David Cullinane (Waterford, Sinn Fein)
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98. To ask the Minister for Education and Skills to provide the details of the draft financial statements for all institutes of technology for the 2014-2015 and for the 2015-2016 academic years, including the amount of the deficit any are showing in tabular form; and if he will make a statement on the matter. [12395/16]

Richard Bruton (Dublin Bay North, Fine Gael)
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Details of the draft financial statements for all Institutes of Technology (IoTs) for 2014/15 are set out in the following table. The draft financial statements for the IoTs for the year 2015/16 are not yet available.

All the institutes showing a deficit, with the exception of two - Dundalk Institute of Technology (DKIT) and Waterford Institute of Technology (WIT) - have reserves which can be used to meet their deficit. DKIT and WIT have submitted financial plans to the Higher Education Authority (HEA) which will see the institutions return to an operating surplus within three years.

The HEA are closely monitoring the financial position of all of the IoTs and in particular are working closely with those operating in deficit to ensure appropriate mechanisms are put in place to eliminate the deficits as quickly as possible.

Details of the financial positions of the Institutes of Technology according to the 2014/15 draft Financial Accounts are as follows: