AN increase in IFA membership subscriptions – which clicked in from March 1, 2024 – should bring the association back on even financial keel, after a loss-making year from April 1, 2023 to March 31, 2024.

The IFA accounts showed an overall loss for the 2023-24 financial year of almost €430,000 with increased wage costs and reduced levy returns cited as the main reasons for the shortfall.

Individual IFA membership since March 1, 2024, now works out at a minimum of €115 [up €25 from 2023] with add-on family membership having been increased from €65 to €75.

The national annual IFA accounts were approved last month at a meeting of the association’s National Council and showed consolidated assets of €17.3 million down slightly from the March ’23 figure of €17.7m.

“2024 saw the cost of doing business continue to rise. Combined with lower commodity prices which impacted our levy income, this meant it was a challenging financial year for the Association.

“An increase in membership subscriptions was agreed in December 2023 and implemented from March 1st, 2024. This increase should ensure that the organisation will have an operating surplus to the year end March 2025.

“IFA does not rely on Government funding for our activities. To represent farmers effectively, we have to be well-resourced by our own means. We also need strong reserves.

“The IFA is an organisation for farmers, run by farmers. We need to ensure it remains strong and that we can operate without fear or favour,” the IFA said in a statement accompanying the accounts.

Galway-Mayo IFA Regional Executive, Roy O’Brien, told the Farming Tribune, that following the increase in membership subscriptions last March, no further increases were envisaged for the next four to five years.

“Costs are rising as in all other businesses in Ireland with increased wages inflation. To get the qualified, specialist people we need, we have to pay the going rate, or a little above, or else you just won’t get them. It’s as simple as that,” said Roy O’Brien.

He added that the IFA was committed to a self-funding strategy and had no intention of seeking any Government aids which could dilute the independence of the association.

“There are a huge range of sectors across farming where the IFA can provide specialist advice covering such diverse topics as taxation, greenways, support payments, schemes, and international trade deals like Mercosur.

“I would also strongly advise farmers to read closely their members’ guide booklet where a whole range of benefits for members are listed from electricity deals with Bord Gáis to insurance concessions worth €85 annually from FBD,” said Roy O’Brien.

He added though that it would be remiss of him not to mention the huge voluntary effort which had helped to sustain the IFA down through the decades from branch officers and members to county and national representatives. “Without that massive and talented voluntary contribution from members, the IFA could not function,” he said.

Pictured: Roy O’Brien: Wage and other costs continue to rise.