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Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
University of Limerick Financial Report 2020
(12 May 2022)

Brian Stanley: At what time did the meeting conclude?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
University of Limerick Financial Report 2020
(12 May 2022)

Brian Stanley: At what time did it finish?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
University of Limerick Financial Report 2020
(12 May 2022)

Brian Stanley: Fair enough. I am open to correction on that.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
University of Limerick Financial Report 2020
(12 May 2022)

Brian Stanley: I am just trying to draw people out.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
University of Limerick Financial Report 2020
(12 May 2022)

Brian Stanley: This is a simple case of a board of governors sitting there and making the decision to spend more than €8 million without any written documentation in front it and nobody, not even Ms Harney, asked whether there was a second or third valuation. That is the point I am making. Does Ms Harney accept that was a huge mistake?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
University of Limerick Financial Report 2020
(12 May 2022)

Brian Stanley: The board had no evidence of a valuation from an auctioneer or a local valuer.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
University of Limerick Financial Report 2020
(12 May 2022)

Brian Stanley: Two valuations-----

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
University of Limerick Financial Report 2020
(12 May 2022)

Brian Stanley: Deputy Carroll MacNeill is next.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
University of Limerick Financial Report 2020
(12 May 2022)

Brian Stanley: Surely the lesson is that the governing body would ask to see at least two valuations from reputable companies on the island of Ireland.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
University of Limerick Financial Report 2020
(12 May 2022)

Brian Stanley: I accept that but the Irish Universities Association's code of governance would require UL to have valuations done.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
University of Limerick Financial Report 2020
(12 May 2022)

Brian Stanley: It came into effect a month or two after.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
University of Limerick Financial Report 2020
(12 May 2022)

Brian Stanley: I am puzzled as to why none of the experienced people on the board, of whom there are many, saw fit to do this. Ms Harney is telling us that none of them, including herself, saw fit to do it. No valuation was seen; not even one. I find that incredible. Some members have indicated that they want to come back in briefly. I call Deputy Devlin.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
University of Limerick Financial Report 2020
(12 May 2022)

Brian Stanley: Unfortunately a number of members have indicated that they want to come in so I will have to cut this round short and allow members only one question each.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
University of Limerick Financial Report 2020
(12 May 2022)

Brian Stanley: I am sorry to have to cut the Deputy short. I do not like doing so but we must be brief.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
University of Limerick Financial Report 2020
(12 May 2022)

Brian Stanley: We will ask Ms Harney to come back to the Deputy on that because it requires a long explanation.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
University of Limerick Financial Report 2020
(12 May 2022)

Brian Stanley: As I understand it, a substantial document was submitted to the Department regarding the opera site. That document may have run to 50 or 60 pages. It was submitted to the Higher Education Authority and it concerned the opera site. Is that correct?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
University of Limerick Financial Report 2020
(12 May 2022)

Brian Stanley: Was there a substantial briefing document?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
University of Limerick Financial Report 2020
(12 May 2022)

Brian Stanley: Okay. I have a question for the Department. I am sorry for cutting the officials short earlier. Is the Department happy with the way the University of Limerick went about purchasing the Dunnes Stores site?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
University of Limerick Financial Report 2020
(12 May 2022)

Brian Stanley: The Department is not happy.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
University of Limerick Financial Report 2020
(12 May 2022)

Brian Stanley: Okay. We all, including the chancellor, look forward to seeing that.

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