Results 9,381-9,400 of 26,610 for speaker:David Cullinane
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
David Cullinane: Notwithstanding the record being corrected, Professor Fitzgerald is now the Accounting Officer, so if his finance director came before the Committee of Public Accounts and gave incomplete information what sanction was in place? What has Professor Fitzgerald done since then? What contact has he had with that individual?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
David Cullinane: I thank Professor Fitzgerald. Could I just note as well, a Chathaoirligh, that it was you who said, on the same programme that there was a severe lack of corporate governance shown by these governing bodies of these organisations and when they did come before us - which was a number of institutes – they did not tell the full truth. They were your words, Chairman. A number of...
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
David Cullinane: I ask Professor O'Shea to answer it first.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
David Cullinane: In terms of the €20 million that was funded via borrowings, who borrowed the €20 million?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
David Cullinane: UCC is a taxpayer-funded organisation.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
David Cullinane: I am not asking that. I will put this to Professor O'Shea as he is the Accounting Officer in his organisation. Is he telling me that his organisation borrowed €20 million to purchase the 13 acres?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
David Cullinane: Who then would underwrite those borrowings?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
David Cullinane: With respect, I understand that. We have very limited time. My question is when an institute which is funded by the taxpayer borrows €20 million, who underwrites the borrowing?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
David Cullinane: If there was a difficulty in repaying that it would be taxpayers who would have to fund it? Is that not correct?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
David Cullinane: The taxpayer then underwrote borrowings for the purchase of IMI.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
David Cullinane: The university is funded by taxpayers.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
David Cullinane: In the main it is funded by taxpayers.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
David Cullinane: Does the rest of money come from student contributions and so on?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
David Cullinane: With respect to Mr. Collins, I do not think we need that level of information. I have enough on the matter at this point. I will move on to questions to Dr. Love. Is it the case that the HEA instructed UCC to postpone the IMI takeover at some point?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
David Cullinane: Could Dr. Love explain why that instruction was given?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
David Cullinane: Was it just an administrative issue that arose rather than the actual liabilities?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
David Cullinane: I have one final question for Mr. Collins on the pension liabilities. Did he say UCC did not have any pension liabilities it would have to pay in respect of the IMI?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
David Cullinane: Are there any future pension liabilities for which UCC will incur a cost?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
David Cullinane: What about the €1.4 million pension for the former CEO, Barry Kenny? Who is liable for that? This was a brand new agreement which was built into the UCC deal as part of a High Court settlement. Is that correct?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
David Cullinane: Was it a brand new agreement?