Dáil Éireann Debate, Thursday - 1 October 2015
215. Deputy Seamus Kirk asked the Minister for Education and Skills if she is aware of remarks made by the chief executive of the Higher Education Authority in relation to financial challenges facing Dundalk Institute of Technology; the problems involved; and her plans to address these; and if she will make a statement on the matter. [33697/15]
View answerMy Department allocates recurrent funding to the Higher Education Authority (HEA) for direct disbursement to the HEA designated higher education institutions, including institutes such as Dundalk Institute of Technology (DKIT). The HEA allocates this funding to the institutions and the internal disbursement of funding is then a matter for the individual institution.
I understand that the position with regard to DKIT is that it declared significant operating deficits in both 2013 and 2014. As a result, the HEA requested a three year financial plan demonstrating how the institute would return to achieving a balanced budget over that period. The plan was independently reviewed by Mazars and they confirmed that the institute would achieve a breakeven position over the next three years based on the assumptions and proposals set out within the plan. DKIT has also confirmed to the HEA that it is now expecting a balanced outturn for 2015.
My Department, through the HEA, will continue to work with DKIT to monitor the implementation of the financial plan and to ensure that any issues with regard to financial sustainability continue to be addressed.
