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Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Imelda Munster: Ms Eade has no concerns.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Imelda Munster: What about the Department?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Imelda Munster: Exactly.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Imelda Munster: It is a slow pace. With regard to the Curragh Racecourse, earlier the Comptroller and Auditor General mentioned the percentage of vote shares if the loan converts. What percentage is this?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Imelda Munster: If Ms Eade has it, I would be grateful.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Imelda Munster: The State has provided just under half of the monetary investment. Private investment is making up the other half. On the capital side, however, the State owns the land.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Imelda Munster: The racecourse is owned by the Turf Club, basically the IHRB, which is almost entirely State funded. Would it be fair to say therefore that the State interest in this company exceeds 50% when it is all combined? Can I put that question to the Comptroller and Auditor General?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Imelda Munster: Is the racecourse subject to freedom of information, FOI?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Imelda Munster: We have been through this with other issues previously. If anything is to come from today's meeting, it is that the committee could recommend reform of the rules relating to freedom of information and agencies being subject to audit, particularly when we consider that it is glaringly obvious that this is majority State financed.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Imelda Munster: Yes, we should propose reform to ensure that all public moneys invested, as opposed to those provided via the Exchequer, are actually-----

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Imelda Munster: I thank the Chair. Is my time up? I have one more question.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Imelda Munster: It is a quick question.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Imelda Munster: I understand Mr. O'Loughlin recently made his first appearance before the agriculture committee, at which he stated the IHRB would begin reporting the salary of the CEO in its financial statements. Is that correct and from what year does the IHRB intend to do that?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Imelda Munster: Very briefly, Ms Eade stated that a payment had been made to the former CEO. I think she said it "had" been made.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Imelda Munster: Why can Ms Eade not tell us what that payment was, if it is done and dusted?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Imelda Munster: We are simply asking what the payment was. Why can Ms Eade not tell us what it was?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Imelda Munster: Right, but can Ms Eade disclose what that payment is?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Imelda Munster: I ask the Comptroller and Auditor General if there is anything-----

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Imelda Munster: Is there anything precluding HRI from giving us information on the amount of the payment?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Imelda Munster: Before the break, Ms Eade gave a commitment to let us know what was the payment made to the ex-CEO of the IHRB. Can she furnish us with that information?

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