Oireachtas Joint and Select Committees
Thursday, 13 July 2017
Public Accounts Committee
2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service
9:00 am
Mr. Seán Quigley:
In the accountant's office, there is a single current account. It is not where investments are placed. We place investments with our fund managers and it is based on six unitised funds. Each individual owns a certain number of units in the particular strategy in which they are invested. The moneys are not in a bank account, they are in a fund and we can track the value of funds at any one time based on the number of units held, and the price of that unit.
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