Oireachtas Joint and Select Committees

Wednesday, 29 March 2017

Public Accounts Committee

HEA - Financial Statement 2015

10:00 am

Mr. Stewart Roche:

There was previously an arrangement between WIT and the DCS campus companies where WIT would pay over moneys to DCS for services provided by DCS to WIT. The situation is that moneys were being paid by DCS to build up the sinking fund to purchase the student residences. The situation since the consolidation of DCS into WIT is that WIT is no longer paying that money over to DCS and the moneys that are being used to repay the loans are now coming from DCS to WIT. The loans are being repaid.