Oireachtas Joint and Select Committees

Thursday, 18 May 2023

Public Accounts Committee

Financial Statements 2021: University of Limerick

9:30 am

Photo of Paul McAuliffePaul McAuliffe (Dublin North West, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

Ms Fogarty is talking about valuations after the date. It is a simple question. Does the university believe it paid market value or in excess of it? If it believes it paid in excess, was there a reason for that? The reason I am asking that question is that it is the heart of the issue. A decision was made to purchase a site at a particular value. It is clear and has been fully accepted by the university that the correct processes were not in place. Our job is not to navel gaze about the governance of the University of Limerick. That is the job of the witnesses. Our job is to quantify where public money is misspent. I am trying to quantify how much more UL paid above market value. The answer may be that the witnesses do not know, but they must answer the question. Otherwise they have not accepted there was an issue. How much in excess of market value did the University of Limerick pay and why?