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Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014
(6 Apr 2017)

Seán Fleming: Okay.

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014
(6 Apr 2017)

Seán Fleming: When we ask how much did we invest------

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014
(6 Apr 2017)

Seán Fleming: The first part of my question related to the investment on the part of the taxpayer in respect of FeedHenry.

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014
(6 Apr 2017)

Seán Fleming: I refer to all the categories - Enterprise Ireland, the European taxpayer, etc. - in that regard. Only when we know that can we begin to talk about return on investment. We do not know the level of investment at present.

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014
(6 Apr 2017)

Seán Fleming: What Deputy Connolly is saying is that although Professor Donnelly was able to explain all the good bits, the moment we ask what the investment was, things become confidential.

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014
(6 Apr 2017)

Seán Fleming: On day one, €500 million went in from the private sector and the private sector got 88% because Waterford IT got 12%. We want to match the investment on the part of the taxpayer over the period against the investment from the private sector and compare that to the dilution of the shareholding. Professor Donnelly gets where I am coming from.

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014
(6 Apr 2017)

Seán Fleming: It is black and white. Are we finished? Deputy Cullinane wants to come back for one last point.

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014
(6 Apr 2017)

Seán Fleming: And then we have more people to talk to. As soon as you can, Deputy.

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014
(6 Apr 2017)

Seán Fleming: What oversight has the institute?

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014
(6 Apr 2017)

Seán Fleming: Dr. Love might want to come in now.

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014
(6 Apr 2017)

Seán Fleming: Do not.

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014
(6 Apr 2017)

Seán Fleming: Dr. Love gets that.

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014
(6 Apr 2017)

Seán Fleming: Dr. Love has a letter from WIT. We are asking him to look at it but use his professional judgment to see whether he needs-----

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014
(6 Apr 2017)

Seán Fleming: Will Dr. Love come back to us?

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014
(6 Apr 2017)

Seán Fleming: We will conclude. Would Professor Donnelly like to make a final comment?

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014
(6 Apr 2017)

Seán Fleming: We will conclude. I thank the witnesses from WIT. We want the issues we raised about the financial accounts and the other issues addressed. It will put a serious strain on the organisation to bring up two years but it has to be done. If they could give the same commitment to the financial side of it as it has done to the other side of it, this has to be done. Would Ms Sheridan like to...

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014
(6 Apr 2017)

Seán Fleming: Those are the end of June and the audit to be completed by September. I am putting pressure on both organisations by saying that.

Public Accounts Committee: Dublin Institute of Technology: Financial Statement 2013-2014
Grangegorman Development Agency: Financial Statement 2015
(6 Apr 2017)

Seán Fleming: We are now back in public session. We will continue our discussion with Dublin Institute of Technology and the Grangegorman Development Agency. I apologise for the late start. An issue arose regarding the late submission of financial statements. This applied, to some extent, to the organisations before us. We want every organisation which appears before the committee to have its accounts...

Public Accounts Committee: Dublin Institute of Technology: Financial Statement 2013-2014
Grangegorman Development Agency: Financial Statement 2015
(6 Apr 2017)

Seán Fleming: I want to call Deputy Kelly.

Public Accounts Committee: Dublin Institute of Technology: Financial Statement 2013-2014
Grangegorman Development Agency: Financial Statement 2015
(6 Apr 2017)

Seán Fleming: There is a vótáil in the Dáil Chamber. Will we continue? It relates to a Private Members’ motion taken on Tuesday night. We can carry on if people want.

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