Oireachtas Joint and Select Committees

Thursday, 6 April 2017

Public Accounts Committee

National University of Ireland Galway: Financial Statement 2013-2014

9:00 am

Ms Mary Dooley:

Sorry €57 million. The foundation has committed €67 million in capital money to the university. Some 50% of that money has already been paid to the university, received by the university, banked and so on. We referred before to the fact that the foundation will only pay us - that is its rule or policy - once projects have been completed and we have expended the money. As the president has said, a major project has come to completion in the past year or two. The retention moneys and so on and the final balancing of the contract with the contractor has not been done.

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