Oireachtas Joint and Select Committees
Thursday, 11 October 2012
Public Accounts Committee
Public Service Agreement 2010-14: Discussion with Implementation Body
12:10 pm
Mr. P. J. Fitzpatrick:
The formula provided for 40% of total salary cost to value overhead cost. The actual amount of pay savings based on Grant Thornton’s estimate was in the region of €17.5 million, and €26.7 million for the following year, whereas the Department reported €17 million and €22.8 million. The figure is not insignificant but it was understated rather than overstated. It was technical in the sense that 40% is a technical accounting issue but the use of the mid-point of the salary scales was not a technical issue.