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Public Accounts Committee: University of Limerick: Financial Statements 2019 (17 Jun 2021)

Brian Stanley: Okay. Did the governing authority approve the purchase of the site?

Public Accounts Committee: University of Limerick: Financial Statements 2019 (17 Jun 2021)

Brian Stanley: It did. The witness can state that this morning categorically, so I thank her. The witness has confirmed that advice was received from the consultant who did some negotiating around the deal. Was that consultant on a percentage or was that how payment for consultancy fees operated? In other words, if the site was valued at €1 million, the consultant would get a percentage of...

Public Accounts Committee: University of Limerick: Financial Statements 2019 (17 Jun 2021)

Brian Stanley: It was stated earlier that this was purchased from the university's purse. Did the Higher Education Authority receive a costed development plan for the former Dunnes Stores site? My understanding is the authority received a costed purchase and development plan for the opera site. Did it receive such a plan for the Dunnes Stores site?

Public Accounts Committee: University of Limerick: Financial Statements 2019 (17 Jun 2021)

Brian Stanley: I am not clear from that answer whether the Higher Education Authority received a costed development plan from the university regarding the full development of the Dunnes Stores site.

Public Accounts Committee: University of Limerick: Financial Statements 2019 (17 Jun 2021)

Brian Stanley: Is Mr Flaherty, or perhaps more appropriately, Ms Fogarty, in a position to answer that question?

Public Accounts Committee: University of Limerick: Financial Statements 2019 (17 Jun 2021)

Brian Stanley: I understand you are the financial controller.

Public Accounts Committee: University of Limerick: Financial Statements 2019 (17 Jun 2021)

Brian Stanley: Is there a record of that of the valuation file and from whom the valuation was gotten?

Public Accounts Committee: University of Limerick: Financial Statements 2019 (17 Jun 2021)

Brian Stanley: Will you revert to the committee with that information?

Public Accounts Committee: University of Limerick: Financial Statements 2019 (17 Jun 2021)

Brian Stanley: There is ongoing investigation of this by KPMG. The public information indicates the chancellor of the University of Limerick was appointed to KPMG's public interest committee in December 2019. Is that correct?

Public Accounts Committee: University of Limerick: Financial Statements 2019 (17 Jun 2021)

Brian Stanley: The chancellor of the university, Ms Mary Harney, is still serving on the public interest committee of KPMG, the consultancy firm that is carrying out the examination of the purchase of the Dunnes Stores site and the lack of due diligence around that. Is that correct?

Public Accounts Committee: University of Limerick: Financial Statements 2019 (17 Jun 2021)

Brian Stanley: I thank the witness. If Deputies Devlin, Carroll MacNeill or McAuliffe have not joined us-----

Public Accounts Committee: University of Limerick: Financial Statements 2019 (17 Jun 2021)

Brian Stanley: I thank the Deputy. We can go back through the rota again. Deputy MacSharry was the lead speaker so he can have another four minutes.

Public Accounts Committee: University of Limerick: Financial Statements 2019 (17 Jun 2021)

Brian Stanley: Will Deputy MacSharry put a question? We will get a reply from Mr. Flaherty.

Public Accounts Committee: University of Limerick: Financial Statements 2019 (17 Jun 2021)

Brian Stanley: We lost the sound.

Public Accounts Committee: University of Limerick: Financial Statements 2019 (17 Jun 2021)

Brian Stanley: Deputy Munster has four minutes.

Public Accounts Committee: University of Limerick: Financial Statements 2019 (17 Jun 2021)

Brian Stanley: The sound was poor.

Public Accounts Committee: University of Limerick: Financial Statements 2019 (17 Jun 2021)

Brian Stanley: Can Deputy MacSharry put the question again, concisely?

Public Accounts Committee: University of Limerick: Financial Statements 2019 (17 Jun 2021)

Brian Stanley: I will ask Professor Mey to answer that question. It is appropriate she answers it. Can a copy be supplied to the Committee of Public Accounts?

Public Accounts Committee: University of Limerick: Financial Statements 2019 (17 Jun 2021)

Brian Stanley: Deputy Munster has four minutes.

Public Accounts Committee: University of Limerick: Financial Statements 2019 (17 Jun 2021)

Brian Stanley: I call Deputy Catherine Murphy.

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