Results 18,921-18,940 of 26,148 for speaker:Kieran O'Donnell

Public Accounts Committee: 2013 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (20 Nov 2014)

Kieran O'Donnell: In the accounts that were published for the Office of the Courts of Justice for the year ending September 2013, there is no breakdown of expenses. I have just glanced through the accounts and effectively one gets a summary balance sheet and a summary of income and expenditure, but there is no breakdown of any expenses incurred. Is there a reason for that?

Public Accounts Committee: 2013 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (20 Nov 2014)

Kieran O'Donnell: Going back to Deputy McDonald's point, I am referring to expenses within the fund itself.

Public Accounts Committee: 2013 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (20 Nov 2014)

Kieran O'Donnell: Okay.

Public Accounts Committee: 2013 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (20 Nov 2014)

Kieran O'Donnell: Okay.

Public Accounts Committee: 2013 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (20 Nov 2014)

Kieran O'Donnell: The courts have no objection.

Public Accounts Committee: 2013 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (20 Nov 2014)

Kieran O'Donnell: In the circumstances of the Courts Service, could it differ from one individual to the next?

Public Accounts Committee: 2013 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (20 Nov 2014)

Kieran O'Donnell: Is the State the underwriter of the fund?

Public Accounts Committee: 2013 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (20 Nov 2014)

Kieran O'Donnell: Let us say for argument's sake that €4 million is got for an individual and, through unforeseen circumstances, the individual's family is put into a position where it has to draw down funds much faster than anticipated initially when health reasons, for example, might have been a factor. Have there ever been circumstances in which the State has had to cover the shortfall? What would...

Public Accounts Committee: 2013 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (20 Nov 2014)

Kieran O'Donnell: If there is a shortfall, what decision does the investment committee make in terms of the fund?

Public Accounts Committee: 2013 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (20 Nov 2014)

Kieran O'Donnell: The State, despite the belief people might have, is not the underwriter of the fund.

Public Accounts Committee: 2013 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (20 Nov 2014)

Kieran O'Donnell: But the State, through the HSE or other body, steps in by default in terms of the provision of services.

Public Accounts Committee: 2013 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (20 Nov 2014)

Kieran O'Donnell: I would not go there.

Public Accounts Committee: 2013 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (20 Nov 2014)

Kieran O'Donnell: What is the benchmark when investing in a fund? I acknowledge that an extern from the NTMA is on the investment committee. Does Mr. Quigley's office benchmark in making investments?

Public Accounts Committee: 2013 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (20 Nov 2014)

Kieran O'Donnell: I will conclude on that point. If someone is made a ward of court, do the family members have any input or engage in discussions? Are they consulted in any way on the type of investment put in place for the individual?

Public Accounts Committee: 2013 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (20 Nov 2014)

Kieran O'Donnell: I thank the witnesses.

Public Accounts Committee: 2013 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (20 Nov 2014)

Kieran O'Donnell: Could Mr. Quigley explain in layman's terms the difference between the investment and custodial roles?

Public Accounts Committee: 2013 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (20 Nov 2014)

Kieran O'Donnell: The management and control of the fund are under a body other than State Street.

Public Accounts Committee: 2013 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (20 Nov 2014)

Kieran O'Donnell: However, it gives advice on the types of investment policies to be adopted.

Public Accounts Committee: 2013 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (20 Nov 2014)

Kieran O'Donnell: Who is the custodian?

Public Accounts Committee: 2013 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (20 Nov 2014)

Kieran O'Donnell: So the person would report to State Street. It is not a stand-alone function.