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Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

...serious omission. As outlined in my written submission, deep concern was recorded in the minutes of that meeting about due diligence and whether the policy for the acquisition of new property, buildings, land and infrastructure was passed. There was concern about the apparent high price of the buildings acquired. We understood immediately, given the sensitivity of the Dunnes Stores...

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

..., we do a massive amount of due diligence. The approving authority requires us to give it clarity and assurances around that. When we do not put it in funds, but the university decides to buy land or property of any sort, under the Universities Act it does not have to tell the HEA, the Department or the Minister. It is entitled to do that under the Universities Act.

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Dr. Alan Wall: I beg the Deputy's pardon. What we addressed in the Dunnes issue was the governance gap between what the governing authority and executive did when it decided to buy its own land, and how it informed us of that. We used the new Act to create 14 touch points they had with regard to Rhebogue where they could have told us. We rely on assurances. The authority has the...

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: ...four self-contained units in them. It was buying three-bedroom homes. That is the point I am trying to make. There are 30 pages in the policy for the acquisition of new property and buildings, land and infrastructure. Did anyone at those executive committee meetings raise the issue of whether all of the procedures set out in this policy were being followed?

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: ...have a question for the Higher Education Authority. The information supplied states that, on 30 July 2022, the governing authority approved a new policy for the acquisition of property, buildings, land and infrastructure. Following that meeting, a status update was provided to the HEA. At the same meeting, the governing authority was briefed about “one short-term solution that...