and a €1 million State grant.
January 2004: A finance and audit committee is established to act as the board's representative in financial and auditing matters in the Abbey.
Early 2004: This committee seeks to reduce the budgeted cost of the programme, which was already over-running. Options including scaling back the programme are explored.
May 2004: The €1 million State grant is received.
Mid 2004: The finance and audit committee is told The Shaughraun has run significantly over budget by €400,000 due to "excessive spending". Sponsorship shortfall of €1 million. A fresh analysis of remaining projects leads to newly predicted costs of €3.3 million.
July 2004: The national tour of The Playboy of the Western World commences, followed by an international tour. It later emerges that the €650,000 budget for the national tour is not included in any income and expenditure statements during 2004.
December 2004: The Arts Council offers €2 million to the Abbey as part of a "stabilisation plan" to address losses from the centenary programme, on condition that sweeping changes are made to corporate governance.
May 2005: Following new analysis of accounts, the operating loss for 2004 is increased from €1 million to €1.85 million. The Abbey announces the appointment of KPMG to investigate the finances.
Source: KPMG report, July 2005