Dáil Éireann Debate, Wednesday - 9 November 2016
106. Deputy Sean Fleming asked the Minister for Education and Skills if he will provide a list of all contingent assets in his Department and in agencies under his Department where amounts can be owed but are not listed in the national accounts as an asset; if he will further provide a full breakdown of each category of contingent assets and the estimated amounts in the category; and if he will make a statement on the matter. [34074/16]
View answerIn line with general accounting procedures, and in accordance with Public Financial Procedures and guidance for the preparation of Appropriation Accounts issued by the Department of Public Expenditure and Reform, my Department does not recognise contingent assets or include them in notes in the Appropriation Accounts.
Any known amounts owed to my Department at the end of the financial year (31 December) are either recorded in the Balance Sheet or noted in my Department’s Annual Appropriation Accounts.
Agency bodies under the aegis of my Department produce their own separate accounts and the accounting treatment of any amounts owed to these bodies is a matter for the bodies concerned.
