Oireachtas Joint and Select Committees

Thursday, 2 March 2017

Public Accounts Committee

2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 34 - Environment, Community and Local Government

9:00 am

Mr. John McCarthy:

This would be expected through the audit committees of local authorities and indeed through the audit process. If there was a situation where a local authority had borrowed for a particular purpose and was paying a particular rate and there were more competitive and attractive rates available through the HFA, or otherwise, certainly the expectation would be that borrowing would be undertaken at the most competitive rates depending on the term of the borrowing that might be required, etc.