Written answers
Wednesday, 19 February 2025
Department of Finance
Departmental Expenditure
Ivana Bacik (Dublin Bay South, Labour)
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62. To ask the Minister for Finance if he is aware of any overspends exceeding €500,000 on projects undertaken or commissioned by his Department or by any State or semi-State body under the aegis of his Department in each of the past five years; if so, the number and extent of any such overspends, in tabular form; to outline the plans to ascertain levels of such overspends; the further plans to ensure that such information is reported to his Department in a timely fashion; and if he will make a statement on the matter. [6520/25]
Paschal Donohoe (Dublin Central, Fine Gael)
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I wish to advise the Deputy, that the Department of Finance has had no overspends exceeding €500,000 on projects undertaken or commissioned by the Department in the timeframe specified.
The Central Bank is a body under the aegis of my Department and have provided the requested information below. It was not possible for the National Treasury Management Agency to respond to the information request in the time available and therefore they will provide the information to the Deputy in line with Standing Orders.
Between 2020 and to date in 2025 the Central Bank has completed circa 100 projects. Of these 100 projects only 3 are classed as overspends by more than €0.5m. The total overspend of these 3 projects (listed below) amounts to €5m or 1.17% of total implementation costs. The 3 projects in question were deployed and are currently in use.
It should be noted that over this timeframe the remainder of the projects in the portfolio have been delivered with cumulative savings in excess of the overrun on the below listed projects.
Year Closed | Project Name | Category | Original Cost (€m) | Overspend (€m) |
---|---|---|---|---|
2020 | Securities Markets System (SMX) | Mandated | €3 | €0.9 |
2021 | Unity Phase 1 | Strategic | €19 | €3 |
2021 | Compass Programme Phase 1 | Remediation | €4 | €1 |
Total | €26 | €5 |
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