Results 3,461-3,480 of 34,616 for speaker:Seán Fleming

Public Accounts Committee: Caranua Financial Statements 2017 (17 Oct 2019)

Seán Fleming: We are meeting with Caranua about its financial statements for 2017. We are joined by Ms Rachel Downes, chief executive officer of Caranua. She is very welcome to this first meeting in her role as chief executive officer. We are also joined by Mr. David O'Callaghan, chairperson, Ms Sinéad Dwyer, director of services, and Mr. Michael Fitzpatrick, director of finance and corporate...

Public Accounts Committee: Caranua Financial Statements 2017 (17 Oct 2019)

Seán Fleming: I thank Ms Downes. The speakers have indicated in the following sequence. The first speaker will be Deputy Connolly. She will have 20 minutes. The second will be Deputy Munster and she will have 15. The other speakers, Deputies Cullinane, Catherine Murphy, MacSharry and O'Connell, will have ten minutes each.

Public Accounts Committee: Caranua Financial Statements 2017 (17 Oct 2019)

Seán Fleming: It is from 2016.

Public Accounts Committee: Caranua Financial Statements 2017 (17 Oct 2019)

Seán Fleming: I would suggest someone here might look up the financial statements on the Caranua website now. That question can be answered in five minutes. Is there a staff member who can do that?

Public Accounts Committee: Caranua Financial Statements 2017 (17 Oct 2019)

Seán Fleming: That can happen now in a few short minutes.

Public Accounts Committee: Caranua Financial Statements 2017 (17 Oct 2019)

Seán Fleming: We might verify that with a note in due course.

Public Accounts Committee: Caranua Financial Statements 2017 (17 Oct 2019)

Seán Fleming: What is the average payment?

Public Accounts Committee: Caranua Financial Statements 2017 (17 Oct 2019)

Seán Fleming: What are the lowest and the highest payments?

Public Accounts Committee: Caranua Financial Statements 2017 (17 Oct 2019)

Seán Fleming: Does that require legislation?

Public Accounts Committee: Caranua Financial Statements 2017 (17 Oct 2019)

Seán Fleming: How long does that take? That is another issue.

Public Accounts Committee: Caranua Financial Statements 2017 (17 Oct 2019)

Seán Fleming: It has nothing to do with Mr. O'Callaghan.

Public Accounts Committee: Caranua Financial Statements 2017 (17 Oct 2019)

Seán Fleming: The average payment so far was approximately €8,000.

Public Accounts Committee: Caranua Financial Statements 2017 (17 Oct 2019)

Seán Fleming: How many claims has Caranua on hand?

Public Accounts Committee: Caranua Financial Statements 2017 (17 Oct 2019)

Seán Fleming: What is the figure?

Public Accounts Committee: Caranua Financial Statements 2017 (17 Oct 2019)

Seán Fleming: When we multiple €13,000 by 300, we get approximately €4 million. Caranua will have €8 million in funds between now and its wind-down. Based on the cases to date, the average payment is €13,000 per case. Caranua has received 11,500 applications. Some payments will be higher than €13,000 and some will be lower. However, if the average remains roughly as...

Public Accounts Committee: Caranua Financial Statements 2017 (17 Oct 2019)

Seán Fleming: That is fine but Caranua is closed for applications. Will it double the payment for the last applicants to use up the money?

Public Accounts Committee: Caranua Financial Statements 2017 (17 Oct 2019)

Seán Fleming: Of course not, but Ms Downes is not giving me an explanation. Based on Caranua's experience to date and its administrative costs, it should cost approximately €4 million to deal with the final 300 cases if they are similar to the previous several thousand cases, which they should be. Did Caranua close it off too late? I will ask the chairman of the board. Let us say Caranua makes...

Public Accounts Committee: Caranua Financial Statements 2017 (17 Oct 2019)

Seán Fleming: Mr. O'Callaghan can see it is very simple.

Public Accounts Committee: Caranua Financial Statements 2017 (17 Oct 2019)

Seán Fleming: We are into a new situation. Caranua has closed its files and has 317 cases left. It is clear, based on past experience, that it will not utilise most of the remaining funding. Will Caranua re-advertise or reopen for applications?

Public Accounts Committee: Caranua Financial Statements 2017 (17 Oct 2019)

Seán Fleming: We understand Caranua will write the cheques. That has been said four times.