In the region of €200,000 will be handed back to the state from the Office of the President it has been confirmed.
Speaking today the current President Michael D Higgins said the sum which is an underspend of the presidential allowance will be returned in the near future.
Although it has not been revealed when the sum will be refunded, President Higgins said it will be returned either before or after the next Presidential Election.
The President who was speaking in Cork, also revealed that he is open to publishing a report which would outline expenditures from the allowance which is said to be worth €300,000.
Mr Higgins did however state that the majority of the money was used on public engagements which included garden parties and ambassador visits.