Matt Carthy (Cavan-Monaghan, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

826. To ask the Minister for Agriculture, Food and the Marine if the full financial allocation to Horse Racing Ireland and Greyhound Racing Ireland will be expended in 2020; the monitoring of this funding expenditure carried out by his Department; and if he will make a statement on the matter. [41689/20]

Charlie McConalogue (Donegal, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

Horse Racing Ireland (HRI) is a commercial state body established under the Horse and Greyhound Racing Act, 2001, and is responsible for the overall administration, promotion and development of the horse racing industry.  Similarly, Rásaíocht Con Éireann is a commercial state body, established under the Greyhound Industry Act, 1958 chiefly to control greyhound racing and to improve and develop the greyhound industry.  Rásaíocht Con Éireann (RCÉ) is a body corporate and a separate legal entity to the Department of Agriculture, Food and the Marine. 

Both Horse Racing Ireland and Rásíocht Con Éireann have confirmed to my Department that the full financial allocation from the Horse and Greyhound Racing Fund to each body will be fully expended in 2020.

The Horse and Greyhound Racing Fund (the Fund) was established under section 12(1) of the Horse and Greyhound Racing Act 2001 for the purpose of giving support to the horse and greyhound racing industries. 

A schedule of instalments from the Fund is agreed at the beginning of each year between my Department and Horse Racing Ireland (HRI) and Rásíocht Con Éireann (RCÉ).

Prior to each instalment claim being paid to either body by my Department,  the respective bodies must submit a current income and expenditure/ balance sheet report. Financial documentation is carefully examined by my officials prior to instalment payments being disbursed. Each body must furnish an annual business and rolling 5 year business plan no later than the 6^thmonth of each financial year to my Department.

A formal written oversight agreement between my department and HRI and RCÉ is drawn up on an annual basis. The oversight agreement is in the form of a Shareholders Letter Of Expectation (SLE).

My Department ensures that all reporting requirements are being adhered to.  The Annual  Unaudited Accounts, Annual Audited Accounts,  Interim unaudited Accounts for first half of each financial year must be  submitted within required timelines. These financial statements are then forwarded by my Department  to the Department of Public Expenditure and Reform as required under the Code of Practice for Goverance of State Bodies 2016.

The Annual Report and Accounts are submitted to Government each year, laid before the Houses of the Oireachtas and published.

There are twice yearly  liaison meetings  with  Senior Executives from HRI and RCÉ with officials from my Department lead by a Principal Officer.

Senior officials, including the Secretary General and myself, meet the Chairman and CEO of both bodies on a regular basis. The financial performance of both bodies is always a standing item at these meetings.