Mr. Seamus McCarthy:

This arises from a misstatement that I made at the previous committee. I believe the Deputy asked whether the foundation's financial transactions were recorded in the financial statements. I said I could not see them and I did not think they were. In fact, they are fully consolidated. All of the transactions and the value of the assets of the foundation are in the financial statements of the university, which is the precise way it should be. Historically, it was not the case.