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Public Accounts Committee: Business of Committee (22 Jun 2017)

David Cullinane: Yes.

Public Accounts Committee: Business of Committee (22 Jun 2017)

David Cullinane: The Commissioner acknowledged that she had a conversation with Mr. Dunne, but only a general conversation with Mr. Barrett.

Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)

David Cullinane: Could the Chairman inform me when I am halfway through my allocated time? I want to split it equally between both institutions if I can. I would first like to ask Professors O'Shea and Fitzgerald if they saw the "RTE Investigates" programme that was aired after the last PAC hearing at which Professor O'Shea was present. Have they seen the programme or are they aware of its contents?

Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)

David Cullinane: Did Mr. Collins see the programme?

Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)

David Cullinane: In their view, were Mr. Collins and Professor O'Shea truthful in the answers that they gave at their last appearance before the Committee of Public Accounts? Does Professor O'Shea believe he was truthful?

Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)

David Cullinane: Does Mr. Collins believe he was truthful and factual in the information he gave?

Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)

David Cullinane: Does Professor Fitzgerald believe the representatives of his organisation who were here were truthful?

Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)

David Cullinane: Who specifically gave incomplete information when he or she was a witness before this committee?

Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)

David Cullinane: The finance director.

Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)

David Cullinane: Notwithstanding the record being corrected, Professor Fitzgerald is now the Accounting Officer, so if his finance director came before the Committee of Public Accounts and gave incomplete information what sanction was in place? What has Professor Fitzgerald done since then? What contact has he had with that individual?

Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)

David Cullinane: I thank Professor Fitzgerald. Could I just note as well, a Chathaoirligh, that it was you who said, on the same programme that there was a severe lack of corporate governance shown by these governing bodies of these organisations and when they did come before us - which was a number of institutes – they did not tell the full truth. They were your words, Chairman. A number of...

Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)

David Cullinane: I ask Professor O'Shea to answer it first.

Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)

David Cullinane: In terms of the €20 million that was funded via borrowings, who borrowed the €20 million?

Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)

David Cullinane: UCC is a taxpayer-funded organisation.

Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)

David Cullinane: I am not asking that. I will put this to Professor O'Shea as he is the Accounting Officer in his organisation. Is he telling me that his organisation borrowed €20 million to purchase the 13 acres?

Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)

David Cullinane: Who then would underwrite those borrowings?

Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)

David Cullinane: With respect, I understand that. We have very limited time. My question is when an institute which is funded by the taxpayer borrows €20 million, who underwrites the borrowing?

Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)

David Cullinane: If there was a difficulty in repaying that it would be taxpayers who would have to fund it? Is that not correct?

Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)

David Cullinane: The taxpayer then underwrote borrowings for the purchase of IMI.

Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)

David Cullinane: The university is funded by taxpayers.

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