EPOS ERIC Financial Statements 2019

EPOS ERIC’s 2019 financial statements present the first accounting records of the European Plate Observing System (EPOS) as a legal entity established in 2018. The documents follow International Public Sector Accounting Standards (IPSAS) to ensure transparency and comparability for stakeholders across Europe.

The balance sheet highlights €1.69 million in cash and cash equivalents, primarily held in a bank deposit, alongside €95.76k in short-term receivables (e.g., uncollected membership fees) and €250.48k in current liabilities (e.g., debts to suppliers and staff costs). The profit and loss account reports €637.73k in total revenues, including membership fees, host contributions, grants, and in-kind contributions (e.g., staff secondments from INGV). Key expenses totaled €380.65k, primarily for services (e.g., meetings, consultancy) and in-kind contributions.

The notes detail accounting policies, such as the treatment of deferred income (€1.54 million) for start-up activities and the valuation of in-kind contributions (€244.77k) under IPSAS 23. The document also addresses the COVID-19 pandemic’s negligible impact on financial assumptions but notes potential delays in planned activities.