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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: Internationally.

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: But there is an interest saving so it is a trade off on the interest one will save versus the extra premium one has to pay.

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 am only saying that because the public will probably get a little bit lost.

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 just make that point for clarity.

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: On foot of what Deputy Cullinane has said, we will write formally to the Department of Public Expenditure and Reform asking it to provide whatever information it has in respect of a look-back audit on all the public private partnerships, PPPs, entered into since the recent round commenced in 2003 or 2004. If no look-back was carried out, the Department should explain why because it was a...

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: On our side as well.

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: Which organisation?

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: Is there an ethical investment policy covering armaments manufacturing, tobacco, etc.? There must be something in this area. Obviously, climate change must be coming into that overall picture.

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 is in place in this area? In what way does the NTMA need to expand this area?

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: Is the Irish taxpayer still investing in tobacco?

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 delegates will come back to us specifically on this issue.

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 have a few questions to ask, some of which relate to the annual report. Approximately 15% of staff got bonuses, which is approximately 60 people. They got an average payment of €8,000. I see on the remuneration chart on page 54 of the annual accounts that of the 430 staff members, approximately 330 earn salaries of under €100,000 and approximately 100 earn salaries of more...

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 good that I am asking the question so that Mr. O'Kelly can say that publicly.

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 good to hear that. I turn to page 90 of the accounts and direct the following question to the Department of Finance. Agency membership fees for 2015 were €30,000 per member of the board, or agency as the Department calls it. I acknowledge that the chairman, Mr. Willie Walsh, waived his remuneration for 2015, 2014 and other years. I want to record that. I see from the...

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: Do they have to attend more board meetings now? It is not big money but it is the idea of a 20% increase for some group of people in the public service when that is generally not available to the other 300,000 people.

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 am just putting the question out there. Was that an exception from the Department's perspective? Did it increase board fees for any other State body or was this an exception?

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 come back to the committee because we would like to know if this was an isolated case and who made the case for it. It is not big money at €30,000 but there has been a 20% increase for somebody in the system.

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?

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