Oireachtas Joint and Select Committees

Thursday, 9 May 2024

Public Accounts Committee

Financial Statements 2022: University of Limerick

9:00 am

Professor Shane Kilcommins:

-----and 25%, 45%, 65%, 85% and then 100% returning to the university. This matter was raised afterwards. That in total brought it to €11.97 million. As the O'Donoghue review noted, that was a very unusual way to present it. Subsequently, a supplemental agreement was signed on 2 August 2023. What that did was to reduce that total cost of €11.97 million to €11.4 million with the agreement that it would be paid as a balloon payment all at once. That did not come to the governing authority.

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