Eoghan Murphy
Question:55 Deputy Eoghan Murphy asked the Minister for Finance the amount he intends to spend on consultancy fees in 2011, in particular those contracted to identify value for money in his Department. [28401/11]
View answerThursday, 6 October 2011
Questions (55)
Written answers
The 2011 Estimate for my Vote includes the following provision for consultancy expenditure:
|
€ million |
|
|
Administrative Budget |
€0.028 million |
|
Consultancy costs associated with the stabilisation of the Banking Sector |
€3.515 million |
At this point I do not envisage that the full allocation will be required but, due to the uncertain nature of the work, the final requirement cannot be predicted with reasonable certainty.
I do not envisage that any of this provision will be attributed to contract work related to value for money.
The following table contains the relevant information in relation to the bodies under the aegis of my Department.
|
Agency, Body, Office |
Detail |
|
National Treasury Management Agency |
The projected costs of legal and consultancy fees for the NTMA for 2011 are €8 million. This amount includes fees in relation to banking system functions and takes account of fees incurred by the Department of Finance post the transfer of banking functions to the Department (5 August 2011). It excludes banking consultancy fees recoverable from the financial institutions. Under the Memorandum of Understanding agreed with the Department of Finance, the NTMA continue to pay the third-party consultancy fees of the Banking Unit until 31 December 2011.The above projected costs do not include consultancy fees incurred by NAMA which are paid out of NAMA’s operating income. In 2011, legal and consultancy fees for NAMA are expected to be €29.9 million. |
|
Office of the Revenue Commissioners |
The amount provided for in 2011 in the Revenue Commissioners Revised Estimates Volume under Consultancy Services and Value for Money and Policy Reviews is €108,000. The amount spent to date in 2011 is €31,365 (including €2,405 to those contracted to identify value for money). The projected total expenditure to the end of the year is c €45,000. |
|
Office of the Appeals Commissioners |
Nil expenditure on Consultancy in 2011 |
|
Office of the Comptroller and Auditor General |
The Office of the Comptroller and Auditor General has an Estimate of €700,000 for 2011 in subhead A.7 Consultancy. Of this amount €500,000 is to provide specialist expertise in conducting the audit of the National Asset Management Agency and €200,000 is provided more generally for specialist expertise in connection with the reporting work carried out by the Office. The consultancy expenditure on NAMA related work is considered a cost of audit and is recouped from NAMA through Appropriations in Aid. To the end of September the Office has spent about €86,000, most of which is recoupable from the NAMA audit. To the end of the year it is expected that the Office will not spend more than about €100,000. |