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Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015
(21 Jul 2016)

Seán Fleming: Mr. Dorgan might send us on a note. Dealing with pages 92 and 93 and this issue of garden leave for people who have left, it does not jump out at me. What was the total cost of garden leave in 2015? That is agency staff and it seems a lot of them were NAMA people who had left employment but could not go on.

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015
(21 Jul 2016)

Seán Fleming: What was the average payment per person?

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015
(21 Jul 2016)

Seán Fleming: That is fine. It is just to record that. I move on to the State Claims Agency at page 118. I have a couple of question on the agency and people will know that I have form on this from the past. I still cannot get over the cost of legal fees on either side. Can the agency send on to the committee, as it has done previously, the top ten payments in the years 2013 to 2015, inclusive, to...

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015
(21 Jul 2016)

Seán Fleming: So is it the case that it is always going to be a tiny per cent?

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015
(21 Jul 2016)

Seán Fleming: It will, therefore, be mainly loan finance.

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015
(21 Jul 2016)

Seán Fleming: How much more does the NTMA intend investing in Irish Water? I see there is a loan to Irish Water in the back page of the accounts as well. That is €650 million that the NTMA has put into Irish Water.

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015
(21 Jul 2016)

Seán Fleming: So €450 million includes the loan.

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015
(21 Jul 2016)

Seán Fleming: The €450 million includes the loan. Just to help people, I am on to-----

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015
(21 Jul 2016)

Seán Fleming: The Deputy can ask a question if it is on this topic. I have two more small questions.

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015
(21 Jul 2016)

Seán Fleming: Yes, we will deal with it now.

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015
(21 Jul 2016)

Seán Fleming: That is very interesting and hopefully it will be of benefit. I have one or two other small points on the financial statements at page 141. It is a strategic investment fund. We will all get lost in this. I see a figure in the directed portfolio - directed by the Minister - for the NTMA to invest mainly in AIB and Bank of Ireland shares. There is an item in 2014 that has gone in 2015 -...

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015
(21 Jul 2016)

Seán Fleming: It was cash and not bank shares or any other thing.

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015
(21 Jul 2016)

Seán Fleming: In the quoted investment schedule on page 204, there is €125 million invested in Irish infrastructure trust. Who or what is that? Is it a loan or an investment? What does it do? When did that happen?

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015
(21 Jul 2016)

Seán Fleming: It is the convention centre.

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015
(21 Jul 2016)

Seán Fleming: Mr. O'Kelly might send us a note on that. Page 28 relates to the National Development Finance Agency and I come back to PPPs that several members have mentioned today. Page 28 of the accounts shows the list of 12 projects and there is a little description on each of them. Two of them are worrying. One is the DIT campus in Grangegorman. The preferred tenderer was appointed in February...

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015
(21 Jul 2016)

Seán Fleming: Fine. It has not completed. Has that stalled this project?

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015
(21 Jul 2016)

Seán Fleming: The NTMA had appointed its preferred tenderer almost 18 months ago and it has been stopped in its tracks now.

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015
(21 Jul 2016)

Seán Fleming: I know the NTMA is a defendant and does not comment on the court case. We are all clear on that. It is disturbing that that can happen. The last one is No. 12, the design, construction and operation of two service stations on areas located on the M6 motorway east of Athlone and on the M9 motorway south of Kilcullen, together with a fit-out operation and maintenance of a third service...

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015
(21 Jul 2016)

Seán Fleming: Yes.

Public Accounts Committee: 2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015
(21 Jul 2016)

Seán Fleming: Are those two projects PPPs or public procurement projects?

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