Oireachtas Joint and Select Committees
Thursday, 10 April 2014
Public Accounts Committee
Payments to Section 39 Companies: (Resumed) Rehab Group
1:50 pm
Mr. Keith Poole:
The Deputy is referring to our balance sheet, which is set out on page 13 of our financial statement. The reserve figure at the bottom of the page includes an item called "capital reserve". Since before I joined Rehab, the organisation has valued its property on a replacement basis rather than a market value basis. That capital reserve arises out of the revaluation of properties.
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