Oireachtas Joint and Select Committees

Tuesday, 23 February 2021

Public Accounts Committee

Horse Racing Ireland: Financial Statements 2019

10:00 am

Mr. Brian Kavanagh:

I do because the Turf Club put in the asset, which is a lease on the 800 acres in the Curragh and the old racecourse facility that was there, so the development could not have happened without that. It had also done a preliminary element of development in 2007 and 2008 on a ring road and the demolition of a hotel in the vicinity, which set the basis for the redevelopment taking place. HRI exercises a significant level of activity in the Curragh through our three directors on the board and we operate a service level agreement with the Curragh racecourse whereby we provide a lot of services to it. These include financial services, company secretarial services and IT services. The Curragh racecourse's finances are produced through the HRI finance function. We have got approvals that are necessary from our board in relation to the annual budget. Ms Eade has to approve any expenditure in excess-----

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