Results 29,321-29,340 of 34,778 for speaker:Seán Fleming

Public Accounts Committee: Bord na gCon - Annual Accounts 2011 (7 Nov 2013)

Seán Fleming: I have no issue with that, so we will move on.

Public Accounts Committee: Bord na gCon - Annual Accounts 2011 (7 Nov 2013)

Seán Fleming: What other assets are not generating income? Are the rest of the sites in the €40 million worth of freehold land in the income earning area?

Public Accounts Committee: Bord na gCon - Annual Accounts 2011 (7 Nov 2013)

Seán Fleming: This means Bord na gCon is saying the Markets Field was an exceptional asset that was -----

Public Accounts Committee: Bord na gCon - Annual Accounts 2011 (7 Nov 2013)

Seán Fleming: Were there many offers?

Public Accounts Committee: Bord na gCon - Annual Accounts 2011 (7 Nov 2013)

Seán Fleming: When was that site sold or when was the sale completed?

Public Accounts Committee: Bord na gCon - Annual Accounts 2011 (7 Nov 2013)

Seán Fleming: That was a bad time to be selling property or finding buyers. I wanted to clarify that issue because there was a serious write-down that had not been mentioned so far. A figure is shown in the accounts for capital grants to private stadia. We have received an information note from Bord na gCon and I am conscious of the serious difficulties it faces. I understand it has a bank facility of...

Public Accounts Committee: Bord na gCon - Annual Accounts 2011 (7 Nov 2013)

Seán Fleming: How would Bord na gCon go about borrowing more or does it have the statutory authority to increase its borrowing? Would it require a change in legislation to increase its borrowing?

Public Accounts Committee: Bord na gCon - Annual Accounts 2011 (7 Nov 2013)

Seán Fleming: Legally, Bord na gCon cannot increase its borrowing above the €25 million without going back to the Department of Finance.

Public Accounts Committee: Bord na gCon - Annual Accounts 2011 (7 Nov 2013)

Seán Fleming: Would it require a statutory instrument or a letter from a Minister to increase it? What would the procedure be to do that? I can understand why the going concern was an issue, given that Bord na gCon is at the limit of its borrowing. If income drops in subsequent years, I can understand how the board could have a difficulty, because it is at the limit of its legal facility to borrow....

Public Accounts Committee: Bord na gCon - Annual Accounts 2011 (7 Nov 2013)

Seán Fleming: Is the board confident it will get €10 million or €11 million every year for the next five years? We know about this year.

Public Accounts Committee: Bord na gCon - Annual Accounts 2011 (7 Nov 2013)

Seán Fleming: The board is relying on the Minister therefore.

Public Accounts Committee: Bord na gCon - Annual Accounts 2011 (7 Nov 2013)

Seán Fleming: To go back to the boards grant payments to the private stadia, I had a quick look at the figures given to us. In the four years, from 2007 to 2010, the board paid out grants of €1.5 million to these stadia. In 2011, it paid out €1.52 million and in 2012, it paid €1.12 million. The figure for these two years is €2.64 million in total. Why, when the board's cash...

Public Accounts Committee: Bord na gCon - Annual Accounts 2011 (7 Nov 2013)

Seán Fleming: I welcome Mr. Neilan and his colleagues. I would like to focus on a few specific issues. A note in Bord na gCon's accounts mentions that it incurred a loss of €934,000 on the sale of its property at Markets Field. The witnesses will appreciate that some of us do not know anything about Markets Field or Bord na gCon's other sites in Limerick. Given that the sale in question incurred...

Public Accounts Committee: Bord na gCon - Annual Accounts 2011 (7 Nov 2013)

Seán Fleming: Even though it represented a loss of almost €1 million to Bord na gCon.

Public Accounts Committee: Bord na gCon - Annual Accounts 2011 (7 Nov 2013)

Seán Fleming: Page 25 of Bord na gCon's financial statements relates to the disposal of fixed assets in the order of €3.8 million in the year in question. There is no need for everyone to turn to that page. In light of the loss of almost €1 million that I have mentioned, I presume Bord na gCon got somewhere in the region of €2 million-----

Public Accounts Committee: Bord na gCon - Annual Accounts 2011 (7 Nov 2013)

Seán Fleming: Yes.

Public Accounts Committee: Bord na gCon - Annual Accounts 2011 (7 Nov 2013)

Seán Fleming: My question relates to an element of Bord na gCon's property portfolio. According to its accounts, its fixed assets are worth €67 million. That is the net book value. Freehold land and buildings account for the biggest end of it, at €40 million. I query the decision not to allow for depreciation in that regard, given that there are buildings involved. I will ask the...

Public Accounts Committee: Business of Committee (7 Nov 2013)

Seán Fleming: Therefore, Mr. McCarthy is working on a report which we might see next year.

Public Accounts Committee: Business of Committee (7 Nov 2013)

Seán Fleming: In the Comptroller and Auditor General's annual report on the HSE there is a specific note on medical cards which indicates an assessment was made of dormant medical cards, but there is no figure given. It was also referred to in the previous year. This feeds into the probity issue of medical cards. Am I right in saying that is a significant element of what we could be talking about the...

Public Accounts Committee: Business of Committee (7 Nov 2013)

Seán Fleming: I thank Mr. McCarthy.