Governance encompasses the system by which an organisation is controlled and operates, and the mechanisms by which it, and its people, are held to account. Ethics, risk management, compliance and administration are all elements of governance.


Governance frameworks are the bedrock of how the organisation is governed and is designed so as to ensure:

  • effective boards,
  • transparency around roles and responsibilities,
  • accountability to, and engagement with, stakeholders, and
  • driving sustainable business practices.

The company’s main objective is to carry out the creation, organisation, promotion and sustainable development of artistic and cultural activities domestically and internationally for social, industrial or commercial benefit resulting in the direct or indirect enhancement of Galway City, Galway County and the wider community.

The Board of Directors

Galway 2020 may have up to 15 board members.  The role of the board includes inter alia

  • the employment of senior executives to the company
  • establishing, and ensuring the implementation of, strategic policy objectives
  • ensuring the highest standards of governance and transparency
  • appointing sub-committees/working groups to ensure that the company has access to the broadest range of specialist expertise and advice in all aspects of its work
  • accounting fully for its activities at the end of Galway 2020 and in particular providing leadership and continuity towards maximising the legacy benefits of the ECoC year.

View list of Board members since incorporation


List number of most recent board meetings pa:

  • 2021 – 8 (to October)
  • 2019 – 9
  • 2020 – 19


Audit Committee

The primary purpose of a company’s audit committee is to provide oversight of the financial reporting process, the audit process, the company’s system of internal controls and compliance with laws and regulations.

Audit Committee – Terms of Reference


Arrangements to Evaluate the Effectiveness of Expenditure

Performance Delivery Agreement 

The Performance Delivery Agreement (PDA) between Galway Cultural Development and Activity CLG (Galway 2020) and the Department of Tourism, Culture, Arts, Gaeltacht, Sport and Media (Department) was signed on 6 November 2018 to define the respective roles and responsibilities of Galway 2020 and the Department and to ensure resources are used in an effective and cost effective manner to deliver an agreed work programme by Galway 2020.

The PDA commits to ensuring that representatives of the Department attend both bi-lateral monitoring meetings with Galway 2020 and separate meetings with the local authorities and other public funders at least quarterly.

The PDA requires Galway 2020 to provide a management report to the Department at the bilateral quarterly meetings on progress on agreed milestones under the key performance indicators, to include the following sections

  • overview of progress on delivery of the programme
  • updates on governance arrangements, risk management and staffing
  • budget v expenditure
  • progress on partnership programmes and
  • progress on the monitoring and evaluation, and legacy programmes.

View Performance Delivery Agreement between The Department of Culture, Heritage and the Gaeltacht and Galway 2020 CLG


Independent Quarterly Financial Audits

As part of the agreement under the PDA with the Department, an Independent Accountant carries out quarterly financial audits. The audit is a review of the accounting records of the organisation, included recording the various processes in place for each area of expenditure, identify the main controls in place for each of these processes, reviewing and testing these controls on a sample basis.

Each quarterly audit report is presented to the board and a copy is sent to the Department.

Monitoring Meetings and Reports

Galway was nominated as the European Capital of Culture 2020 by the relevant Irish authorities on 14 September 2016 based on the recommendation included in the panel’s Selection Report; its bid-book is available on the Galway 2020 website. The first monitoring meeting was held in Brussels on 8 March 2017 and the second monitoring meeting was held in Rijeka on 28-29 June 2018. This third monitoring report is addressed to the Galway 2020 team and is published on the European Commission’s website.







Independent Annual Audits

Galway 2020 financial statements are prepared in accordance with the Companies Act 2014, FRS 102 “The Financial Reporting Standard applicable in the Republic of Ireland and UK” and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the Republic of Ireland and the UK (FR102).

The annual audit is an independent examination and verification process of Galway 2020 financial systems and statements that underlays the books and records of the organisation. The auditor will report back to the shareholders of the company.

Galway 2020 has been given the assurance in knowing that a professional auditor has reviewed the business, the company’s system and internal controls. In all cases (2017 – 2020) the auditor reached the same opinion each year that the accounts showed a true and fair view and that the company has kept proper books and records.




Financial Monitoring Report 2017 – 2021


The financial information contained within this report details the income and expenditure across the lifetime of the project (2017-2021), while setting out the sources and funds available for Legacy initiatives beyond Dec 2021.

Galway 2020 European Capital of Culture has been a seven-year journey for Galway. Commencing in 2015 with the decision to submit a joint city and county bid. In 2016 the designation was awarded and culminated with the successful delivery of over 500 events and activities between February 2020 and April 2021.

This report provides a breakdown of the total income (€23,689,886) committed towards the project and a distribution of income by source. It also provided is a detailed breakdown of the total expenditure (€22,682,461) and a distribution of expenditure by activity. Finally, the report highlights the balance remaining upon completion of cultural programme delivery (Dec 2021), funds which will be appropriated towards Legacy initiatives.


Financial Monitoring Report

Galway 2020 European Capital of Culture Evaluation Report


This report is the independent evaluation of Galway 2020 and outlines the main findings of the evaluation undertaken by The Audience Agency from September 2019 to May 2021. It is an initial assessment of the outcomes and impacts of Galway 2020, and it is expected that further studies may research particular aspects of the ECoC as well as its legacy. The evaluation assesses the outcomes and impacts (immediate and potential) of the delivery of Galway 2020 from its designation in 2016 to the end of its delivery period in April 2021. As the programme was relaunched in September 2020 so the evaluation process was also re-formed and adapted to meet the new circumstances of the year in the context of the impacts of the Covid-19 pandemic.


Galway 2020 European Capital of Culture Evaluation Report

Galway 2020 Evaluation Appendices