Mr. Tom Boland:

As is the case with all the institutions we fund, we met the NCAD annually in the context of its budget. In that context, we would have had available to us a set of management accounts, not audited accounts. To that extent, we were always aware of the financial position of the college. Consistently at those meetings and in some correspondence, we informed the NCAD, and, on two occasions - in 2009 and 2011, I believe - we also informed the system as a whole, of the extreme importance of timely accounts and the timely laying of accounts before the Houses of the Oireachtas.