An independent report was prepared by Farrell Grant Sparks in April 2002 for the Department of Education and Science and the Department of Finance, demonstrating the affordability of the Cork School of Music. This report clearly shows that the Jarvis bid offers potential quantitative value for money and is 3% below the equivalent risk-adjusted value for money comparator. The report also highlights the approximate cost per month, the current delay in approving the project and the impact to the Exchequer. It is worth noting at this point, for those not familiar with the finer details of public private partnerships, that it would be at the hand-over period of the school that the first payment would be incurred, that is January 2005.