Oireachtas Joint and Select Committees

Thursday, 27 September 2012

Public Accounts Committee

Special Report No. 78 of the Comptroller and Auditor General: Matters Arising out of Education Audits

11:50 am

Professor Brian MacCraith:

They are in the case of DCU. The objective of the DCU commercial suite of companies is to generate non-Exchequer income profits to enable the university to deliver on its strategic intent. That is their function. In terms of the Helix, since 2008 there has been a subvention of €500,000 per annum of non-Exchequer funds from the university to the Helix. The university does not inject income into any of the other subsidiaries. The rationale for this is twofold. One is the actual financial benefit we get from having the Helix for running events, including graduations and so on, in respect of which we obtain lower rates. The net value to us is of the order of €200,000. We have brought this to the attention of the governing authority. More significantly, the role of the Helix is way beyond its financial value. The footfall it brings to campus is approximately 250,000 per annum. In terms of promotion of the university, that is significant. The Deputy may be aware of the region in which DCU is located. The community engagement aspect of the Helix is enormous. I could on go.

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