Oireachtas Joint and Select Committees
Thursday, 22 January 2015
Public Accounts Committee
Financial Statements of the Higher Education Authority 2013
General Report No. 85 of the Comptroller and Auditor General: Accountability and Governance on the National College of Art and Design
Mr. Fergal Costello:
There is not a debt as such because institutes are not allowed to borrow under the legislation, but there was an allocation from the Department to the institute to complete work in respect of the purchase of apartments and also a sports centre. There may be some associated companies which are now being brought into Waterford which are carrying a small amount of debt as far as I know, but they are companies that were outside the institute at the time they borrowed.