Dáil Éireann Debate, Wednesday - 8 June 2016
243. Deputy Carol Nolan asked the Minister for Education and Skills the third level institutions that are running at a deficit; the amount of the deficit by institution; and if he will make a statement on the matter. [14994/16]
View answerDetails of the Institutes of Technology that are showing a deficit in their draft financial statements for 2014/15 are set out in the attached table.
All of the institutes listed 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 Institutes of Technology showing a deficit according to the 2014/15 draft Financial Accounts are as follows: .
|
Institute |
Deficit |
|
Athlone Institute of Technology |
(€528,000) |
|
Cork Institute of Technology |
(€2,393,000) |
|
Dundalk Institute of Technology |
(€1,295,000) |
|
Galway-Mayo Institute of Technology |
(€2,463,000) |
|
Dun Laoghaire Institute of Art Design & Technology |
(€69,000) |
|
Letterkenny Institute of Technology |
(€1,345,000) |
|
Limerick Institute of Technology |
(€130,400) |
|
Institute of Technology Tralee |
(€1,004,000) |
|
Waterford Institute of Technology |
(€849,000) |
